Western states face first federal water cuts
U.S. officials on Monday are expected to declare the first-ever water shortage from a river that serves 40 million people in the West, triggering cuts to some Arizona farmers next Continue Reading
U.S. Gulf of Mexico oil producers consolidation accelerates
Oil and gas producers in the U.S. Gulf of Mexico have consolidated at a faster rate during the pandemic, new government data shows, as crashing prices squeezed out smaller drillers Continue Reading
U.S. Natural Gas Dominance May Be Coming To An End
The is the fourth article in a series on BP’s recently-released Statistical Review of World Energy 2021 . Previous articles provided an overview of this year’s Review, an examination of Continue Reading
What Will The Gas Station Of The Future Look Like?
Two-thirds of Americans are interested in electric cars. Sales of EVs hit a record of more than 300,000 in the first half of the year. Everything seems to be going Continue Reading
Tropical Storm Fred Strengthens Again in Gulf Near Florida
Twin tropical storms promise heavy rains across Florida and more misery for Haiti, reeling after hundreds were killed following a massive earthquake Saturday. In the Gulf of Mexico, Tropical Storm Continue Reading
Russia releases worst pandemic death numbers to date
Russia’s daily COVID-19 deaths hit a new record of 819 on Saturday, a day after Moscow’s health department reported the highest number of monthly deaths in the city since the Continue Reading
UK government to review green retail electricity tariffs
The British government said on Monday it will review green retail electricity tariffs due to concerns that energy companies could be exaggerating how environmentally friendly their products are. The government Continue Reading
Crude prices drop but hold steady near $70/b threshold
Crude oil prices fell Aug. 13 but still held steady near the $70/b threshold as fears of economic and supply-chain slowdowns bubbled up as a result of China closing a Continue Reading
Oil Steady as Covid Return Casts Shadow Over Demand Outlook
IEA ‘Sharply’ Cuts Oil Demand Outlook on Delta Virus Concerns Oil steadied at the end of a volatile week in which the fast-spreading delta virus variant continued to cloud the Continue Reading
Oil dips as Delta variant weighs on demand forecasts
The Brent benchmark oil price fell for a second day on Friday, albeit holding above $70 a barrel, after the International Energy Agency warned that demand growth for crude is Continue Reading
Oil Giants Turn to Startups for Low-Carbon Energy Ideas
Some of the world’s biggest oil companies are turning to startups to help plot their future.Energy giants including BP BP -1.75% PLC and Royal Dutch Shell RDS.A -1.58% PLC are bolstering their venture capital arms—increasing budgets, hiring more Continue Reading
Why The Market Doesn’t Need Much More OPEC+ Oil
While the Biden Administration calls on OPEC+ to boost production more than planned, the major oil forecasters scaled back their outlook on how much OPEC+ crude the market would need. Continue Reading
Iran Oil Output Falls To 40-year Low In 2020
Iran’s crude oil production fell to the lowest in 40 years, according to an updated analysis by the U.S. Energy Information Administration. At less than 2 million bpd, the EIA Continue Reading
Nigeria: Insecurity Drove Away Many Investments in Oil, Gas Sector, Pengassan
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), on Friday, said hundreds of investments in the oil and gas sector have been driven away by the growing Continue Reading
Pemex Can’t Afford to Develop Zama
Petroleos Mexicanos fought tooth and nail to wrest control of the country’s biggest private oil find from the companies that discovered it. Now it has found itself without the cash Continue Reading
Asia Buys More U.S. Crude As Middle East Hikes Oil Prices
Despite a slowdown in fuel demand due to the Delta variant, Asian refiners have booked more crude oil from the United States for the fourth quarter, taking advantage of the Continue Reading
Shippers await clarity on impact of shutdown at China’s Ningbo
Highlights Carriers omit sailings at the terminal, warn of delays Shippers fear booking cancellations Lockdowns, delays in Vietnam may exacerbate problems The shutdown of the Meidong terminal at China’s Ningbo Continue Reading
China’s Port Shutdown Raises Fears of Closures Worldwide
A Covid outbreak that has partially shut one of the world’s busiest container ports is heightening concerns that the rapid spread of the delta variant will lead to a repeat of last Continue Reading
First New Oil Sands Pipeline in Years Could Start Next Month
A key pipeline linking Canada’s oil sands to U.S. markets could start shipping crude as early as next month. Enbridge Inc.’s Line 3 oil pipeline from Alberta to Wisconsin could Continue Reading
U.S. Rig Count Rises To 16-Month High
The number of oil and gas rigs in the United States rose by 9 this week, according to Baker Hughes —after rising by 3 last week. The total rig count Continue Reading
Extreme temperatures, transmission outages bring volatile power prices to New York
Highlights Zone K power prices surge over $1,500/MWh Multiple transmission, supply outages: LIPA Lower demand, temperatures expected week of Aug. 16 A heat wave that moved through the Northeast US Continue Reading
U.S. drillers add most oil rigs in a week since April
U.S. energy firms added the most oil rigs in a week since April as the total rig count more than doubled from a record low a year ago amid a Continue Reading
Shale Driller Posts Rare Negative Revenue After Hedging Losses
The global gas rally left a bitter aftertaste for one U.S. shale driller that posted negative revenue after it had to write down the value of its output hedges. Vine Continue Reading
Severe Drought Could Threaten Power Supply in West for Years to Come
As drought persists across more than 95% of the American West, water elevation at the Hoover Dam has sunk to record-low levels, endangering a source of hydroelectric power for an estimated 1.3 Continue Reading
Whistler deliveries weigh on S. Texas basis; Permian gas floods Texas Gulf Coast
Highlights Agua Dulce, Texas Eastern STX, Tenn Zone 0 move lower Whistler deliveries to interstates continue ramping up Permian Basin now key supplier to Texas Gulf Coast market Gas delivered Continue Reading
Scotland’s Sturgeon Asks Johnson to Rethink Oil, Gas Permits
Scotland’s First Minister Nicola Sturgeon called on the U.K. government to reconsider oil and gas licenses, just days after a United Nations panel warned of dire consequences for the planet without drastic Continue Reading
Crude oil futures fall on pandemic concerns, bearish IEA report
Crude oil futures were lower during midmorning Asia trade Aug. 13 as pandemic concerns continued to keep prices in check, with the sentiment also taking a hit after the International Continue Reading
Oil Dips as Traders Weigh Delta’s Impact on Global Demand
Oil closed lower as traders assess how the spreading delta variant will impact world fuel demand the rest of the year. Futures in New York posted a 0.2% decline in Continue Reading
For Many, Hydrogen Is the Fuel of the Future. New Research Raises Doubts.
It is seen by many as the clean energy of the future. Billions of dollars from the bipartisan infrastructure bill have been teed up to fund it. But a new peer-reviewed study on the Continue Reading
Droughts shrink hydropower, pose risk to global push to clean energy
Severe droughts are drying up rivers and reservoirs vital for the production of zero-emissions hydropower in several countries around the globe, in some cases leading governments to rely more heavily Continue Reading
OPEC+ supply boost unlikely despite call from U.S. for more oil, says Goldman
U.S. investment bank Goldman Sachs said a recent call by the United States to OPEC+ to boost oil output is unlikely to result in higher production over the short-term given Continue Reading
Iran Falls Drastically Short Of Renewable Energy Target | OilPrice.com
Iran has met just one-fifth of its renewable capacity installation target for the five-year period between 2016 and 2021, also because the U.S. sanctions imposed in 2018 significantly slowed down Continue Reading
Why An Oil Deal Between Kurdistan And Baghdad Is Unlikely
The recent transfer of IQD200 billion (US$137 million) from the Federal Government of Iraq (FGI) in Baghdad to the semi-autonomous region of Kurdistan’s government (KRG) in Erbil raised hopes that Continue Reading
Uganda’s Oil Boom Is Only Just Beginning
Uganda is set to be a key focus of African Energy Week (AEW) in Cape Town this November, as its flourishing oil industry looks set to boom in the coming Continue Reading
Venezuela’s Oil Reserves Doomed To Become The World’s Largest Stranded Asset
The aggressive push to decarbonize the world economy is forcing big oil to examine how the carbon emissions of its operations can be reduced with a goal of becoming carbon Continue Reading
China’s Producer Prices Jump Despite Efforts to Cool Commodities Costs
China’s factory-gate prices rose at an unexpectedly fast clip in July, matching the highest level in more than 12 years as crude oil and coal prices soared—though economists say the Continue Reading
Drumbeat grows louder for BHP to exit petroleum
Expectations are growing that BHP Group Ltd (BHP.AX) (BHPB.L) will deliver a verdict on the future of its petroleum business at its results next week, as it comes under increasing Continue Reading
China’s Port Shutdown Raises Fears of Closures Worldwide
A Covid outbreak that has partially shut one of the world’s busiest container ports is heightening concerns that the rapid spread of the delta variant will lead to a repeat of last Continue Reading
China puts growth ahead of climate with surge in coal-powered steel mills
China’s expansion of coal-powered steel mills accelerated sharply in the first half of 2021, exposing the government’s reluctance to sacrifice industry-fuelled growth to achieve its climate goals. Analysis of Chinese Continue Reading
China’s July oil product exports fall on quota shortages
China’s oil product exports fell 28% month on month to 4.64 million mt in July — a five-month low — as oil companies cut exports due to quota shortages. China Continue Reading
California Drought: A Dry Season Is Turning Into Drought Era
Drought across the Western U.S. has forced California to ration water to farms. Hydroelectric dams barely work. The smallest spark — from a lawnmower or even a flat tire — Continue Reading
Why Are Environmentalists Angry About Biden’s Infrastructure Bill? | OilPrice.com
This week the United Nations and the Intergovernmental Panel on Climate Change (IPCC), the world’s leading authority on global warming, released a devastating report summing up the current state of climate change, Continue Reading
First major US hydrogen-burning power plant nears completion in Ohio
Highlights 485-MW Long Ridge plant will run on gas-hydrogen mix Plant at former aluminum smelter site on Ohio River Touted as a first-of-its-kind power plant in the United States, the Continue Reading
Pacific Northwest needs to keep generation at home to balance heat-driven demand
Highlights June CCDs average 1,268% higher than normal July hydro averaged 11.3 points lower year on year Mid-C averaging 202% higher than the August 2020 Mid-C wholesale power prices have Continue Reading
US oil, gas rig count jumps 14 to 617 on week as companies sound upbeat note
Highlights Bakken sees biggest weekly change, up 3 to 25 Permian Basin down by 1 rig, leaving 257 2022 operator thought suggests caution on oil markets The US oil and Continue Reading
US East Texas and Southeast spot natural gas prices hit 7-year summer highs in June
Highlights Texas, Southeast Natural gas prices rise amid tight supply and demand balance Record-high temperatures, LNG exports lend strength to prices US natural gas spot prices at the Agua Dulce, Continue Reading
The Oil & Gas Inflation Trap That No One Wants To Talk About
President Joe Biden has lately sought to soothe fears that rising inflation could hurt the U.S. recovery and undermine his $4-trillion spending plans. This comes after U.S. inflation for the Continue Reading
Europe Could Face A Natural Gas Crisis This Winter
One week after we first observed the staggering surge in European natural gas prices, those same prices hit a new record high as a slow at first, then much faster Continue Reading
Oil prices steady as IEA warns of demand recovery slowdown
Oil prices steadied on Thursday as the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the global oil demand recovery. read more Continue Reading
Oil Gains as Weaker Dollar Offsets Disappointing Stockpile Draw
Oil rose as a weaker dollar offset a government report that showed a smaller-than-expected decline in crude stockpiles in the wake of a viral resurgence. Futures advanced 1.4% after falling Continue Reading