Crude oil futures dipped in mid-morning trade in Asia Dec. 31 as investors booked year-end profits after a multi-day rally that pushed prices to highs not seen in five weeks. Continue Reading
The construction crew peered into two inky shafts bored into a rocky cliff face, bracing against the bitter cold and the impending blast. Harpal Singh gave the go-ahead. The mountain Continue Reading
Sanju is on a mission. For weeks, she has traveled from village to village, urging farmers in India to stop burning stubble from harvested rice crops near New Delhi, the Continue Reading
A massive winter storm was expected to dump nearly a meter of snow on some parts of Japan, snarling transport during a peak travel period over the New Year holiday Continue Reading
Europe may be in the grips of an energy shortage and forced to reopen retired coal plants to cope but climate activists insist that it is time to part company Continue Reading
Chinese authorities have asked that state companies reduce their energy consumption and carbon dioxide emissions by 2025 compared to 2020 levels as part of China’s plan to have its CO2 Continue Reading
Highlights Average US temperature to drop into 30s F Jan. 2-3 Cold snap forecast to be short-lived in SE, NE, Texas Spot gas prices across the United States rose in Continue Reading
Sumitomo Corporation will launch a full-scale project to design and develop an ammonia-fueled dry bulk carrier jointly with Oshima Shipbuilding Co., Ltd. The ship is expected to be 229m in Continue Reading
The U.S. Department of Energy said on Thursday it had approved a release of two million barrels of crude oil to Exxon Mobil Corp (XOM.N) from its Strategic Petroleum Reserve Continue Reading
U.S. Jobless Claims Unexpectedly Decline Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast . Applications for U.S. state unemployment benefits unexpectedly fell Continue Reading
Highlights S&P Global Platts Analytics forecasts a pull of 48 Bcf for the week in progress Remaining Henry Hub winter strip tumbles The first triple-digit natural gas draw of the Continue Reading
Highlights Permian falls by five rigs, leaving 300 Haynesville at 63, highest since April 2019 Eagle Ford, Marcellus, Utica stagnant The US oil and gas rig count fell by 13 Continue Reading
Mild weather forecast for the first half of January should prevent France’s electricity grid coming under strain but the outlook thereafter is uncertain due to a decline in its nuclear Continue Reading
President Biden and Russian President Vladimir Putin warned each other of the potential for a dangerous downturn in relations if the current crisis over Ukraine further escalates, but kept a pathway open for diplomacy. Continue Reading
The US and its allies are prepared to respond “decisively” should Russia invade Ukraine, President Joe Biden told his Russian counterpart Vladimir Putin on Thursday amid mounting tensions at the Continue Reading
Highlights Significantly lower than levels in past two years Russian storage sites currently 83% full: Miller Domestic gas supply, withdrawals at 10-year high Russia’s Gazprom expects to have 1 Bcm Continue Reading
Crude oil futures rose during mid-morning trade in Asia Dec. 30, with the NYMEX crude contract on track for a seventh straight day of gains, as the ongoing Santa Claus Continue Reading
Oil held gains after a six-day advance as a bigger-than-expected decline in U.S. crude inventories added to evidence that energy demand is proving resilient in the face of the omicron Continue Reading
Highlights US crude, oil products inventories decline US crude production hits 2021 high, more growth expected Crude oil futures extended their rally Dec. 29 on a rollercoaster day for prices Continue Reading
Oil held near a one-month high after industry data pointed to another drop in U.S. crude inventories and traders bet the fast-spreading omicron variant would prove to be less severe Continue Reading
After the fracking revolution left the U.S. shale patch bleeding cash and deeply indebted. Wall Street ramped up pressure on companies to cut debt and boost shareholder value. The U.S. Continue Reading
The head of the World Health Organization said Wednesday that he’s worried about the omicron and delta variants of COVID-19 producing a “tsunami” of cases between them, but he’s still Continue Reading
Russia’s Deputy PM and top OPEC+ negotiator Alexander Novak explains in a recent interview why the group decided not to heed the U.S. call for more production Novak: Oil production Continue Reading
Iran said Thursday it launched a rocket with a satellite carrier bearing three devices into space, though it’s unclear if any of the objects entered orbit around the Earth. The Continue Reading
AJ-13 is the fifth and final well in the Abu Sennan 2021 drilling program. United Oil & Gas PLC (AIM: UOG) announced on Wednesday that the Al Jahraa-13 (AJ-13) development Continue Reading
An Iraqi oil pipeline burns after sabotage by anti-U.S., pro-Saddam militants Sept. 8, 2003 near Kirkuk, in northern Iraq. Credit: Scott Peterson/Getty Images It’s 6 p.m. and the pink-tinged skies Continue Reading
Royal Dutch Shell Plc has been ordered by a South African court to temporarily halt an offshore seismic survey after local communities took legal action to block the project. The Continue Reading
Highlights Average year crude production slightly below 2020 Production from JVs account for 60% of total production Iranian condensates boost output for third straight month Venezuelan state-owned PDVSA and its Continue Reading
Ecuador’s heavy-crude oil pipeline will restart pumping on Dec. 31 following maintenance to solve issues caused by erosion in the country’s Amazon region, while exports of Napo crude will begin Continue Reading
Oil prices eased on Thursday after the world’s top importer China cut the first batch of crude import allocations for 2022, offsetting the impact of U.S. data showing fuel demand Continue Reading
Carbon emissions in China could peak two years earlier than planned as the economy slows and Beijing prioritizes renewable energy, according to a leading government think tank. China has pledged Continue Reading
In the central Chinese city of Xi’an, 13 million people are dealing with one of the world’s strictest coronavirus lockdowns. Residents have been ordered to stay in their homes since Monday, with Continue Reading
China’s Ministry of Commerce has issued 12.65 million mt of oil product import quotas in the first batch for 2022, sources with knowledge about the matter said on Dec. 30. Continue Reading
The average number of daily confirmed coronavirus cases in the United States hit a record high of 258,312 over the past seven days, a Reuters tally showed on Wednesday, as Continue Reading
Oil drillers in the biggest U.S. fields are shouldering record costs at the same time that some banks are increasingly reluctant to loan money to the sector, according to the Continue Reading
The coldest US state of Alaska has recorded its hottest-ever December day, amid an unusual winter warm spell. Temperatures soared to a record 19.4C (67F) on the island of Kodiak Continue Reading
U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending December 24, 2021 which was 115,000 barrels per day less than the previous week’s average. Continue Reading
The biggest names in the auto industry are racing to build battery plants in the United States. The Department of Energy’s Vehicle Technologies Office has listed 13 new battery plant Continue Reading
EIA: commercial crude inventories fell by 3.6 million barrels Gasoline inventories decreased by 1.5 million barrels In middle distillates, the EIA estimated an inventory draw of 1.7 million barrels Crude Continue Reading
Internal rates of return have fallen this month across both oil and dry gas basins in the US, yet the rig count has increased steadily throughout December despite lower commodity Continue Reading
US Gulf Coast FOB daily export cargo values nosedived to below $30/MMBtu during the week of Dec. 22-29, right after rising to the highest level on record, as they continued Continue Reading
Oil drillers in the biggest U.S. fields are shouldering record costs. Oil drillers in the biggest U.S. fields are shouldering record costs at the same time that some banks are Continue Reading
The agreement has the potential to redefine methane detection and mitigation efforts. ExxonMobil has announced that it has agreed to work with Scepter Inc to deploy advanced satellite technology and Continue Reading
With a caseload nearly twice that of the worst single days of last winter, the United States shattered its record for new daily coronavirus cases, a milestone that may still Continue Reading
European gas prices slumped for a sixth day, the longest losing streak in more than a year, as cargoes of the liquefied fuel head to the continent just as industrial Continue Reading
France is seeing a “tsunami” of COVID-19 infections, with 208,000 cases reported over the past 24 hours, a new national and European record, Health Minister Olivier Veran told lawmakers on Continue Reading
Russian inflation rose faster than analysts forecast in December, staying near the six-year high that has prompted the central bank to warn more key-rate increases may be needed to tame Continue Reading
A flotilla of liquefied natural gas (LNG) tankers from the U.S. has started to arrive on European shores Bloomberg NEF’s Andrew Hill: Europe’s gas problem may not go away in Continue Reading
Highlights Part of technical preparations ahead of commercial launch Nord Stream 2 can help ‘stabilize’ European prices: Putin First string of new pipeline filled with gas in October The operator Continue Reading
Commissioning, upscaling of Ett gigafactory to continue through into 2022 Company to boost output capacity at Ett to 60 GWh/year over next few years Swedish battery maker Northvolt assembled its Continue Reading
