Companies are bracing for another round of potentially debilitating supply chain disruptions as China, home to about a third of global manufacturing, imposes sweeping lockdowns in an attempt to keep Continue Reading
Construction and property sales have slumped. Small businesses have shut because of rising costs and weak sales. Debt-laden local governments are cutting the pay of civil servants. China’s economy slowed Continue Reading
China’s GDP expands 8.1% in 2021, grows 4% in Q4 Crude throughput to rise 454,000 b/d in 2022: Platts Analytics Crude output rises 3% to hit 4 million b/d in Continue Reading
Highlights 34 ships already released for export Miners hope ban to be lifted for those meeting domestic market obligation Meeting to review Nov-Dec DMO fulfillment Jan. 18-20 Indonesia may release Continue Reading
Gas shows indicate more than Japan’s total 1 Tcf recoverable gas reserves Estimated gas production equates to 1.2% of the country’s consumption Gas self-sufficiency rate seen rising to 3.4%, from Continue Reading
China’s central bank cut its key interest rate for the first time in almost two years to help bolster an economy that’s lost momentum because of a property slump and Continue Reading
As companies rush to set climate goals, some aren’t even getting the basics quite right when it comes to accounting for greenhouse-gas emissions. That’s what researchers in Ireland, the U.K., Continue Reading
German Chancellor Angela Merkel and other European leaders turn a wheel with Russian President Dmitry Medvedev to symbolically start the flow of gas through the Nord Stream gas pipeline in Continue Reading
BP says its fast electric vehicle chargers are on the cusp of becoming more profitable than filling up a petrol car. The milestone will mark a significant moment for BP Continue Reading
Northvolt Chief Executive Peter Carlsson wants to take on his old boss Elon Musk with the greenest electric vehicle batteries in the world. But he needs to start producing them Continue Reading
Norway’s exports surged to a record last year, helped by higher demand for fossil fuels, fish, and metals. Western Europe’s largest oil and gas exporter sold 1.38 trillion kroner ($156 Continue Reading
Nord Stream 2, Russia’s gas pipeline across the Baltic Sea, has already driven a wedge between Germany and the US and sown discord in Europe. Now, as fears mount that Continue Reading
No one expected much progress from this past week’s diplomatic marathon to defuse the security crisis Russia has ignited in Eastern Europe by surrounding Ukraine on three sides with 100,000 Continue Reading
Oil posted a fourth straight weekly gain, the longest winning streak since October, on signs that the market is tightening as global consumption withstands the impact of the omicron virus Continue Reading
U.S. West Texas Intermediate crude oil futures are edging higher on Friday, putting it in a position to post its fourth straight weekly gain. The catalysts behind the buying strength Continue Reading
Two months after U.S. President Joe Biden announced an unprecedented effort among major oil consuming economies to work together to bring down rising fuel prices, prices are again approaching multi-year Continue Reading
Oil is about to post its fourth week of gains in a row, and the outlook remains bullish thanks to supply constraints and demand strength. But one hedge fund manager Continue Reading
Source: NASA Goddard Institute for Space Studies New data from the U.S. government’s temperature takers just ranked 2021 as the sixth-hottest year, near the very top of a list that Continue Reading
Iraq’s overall oil production recovered steadily in 2021 — rising from just over 4 million barrels per day (bpd) in January to nearly 4.5 million bpd in December — as Continue Reading
China’s home prices fell for a fourth consecutive month in December, as the credit crunch in the property sector showed little sign of easing. New home prices in 70 cities, Continue Reading
China’s recent announcement that it will release oil from its reserves has been largely ignored by oil markets A combination of a weak dollar, lower-than-expected OPEC+ production, supply issues in Continue Reading
China has agreed with the United States to release crude from its SPR around the Lunar New Year holiday on February 1 The volume of the release may depend on Continue Reading
Crude oil imports into China fell by 5.4 percent last year on an annual basis for the first time in two decades, Reuters reported citing statistical data from Beijing. According Continue Reading
Exxon Mobil Corp (XOM.N) plans to shut the second-largest crude distillation unit (CDU) at its 560,500 barrel-per-day (bpd) Baytown, Texas, refinery by late next week, sources familiar with plant operations Continue Reading
The Eagle Ford Shale in South Texas, long dormant compared to its larger cousin the Permian Basin, saw its biggest one-week jump in drilling activity in more than two years Continue Reading
Beef, Bacon, Car Prices Surging Due to Inflation North American farmers could be looking at less expensive crop nutrients this year, potentially easing the pressure on food costs that have Continue Reading
U.S. retail spending and manufacturing slowed at the end of 2021 as the Covid-19 Omicron variant and inflation surged, early signs the latest complications from the pandemic could be weighing Continue Reading
The number of active drilling rigs in the United States rose by 13 this week, bringing the total rig count at 601, as oil prices keep to bull territory even Continue Reading
Output hits 33.3 Bcf/d Jan. 14, down 4% from record Eastern Gas South basis up 34 cents, January to date 2022 forward basis prices trade at discounts to cash A Continue Reading
Natural gas output up 2.4% to 3.072 Bcf/d Rig counts rising; December count was 32 December may show output rise, then drop North Dakota’s oil production jumped almost 49,000 b/d, Continue Reading
Battery Resourcers, a vertically integrated lithium-ion battery recycling and engineered materials company, plans to open a commercial-scale, lithium-ion battery recycling facility in Covington, Ga. When the 154,000-square-foot facility is fully Continue Reading
Canada will face challenges, according to the International Energy Agency. Canada will face challenges in retaining its status as a global oil and gas power in a world transitioning toward Continue Reading
The U.S. government has held talks with several international energy companies on contingency plans for supplying natural gas to Europe if conflict between Russia and Ukraine disrupts Russian supplies, two Continue Reading
The failure of last week’s high-stakes diplomatic meetings to resolve escalating tensions over Ukraine has put Russia, the United States and its European allies in uncharted post-Cold War territory, posing Continue Reading
Oil headed for a fourth straight weekly gain, the longest winning streak since October, on signs that the market is tightening as global consumption withstands the impact of the omicron Continue Reading
Despite multiple signals from the U.S. oil industry that it will continue treating the oil price recovery cautiously, signs are emerging that production growth is accelerating in some key locations, Continue Reading
Demand for shuttle tankers will grow continuously in the coming years, as produced volumes in need of transport rise to 3.3 billion barrels per year before the end of the Continue Reading
The Southern Hemisphere may have just matched its hottest temperature on record Thursday. A station in Onslow, a small coastal town in Western Australia, registered a sweltering 123.3 degrees (50.7 Continue Reading
The Chinese capital Beijing met state air quality standards for the first time last year, officials said on Tuesday, a milestone lauded by experts, who also warned that pollution remained Continue Reading
Trucking, farming and heating homes is set to get more expensive as diesel prices surge to highs not seen since 2014. In yet another setback for the Biden administration that’s Continue Reading
Major oil companies, under pressure from investors and environmentalists, are fleeing Canada’s oil sands, the fourth-largest oil reserve in the world and by some measures one of the most environmentally Continue Reading
Proved oil reserves in the United States slipped 19% over the course of 2020, from 44.2 billion barrels to 35.8 billion barrels, according to fresh data from the Energy Information Continue Reading
Midcontinent producing hubs trade into $4.30s/MMBtu Permian flows to Midcontinent up 70 MMcf/d in January Midcontinent, Gulf Coast hubs compete for Permian gas Strong natural gas demand across the central Continue Reading
Northeast spot gas prices soar in Jan. 13 trading Midwest spot gas prices register a tepid response Another arctic cold front was forecast to push south from Canada into the Continue Reading
A massive cyberattack warning Ukrainians to “be afraid and expect the worst” hit government websites late on Thursday, leaving some websites inaccessible on Friday morning and prompting Kyiv to open Continue Reading
The Dutch wing of environmental group Friends of the Earth, which won a landmark court case against Royal Dutch Shell (RDSa.L) last year, demanded 30 corporations publish plans for big Continue Reading
The German economy grew 2.7 percent last year but remained well below pre-pandemic levels, after growth slowed sharply in the fourth quarter due to the impact of the coronavirus crisis Continue Reading
The United States and its European allies appeared no closer to resolving a crisis with Russia over a possible renewed war in Ukraine, as Western officials flatly rejected Moscow’s call Continue Reading
Norway’s petroleum revenues reached a record-high in 2021 Stable high production from Norway’s continental shelf is expected to continue over the next few years In the fourth quarter of 2021, Continue Reading
The world may soon face a major oil supply shortage as spare capacity continues to dwindle and reserve replacement rates fall The number of new oil and gas discoveries may Continue Reading
