Russia ‘s second-largest crude oil producer Lukoil hopes to increase oil output at the West Qurna 2 project in Iraq to 480,000 b/d next year, the company said during a Continue Reading
The Arabian Gulf Oil Company, a subsidiary of Libya’s National Oil Corporation (NOC), has suspended oil production for lack of money, Arab News has reported , citing the company’s Facebook Continue Reading
The Fujairah Oil Terminal (FOT) is upgrading its infrastructure to link the storage site with a key crude pipeline and the terminal for supertankers at the Port of Fujairah, in Continue Reading
U.S. President Joe Biden told Israeli Prime Minister Naftali Bennett in White House talks on Friday that he was putting “diplomacy first” to try to rein in Iran’s nuclear program Continue Reading
A guest post by George Kaplan IOC Reserves and Production About the only place where properly audited estimates for OPEC’s claimed reserves are available is sub-Saharan Africa, principally Nigeria and Continue Reading
Mexico’s state-owned oil firm Pemex has restored part of the oil production suspended after Sunday’s fatal fire that killed seven people, but the pace of output recovery could be slower Continue Reading
A new wave of security threats in Nigeria poses a major challenge to Africa’s largest oil producer and a key supplier of light sweet crude grades to Europe, industry officials Continue Reading
Mexico expects an average price of $60 per barrel for its crude oil exports, as well as an average crude production of 1.9 million barrels per day (bpd) for 2022, Continue Reading
Japanese oil company Inpex Corp sold two Venezuelan oil and gas assets to Caracas-based Sucre Energy Group, three people familiar with the transaction said, as multinational firms retreat from the Continue Reading
U.S. officials have begun blocking the import of solar panels that they believe could be products of forced labor in China, implementing a recent ban that could slow the construction Continue Reading
PetroChina has targeted increasing its green energy production and utilization capacity by 3.5 million mt standard coal/year in 2021, as part of its effort to meet emission peak by around Continue Reading
Australia reported a record 1,126 coronavirus infectious on Saturday, the vast majority in New South Wales, the epicenter of the Delta-fuelled outbreak. More than half of Australians have been in Continue Reading
Chinese tech stocks’ best weekly rally since January may not be enough to persuade some investors to return to a market still reeling from an unprecedented private-industry assault. JPMorgan Asset Continue Reading
Nissan Motor plans to start sales of an all-new, all-electric minivehicle in Japan in early FY2022. The vehicle is part of a joint project with Mitsubishi Motors Corporation and is Continue Reading
U.S. energy firms this week added oil and natural gas rigs for a fourth week, resulting in the 13th monthly increase in a row, even as a major storm approaches Continue Reading
Oil producers on Friday have shut-in 59% of Gulf of Mexico crude production as the ninth-named storm of the season barreled towards the key U.S. offshore oilfields, according to the Continue Reading
The Environmental Protection Agency has proposed a retroactive reduction in biofuel mandates, effective 2020, in very welcome news to oil refiners who have been complaining of the costly mandates. Citing Continue Reading
Gas prices a bigger factor in power hikes Stronger economy seen in some areas Pandemic may lessen price surge in 2021 Stronger North American power demand has had a muted Continue Reading
Highlights California battery storage capacity to double by end of year June-Aug. thermal generation up 27% over 5-year average Battery storage is taking off in California with nearly 1.2 GW Continue Reading
U.S. oil and gas companies on Friday cut more than 1.6 million barrels of oil production as a major storm churned toward oilfields that provide 17% of the nation’s oil Continue Reading
The Netherlands’ advertising watchdog ruled that a Royal Dutch Shell Plc advertising campaign that said customers can offset the carbon emissions from their fuel purchases is misleading. Shell offers customers Continue Reading
Net zero-emission targets will require widespread adoption of fully electric vehicles by private motorists but there are significant social and economic barriers that will have to be overcome to make Continue Reading
The government has announced plans to ban single-use plastic cutlery, plates and polystyrene cups in England as part of what it calls a “war on plastic”. Ministers said the move Continue Reading
Crude oil futures rose during the morning trade in Asia on Aug. 27 as investors sought to take advantage of lower prices following an overnight decline and the retreat of Continue Reading
Oil headed for the biggest weekly gain in 11 months as market focus shifted to the outlook for U.S. economic stimulus and a storm that is menacing the Gulf of Continue Reading
Oil prices rose on Friday, on track to post big gains for the week, on worries about supply disruptions as energy companies began shutting production in the Gulf of Mexico Continue Reading
Oil fell on Thursday for the first session this week as renewed concerns about demand amid rising COVID-19 infections cut short a three-day rally, and as production returned in Mexico. Continue Reading
Brazil and its tiny neighbors Guyana and Suriname have recently risen to prominence with major oil discoveries despite what most would see as an unfavorable environment—the energy transition seems to Continue Reading
Wealthy countries are finalizing plans to roll out Covid-19 booster programs to counter the threat from waning vaccine immunity, decisions that will further squeeze the supplies available to the developing Continue Reading
A fatal virus and a massive economic downturn did not stop planet-warming gases in the atmosphere last year from rising to their highest levels in human history, researchers say. Barely a Continue Reading
BP is spinning off its assets in Iraq by setting up a joint venture with PetroChina which will manage Iraq’s largest oilfield Rumaila as the UK-based supermajor is looking to Continue Reading
Refinery: Dangote, Nigeria Owner: Dangote Group Overall capacity: 650,000 b/d Notes: Nigeria’s Nigerian National Petroleum Corporation will supply 300,000 b/d of crude to the 650,000 b/d Dangote oil refinery, which Continue Reading
Lebanon’s energy ministry said it had picked Dubai’s ENOC in a tender to swap 84,000 tonnes of Iraqi high sulfur fuel oil with 30,000 tonnes of Grade B fuel oil Continue Reading
Libya’s Arabian Gulf Oil Co (AGOCO) will stop operations unless it receives its budget allocation for 2020 and 2021, it said in a statement late on Thursday, without giving a Continue Reading
The French president’s second trip to Iraq in less than a year could potentially help push a massive energy deal across the finish line for TotalEnergies. Iraqi Prime Minister Mustafa Continue Reading
Pemex Chief Executive Officer Octavio Romero gestures in a news conference after Sunday’s fire on an offshore platform in the southern Gulf of Mexico, at the headquarters of state-owned oil Continue Reading
PetroChina aims to have oil, gas, and green energies to each account for a third of its portfolio by 2035, it said on Thursday, as the Chinese oil major shifts Continue Reading
India’s petrochemicals demand is expected to jump ten times by 2050, the president of India’s Chemicals and Petrochemicals Manufacturers’ Association (CPMA) said at the CPMA – Argus Petrochemical Online Forum Continue Reading
U.S. energy companies on Thursday began airlifting workers from Gulf of Mexico oil production platforms and moved vessels from the path of what could become a devastating hurricane by the Continue Reading
Canada, the world’s biggest canola grower and a major wheat producer, forecasts a 26% drop in supplies of its main crops as drought ravages output and inventories shrink. Grain and Continue Reading
Last week a judge halted the latest Alaskan oil project following a year of disappointment due to the Covid related drop in oil demand and the cancellation of project after Continue Reading
Last year, we made a financial projection for the price of electricity long term, with or without decarbonization (“Electricity decarbonization is not that expensive, so let’s get on with it”, Continue Reading
The US oil and gas rig count fell three to 621 on the week, energy analytics and software company Enverus said Aug. 26, with the Permian up four as the Continue Reading
Chevron was moving nonessential crews from its operated US Gulf of Mexico facilities as Tropical Depression Nine inched closer to the US coast in early afternoon Aug. 26, although the Continue Reading
The ports of Los Angeles and Long Beach in California reported lengthier lists of ships anchoring offshore, with the number of ships idle within sight of the port standing at Continue Reading
The closely-watched spread between the U.S. and global crude benchmarks widened to the biggest gap in four months with traders anticipating ballooning supply in America. The U.S. government plans to Continue Reading
A quick start to the Atlantic hurricane season saw five storms form so far this year, well ahead of normal pace of a normal year, before settling into a lull Continue Reading
American farmers are preparing to fire up their tractors earlier than usual this year, and it’s an unexpected gift to oil markets. Unusually hot and dry weather has sped up Continue Reading
Reinsurance giant Swiss Re announced Wednesday that it had signed the world’s first long-term agreement to take carbon directly out of the air. The contract with Climeworks AG, one of Continue Reading
Oil dropped after the biggest three-day gain since March, with the latest Covid-19 resurgence still clouding the outlook for fuel demand. Futures in New York fell below $68 a barrel Continue Reading
