Oil took a fresh knock, extending a retreat from a seven-year high in October, as China said that it’s releasing some crude from strategic reserves days after the U.S. invited Continue Reading
Oil prices slid to six-week lows on Thursday as China said it was moving to release strategic reserves after a Reuters report that the United States was asking large consuming Continue Reading
Crude oil prices gained today after the Energy Information Administration reported a crude oil inventory draw of 2.1 million barrels for the week to November 12. At 433 million barrels, Continue Reading
Oil tumbled to the lowest in nearly six weeks as investors considered the prospect of a release of crude supplies from strategic reserves. Futures in New York closed down 3% Continue Reading
The Biden administration has asked some of the world’s largest oil consuming nations – including China , India and Japan – to consider releasing crude stockpiles in a coordinated effort Continue Reading
The hottest summer days in the Sierra Nevada in California greatly increase the risk that wildfires will ignite or spread, and as the planet keeps warming the risks will increase Continue Reading
While the impact of fossil fuels on the environment is commonly understood, casual observers may not be aware of the environmental footprint of renewable energy due to its heavy reliance Continue Reading
Huge spending by governments kept the world economy afloat during the pandemic as officials mobilized a fiscal response not seen since World War Two to bolster household incomes and give Continue Reading
A hacking group “sponsored” by Iran’s government is launching disruptive cyberattacks against a wide range of U.S. companies, including healthcare providers and transportation firms, according to a cybersecurity alert published Continue Reading
Iran’s stockpile of near-weapons-grade nuclear fuel has jumped significantly, according to a confidential report by the United Nations atomic agency that found Tehran has almost doubled its output of highly Continue Reading
US and UK authorities have said Iran is conducting an “ongoing” campaign of ransomware and other cyber attacks on US critical infrastructure and Australian organizations that began in March. In Continue Reading
The Abu Dhabi National Oil Company (ADNOC) is set to imminently award engineering and construction contracts for a major offshore natural gas field to increase gas production and exports, sources Continue Reading
Unprecedented droughts are drying up farm land, driving migration to cities, and compounding economic hardships and instability. The Golaka spring ran dry in August 2021, outside the Bakr Bayf village Continue Reading
The newly resuscitated Iraq National Oil Company (INOC) has been authorised by the government in Baghdad to directly negotiate with U.S. oil giant, Chevron, for it to develop the long-delayed Continue Reading
Schools were closed indefinitely and some coal-based power plants shut down as the smog-shrouded Indian capital and neighboring states invoked harsh measures Wednesday amid considerations of a lockdown in New Continue Reading
India is temporarily shutting down half of the coal-fired power plants around Delhi, but this has had nothing to do with any “coal phase-down” pledges. The coal power plants will Continue Reading
Air pollution remained extremely high in the Indian capital on Thursday, a day after authorities closed schools indefinitely and shut some power stations to reduce smog that has blanketed the Continue Reading
Amidst consistent underperformance since this year, the Federal Government has indicated that it was rebuilding the upstream sector to ramp up crude oil production by 100 percent to 3.0 million Continue Reading
Venezuela’s broken oil industry is still struggling to boost production, and the new target set by PDVSA of 1 million barrels per day by the end of the year is Continue Reading
SBM Offshore has been awarded contracts to perform FEED for an FPSO for the Yellowtail development project offshore Guyana. FPSO operator SBM Offshore has been awarded contracts to perform front-end Continue Reading
Rystad: Costs within the upstream sector have come down considerably in 2021 New oil becomes more competitive and significantly cheaper to produce Deepwater and oil sands producers have significantly lowered Continue Reading
China has moved in recent weeks to squash the surge in coal prices with government intervention Chinese Vice-Premier Han Zheng: The crisis is easing, and the government efforts to secure Continue Reading
During a virtual meeting this week, U.S. President Biden has asked his Chinese counterpart to release more crude oil from its reserves China released gasoline and diesel from its reserves Continue Reading
The logo for ConocoPhillips is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 13, 2020. REUTERS/Brendan McDermid ANCHORAGE, Alaska, Continue Reading
China’s crude imports fell to 39-month low, reflecting stock draws, weak refinery demand and a likely delay in the reporting of discharged cargoes over the National Day holidays. Deliveries to Continue Reading
The Biden administration’s auction of oil drilling rights in the U.S. Gulf of Mexico generated more than $190 million in high bids, bringing in more money for taxpayers than any Continue Reading
Leaders of the United States, Canada and Mexico will meet for the first time in five years on Thursday to promote economic integration, but tensions over the auto industry, ‘Buy Continue Reading
At this month’s climate talks in Scotland, a lot of time was spent condemning the shortage of money available to fight global warming. Some of the loudest complaints came from Continue Reading
President Biden says he wants to save the planet and save union jobs. The electric-vehicle tax credit in his social spending package shows how those aims can sometimes conflict. The proposal Continue Reading
President Biden on Wednesday helped christen a General Motors factory that manufactures electric vehicles, zipping around in a battery-powered Hummer to highlight a transition to energy-efficient cars and trucks that Continue Reading
U.S. crude oil refinery inputs averaged 15.4 million barrels per day during the week ending November 12, 2021 which was 32,000 barrels per day more than the previous week’s average. Continue Reading
Demand for flights is set to soar this winter as travelers finally have a chance to get back on planes after almost two years of covid restrictions Airlines are having Continue Reading
Highlights Major made offers for nearly 100 offshore Texas blocks BP bulking up in Norphlet play but also remote Lloyd Ridge Small players active on shallow-water Continental Shelf ExxonMobil looks Continue Reading
U.S. shale producers have added extra drilling rigs much more slowly than during the recoveries that followed the last two oil price slumps, limiting output and helping push local prices Continue Reading
President Biden’s calls on OPEC to increase production were received rather negatively by the U.S. shale patch which believes it can take care of the supply problem While some observers Continue Reading
A total of 33 companies participated in the lease sale, submitting $198,511,834 in total bids. The Bureau of Ocean Energy Management (BOEM) has announced that Gulf of Mexico Lease Sale Continue Reading
The widespread flooding in British Columbia has forced Trans Mountain Pipeline Corp. to shut down its pipeline system and suspend work on its expansion project. The deadly storm that hammered Continue Reading
Merkel speaks to Lukashenko, second time this week Germany reports higher arrivals from Belarus via Poland At least eight migrants dead in tug-of-war between East and West New crisis at Continue Reading
European gas prices surged again on Wednesday after a delay in the approval process for a major new pipeline from Russia, which German government sources said might not now be Continue Reading
Hundreds of migrants who were camped in the cold on the Poland-Belarus border have been moved to a nearby warehouse in Belarusian territory, reports said Wednesday, with some still harboring Continue Reading
Germany is in the grip of a “dramatic” fourth Covid wave, Chancellor Angela Merkel has said on the eve of a crisis meeting with regional leaders. Daily infections hit a Continue Reading
High energy prices drove inflation in the UK to a 10-year high of 4.2 percent in October, and energy is expected to fuel additional price hikes next year when the Continue Reading
Belarus is reducing the flow of oil via the Druzhba pipeline from Russia to Poland for three days due to “unplanned maintenance” while the migrant crisis on the Belarus-Poland border Continue Reading
Ireland is to reintroduce Covid-19 restrictions this week, including a return to working from home wherever possible and a midnight curfew for pubs and clubs, in an effort to curb Continue Reading
President Aleksandr G. Lukashenko of Belarus, whom the E.U. accuses of engineering a migrant crisis on the border with Poland, could face a serious headache if asylum seekers try to Continue Reading
A crowd of migrants trying to cross a border has come to seem appallingly familiar in recent years. We have seen masses of desperate people seek refuge in strange lands: Continue Reading
Crude oil futures were lower during mid-morning trade in Asia Nov. 17, after concerns of tight supply eased amid expectations of increasing US shale activity and reports of the US Continue Reading
El-Erian: demand destruction could keep oil from reaching $100 per barrel El-Erian: nobody had expected demand to rebound so quickly and so strongly Uncertainty about demand could cap oil prices Continue Reading
Reduced capital investment in upstream sources for new supplies of petroleum, match the similar scenario of the 2008-9 financial crisis Spending on fossil fuels has declined precipitously from 2014, reaching Continue Reading
Oil retreated as investors weighed both the odds that the Biden administration will tap emergency reserves in a coordinated move along with nations such as China and a mixed report Continue Reading
