Why Bank Of America Thinks Oil Prices Are Heading To $100
Oil prices could hit $100 per barrel over the next six months if we have a colder-than-usual winter, which could be the most important driver of global energy markets in Continue Reading
World Faces Growing Risk of Food Shortages Due to Climate Change
Technology to Feed the World Food supplies will struggle to keep pace with the world’s growing population as climate change sends temperatures soaring and droughts intensify, according to a report Continue Reading
Climate change: World now sees twice as many days over 50C
The number of extremely hot days every year when the temperature reaches 50C has doubled since the 1980s, a global BBC analysis has found. They also now happen in more Continue Reading
Saudi Arabia On Edge As The U.S. Withdraws From The Middle East
The strategic relationship between the House of Saud and the US Administration is worsening by the day, as shown by repeated unexpected changes in president Biden’s approach to the Kingdom Continue Reading
Nigeria Faces One of Its Worst Cholera Outbreaks in Years
Nigeria is seeing one of its worst cholera outbreaks in years, with more than 2,300 people dying from suspected cases as Africa’s most populous country struggles to deal with multiple Continue Reading
OPEC+ Raises Oil Production But Remains Compliant
OPEC saw its crude oil production rise by 150,000 barrels per day (bpd) in August, data from secondary sources in the cartel’s monthly report showed, but even at higher quotas, Continue Reading
Venezuela Heavy Oil Project Reserves Will be Left Stranded
Venezuela’s heavy oil project reserves will be left stranded as international players divest their interest, according to GlobalData. Venezuela’s heavy oil project reserves will be left stranded as international players Continue Reading
Gas capture program bolsters Tawke oil production
Over the past few years, Norway’s DNO has faced uncertainty around when it would be able to drill more wells to offset the natural decline of existing production at Tawke, Continue Reading
China’s Futile Attempt To Send Oil Prices Lower
Oil prices were choppy last week, but as of this writing, have so far failed to break out of last week’s trading range. Further to that end, the oil market Continue Reading
China’s Heavy-Handed Solution To The Semiconductor Shortage
China is taking a page out of the Keynesian central banking playbook on how to micromanage an entire economy and is now reportedly fining auto chip sales companies for driving Continue Reading
COVID-19 cases in southeast China more than double as Delta spreads
New local COVID-19 infections more than doubled in China’s southeastern province of Fujian, health authorities said on Tuesday, prompting officials to quickly roll out measures including travel restrictions to halt Continue Reading
Over 40% of U.S. Gulf’s oil, gas output still shut following Ida -regulator
Over 40% of the U.S. Gulf of Mexico’s production of crude and natural gas remained shut on Monday two weeks after Hurricane Ida wreaked havoc in Louisiana, the regulator Bureau Continue Reading
Biden Outlines a Plan for Cleaner Jet Fuel. But How Clean Would It Be?
At first glance, it’s a big step forward in curbing climate change. In a deal announced Thursday, the Biden administration and the airline industry agreed to an ambitious goal of Continue Reading
High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year
Natural gas production is set for a significant increase over the next year thanks to the current imbalance between demand and supply, which has pushed prices to record highs , Continue Reading
As oil-well backlog shrinks, U.S. shale may upset investors and drill more
U.S. energy producers have cut so deeply into a once-large reserve of oil wells waiting to be turned on they soon may have to resume drilling to keep production from Continue Reading
U.S. solar on track for record year despite climbing costs – report
New U.S. solar installations soared 45% in the second quarter and are on track for a record year despite a supply chain squeeze that has increased the cost of both Continue Reading
Democrats’ Energy Plan Will Kill U.S. Coal by 2030, Miners Say
A plan to push utilities to use more clean energy could eliminate coal from the U.S. power grid by the end of the decade, according to a trade group that Continue Reading
U.S., Europe Seek to End Export Financing for Coal
The U.S., the European Union, South Korea and other wealthy nations are moving to forbid their export-financing agencies from supporting coal-fired power projects overseas, in an effort to end government Continue Reading
Senate Republicans Vow to Block Treasury Nominations Until Nord Stream II Firm Is Sanctioned
Senior Senate Republicans on Monday threatened to indefinitely hold up the nominations of five top Treasury Department officials if the Biden administration doesn’t blacklist the firm managing Russia’s Nord Stream Continue Reading
Spain to cut energy tax, cap gas prices to curb soaring electricity bills, PM says
Spain will impose caps on gas prices and cut its special electricity tax to 0.5% from 5.1% as part of a package of measures to bring down soaring energy prices, Continue Reading
Europe’s Energy Crisis Shows the Downside of Fossil Fuels
High Gas Prices Today Are a Problem for Europe: Enel CEO The global rise in energy prices shows, in a way, what a chaotic transition to greener power looks like. Continue Reading
Poland Wants to Detail EU Role in Surging Electricity Prices
Facing a steep and unpopular increase in power prices, the Polish government wants electricity invoices to specify the additional costs households face due to European Union climate policies. The bloc’s Continue Reading
Energy Prices in Europe Hit Records After Wind Stops Blowing
Natural gas and electricity markets were already surging in Europe when a fresh catalyst emerged: The wind in the stormy North Sea stopped blowing. The sudden slowdown in wind-driven electricity Continue Reading
European Gas Notches Fresh Records as Supply Woes Mount
Sept. 3: High gas prices are a problem for Europe, says Enel’s CEO. Natural gas prices in the U.K. and the Netherlands soared to record highs as concerns over tight Continue Reading
Nord Stream 2 In Limbo As Germany Prepares To Decide On Key License
Germany’s federal networks regulator BNA said on Monday it would decide no later than January 8, 2022 whether it will certify Nord Stream 2 and issue an operating license for Continue Reading
Oil rises to one-week high as U.S. supply concerns dominate
Oil rose on Monday, supported by concerns over shut output in the United States, the world’s biggest producer, following damage from Hurricane Ida, while analysts expected a stable market in Continue Reading
Oil Rises as U.S. Supply Limps Back After Historic Ida Battering
Oil climbed above $70 a barrel in New York after three weeks of gains as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook Continue Reading
Crude oil rallies on tightening supply outlook, expected tropical storm in US
Crude oil futures were higher in midmorning Asia trade Sept. 13 on concerns about tight US supply in the aftermath of Hurricane Ida and as Tropical Storm Nicholas is expected Continue Reading
U.S. Oil Closures After Ida Are Bullish, Vitol’s Muller Says
The aftermath of Hurricane Ida has left about 1.1 million barrels of daily crude production shuttered in the Gulf of Mexico and it’s unclear when that output will return, a Continue Reading
The World’s Shippers Are Earning the Most Money Since 2008
Supply Lines is a daily newsletter that tracks trade and supply chains disrupted by the pandemic. Sign up here . The global shipping industry is getting its biggest payday since Continue Reading
The Solar Boom Has A Supply Chain Problem
Grid parity, resilient networks and strategic partnerships have spurred growth in the world’s solar panel manufacturing capacity in recent years, to 330 gigawatts (GW) in mid-2021. A Rystad Energy analysis Continue Reading
Airlines’ Debt Pile Hits $340 Billion as Covid Chokes Travel
Airlines are piling on more debt as surging coronavirus cases force travelers to cancel plans and stay home. The industry’s outstanding debt has jumped 23% since 2020 to $340 billion, Continue Reading
Middle East Oil Producers Make Surprising Pivot Towards Renewables
Weaning the world off hydrocarbons to fight climate change is this generation’s biggest challenge. It is a challenge that has pushed major OECD members to adopt far-reaching strategies, such as Continue Reading
Egypt: Petroleum Minister – President Directs Prompt Delivery of Natural Gas to Lebanon
Minister of Petroleum and Mineral Resources Tarek El Molla said President Abdel Fattah El Sisi has directed transfer of gas to Lebanon at the nearest possible time. During an interview Continue Reading
IAEA chief in Iran for talks before showdown with West
U.N. nuclear watchdog chief Rafael Grossi is set for talks in Iran on Sunday that may ease a standoff between Tehran and the West just as it threatens to escalate Continue Reading
Zimbabwe Utility to Cut Power by 12 Hours a Day Amid Shortage
The Zimbabwe Electricity Transmission and Distribution Co. said Sunday it has begun daily 12-hour power cuts due limited generation at its thermal plant and repairs on the dam at Kariba Continue Reading
China Counts Cost of Renewed Virus Shutdowns: Eco Week Ahead
Chinese data this week will show the damage done from a widespread Covid outbreak last month that partially shut the world’s third-busiest container port and sent parts of the country Continue Reading
Iran Pledges to Cooperate With U.N. Atomic Agency, Easing Nuclear Talks Threat
Iran reached an agreement Sunday with the United Nations atomic agency that will grant international inspectors access to some of the country’s nuclear-related sites, a step likely to avert a Continue Reading
China’s Poor Regions Worry About Climate Justice in Net-Zero Push
The furnaces and cooling towers on Capital Steel Campus in west Beijing used to spew toxic smoke. Today they’re nothing more than quaint paraphernalia decorating an 860-hectare park, which has Continue Reading
Hit to oil output from Ida overshadows demand impact, says Goldman
A senior U.S. envoy said on Saturday he had delivered reassurances to Ukraine and Poland on mitigating any threat posed by Russia’s Nord Stream 2 gas pipeline, but that the Continue Reading
U.S. reassures allies over Nord Stream 2 but says it’s a ‘reality’
A senior U.S. envoy said on Saturday he had delivered reassurances to Ukraine and Poland on mitigating any threat posed by Russia’s Nord Stream 2 gas pipeline, but that the Continue Reading
Forecasters: Tropical Storm Nicholas forms in Gulf of Mexico
Tropical Storm Nicholas strengthened as it headed for the Gulf Coast on Sunday, threatening heavy rain and floods in coastal areas of Texas, Mexico and Louisiana. Forecasters at the National Continue Reading
US business mood darkens as Delta variant upends forecasts
The failure by the US to bring Covid-19 cases under control is scrambling business expectations of a rapid economic revival, forcing companies to reset plans and revise forecasts as they Continue Reading
U.S. Coast Guard To Investigate Over 350 Potential Oil Spills Caused By Ida
Hurricane Ida has left a lasting wake of destruction and chaos along the Gulf Coast. The hurricane, which was a category 4 storm when it initially made landfall in Louisiana Continue Reading
Robust Gasoline Consumption Fuels Record-High U.S. Oil Demand
U.S. oil demand continues its upward trajectory—reaching a record high last week–while product inventories have fallen to the lowest levels in three years. If the demand trend holds, oil prices Continue Reading
Hurricanes Raise Risk Of Oil Spills In Gulf Of Mexico
As the latest strong storm that passed through the U.S. Gulf of Mexico showed, hurricanes are testing the resilience of offshore oil and gas facilities and pipelines. Hurricane Ida made Continue Reading
Britain announces biggest auction round in renewable energy scheme
The British government announced on Monday the biggest auction round of its renewable energy scheme, hoping to build up enough extra offshore wind capacity to power about 8 million homes. Continue Reading
Oil Prices Bounce Back As Bullish Sentiment Returns
Bullish sentiment appeared to return to markets on Friday morning as a combination of supply disruptions and an apparent detente between the U.S. and China gave oil markets hope. Oil Continue Reading
Oil Up for Third Week as USA Refinery Restarts Outpace Production
Oil futures rose Friday completing a third weekly gain as refineries in Louisiana restart and returning offshore production cannot keep pace. Oil gained a third week as investors focused on Continue Reading
Oil Rises With Investors Assessing China’s Rare Reserves Release
China Taps Crude Reserves to Combat High Prices Oil rose, paring a weekly decline, as investors assessed China’s confirmation that it had released crude from its strategic reserves in an Continue Reading