Oil climbed after two major agencies indicated that markets may be tighter than previously forecast and a U.S. government report showed crude inventories plummeted. West Texas Intermediate rose 1.7% on Continue Reading
Global airline passenger capacity rose 9% year on year in 2021 but was still 35% below the pre-pandemic level in 2019, with passenger volume lowest since 2009-2010, flight and data Continue Reading
While the markets digest the inflation numbers on Wednesday, all eyes will be focussed on the Federal Reserve’s reaction to the inflation data. Many economists expected the 7% gain in 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
The pace of rising carbon dioxide in the atmosphere needs to slow by about 20% over the next five years in order to limit global warming to 1.5 degrees Celsius Continue Reading
Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets. Latest developments Russia said nuclear talks were “moving forward,” in the latest possible sign of Continue Reading
Iraq is considering setting up a sovereign wealth fund into which it would deposit 1 percent of oil export revenues each month to finance renewable energy projects and build up Continue Reading
A Russia-led military bloc began to pull its troops out of Kazakhstan on Thursday after a week-long deployment which helped the Central Asian nation overcome the worst bout of violent Continue Reading
Highlights Interbasin spreads helped shift trade flows January sees Asia buying appetite pick up LNG transits via the Panama Canal plunged 30% in December as Pacific-bound cargoes diverted to the Continue Reading
In 2021, China managed to stamp out scattered Covid outbreaks while still delivering annual economic growth in the neighborhood of 8%. It helped that, even as the country kept its Continue Reading
The Biden administration on Wednesday criticized China’s decision to cancel a growing number of flights from the United States to China because of passengers who later tested positive for COVID-19 Continue Reading
The northeastern Chinese city of Dalian detected one COVID-19 infection of the highly transmissible Omicron variant of the coronavirus, state television said in a report late on Wednesday. The virus Continue Reading
China detected omicron in a second major port city, deepening concern of a wider outbreak at Beijing’s doorstep and raising the prospect that more foreign businesses might follow Toyota Motor Continue Reading
Over the past two years, China has used some of the strictest measures anywhere to keep Covid-19 out and long succeeded in holding numbers down. But as Omicron poses the Continue Reading
U.S. inflation hit its fastest pace in nearly four decades last year as pandemic-related supply and demand imbalances, along with stimulus intended to shore up the economy, pushed prices up Continue Reading
President Biden and his advisers for months predicted inflation would be only transitory, a temporary problem that would fade as the economy rebounded and as supply chain issues were alleviated. Continue Reading
U.S. crude oil refinery inputs averaged 15.6 million barrels per day during the week ending January 7, 2022 which was 293,000 barrels per day less than the previous week’s average. Continue Reading
With oil prices now sitting comfortably above $80, the EIA believes U.S. oil production will break new records in 2023 While the EIA forecasts record annual production, it does not Continue Reading
Cold temperatures that have increased the demand for heat have catapulted U.S. natural gas futures to their strongest start to a year yet. Year to date, February futures rose 27%–a Continue Reading
The U.S. Department of Energy has spent $1.1 billion on 11 carbon capture projects at coal-fired power plants and industrial facilities since 2009, most of which turned out to be Continue Reading
Retirements of coal-fired electric power generation capacity are set to speed up this year from a relatively low level of retirements in 2021 to the point of accounting for as Continue Reading
Investment firm EnCap has merged two of its portfolio companies to create a shale oil producer in the Permian worth $4 billion, Reuters has reported , citing unnamed sources familiar Continue Reading
The gasoline market is painting a picture of tight supplies this summer. The gasoline market is painting a picture of tight supplies this summer — the last thing Joe Biden Continue Reading
French teachers walked off the job on Thursday over what they say is the government’s failure to adopt a coherent policy for schools to manage the COVID-19 pandemic and protect Continue Reading
Europe’s natural gas woes are far from over in Jan. 2022. Prices are high. Underground reserves that are relied on in cold weather are low. Russia’s state-owned Gazprom isn’t selling Continue Reading
Nato has offered Moscow further talks on arms control in a bid to prevent further Russian aggression against Ukraine, but the Kremlin has so far not accepted. Speaking after nearly Continue Reading
The Organization for Security and Co-operation in Europe is meeting in Vienna Wednesday in the latest attempt to avert a major European security crisis as Russia masses troops on Ukraine’s Continue Reading
Volkswagen drove forward its transformation into a sustainable, software-centric mobility group in 2021 and approximately doubled its deliveries of battery-electric vehicles (BEV) year-on-year to 452,900 units. These now account for Continue Reading
Oil rose as traders looked ahead to clues on U.S. stockpiles while monitoring China’s efforts to contain the spread of omicron. West Texas Intermediate added 0.9% after capping a two-day Continue Reading
Oil rose towards $82 a barrel on Tuesday, supported by tight supply and hopes that rising coronavirus cases and the spread of the Omicron variant will not derail a global Continue Reading
Oil fluctuated after recording the biggest weekly gain in a month as supplies returned in Kazakhstan while production in Libya remained volatile. Brent crude rose to trade near $82 a Continue Reading
A substantial rise in atmospheric methane levels helped push global temperatures in 2021 towards the highest ever recorded, according to the EU’s Copernicus Climate Change Service. A new report released Continue Reading
The warmth of the world’s oceans hit a record. Again. A new analysis, published Tuesday in the journal Advances in Atmospheric Sciences, showed that oceans contained the most heat energy in Continue Reading
The statement last week from Iraq’s Oil Minister, Ihsan Abdul Jabbar, that the newly resurrected Iraqi National Oil Company (INOC) has been given government approval to acquire ExxonMobil’s 32.7 percent Continue Reading
Just as Libya partially recovered its oil production, bad weather forced the closure of four oil export terminals in the east—a sign that Libya’s crude exports in January will be Continue Reading
India is failing in efforts to improve its toxic air quality, with the number of smog-plagued cities increasing since the launch of a national program to tackle the issue. A Continue Reading
Coal was supposed to be on its deathbed. For the past seven years, coal use in America has been trending down. Faced with falling natural gas prices and the growth Continue Reading
China doubled down on imports of Iranian and Venezuelan crude in 2021, taking the most from the U.S.-sanctioned regimes in three years as the nation’s refiners brushed off the risk Continue Reading
Stay on top of the electric car revolution by signing up to our Hyperdrive newsletter here . Welcome to 2022 from Beijing. After the explosive growth last year in China’s Continue Reading
Developed nations around the world are aggressively pursuing the replacement of coal power, but Australia is struggling to turn its back on what it sees as an economically vital commodity Continue Reading
China doubled down on imports of Iranian and Venezuelan crude in 2021, taking the most from the U.S.-sanctioned regimes in three years, as refiners brushed off the risk of penalties Continue Reading
A third Chinese city has locked down its residents because of a COVID-19 outbreak, raising the number confined to their homes in China to about 20 million people. It wasn’t Continue Reading
The supply chain snarl that tripled the price of a key raw material for solar panels is about to get fixed, clearing the way for a renewed boom in the Continue Reading
South Korea plans a pivot to hydrogen. Should we care? Well, South Korea, with a population of 52 million, is the tenth largest economy in the world, has the fifth Continue Reading
This year, the company is attempting to push solutions for the home and the grid. Illustration: Baptiste Virot for Bloomberg Businessweek Elon Musk has long insisted that Tesla Inc. is Continue Reading
Highlights Average of $4.27 needed for ‘significant’ jump Volumes forecast to average record low in 2022 Operators in the US Rocky Mountain region said natural gas prices must maintain an Continue Reading
The region’s total rig count now stands at 729. North America added 53 rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on January Continue Reading
U.S. greenhouse gas emissions rose by 6.2% from 2020 levels last year as the use of coal-fired electricity jumped 17% and drivers returned to the roads after the first year Continue Reading
The Interior Department said Monday that it plans to block oil and gas leasing on about 11 million acres on Alaska’s North Slope, or roughly half of a 23-million acre Continue Reading
The United States is poised to surpass its record for covid-19 hospitalizations as soon as Tuesday, with no end in sight to skyrocketing case loads, falling staff levels and the struggles of Continue Reading
