Libya’s Oil Production Crashes Down To 780,000 Bpd
Maintenance work on a pipeline shut down 200,000 bpd output this week On December 20, Libya declared force majeure on its oil exports after crude oil production had been shut Continue Reading
Nigeria: Oil Industry – 2021 in Retrospect and Prospects for 2022
In 2021, the Nigerian oil and gas industry witnessed unarguably the level of activities that had not been witnessed in a long while. From the enactment of the Petroleum Industry 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
India’s jet fuel demand facing headwinds as third COVID wave looms
Highlights Several states step up restrictions as omicron variant spreads India’s 2022 jet fuel demand seen 16% lower than 2019: Platts Analytics But tight supply, China’s export quota cuts to Continue Reading
Yuzhou: Second Chinese city forced into Covid lockdown
The first city out into a recent lockdown was Xi’an on 23 December China has put a second city into total lockdown after just three asymptomatic Covid cases were discovered. Continue Reading
China Slashes Fuel Export Quotas By 56%
China has considerably reduced the allowances for fuel exports in the first export quota batch for 2022, signaling its intention to limit fuel sales abroad and curb excessive refinery output. Continue Reading
China reports major drop in virus cases in locked-down Xi’an
China on Wednesday reported a major drop in local COVID-19 infections in the northern city of Xi’an, which has been under a tight lockdown for the past two weeks that Continue Reading
Evergrande Is Told to Tear Down 39 Buildings on Man-Made Island
The crisis engulfing China Evergrande Group EGRNF 6.68% deepened, as the embattled property developer said it had been ordered to tear down dozens of buildings on an extravagant man-made island in southern China. At the same Continue Reading
Lockdown of Chinese City Leaves 13 Million Stranded
A week and a half into one of the biggest pandemic lockdowns in China, residents of Xi’an voiced desperation online about challenges in getting food and medical care. China’s Covid-19 count remains Continue Reading
Sony Looks to Sell Its Own Electric Vehicles
Sony Group Corp. said it would create a car unit and explore entering the electric-vehicle market, in another sign of how the electronics and car businesses are overlapping. At the CES Continue Reading
Chinese banks cut back traditional lending as concern over economy mounts
Chinese banks rushed to meet their annual state-imposed lending quotas last month by buying up low-risk financial instruments rather than issuing loans, a surge that bankers and analysts said reflected Continue Reading
In China’s Xi’an lockdown, tales of anguish as hospitals demand patients are covid-free – The Washington Post
On the first day of 2022, outside Xi’an Gaoxin Hospital, in the middle of China’s worst coronavirus outbreak since Wuhan, a woman eight months pregnant miscarried after being refused care until she Continue Reading
China’s Dec manufacturing PMI rises, uptrend likely to continue in early 2022
Highlights Manufacturing sector continues to recover in H1 2022 Concerns remain on overseas demand in H2 2022 The Chinese manufacturing purchasing managers index continued to rise in December at 50.3 Continue Reading
Hyundai describes Metamobility concept, introduces Mobility of Things
Hyundai Motor used CES in Las Vegas as the platform to describe its new “Metamobility concept”, which will incorporate the use of robotics in both the real world and the Continue Reading
Goldman Says China Border Curbs Likely to Last Most of 2022
China could retain its tight border restrictions for the whole of the year as it prepares to host the Winter Olympics and a series of political events in 2022, Goldman Continue Reading
U.S. reports nearly 1 million COVID-19 cases in a day, setting global record
The United States set a global record of almost 1 million new coronavirus infections reported on Monday, according to a Reuters tally, nearly double the country’s peak of 505,109 hit Continue Reading
Boston Winter Draws Caribbean LNG Cargoes in Rare Price Play
A third Caribbean liquefied natural gas cargo is headed for Boston, where two other await colder weather before unloading in an unprecedented bet on price spikes this winter. GasLog Partners Continue Reading
U.S. Gas Producers Set For Strong Year In 2022
U.S. LNG exporters are capitalizing on ongoing strong global demand Currently, the peak LNG capacity of U.S. producers is 11.6 billion cu ft daily U.S. peak liquefaction capacity is set Continue Reading
Major Crude Draw Offset By Jump In Gasoline Stocks
This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 6.432 million barrels, after analysts predicted a much smaller 3.40 million barrel draw . Continue Reading
East Texas winter gas forward basis tumbles as Permian output, drilling accelerate
Highlights Houston Ship Channel Jan-22 basis falls 60 cents Permian output nears prior record at 14.1 Bcf/d Rigs, drilling, completions highest since Q1 2020 Recent growth in Permian Basin gas Continue Reading
New York climate plan sees renewables, new technology replacing fossil-fueled power
Highlights Power demand could grow 80% by 2050 Up to 25 GW of new technology needed Costs remain unclear: IPPNY Power demand in New York State is expected to increase Continue Reading
US gas storage likely falls less than half five-year average for final week of 2021
Highlights Survey calls for 50 Bcf withdrawal Platts Analytics expects 169 Bcf pull for week in progress The final weekly gas draw of 2021 looks to measure less than half Continue Reading
US pushes unity on Ukraine ahead of key Russia meetings
In a display of unity, the Biden administration and its European allies are beginning a series of meetings aimed at showing Russia that an invasion of Ukraine would be met Continue Reading
Deere Rolls Out Fully Autonomous Tractor at CES
Deere & Co. said Tuesday that it has developed a fully autonomous tractor designed for large-scale farming and that it plans to sell the machine later this year. The vehicle has Continue Reading
Imagine Virginia’s traffic jam but with only electric vehicles
Sometime after 3 a.m. Tuesday, as an epic 48-mile winter traffic jam on Interstate 95 in Virginia dragged on, a long-haul trucker from Canada heard a knock at the door of his cab. It Continue Reading
The Biggest Challenge Facing Biden’s Electric Vehicle Infrastructure Plan
The Biden Administration recently unveiled an ambitious plan to build a network of electric vehicle charging stations across the country. Fast chargers are needed, because the amount of time it Continue Reading
Commodities 2022: Vehicle makers face challenging year amid persistent chip shortage
Global vehicle manufacturers found themselves struggling to meet demand in the second half of 2021 as production was hampered by a semiconductor chip shortage — and supply is not likely Continue Reading
Ford to boost production capacity of electric F-150 Lightning to 150,000 per year; ability to produce 600K BEVs annually within 24 months
Ford Motor Company plans to raise production of the F-150 Lightning pickup at the Rouge Electric Vehicle Center in Dearborn to 150,000 trucks per year to meet high demand, Beginning Continue Reading
Europe Sleepwalked Into an Energy Crisis That Could Last Years
The retired salt caverns, aquifers, and fuel depots that hold Europe’s stockpiles of natural gas have never been so empty at this point in winter. Just four months after Amos Continue Reading
Greece’s DEPA, Gazprom agree long-term gas deal
Greece’s DEPA Commercial has signed a long-term gas supply deal with Russia’s Gazprom which offers more favourable terms, the gas utility said on Tuesday. The contract, which ends in 2026, Continue Reading
Energy-Starved France Mulls Burning More Coal to Keep Lights On
Want the lowdown on European markets? In your inbox before the open, every day. Sign up here . France is considering a plan to allow electricity producers to burn more Continue Reading
EU demands seat at Ukraine talks as Russia prepares to meet US and Nato
A divided EU has demanded a role in next week’s negotiations with Russia ov the Ukraine crisis and broader issues of European defense, after Vladimir Pul succeeded in sidelining the Continue Reading
EU Law Will Equip New Cars With A Device That Collects Driving Data
Starting this summer, all new cars sold in the EU will by law contain a ‘black box’ accessible by authorities that records driving data. From July 6, 2022, all car Continue Reading
Europe Spars Over Green Label for Gas and Nuclear Plants
The European Union proposal to classify investment in some natural-gas and nuclear projects as sustainable exposed deep divisions among member states, underscoring the challenges facing the bloc as it reaches Continue Reading
Macron pledges to infuriate France’s unvaccinated by tightening restrictions amid omicron surge
French President Emmanuel Macron has said he wants to make daily life more inconvenient for unvaccinated people in the country, which is facing a spike in coronavirus infections driven by Continue Reading
Covid: President Macron warns he will ‘hassle’ France’s unvaccinated
Mr Macron says he wants to limit “as much as possible” access to activities for the unvaccinated French President Emmanuel Macron has warned he intends to make life difficult for Continue Reading
Crude oil futures hold gains amid upbeat new year sentiment
Crude oil futures were mostly steady in mid-morning trade in Asia Jan. 4 as upbeat sentiment continued to underpin prices going into the new year, while the OPEC+ group saw Continue Reading
Oil Fluctuates Near $76 Ahead of OPEC+ Meeting on Supply Policy
Oil fluctuated in Asian trading before an OPEC+ meeting that’s expected to see the alliance agree to another output boost next month. Futures in New York swung between gains and Continue Reading
Oil prices dip ahead of OPEC+ output policy meeting
Oil prices surrendered earlier gains on Tuesday as investors embraced expectations that major oil producers will confirm a plan to add supply later on Tuesday amid diminishing concerns over the Continue Reading
Oil Climbs as Libyan Output Falls Ahead of OPEC+ Supply Meeting
Oil rose as Libyan supply tightened ahead of an OPEC+ meeting on Tuesday to discuss production policy for February. Futures in New York advanced toward $76 a barrel in Asian Continue Reading
Oil Up on the First 2022 Trading Day
Oil jumped more than 1% on the first trading day of the new year ahead of an OPEC+ meeting on Tuesday to discuss production policy. Futures in New York topped Continue Reading
Energy Prices Rose 59% In 2021
Energy prices at the end of 2021 were 59% higher than they were at the beginning of the year, according to a new report by the Energy Information Administration (EIA). Continue Reading
OPEC’s new secretary general says demand to return to pre-pandemic levels by end-2022 – Al Arabiya
CAIRO, Jan 3 (Reuters) – OPEC’s secretary general-elect said on Monday that global oil demand should return to its pre-pandemic levels by the end of 2022, Al Arabiya news channel Continue Reading
OPEC+ Expects Mild Impact From Omicron On Oil Markets
OPEC+: impact Omicron on oil prices temporary OPEC + is meeting this week to discuss output plans Bloomberg polled analysts: group may decide to keep outcut cut plans unchanged OPEC+ Continue Reading
OPEC+ Sees Smaller Oil Market Surplus In Q1
OPEC+ sees smaller oil market surplus at the beginning of 2022 Lower expected oil supply from non-OPEC+ producing nations was the key reason for a downgrade in the surplus estimate Continue Reading
Canadian families win compensation over jet downed by Iran
Image caption, Images of the victims were displayed during an event marking the first anniversary of the tragedy in Toronto last year A Canadian court has awarded C$107m (£62m; $84m), Continue Reading
How Iran Could Trigger The Next 10 Percent Drop In Oil Prices
Iran announced plans last week to boost oil production from its supergiant South Azadegan oil field to at least 320,000 barrels per day The development of the West Karoun fields Continue Reading
Saudi-led coalition accuses Yemen’s Houthis of hijacking cargo ship in Red Sea
UAE-flagged RWABEE hijacked off Yemen’s coast: Saudi-led coalition Vessel on way from Yemen’s Socotra island to Saudi Arabia’s Jazan Port RWABEE was carrying medical field equipment A Saudi-led coalition has Continue Reading
India’s Diesel Demand Yet To Reach Pre-Covid Levels
India’s demand for diesel, the most used fuel in the world’s third-largest crude oil importer, rose in December 2021 from a month earlier but was still 2 percent lower than Continue Reading
Venezuela Doubles Crude Oil Exports Defying U.S. Sanctions
Oil exports from Venezuela doubled in December from a year earlier as the country raises production of revenue-generating hydrocarbons in defiance of U.S. sanctions. Shipments averaged 619,000 barrels a day Continue Reading