Gas Prices Are Exploding But North Sea Drillers Struggle To Profit
Natural gas producers in the North Sea are in a rush to increase production as a supply squeeze lifted gas prices in the UK and Europe to record highs. But Continue Reading
Oil Fluctuates With U.S. Outages Weighed Against Demand Concern
Oil swung between gains and losses with continued supply disruption in the U.S. weighed against an uncertain demand outlook in some regions. Futures lost 0.2% in New York, erasing earlier Continue Reading
Oil steady as Delta variant weighs on demand recovery
Oil prices remained steady on Thursday as the Delta variant of the coronavirus continues to weigh on the demand outlook, offsetting a decline in U.S. Gulf of Mexico output because Continue Reading
Oil prices to continue to fall as pandemic worries slow global oil demand growth: EIA
EIA cuts WTI price forecast 24 cents/b for 2021 Trims 2021 global oil demand estimate by 250,000 b/d US gasoline prices remain high but seen falling in Q4 With no Continue Reading
U.S. Natural Gas Prices Jump 8% On Tight Supply
After settling 3% lower on Tuesday, U.S. natural gas prices surged by 8% early on Wednesday to new multi-year highs amid tighter supply and low storage levels in view of Continue Reading
Uranium Surges to Six-Year High as Fund Buys Up Physical Supply
Uranium, the commodity used to fuel nuclear power plants, has surged to the highest level since 2015 due in part to a single fund aggressively cornering the physical market. Investment Continue Reading
World’s Top Oil Guzzlers Surpass Pre-Pandemic Consumption
Some of the world’s biggest economies are seeing oil consumption turn the corner and even surpass pre-pandemic levels as falling Covid-19 infection rates drive a recovery in activity. Oil demand Continue Reading
Oil prices could hit $200/b without new investments in upstream sector: Omani minister
Highlights Minister’s remarks come in response to IEA’s net-zero scenario IEA’s call to end oil and gas investments ‘extremely dangerous’ Oil and gas demand will last decades, UAE minister says Continue Reading
May Non-OPEC Oil Production Up slightly
A guest post by Ovi Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIAʼs International Energy Statistics Continue Reading
World’s Largest Carbon-Sucking Plant Starts Making Tiny Dent in Emissions
The world’s largest direct-air capture facility, Orca, right, at the Hellisheidi geothermal power site, in Iceland. Startups Climeworks and Carbfix are working together to store carbon dioxide removed from the Continue Reading
THE METHANE HUNTERS
Frackers in America’s largest oil field are letting massive amounts of natural gas spill into the atmosphere. Scientists and activists are trying to find the leaks and get them plugged Continue Reading
An Extremely Low-Tech Solution To Our Energy Storage Problem
In the past decade, renewable energies have advanced leaps and bounds and dramatically dropped in price. Wind and solar have become scalable, tradable as commodities, and have even outgrown their Continue Reading
OPEC+ crude output up slightly in August, hampered by outages: S&P Global Platts survey
Highlights Alliance fails to take full advantage of rising quotas Iraq, Russia, Saudi Arabia, UAE post biggest increases Kazakhstan maintenance, Nigeria oil spill limit gains OPEC and its allies nudged Continue Reading
Protests Stop Tanker From Loading At Libya’s Largest Oil Terminal
The relative stability of Libya’s crude oil production and exports from recent months could abruptly end after protests erupted at several key crude terminals, including one that prevented a tanker Continue Reading
Khor Mor expansion gets $250 million boost from U.S.
The Pearl Petroleum consortium led by the UAE’s Crescent Petroleum and Dana Gas has signed a $250 million financing agreement with the U.S. International Development Finance Corporation (DFC) to fund Continue Reading
US-Iran nuclear talks enter ‘make-or-break’ month as 1.7 mil b/d hangs in balance
Highlights US envoy presses EU, Russia to help revive stalled talks Platts Analytics still sees deal for sanctions relief by December Collapse or further delay sets up tight oil market Continue Reading
Mobileye unveils electric AV to be used in driverless ride-hailing services
Mobileye, an Intel company, unveiled the 6-passenger, road-ready electric autonomous vehicle (AV) that will be used for commercial driverless ride-hailing services in Tel Aviv and Munich starting in 2022. Equipped Continue Reading
Demonstrators Halt Tanker Loading at Libya Oil Port
Demonstrators have interrupted loading of an oil tanker and taken over the control room at Libya’s biggest crude terminal, as a fresh wave of protests across the nation’s ports threaten Continue Reading
IRAQ DATA: August oil output up 1.9% on month, below OPEC+ quota
Highlights Aug output at 3.961 mil b/d vs 3.886 mil b/d in July: SOMO Aug quota rose to 4.061 mil b/d from 4.016 mil b/d in July Iraq’s OPEC+ quota Continue Reading
Ford to stop manufacturing cars in India – sources
Ford Motor Co will stop manufacturing cars in India and shut down its plants in the country, two sources told Reuters, becoming the latest automaker to quit a market still Continue Reading
‘Carbon Neutral’ LNG Demand Soars in Asia Despite Criticism
Liquefied natural gas shipments tagged “carbon neutral” are gaining popularity among Asian buyers, despite criticism that the offsets used to justify the label don’t actually cancel out planet-warming emissions generated Continue Reading
China Sees Opportunity As Venezuela’s Oil Industry Hits Rock Bottom
Venezuela’s near-collapse and strict U.S. sanctions are creating an opportunity for Russia, Iran and China to strengthen their presence in Latin America, a region that for decades has been under Continue Reading
Mexico Lowers Pemex Oil Output Forecast After Platform Woes
Mexico cut its forecast for oil production at Petroleos Mexicanos next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state Continue Reading
Chinese Coal Prices Hit Record Highs
Remember when China vowed last year to hit peak carbon emissions in 2030 and to reach carbon neutrality in 2060? Maybe it will (spoiler alert: it won’t)… … but long Continue Reading
Significant Onshore Australia Gas Discovery Made
Mineral Resources Limited revealed that recent drilling activity led to a ‘significant’ gas discovery at the Lockyer Deep 1 project in the onshore Perth Basin, Australia. Mineral Resources Limited (MRL) Continue Reading
Biden solar energy goals may depend on Ohio factory
On the outskirts of Toledo, a short drive from Interstate 90, thousands of glass panels rumble along assembly lines at a factory that will help determine whether the Biden administration Continue Reading
Natural Gas Jumps to 7-Year High as Winter Supply Worries Mount
U.S. natural gas futures soared to a seven-year high amid escalating concerns about tight supplies heading into the winter-heating season. Gas prices are soaring across the northern hemisphere as anxiety Continue Reading
U.S. economy “downshifted slightly” in August -Fed’s Beige Book
The U.S. economy “downshifted slightly” in August as the renewed surge of the coronavirus hit dining, travel and tourism, the Federal Reserve reported Wednesday, but the economy overall remained in Continue Reading
Three-quarters of U.S. Gulf of Mexico oil output remains shut
More than three-quarters of the U.S. Gulf of Mexico’s offshore oil and natural gas output remained shut on Wednesday as the fallout from Hurricane Ida continued to hamper production. Some Continue Reading
U.S. university, energy firm hail test of energy fusion project
Massachusetts Institute of Technology and Commonwealth Fusion Systems successfully tested the world’s most powerful high-temperature superconducting magnet in a step toward building a fusion power plant to generate carbon-free power. Continue Reading
COVID-19 surge in the US: The summer of hope ends in gloom
In this Aug. 17, 2021, file photo, patient with COVID-19 on breathing support lies in a bed in an intensive care unit at the Willis-Knighton Medical Center in Shreveport, La. Continue Reading
Report: Solar could power 40% of US electricity by 2035
Solar energy has the potential to supply up to 40% of the nation’s electricity within 15 years — a 10-fold increase over current solar output, but one that would require Continue Reading
Gulf Oil Spill Shows Risk From 18,000 Miles of Abandoned Pipe
An oil spill unleashed by Hurricane Ida is highlighting longstanding concerns about the more than 18,000 miles of decommissioned pipelines that still snake through the Gulf of Mexico, even though Continue Reading
Exxon to Have Gas Graded for Methane Leaks Amid Climate Push
Exxon Mobil Corp. will offer some of its Permian Basin shale gas for certification by a nonprofit that assesses methane leaks, a move that comes as the oil industry faces Continue Reading
Hurricane Ida’s Fallout Continues to Cripple U.S. Oil Production
Nearly four-fifths of U.S. oil and gas production in the Gulf of Mexico remains offline, more than 10 days after Hurricane Ida tore through Louisiana, as companies struggle to restart Continue Reading
‘Diesel vs doughnuts’: new biofuel refineries squeeze US food industry
Fuel refiners including Marathon Petroleum and ExxonMobil are adding “renewable diesel” to their product mix in response to government incentives for cleaner fuels. The raw materials are typically edible oils Continue Reading
Apple Car executive defects to Ford in blow to automotive ambitions
An executive with responsibility for Apple’s secretive car project has left for Ford in a stinging departure that potentially spells the end of the iPhone maker’s automotive ambitions. Doug Field, Continue Reading
Short-Term Energy Outlook
Forecast Highlights Global liquid fuels The September Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty related to the ongoing recovery from the COVID-19 pandemic. U.S. economic activity continues to Continue Reading
Is North Dakota’s Oil Industry Finally Bouncing Back?
Since 2010, North Dakota’s oil industry has boomed, putting McKenzie on the map as the fastest-growing county in the U.S. Following a year and a half of pandemic, the state’s Continue Reading
The Gulf Of Mexico Just Saw Its Worst Energy Disruption Since Hurricane Katrina
Hurricane Ida’s disruption to the U.S. offshore energy production in the Gulf of Mexico is the worst in 16 years. It has already stressed domestic and global supply chains, further Continue Reading
US natural gas storage fields likely to post another injection below average levels
US natural gas storage fields likely added about half the five-year average in the week ended Sept. 3 as offshore production has been slow to recover following Hurricane Ida and Continue Reading
Intel CEO predicts chips will be more than 20% of premium vehicle BOM by 2030
At IAA Mobility, during his first in-person keynote since taking the helm of Intel in February, CEO Pat Gelsinger predicted that semiconductors will account for more than 20% of the Continue Reading
EIA Sees Not Much In The Way Of U.S. Oil Production Gains
The Energy Information Administration has estimated that U.S. crude oil production isn’t going to see much of a rebound for the rest of the year, according to the latest Short Continue Reading
New TPI Points to Lower Texas Upstream Employment
The latest Texas Petro Index points to lower upstream oil and gas industry employment than other sources have published, the Texas Alliance of Energy Producers has revealed. The latest Texas Continue Reading
The Next Weeks Are Critical for Climate Diplomacy
There’s a back-to-school feeling in the air as summer draws to a close in the northern hemisphere. Pressure is mounting on governments to secure a major global breakthrough on climate Continue Reading
Europe Is Subsidizing Its Way Into Electric Vehicle Leadership
As Europe looks to lead the world in electric vehicle (EV) uptake, many governments are incentivizing the switch from traditionally-fuelled cars to electric alternatives, hoping to end the sale of Continue Reading
Shell weighs ‘jab or job’ policy for employees -document
Royal Dutch Shell is considering making it mandatory for workers in some operations to get COVID-19 vaccinations or risk being fired, an internal company document seen by Reuters shows. The Continue Reading
Europe Is Key Staging Ground for Climate Lawyers Dogging Big Oil
More lawsuits seeking to curb carbon dioxide emissions are likely in Europe, spurred by a recent report that makes the role of human activity “unequivocal” in global climate change. Activists Continue Reading
Brent Oil Rises After Strong China Trade Brings Demand Optimism
Brent oil edged higher after an unexpected surge in Chinese exports to a record added to positive economic signs emerging from key energy consumers. Futures in London rose 0.4% to Continue Reading
Oil mixed, fears of slower demand weigh on sentiment
Oil prices were mixed on Tuesday as Saudi Arabia’s sharp cuts in crude contract prices for Asia sparked fears over slower demand, but strong Chinese economic data capped losses. Brent Continue Reading