Will Big Oil Use High Oil Prices To Go Green?
Estimate-beating profits and solid cash positions were marks of the first half of the year for Big Oil majors and for their smaller rivals, too. A strong rebound in fuel Continue Reading
April Non-OPEC Oil Output Declines
A post by Ovi at peakoilbarrel. Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIAʼs International Energy Continue Reading
Oman signs land deal for green hydrogen project with India’s ACME, report says
Oman has signed a land reservation agreement for a green hydrogen and ammonia project that Indian company ACME aims to set up in the Special Economic Zone at Duqm, Oman’s Continue Reading
Israel finds COVID-19 vaccine booster significantly lowers infection risk
A third dose of Pfizer (PFE.N) ‘s COVID-19 vaccine has significantly improved protection from infection and serious illness among people aged 60 and older in Israel compared with those who Continue Reading
Iran is ready to ship more fuel to Lebanon if needed, says Iranian official
Iran said on Monday it is ready to ship more fuel to Lebanon if needed, a day after the leader of Lebanon’s Iran-aligned Hezbollah group said more vessels carrying Iranian Continue Reading
Libyan Central Banker Pins Revival Hopes on Higher Oil Output
Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Libya needs to boost oil output by almost 40% of its current level in Continue Reading
Iran’s president says ‘a lot of possibilities’ for oil sales as nuclear talks stalled
Highlights Vote on new cabinet set for Aug. 24 July oil output was highest since April 2019 Oil products exports to take focus Iran has “a lot of possibilities” to Continue Reading
Lebanon raises fuel prices by 66% as it tries to ease shortages
The Lebanese government said on Sunday that it was raising gasoline prices by 66% in a partial reduction of fuel subsidies as it seeks to ease crippling shortages that have Continue Reading
Brazil Discusses Gas Pipeline From Vaca Muerta Shale With Argentina
Brazil is in talks with Argentina about potentially building a $5-billion natural gas pipeline from the Argentinian Vaca Muerta shale play, Brazilian President Jair Bolsonaro said during his weekly live Continue Reading
Investors See Green Hydrogen Advancing as China Signals Support
Chinese investors see potential for further gains in companies making equipment needed to produce or use green hydrogen, a clean energy source most governments are betting will help them meet Continue Reading
MIT team studies grid impacts of concentrated highway EV fast charging
Researchers at the MIT Energy Initiative have investigated the grid impacts of scaled up highway fast-charging (HFC) infrastructure by using an operations model of the 2033 Texas power grid with Continue Reading
API Updates Pipeline Cybersecurity Standard
The American Petroleum Institute has published an updated edition of its cybersecurity standard for pipelines. The American Petroleum Institute (API) has published an updated edition of its cybersecurity standard for Continue Reading
Merkel offers reassurances on Russia pipeline, Ukraine urges greater clarity
German Chancellor Angela Merkel offered reassurances on Sunday that Ukraine would not suffer from the construction of Russia’s Nord Stream 2 pipeline, but Ukraine said talks about its future as Continue Reading
U.S. imposes Nord Stream 2 sanctions; opponents say they won’t halt project
The Biden administration on Friday slapped sanctions on a Russian ship and two companies involved in the Nord Stream 2 gas pipeline, but opponents of the nearly completed project said Continue Reading
Biofuel Feedstock Shortage Hinders Green Shipping Ambitions
The world’s largest shipping company, A.P. Moller Maersk A/S, aims to have net-zero carbon dioxide emissions from its own ocean operations by 2050 as the industry responsible for around 3 Continue Reading
Nord Stream 2 Could Crush European Natural Gas Prices
We recently wrote about Europe’s soaring, record gas prices as Russian nat gas supplies have been suspiciously low, amid growing concerns about Europe’s inventory levels as the winter approaches. The Continue Reading
Russia Has Big Plans For Arctic Oil
Russia seems intent on selling the world’s very last barrel of oil. As other energy superpowers and petro-states around the world scramble to diversify their economies and establish a foothold Continue Reading
Ukraine says discussed guarantees with US, Germany over Nord Stream 2 pipeline
The energy ministers of Ukraine, the United States and Germany discussed guarantees for Ukraine about its future as a transit country after the construction of Russia’s Nord Stream 2 gas Continue Reading
Oil Caps Longest Run of Losses Since 2019 on Fed Tapering Signal
Oil capped the week with the longest losing streak since 2019 as the dollar strengthened after the Federal Reserve signaled it will start tapering stimulus and the virus resurgence raises Continue Reading
The Oil Price Collapse Continues
As uncertainty over new Covid outbreaks combined with a strengthening U.S. dollar, oil prices came under pressure this week and are on course to finish the week 7 percent down. Continue Reading
Oil in Longest Run of Declines Since 2019 After Fed Taper Signal
Oil headed for its longest stretch of daily declines since 2019 as the U.S. Federal Reserve’s signal it will start tapering stimulus promoted a rally in the dollar, and concerns Continue Reading
Column: Oil price path depends on pandemic’s next phase: Kemp
Oil markets only exhibit the current combination of falling spot prices and a calendar spread in backwardation relatively infrequently, which suggests the contradiction between them will resolve itself rapidly. Falling Continue Reading
A billion children are at ‘extremely high risk’ of climate shocks, UNICEF says
Almost half of the world’s 2.2 billion children are living in countries that face an extremely high risk of the impacts of the climate crisis, including environmental shocks such as Continue Reading
Genel Down on Iraqi Kurdistan’s Plan to Scrap Projects
Genel Energy Plc fell the most in more than a year in London trading after saying Iraq’s Kurdish authorities plan to scrap its Bina Bawi and Miran natural gas projects. Continue Reading
Production Slumps By 40% At India’s Biggest Oil, Gas Deposit
Oil and gas production from India’s northwestern state of Rajasthan—home to the country’s single biggest oil and gas deposit—has slumped by 40 percent over the past two years, mostly due Continue Reading
Planned Panama Canal maintenance to severely impact transit capacity: shipping agents
Scheduled maintenance at the Panama Canal’s Miraflores Locks Aug. 29-Sept. 10 could severely impact canal capacity and extend transit delays for “days, if not weeks after completion,” shipping sources have Continue Reading
15 companies await decision to market Guyana crude
Experienced crude oil marketer wanted Guyana is expected to pick its new crude oil marketer from a list of 15 companies that submitted bids to the procurement authority of the Continue Reading
Surface Water Vulnerable to Widespread Pollution From Fracking, a New Study Finds
A new study shows the potential for widespread surface water pollution from hydraulic fracturing like at this drilling site in Western Colorado. Credit: Bob Berwyn Fossil fuels don’t just damage Continue Reading
Western Drought Will Last Into Fall or Longer
The severe drought that has gripped much of the western half of the United States in spring and summer is likely to continue at least into late fall, government forecasters Continue Reading
EPA to urge U.S. biofuel blending mandates below 2020 levels, sources say
The U.S. Environmental Protection Agency is expected to recommend to the White House reducing federal biofuel blending mandates for 2021 to below 2020 levels in what would be a blow Continue Reading
U.S. oil and gas rigs rise for third week
U.S. energy firms this week added oil and natural gas rigs for a third week in a row, as a recovery in oil prices prompted some drillers to return to Continue Reading
Alaska Ruling Shows Big Oil’s Uphill Battle in Climate-Fears Era
Even the climate-conscious Biden administration supported ConocoPhillips ’s $6 billion oil development on Alaska’s Northern Slope, but that couldn’t stop a judge from throwing it in limbo on environmental grounds. Continue Reading
U.S. Large-Scale Battery Storage Capacity Is Booming
Large-scale battery power capacity in the United States jumped by 35 percent last year to reach 1,650 megawatts (MW), and the significant growth of the past few years is set Continue Reading
It Rained at the Summit of Greenland. That’s Never Happened Before.
Something extraordinary happened last Saturday at the frigid high point of the Greenland ice sheet, two miles in the sky and more than 500 miles above the Arctic Circle: It Continue Reading
U.S. Rig Count Ticks Higher Amid Oil Price Slide
The number of oil and gas rigs in the United States rose by 3 this week, according to Baker Hughes —after rising by 9 last week. The total rig count Continue Reading
Canadian oil and gas operators plan to grow production, spending in future
Multiple Canadian companies, including the country’s most prolific natural gas producer, plan on growing volumes and capital spending in the quarters ahead, in stark contrast to major US oil and Continue Reading
Europe Faces LNG Supply Crunch
Europe is facing a potentially tough winter with natural gas supply nowhere near enough to meet heightened seasonal demand, Bloomberg has reported, citing storage data and industry insiders. LNG deliveries Continue Reading
World’s Biggest Wealth Fund Wants Oil Firms To Cut More Emissions
The world’s largest sovereign wealth fund, Norway’s $1.4 trillion Government Pension Fund Global (GPFG), should ask from the companies it is invested in when it comes to reaching their 2050 Continue Reading
Russia ready to continue gas transit via Ukraine post-2024: Putin
Highlights Any new Ukrainian transit deal dependent on European demand Pledges to carry out ‘all obligations’ under current contract Just 15 km left of Nord Stream 2 gas pipeline to Continue Reading
UK-based consortium to develop prototype solid-state batteries for automotive
A consortium of seven UK-based organizations has signed a memorandum of understanding to combine ambitions to develop world-leading prototype solid-state battery technology, targeting automotive applications. Solid-state batteries offer significant potential Continue Reading
Oil in Longest Run of Declines Since 2019 After Fed Taper Signal
Oil headed for its longest stretch of daily declines since 2019 as the U.S. Federal Reserve’s signal it will start tapering stimulus promoted a rally in the dollar, and concerns Continue Reading
Column: Oil prices hammered by surge in coronavirus cases: Kemp
Oil prices have finally buckled after coronavirus cases surged in all the major oil-consuming regions, pushing back the anticipated easing of quarantines and resumption of international passenger aviation. The number Continue Reading
Oil rises but set for 5% weekly drop as Delta variant spreads
Oil prices steadied on Friday, clambering away from three-month lows, but they were still on track for a weekly loss of more than 5% as new lockdowns in countries facing Continue Reading
Oil drops to below $66, lowest since May, on demand concerns
Oil dropped to below $66 a barrel on Thursday, its lowest since May, pressured by concerns about weaker demand as COVID-19 cases rise, a stronger U.S. dollar and a surprise Continue Reading
Oil Buckles to Lowest Since May as Fed Signals Intent to Taper
Oil tumbled again, dropping to the lowest level since May as the U.S. Federal Reserve signaled it was set to start tapering asset purchases within months, hurting commodities and lifting Continue Reading
Big Oil’s Foray Into Renewables Has Completely Changed The Market
That the oil and gas industry is problematic is perhaps too mild a way to put it. Fossil fuel producers have recently become the singular target of accusations and lawsuits Continue Reading
Overt Signs of Covid Demand Pressures Are Here
In this week’s edition of oil and gas industry hits and misses, Rigzone’s regular market watchers look at the ongoing effect of Covid on the market, oil price predictions, rig Continue Reading
Emerging oil nations reject climate curbs on exploration, pursue rapid development
The world’s newest oil-producing nations grabbed the spotlight at this week’s Offshore Technology Conference with ambitious plans to tap oil and gas discoveries in a race against a global energy Continue Reading
Chip Crisis Threatens to Cut Auto Output by 7.1 Million Cars
The global shortage of semiconductors will cut worldwide auto production by as many as 7.1 million vehicles this year, and pandemic-related supply disruptions will hobble the industry well into next Continue Reading
Extreme Heat Is a Clear and Growing Health Issue, Two Studies Find
More than 356,000 people died in 2019 as a result of extreme heat and that number is likely to grow, according to a study published in The Lancet this week. Continue Reading