Oil May Hit $380 Per Barrel
World oil prices could hit $380 per barrel in 2050, according to one scenario published in a recent Lukoil report. World oil prices could hit $380 per barrel in 2050. Continue Reading
Crude oil futures plunge at start of new week amid COVID-19 surge
Crude oil futures started a new trading week sharply lower during mid-morning Asian trade Dec. 20 as bearish pressures continued to build with COVID-19 cases around the world still climbing Continue Reading
Brent Crude Slides More Than 5% on Omicron, U.S. Economic Hits
Oil extended declines — falling more than 5% — hampered by the rapid spread of the omicron virus variant and turmoil for President Joe Biden’s economic plans. Futures in London Continue Reading
Tight U.S. Oil Inventories Prop Up Oil Prices
Robust gasoline demand and tight crude oil inventories have kept crude prices from falling further IEA: surge in Omicron cases may temporarily slow the recovery in crude demand U.S. gasoline Continue Reading
Most of the World’s Vaccines Likely Won’t Prevent Infection From Omicron
A growing body of preliminary research suggests the Covid vaccines used in most of the world offer almost no defense against becoming infected by the highly contagious Omicron variant. All Continue Reading
Oil majors under pressure as activists circle
For decades campaigners have picketed oil and gas offices, blockaded refineries and disrupted operations. Now the energy sector is facing a new kind of activism: from its own shareholders. Over Continue Reading
Cities Around The World Are Trying To Cut Out Natural Gas
The New York City Council moved to ban natural gas hookups for new buildings this week as part of its plans to decarbonize A large portion of a cities emissions Continue Reading
Humanity should not test whether Antarctica’s ice will hold out
The world’s massive ice stores are melting, and researchers are only beginning to evaluate what that means. This is but one of so many signals that climate change will not Continue Reading
Libya Mulls Bonuses for Oil Firms in Bid to Boost Output
Libya may introduce contracts with private oil companies that would give bonuses to those that meet targets and penalize those that don’t, as the OPEC member tries to raise output Continue Reading
Iran’s Top Diplomat in Yemen Leaves the Country
Iran’s top diplomat in Yemen flew out of the country on Saturday in an agreement between Houthi militants controlling the capital and Saudi Arabia, according to regional officials. Hassan Irloo, Continue Reading
Inside the Deadly Water Crisis Threatening Iran’s Leadership
The worst drought in decades has led to protests as climate change exposes decades of policy failure. Iranians flooded the barren riverbed of the Zayandeh Rud, in the ancient town Continue Reading
Dubai International Airport hits 100% operational capacity, set to return to pre-pandemic levels
Highlights Dubai Airports revises up its forecast for 2021 to 28.9 mil passengers Dubai International handled 25.9 mil passengers in 2020, down 70% on 2019 Middle East jet fuel demand Continue Reading
Nigeria: Climate Change Poses Serious Threat to Nigeria’s Huge Oil Production
A new study by risk consultancy Verisk Maplecroft has revealed that Nigeria may face difficulty producing its huge oil and gas reserves. The study states that Africa’s number two exporter Continue Reading
Himalayan Glaciers Are Melting at Furious Rate, New Study Shows
Glaciers across the Himalayas are melting at an extraordinary rate, with new research showing that the vast ice sheets there shrank 10 times faster in the past 40 years than Continue Reading
In China, Job Cuts Mount in Sectors Hit by Tighter Regulations
Chinese companies are laying off tens of thousands of workers as Beijing’s regulatory clampdowns weigh on the technology, education and property sectors, which in many cases offered higher salaries than Continue Reading
Coal Use Is Reaching Record Levels In India And China
The IEA is calling on China and India to put their climate pledges into action. The agency argues that there is a disconnect between the commitments made by both countries, Continue Reading
Malaysia Airlines completes first flight with sustainable aviation fuel
National carrier Malaysia Airlines has completed its first flight using sustainable aviation fuel and plans to make SAF a greater part of its fuel choice for regular flights by 2025, Continue Reading
CHINA DATA: Nov oil product exports at 2.35 mil mt, higher than expected
Highlights Jan-Nov exports at 38.5 mil mt, exceeds 2021 export quotas Exports include quota-free re-export barrels Gasoil exports rise as oversupply at home China’s gasoline, gasoil and jet fuel exports Continue Reading
Electric Cargo Planes: The Next Stage Of Amazon’s Delivery Transformation
Experts are predicting that air taxis could be closer to becoming a reality as battery tech and autonomous flight becomes more advanced. Electric aircraft startups are already making major waves Continue Reading
Biden Climate Agenda Now Hinges on Rules Exposed to Rewrite
President Joe Biden will need to rely far more on regulation to meet his promise to cut greenhouse gas emissions in half by 2030, after his roughly $2 trillion economic Continue Reading
Moderna Says Its Booster Significantly Raises Antibodies Against Omicron
A booster shot of the Moderna coronavirus vaccine significantly raises the level of antibodies that can thwart the Omicron variant, the company announced on Monday. The news arrives as Omicron Continue Reading
Less than a third of people have boosters in the U.S., and some medical experts are calling for more urgency
Officials and public health experts are strengthening their calls for people to get booster shots as the omicron variant proliferates across the United States, where less than a third of Continue Reading
Cyber Pirates Could Hold The Renewable Revolution For Ransom
Cybersecurity risks to critical infrastructure came to the forefront this year when hackers took over the Colonial Pipeline. The renewable revolution is especially vulnerable to cyber attacks, as well. Wind Continue Reading
Russian gas exports to Europe via Yamal pipeline fall again
Russian natural gas deliveries to Germany through the Yamal-Europe pipeline have fell again on Sunday after rising briefly from Saturday levels, data from German network operator Gascade showed. By midday, Continue Reading
Europe Braces for Energy Crunch This Week as Deep Freeze Sets in
Europe is bracing for energy shortages this week as freezing weather is set to boost demand at a time supply just can’t keep up. Temperatures are forecast to fall below Continue Reading
European Power Prices for Monday Rise to Record on Cold Snap
European daily power prices surged as a swing to colder-than-normal temperatures is set to boost demand on Monday, while France halts more nuclear reactors. A combination of colder weather, low Continue Reading
European Power Prices for Monday Rise to Record on Cold Snap
European daily power prices surged as a swing to colder-than-normal temperatures is set to boost demand on Monday, while France halts more nuclear reactors. A combination of colder weather, low Continue Reading
Russian Gas Flows to Europe Set to Remain Capped as Cold Arrives
Russia’s gas shipments through a major transit route to Germany are set to remain capped on Monday, potentially worsening Europe’s energy crunch just as a cold snap arrives in the Continue Reading
UK Gas Prices Break Records As Europe’s Energy Crisis Worsens
UK Gas prices have soared by 520 percent this year. The soaring prices reflect current market conditions across Europe, and follow continued geopolitical uncertainty and rising tensions over the 759-mile Continue Reading
Another EU Country Joining Low-Carbon Hydrogen Production Market
Engie and Equinor have announced the H2BE project which aims to develop production of low-carbon hydrogen from natural gas in Belgium. Energy companies Engie and Equinor have announced the H2BE Continue Reading
Russia seeks urgent U.S. response on security demands
Russia said on Monday it urgently needed a response from the United States on its sweeping security demands and again warned of a possible Russian military response unless it saw Continue Reading
Oil Falls This Week as Omicron and Tightening Fed Sour Sentiment
Oil posted a weekly decline after a volatile few days that saw traders grow more concerned about the demand impact from the omicron variant and tighter monetary policy. Futures in Continue Reading
Oil Prices Dip As Omicron Cases Surge
Crude futures were under slight pressure early Friday in Asia as Omicron worries returned The Fed’s stance of tightening monetary policy next year started to lead to anxiety about economic Continue Reading
Omicron more likely to reinfect than Delta, no milder -study
The risk of reinfection with the Omicron coronavirus variant is more than five times higher and it has shown no sign of being milder than Delta, a study showed, as Continue Reading
Are Oil Markets Already Oversupplied?
It appears that oil market oversupply may already be upon us, with demand being hit hard by Omicron and by China cracking down on its independent refiners. Friday, December 17th, Continue Reading
IEA: Coal Set For Record Highs In 2022 Despite Net-Zero Pledges
IEA: The economic rebound from the pandemic is taking coal power generation to a new record high this year According to the agency, the 2020 collapse in coal demand turned Continue Reading
Is Libya On The Brink Of Another Civil War?
Geopolitics, Politics & Conflict In Libya, where elections are supposed to be held on December 24th, there has been a delay in approving the official candidate list, which could mean Continue Reading
Saudi Arabia Wants Its Capital to Be Somewhere You’d Want to Live
A banner advertises plans for a greener and more sustainable city. The crown prince’s next grand plan is to defy the skeptics and turn Riyadh into a greener, cooler city Continue Reading
The World Wants Green Hydrogen. Namibia Says It Can Deliver
This old diamond-mining town, perched on the rocky Atlantic coastline of this sparsely populated desert nation, last boomed at the start of the 20th century, when diamonds were discovered in the Continue Reading
Total and Shell among winners in Brazil oil auction
Several oil majors on Friday committed to exploring deep-sea oil prospects off Brazil’s coast following an auction widely seen as a test of the industry’s appetite for crude in the Continue Reading
How China’s Deal With the U.S. Helped Avert COP26’s Collapse
It was Day 13 of the COP26 summit, and even the trees inside the Glasgow venue were beginning to wilt. With the meeting running almost 24 hours over its scheduled Continue Reading
Chinese Teapot Refineries Ramp Up Oil Imports From Iran
Independent Chinese refineries increased its crude oil imports from Iran last month as the government issued a new batch of import quotas. Total crude imports were up by almost 40 Continue Reading
China Doubles Down on a Slower Coal Exit After COP26 Spat
China extended its defense of coal’s future after diluting demands for action at the COP26 climate summit, insisting a transition away from the dirtiest fossil fuel must be gradual. “In Continue Reading
U.S. drillers add oil and gas rigs for second week in a row -Baker Hughes
U.S. energy firms this week added oil and natural gas rigs for a second week in a row as demand for energy keeps growing after last year’s coronavirus demand destruction. Continue Reading
Biden Crude Release Moves Into Second Round With Bids Due Jan. 4
The Biden administration’s release of crude from U.S. emergency reserves to cool oil’s rally is going into a second round, with bids due by the first working day of the Continue Reading
Oil Rig Count Rises Despite Omicron Uncertainty
The number of active drilling rigs in the United States this week rose by 3, according to Baker Hughes . The total rig count rose to 579—a figure that is Continue Reading
U.S. LNG Exports Heading For An All-Time High
1. Indian Oil Demand Is Firing on All Cylinders Brushing aside Omicron concerns, Indian downstream players have been ramping up refinery runs and are close to running at 100% (with Continue Reading
US feedgas demand hits new high amid soaring LNG prices in end-user markets
US LNG feedgas demand hit a new record high at 12.55 Bcf/d on Dec. 17, based on morning nominations, as the export value of Gulf Coast FOB cargoes surged amid Continue Reading
Bakken, Permian Push U.S. To Record Gas Flaring Lows | Rigzone
Onshore gas flaring in the U.S. nosedived in the third quarter of 2021, falling to its lowest level since at least 2012, Rystad Energy stated. Flaring activity reached 380-390 million Continue Reading
‘Tidal wave’: Omicron could put U.S. COVID-19 surge into overdrive
Two years into the coronavirus pandemic, the United States is confronting another dark winter, with the red-hot Omicron variant threatening to worsen an already dangerous surge of cases. Hospitalizations for Continue Reading