IRAQ DATA: December oil exports up 0.5% on month despite higher OPEC+ quota
December exports up 0.5% to 3.677 million b/d Quota rose to 4.237 mil in Dec b/d, vs 4.193 mil b/d in Nov January quota stands at 4.281 mil b/d Iraq’s Continue Reading
Iraq’s INOC to take over ExxonMobil’s stake in West Qurna 1 oil field: minister
Highlights Cabinet grants approval for INOC’s takeover of stake: minister ExxonMobil had filed lawsuit last year over stake sale ExxonMobil wanted to sell stake to a third party The Iraqi Continue Reading
China Secures Foothold In This Strategic Middle East Oil State
Oman continues to expand its cooperation with China as it looks to build out its petrochemical sector Oman’s options to raise money through conventional bond offerings remain constrained China already Continue Reading
Kazakhstan’s government resigns as fuel protests rage
Kazakh President Kassym-Jomart Tokayev accepted the government’s resignation on Wednesday after a fuel price increase in the oil-producing Central Asian country triggered protests in which nearly 100 police were injured. Continue Reading
Kazakhstan protests reach highest-producing oil field Tengiz, output unaffected: operator
No supply disruption reported from main export fields Contract workers gather in support of protests Mangistau region output mainly directed to domestic needs Contract workers at Kazakhstan’s highest-producing oil field, Continue Reading
Russia-Led Bloc to Send Troops to Kazakhstan Amid Protests
Russia and its allies pledged to send troops to help quell protests in Kazakhstan that posed the biggest threat to the central Asian country’s leadership for decades. Dozens of anti-government Continue Reading
Protests escalate in Kazakhstan; president’s home set ablaze
Riot police walk to block demonstrators during a protest in Almaty, Kazakhstan, Wednesday, Jan. 5, 2022. Demonstrators denouncing the doubling of prices for liquefied gas have clashed with police in Continue Reading
Kazakhstan appeals for help from Russian-led alliance over protests
Kazakhstan’s president appealed to a Russian-led military alliance for help on Wednesday after vowing to act with force to curb protests that have swept the resource-rich central Asian nation in Continue Reading
bringing a grim sense of déjà vu
When the Omicron coronavirus variant spread through India late in December, Prime Minister Narendra Modi urged the nation to be vigilant and follow medical guidelines. Arvind Kejriwal, the chief minister Continue Reading
Guyana Is Taking Control Of Its Oil Boom
Guyana’s recent oil discoveries could not have come at a better time for the country, with international companies looking to move away from traditional oil-producing states A new law passed Continue Reading
ExxonMobil Announces Two New Oil Discoveries In Guyana
ExxonMobil has made two more discoveries in the Stabroek block offshore Guyana, which add to the previously announced 10 billion oil-equivalent barrels recoverable resource estimate for the block, the U.S. Continue Reading
Anger at Xi’an Lockdown Spreads in China – WSJ
Authorities in the Chinese city of Xi’an relented in some of their pandemic restrictions after a nationwide outcry over the account of a woman who lost her unborn baby in Continue Reading
U.S. crude stockpiles drop, but fuel builds sharply as demand dips – EIA
U.S. crude oil stockpiles fell last week while gasoline inventories surged by more than 10 million barrels, the biggest weekly build since April 2020, as supplies backed up at refineries Continue Reading
Shale Giants View a Crude Oil Ascent Above $100 as Bad for Industry
Citi’s Morse Sees Oil Market in Surplus at End of 2022 Major shale-oil drillers are dreading the prospect of $100-a-barrel crude on fears it will tempt less-disciplined rivals to expand Continue Reading
Titans of Carmaking Are Plotting the Overthrow of Elon Musk
Volkswagen ID.3 electric cars inside a delivery tower at the automaker’s factory in Dresden, Germany. Volkswagen and Toyota are coming for Tesla, laying out $170 billion worth of investments to Continue Reading
GM Enters Electric Pickup Battle With 400-Mile Silverado EV
Mary Barra speaks next to the new Chevrolet Silverado EV at CES 2022. General Motors Co. Chief Executive Officer Mary Barra showed off the company’s electric Chevrolet Silverado at the Continue Reading
Supply Chain Woes Prompt a New Push to Revive U.S. Factories – The New York Times
When visitors arrive at the office of America Knits in tiny Swainsboro, Ga., the first thing they see on the wall is a black-and-white photo that a company co-founder, Steve Continue Reading
More than 40 percent of Americans live in counties hit by climate disasters in 2021
2021 ended as it began: with disaster. Twelve months after an atmospheric river deluged California, triggering mudslides in burned landscapes and leaving a half-million people without power, a late-season wildfire destroyed hundreds of Continue Reading
Summary of Weekly Petroleum Data for the week ending December 31, 2021
U.S. crude oil refinery inputs averaged 15.9 million barrels per day during the week ending December 31, 2021 which was 163,000 barrels per day more than the previous week’s average. Continue Reading
U.S. Overtakes Qatar To Become The World’s Largest LNG Exporter
The United States became the world’s largest exporter of liquefied natural gas in December as deliveries of the superchilled fuel to energy-starved Europe surged. According to Bloomberg calculations , the Continue Reading
Frigid Canadian winter slashes exports to US as demand soars to record highs
The effects of the Canadian cold spell continue to trickle down to the US Midwest, slashing exports to the region while propelling prices higher. Receive daily email alerts, subscriber notes Continue Reading
Phillips 66 evaluating assets as it further embraces clean energy projects: Garland
Rodeo Renewed remains biggest project Smaller projects include batteries, hydrogen, and CO2 As it moves forward with its cornerstone Rodeo Renewed project, Phillips 66 considers all its assets as candidates Continue Reading
Bank Fees for Green Debt Surpass Fossil-Fuel Financing
It’s official. For the first time since the unveiling of the Paris climate agreement in 2015, banks earned more fees arranging green-related bond sales and loans than they did helping Continue Reading
Auto Makers Supercharge Move Into Electric Vehicles – WSJ
General Motors Co. GM -4.56% showed off an electric Chevy Silverado. The Chrysler brand is ditching gas engines and going to an all-electric lineup. And Japan’s Sony Group Corp. SONY 0.02% plans to jump into the electric-vehicle fray, creating its Continue Reading
Canada minister defends oil sands despite pursuing emissions cuts
Canada’s new natural resources minister has defended the country’s promotion of exports from its controversial oil sands projects even as he vowed to enforce ‘aggressive” greenhouse gas emissions cuts on Continue Reading
Strong Earthquakes Spell Trouble For America’s Oil Heartland
Strongest earthquake in 10-years stirs up debate in Texas The Texas Railroad Commission banned injection of wastewater from well drilling into deep wells just before the big quake Shutting down Continue Reading
U.S. says more than half of states will seek oil well cleanup funds
The Biden administration on Wednesday said more than half of U.S. states intend to apply for a portion of the $4.7 billion carved out in the new infrastructure law for Continue Reading
As the Biden Administration Eyes Wind Leases Off California’s Coast, the Port of Humboldt Sees Opportunity
In the early 20 th century, the U.S. Census Bureau declared Humboldt County, California—now famous for its redwoods—the “principal center” of the state’s lumber industry. In 1900, the product accounted Continue Reading
The country’s biggest solar farm is coming to one of the coal-friendliest states
Among vast fields of corn and soybeans in rural northwest Indiana, construction workers broke ground in October on what will be the largest solar farm in the United States. The Continue Reading
Russia resumes gas supply to Romania via Ukraine
Russia has resumed natural gas supply to Romania through the Ukrainian gas transit system, Ukrainian state gas transit operator TSOUA said on Wednesday. Russia’s Gazprom suspended gas transit to Romania Continue Reading
Italy to Require Covid Shots for Those Over 50 to Blunt Record Cases
Italy made vaccination compulsory for people over 50 and further reduced what the unvaccinated can do in its latest bid to fight the surge in Covid-19 cases. The decision came Continue Reading
Using Harsh Language, Macron Issues a Challenge to the Unvaccinated
PARIS — Faced with a surge in coronavirus cases driven by the Omicron variant, President Emmanuel Macron of France said Wednesday that he wanted to “piss off” millions of his Continue Reading
Gas Prices In Europe Are Soaring Again Amid New Cold Snap
European benchmark natural gas prices rose on Wednesday for the third day in a row, as gas deliveries from Russia via Ukraine and Poland continue to be low while another Continue Reading
UK Scrambles For Solutions To Energy Crisis
The UK government believes it has until April to find a solution to ease the burden of surging natural gas and energy prices on utilities and households, although no immediate Continue Reading
European air traffic to remain under 90% of pre-COVID levels in 2022: Eurocontrol
Airline fuel efficiency stayed high in 2021 due to pandemic lull Airline traffic in Europe is expected to recover to 70%-90% of pre-pandemic levels in 2022, according to the European Continue Reading
French parliament approves Macron’s vaccine pass
France’s parliament on Thursday approved President Emmanuel Macron’s plans for a vaccine pass to help curb the spread of the Omicron variant after a tumultuous debate whipped up by Macron’s Continue Reading
German Factory Orders Rise in Boon for Pandemic-Stricken Economy
German factory orders rose in November, giving the economy cause for optimism after another quarter that was characterized by record numbers of Covid-19 infections. Demand increase 3.7% after declining a Continue Reading
EU warns US and Russia against new ‘Yalta’ deal to divide Europe
The EU’s top diplomat has warned Russia and the US against creating “spheres of influence” in Europe ahead of talks between the two countries next week regarding proposals from Moscow Continue Reading
MSC tops Maersk to become world’s largest container shipping line: Alphaliner
MSC takes No. 1 spot as it invests windfall profits in aggressive fleet expansion CMA CGM retakes third place in global rankings, while Wan Hai enters top 10 Switzerland-based shipping Continue Reading
Crude oil futures dip on profit-taking as OPEC+ sticks to output hike
Crude oil futures edged lower in mid-morning trade in Asia Jan. 5 amid investor profit-taking after Brent crude overnight settled at its highest level since late November on an affirmation Continue Reading
Oil Steadies After OPEC+ Adds More Output on Tightening Market
OPEC+ Reviving Halted Production Amid Tighter Market Oil was steady in Asian trading after OPEC and its allies agreed to a scheduled increase in production for next month, and an Continue Reading
Will Hydrogen Finally Live Up To The Hype?
Hydrogen stocks retreated in 2021 after posting tremendous gains in 2020 The number of green hydrogen projects soared in 2021 Closer public-private collaboration is critical to increasing investments Low-carbon hydrogen Continue Reading
How to Tell Real Climate Solutions From False Ones
After six years of writing about all things climate change, I’ve come to see my beat as covering both real and false solutions. That might actually be a sign of Continue Reading
Arctic Heat Record Confirmed for Siberian Town That Sizzled
The Siberian town of Verkhoyansk can officially claim to be the hottest spot in the Arctic. The northeast Russian community known for its extremely cold winters reached a record-setting Arctic Continue Reading
2021 Ranks as Fifth Hottest Year, With More Data Coming Soon
The year 2021 ended as the fifth hottest in records maintained by the European Union’s Copernicus Climate Change Service that go back to 1979. That finding comes from publicly available Continue Reading
OPEC+ Continues To Struggle To Produce As Much As Quotas Allow
OPEC+ group continues to deliver lower supply increases than the monthly production quotas In November 2021, the members of the OPEC+ agreement complied with the production cuts at 117 percent Continue Reading
Shrugging off omicron, OPEC+ approves another 400,000 b/d oil production boost
Highlights Alliance sees improved outlook for oil market Next OPEC+ meeting scheduled for Feb. 2 Shrinking capacity could make actual increase smaller OPEC and its Russia-led partners have approved another Continue Reading
Libyan crude production near 14-month lows as election doubts grow
Waha line maintenance, western blockade cuts output by almost 500,000 b/d Elections unlikely to happen soon as uncertainty between west and east persists Libya identified as top oil market risk Continue Reading
OPEC+ Agrees to Revive More Output
The group is sticking to its plan to gradually restore output halted during the pandemic. OPEC and its allies agreed to revive more halted production as the outlook for global Continue Reading
Iranian oil smuggled via Persian Gulf transfers at night, seafarers recount
The secret transfers usually take place at night to evade detection by regional coast guards. The ships anchor in the Persian Gulf just outside the territorial limits of the United Continue Reading