“Europe is now closer to war than it has been since the break up of former Yugoslavia.” Stark words of warning from the senior EU diplomat I’ve just been speaking Continue Reading
There are growing doubts as to whether Russia can grow petroleum production to the volumes forecast by Moscow. The world’s third-largest oil producer’s output will continue growing, peaking at 12.2 Continue Reading
About two years ago, OPEC+ made a high-stakes wager that it could curb oil production and drive crude prices higher without unleashing an onslaught of supply from U.S. shale producers. Continue Reading
A new projection from the United States Energy Information Administration, however, shows a clear win for renewables in the coming years – and waning natural gas usage. The EIA expects Continue Reading
A nascent easing of supply bottlenecks helped drive manufacturing activity in Europe’s two largest economies in January, at least partially offsetting the drag from tighter restrictions linked to a surge Continue Reading
Oil Supply Outlook Looks ‘Relatively Subdued,’ ANZ’s Hynes Says Oil capped its fifth week of gains on continued signs of robust demand and strained crude supplies that have taken prices Continue Reading
U.S. West Texas Intermediate crude oil futures are under pressure on Friday, amid an unexpected rise in U.S. crude and fuel inventories, according to a government report released the previous Continue Reading
Oil prices rallied this week on a set of bullish predictions from major investment banks but may have climbed too high too fast. Friday, January 21st, 2022 Leading investment banks Continue Reading
There is a 200-million-barrel gap between the agency’s own global inventory calculations and what it observed in the global oil supply Wrong assumptions about demand were clearly one cause for Continue Reading
OPEC+ compliance with oil production cuts rose to about 122% in December, two sources from the producer group told Reuters, indicating that some members continue to struggle to raise their Continue Reading
Iraq has finalized contract terms with China’s Sinopec for the development of the Mansuriya gas field, although the deal will not be signed before a new government is formed. If Continue Reading
The African Petroleum Producers Organisation (APPO) has said the Dangote oil refinery will cut the importation of petroleum productions in Africa by 36 per cent. APPO also said the success Continue Reading
The Treasury Department extended a moratorium on transactions on a bond issued by the U.S. arm of Venezuela’s PDVSA, Citgo, for another year in the latest move to shield the Continue Reading
Peru to hold bid round in June Northwestern fields’ contracts about to expire Bid round Peru’s first since Tullow Oil in 2018 Peru’s government plans to call for bids in Continue Reading
The facility is crucial to Pemex’s plans to halt crude oil exports in 2023. Mexico’s mega-refinery project Dos Bocas is expected to cost 40% more than previously estimated and is Continue Reading
The first commercial airline flights in one month took off Saturday from Xi’an in western China as the government eased travel curbs imposed after a coronavirus outbreak ahead of next Continue Reading
China’s economic future isn’t looking all that bright and is starting to have political implications for President Xi Jinping. The Chinese Academy of Social Sciences expects annual growth to slow Continue Reading
Highlights Several power utilities in the market to buy spot LNG Set to focus on long-term contracts in 2022 amid high spot prices But remain prone to spot purchase on Continue Reading
The U.S. government said on Friday it would suspend 44 China-bound flights from the United States by four Chinese carriers in response to the Chinese government’s decision to suspend some Continue Reading
Tokyo recorded its fourth record number of daily COVID-19 infections on Saturday, breaking above 10,000, while Japan’s exceeded 50,000 for the first time as the Omicron variant continues to spread Continue Reading
Three U.S. studies show that the third dose of an mRNA vaccine is key to fighting the Omicron coronavirus variant, providing 90% protection against hospitalization due to COVID-19, the U.S. Continue Reading
A new area under watch by the Texas oil regulator could impact wells responsible for disposing about 270,000 barrels per day of saltwater from oil and gas operations, according to Continue Reading
Renewable diesel is touted as a cleaner-burning fuel, but a recent study has shown the fuel falls short on one measure of reducing pollution from new truck engines – giving Continue Reading
U.S. energy firms this week cut oil rigs for the first time in 13 weeks after crude prices fell for six weeks in a row from late October-early December. Oil Continue Reading
U.S. petroleum inventories have continued to slide over the last month and are well below their normal seasonal levels, which has helped push oil prices to their highest since 2014. Continue Reading
Fossil fuel production in the United States is set to hit record levels in 2023 due to increased efficiency and higher prices The combined production of coal, natural gas, and Continue Reading
The number of active drilling rigs in the United States rose by 3 this week, bringing the total rig count to 604, as oil prices linger just under 7-year highs. Continue Reading
U.S. crude oil exports have jumped in recent weeks as America leads supply growth amid steady and resilient global demand, according to commodity analytics provider Kpler, cited by Reuters . Continue Reading
Highlights Waha dips 20 cents, East Texas hubs down over 40 cents Texas gas production down 1 Bcf/d from Jan. 20 to 21 Statewide demand to drop 2 to 3 Continue Reading
Solar developers added almost 2.9 GW of capacity in Southeast US in 2021, a 20% increase to the region’s cumulative total but below 2020’s near-4-GW addition. Pandemic-related supply chain issues Continue Reading
Highlights Sees ‘short-cycle activity resurgence’ in 2022 Long-cycle projects also gain momentum Strong growth expected in offshore markets Recovery from the coronavirus pandemic continues to improve the energy landscape, as Continue Reading
The trajectory of US energy policy threatens to raise fuel prices, throttle renewable energy expansion and hamper energy diplomacy, according to the president and CEO of the Interstate Natural Gas Continue Reading
The US is holding discussions with Qatar and other large gas exporters to plan contingency measures in case a Russian invasion of Ukraine disrupts supplies to Europe. The talks with Continue Reading
Biden Warns Putin, Expects Russia to Move In on Ukraine The U.S. and Germany said any Russian aggression against Ukraine would trigger a serious response, pushing to offset remarks from Continue Reading
Highlights About half of Russian crude, products sold to Europe Ukraine pipeline transit seen as biggest risk Major supply disruptions seen as unlikely European oil markets and refiners are the Continue Reading
ANZ’s Hynes Says Oil dropped alongside other financial assets and commodities as crude’s sizzling rally ran out of steam after hitting a seven-year high. Futures in New York slumped more Continue Reading
Oil’s rally faltered after U.S. crude stockpiles rose modestly amid renewed pledges from President Joe Biden to try to curb prices. Futures in New York edged lower, closing below $87 Continue Reading
Crude oil futures were sharply lower in mid-morning trade in Asia Jan. 21, plunging from 7-year highs reached earlier this week as investors rushed to book profits after a multi-week Continue Reading
The imbalance of supply and demand in oil markets is growing, and it could lead to higher oil prices. Prices have gone from strength to strength on both major benchmarks, Continue Reading
Oil prices are quickly approaching $90 as geopolitical uncertainties continue to mount. Over the past week, drone attacks against targets in the UAE and escalating tensions between Russia and Ukraine Continue Reading
Libya’s oil production hovers around 1 million bpd after recent blockade got lifted Libya’s production goal for end-2022 is 1,45 million bpd, and 1,6 million bpd for end-2023 Political instability, Continue Reading
While negotiations continue over the potential lifting of U.S. sanctions on Iran, Iran is planning to invest heavily in its oil industry and boost production Its largest investment is a Continue Reading
An explosion Tuesday evening on the Turkish side of the Iraq-Turkey Pipeline (ITP) temporarily stopped Iraq’s northern oil export flows. Turkish authorities were able to resume pipeline operations by midday Continue Reading
The NLC boss alleged that some people are profiting from the dysfunctional state of the country’s refineries. The President of Nigeria Labour Congress (NLC) , Ayuba Wabba, has blamed the Continue Reading
The heads of state of Brazil, Guyana, and Suriname will discuss on Friday joint infrastructure and energy projects Construction of roads, bridges, and a deepwater port in Guyana will be Continue Reading
Major Chinese liquefied natural gas (LNG) importers are now offering to resell some cargoes on the spot market this year, suggesting that China has stocked up more than enough to Continue Reading
Coal prices are surging as traders in Asia scramble to snatch up winter supply amid fears of delayed deliveries from Indonesia and as a global energy squeeze continues. At least Continue Reading
The active rig count increased in the week ending Jan. 19 in every major US oil and gas shale basin barring the Utica as operators take advantage of high prices Continue Reading
Highlights Midland, Texas low temperature forecast to dip below 20F Waha cash price falls 83 cents on Jan 20 to $3.86/MMBtu Balmo, February forwards markets price in Waha premium Low Continue Reading
US natural gas inventory fell by more than 200 Bcf during the second week of 2022, much more than the market expected, yet the Henry Hub prompt retreated nearly 20 Continue Reading
