For the past year, oil consuming countries have become increasingly anxious at crude’s resurgence: first to $50 a barrel, then $75 and now to more than $85. And when Vladimir Continue Reading
Refiners are enjoying hefty margins – a welcome change after a challenging 2020. Fuel consumption is soaring around the globe, and with millions of barrels of daily refining capacity offline, Continue Reading
Oil posted a monthly gain of 11% on signs that consumption is outpacing supply and draining stockpiles. Futures in New York rose 0.9% on Friday. Oil’s advance this month shows Continue Reading
Oil rose further above $84 a barrel on Friday, within sight of a multi-year high hit this week, as expectations, OPEC and its allies will keep supply tight countered rising Continue Reading
Leaders of Europe’s biggest oil and gas companies said political leaders attending U.N. climate talks that start this week must make carbon markets more effective and that only governments can Continue Reading
Leaders from the Group of 20 major economies are split over phasing out coal and limiting global warming to 1.5 degrees Celsius, officials said, throwing into doubt whether ambitious climate Continue Reading
Iran, the country holding the world’s second-largest natural gas reserves, risks turning into a net gas importer The country must secure some $50 billion in investment to develop its natural Continue Reading
Displaced Iraqis from the village of Mansuriya, Diyala province, where fighting with militant jihadists has been raging, gather on the side of a road as they are heading to the Continue Reading
Brazil’s carbon dioxide emissions soared last year due to greater deforestation in regions including the Amazon, dealing a fresh blow to President Jair Bolsonaro’s environmental credentials. Emissions rose 9.5% versus Continue Reading
Exxon Mobil Corp on Friday pledged to revive its long-dormant share repurchase program next year, bolstered by a jump in profit and improved cash flow in the third quarter as Continue Reading
Consumer prices rose at the fastest pace in 30 years in September while workers saw their biggest compensation boosts in at least 20 years, according to new government data released Continue Reading
August 2021 In August 2021, dry natural gas production increased year over year for the month, for the fifth consecutive month. The preliminary level for dry natural gas production in Continue Reading
The number of oil and gas rigs in the United States rose by 2 this week, according to Baker Hughes . The total rig count is now at 544, up Continue Reading
Big Oil majors, including Exxon, BP, Shell, and Chevron, may be subpoenaed to turn over financial documents as part of a congressional probe into alleged disinformation about the effect of Continue Reading
U.S. coal miners are enjoying the surge in demand for the fossil fuel, with almost all of their production through the end of next year—and some into 2023 even—already sold, Continue Reading
Despite high oil prices, capital discipline has held drilling and completion activity in check as most public operators have focused on paying down debt and returning cash to shareholders instead Continue Reading
U.S. residential propane prices stood at their highest level since 2011 at the start of the winter heating season, as global demand grows and supply tightens, the Energy Information Administration Continue Reading
US LNG feedgas demand hit the highest level in more than six months on Oct. 29 at 11.8 Bcf/d, translating to near 100% liquefaction terminal utilization amid commissioning of a Continue Reading
The U.S. Supreme Court on Friday agreed to hear a bid by states including coal producer West Virginia and industry groups to limit federal power to regulate carbon emissions from Continue Reading
Exxon Mobil Corp. and Chevron Corp. on Friday disclosed plans to expand drilling in the top U.S. shale basin after posting their biggest quarterly profits in years. Latecomers to the Continue Reading
Britain will launch a 160 million pound ($220 million) fund to help developers of floating offshore wind technology as part of efforts to ramp up renewable power and meet climate Continue Reading
President Emmanuel Macron has warned that an energy crisis threatens the world’s post-pandemic recovery, calling for leaders at a G20 summit in Rome this weekend to work together to stabilize Continue Reading
Gas prices in the UK and continental Europe tumbled by as much as a fifth on Friday on further signs Russia will increase exports to the region after restricting supplies Continue Reading
On the eve of a pivotal global climate summit, the world’s oil giants have been swamped by calls from activists, investors and lawmakers to move faster to transform their businesses, cut Continue Reading
Stocks At Cushing Have Halved Since April 2020 Market Rout Storage at Cushing alone has the potential to really rally the market to the moon The WTI-Brent spread is now Continue Reading
Oil is on course for a monthly gain of about 10% on sustained signs that consumption is outpacing supply, draining stockpiles. West Texas Intermediate was little changed after a volatile Continue Reading
Oil rose further above $84 a barrel on Friday, within sight of a multi-year high hit this week, as expectations OPEC and its allies will keep supply tight countered rising Continue Reading
WTI rose again Thursday on an OPEC Joint Technical Committee forecast. Oil eked out a gain with OPEC and its allies expecting a tighter global oil market in the fourth Continue Reading
Oil fell for a second day as investors weighed the possibility that Iran may revive exports after a build in U.S. crude inventories. West Texas Intermediate pared some earlier declines, Continue Reading
Almost a year into a global chip shortage, the problems are increasing for many customers as delays get even longer and sales are lost. Manuel Schoenfeld placed an order in Continue Reading
Supply chains, which account for 80 percent of the world’s total carbon emissions, would require as much as $100 trillion of investment if they are to become net-zero emission by Continue Reading
China and India cast a pall over the opening of the COP26 summit in Glasgow when they rejected calls to set tough new climate targets, calling into question whether the Continue Reading
China has pledged to reach net-zero carbon emissions by 2060, although it has not outlined exactly how it will get there and is planning an additional 60 coal plants Saudi Continue Reading
Governments currently plan to allocate an estimated US$470 billion for clean energy investment between now and 2030, up by 20 percent compared to plans in July, the International Energy Agency Continue Reading
The world’s 20 richest countries will commit this weekend to tackle the existential threat of climate change, paving the way for more detailed action at a UN climate change summit Continue Reading
Leaders from the Group of 20 major economies are split over phasing out coal and limiting global warming to 1.5 degrees Celsius, officials said, throwing into doubt whether ambitious climate Continue Reading
Gulf oil producers present big renewables plans ahead of COP26 Oil remains key, but NOCs look to offset a large part of emissions Renewables investment fits in long-term low-carbon energy Continue Reading
Highlights Joint Technical Committee discussed bearish demand scenario: delegate OPEC+ ministers set to meet Nov. 4 to discuss December output Coalition under pressure from consumers to further boost production OPEC Continue Reading
An OPEC+ committee trimmed its forecasts for global oil demand growth this year to 5.7 million barrels per day from 5.8 million, two sources said, amid a continuing strong recovery Continue Reading
In this Sept. 9, 2021 file photo, pedestrians walk near a poster asking for the freedom of Colombian businessman and Venezuelan special envoy Alex Saab, and that reads in Spanish Continue Reading
Chinese coal futures have lost nearly half of their value in the past seven days The artificial 440 yuan price target will apply to term supplies from coal mines to Continue Reading
Coal futures extended a dramatic decline as China’s government said there’s further room for prices to fall, ratcheting up interventions in the market aimed at easing an energy crisis. Production Continue Reading
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjust coal prices after recent investigations Continue Reading
As governments and companies globally rush to install as much renewable energy capacity as possible to cut carbon emissions, areas often not suitable for solar arrays or wind farms are Continue Reading
China’s biggest steelmaking hub Tangshan has ordered steel output curbs from Oct. 28 to tackle worsening air quality in the city, forcing some 19,000 mt/day of capacity to close for Continue Reading
Executives from some of the world’s biggest oil companies denied in U.S. congressional testimony on Thursday that they continue to misinform the public about the role of fossil fuels in Continue Reading
President Joe Biden’s point-person for clearing the supply-chain bottleneck in southern California hailed a new agreement that will fast-track multiple logistics projects in the Golden State. The Emerging Projects Agreement Continue Reading
Jobless Claims Fall as U.S. Posts Weakest GDP of Recovery U.S. economic growth slowed more than expected in the third quarter to the softest pace of the pandemic recovery period Continue Reading
The U.S. economy grew at the slowest pace of the recovery in the third quarter, but economists expect strong consumer demand and an easing pandemic to boost growth in the Continue Reading
Jobless Claims Fall as U.S. Posts Weakest GDP of Recovery U.S. economic growth slowed more than expected in the third quarter to the softest pace of the pandemic recovery period Continue Reading
