Fears Of Economic Slowdown Cap Crude Prices
The oil market is currently very much focused on the bearish signals, with prices reflecting fears of slowdown in China, a slowdown or recession in the U.S., and a recession Continue Reading
Fitch Solutions Discusses Gas to Oil Switching
Fitch Solutions expects to see an increase in gas-to-oil switching for use in heating during the winter season in the northern hemisphere, the company’s associate director, Emma Richards, told Rigzone. Continue Reading
Kuwait produces more than 2.8 million barrels per day of oil, KPC CEO says
Kuwait Petroleum Corporation’s (KPC) chief executive said on Sunday the Gulf state currently produces more than 2.8 million barrels per day of oil in accordance with its OPEC quota. Sheikh Continue Reading
OPEC+ falls short of oil output target by 3.583 mln bpd in August -document
OPEC+ fell short of its oil production target by 3.583 million barrels per day (bpd) in August, an internal document showed, having missed target by 2.892 million bpd in July. Continue Reading
Saudi drilling company eyes fast growth in oil, gas production
Saudi Arabia’s Arabian Drilling Co. is looking for growth in the kingdom’s crude oil and natural gas production as the country will be “critical” to meet demand for hydrocarbons that Continue Reading
South African power cuts grow, total blackout not imminent, utility chief says
South African power utility Eskom implemented Stage 6 power cuts early on Sunday morning, its worst level touched for the second time this year although a “total blackout” was not Continue Reading
Nigeria: Shell Moves to Resume Trans Niger Pipeline Test
Shell Petroleum Development Company of Nigeria Limited (SPDC) is planning to resume the testing of its main trunkline, the Trans Niger Pipeline (TNP). Vanguard gathered that TNP takes crude from Continue Reading
Oil exports back to normal rates after spillage at Iraq’s Basrah terminal
Oil loading and exporting operations from Iraq’s Basrah oil terminal are back to their normal rates after being halted on Friday due to a spillage, which has now been contained, Continue Reading
After Russian Flows Dry Up, India Pays Up to Double Price for Gas
India purchased some of the nation’s most expensive liquefied natural gas shipments ever after vital Russian deliveries were canceled. GAIL India Ltd. bought several LNG cargoes for delivery between October Continue Reading
Pakistan’s Largest Fuel Retailer Planning to Build $500 Million LNG Terminal
Pakistan State Oil Co., the nation’s largest fuel importer and retailer, is planning to build a $500 million LNG terminal as part of its strategy to diversify into multiple businesses. Continue Reading
China Signs Major Railroad Deal With Uzbekistan And Kyrgyzstan, Bypassing Russia
China has signed a deal to construct a railroad through Krygyzstan and Uzbekistan that would bypass sanctions-hit Russia. Kyrgyzstan, Uzbekistan and China signed the agreement on the sidelines of the Continue Reading
Japan storm: Nine million people told to evacuate as super typhoon Nanmadol hits
Huge waves in Kochi prefecture, western Japan Nine million people have been told to evacuate their homes as Japan is battered by one of the worst typhoons the country has Continue Reading
China’s Gasoline And Diesel Exports Exploded In August
China exported a whopping 97.4% more gasoline in August 2022 than it did the year before. This huge increase was largely due to a new batch of fuel export quotas Continue Reading
The World’s Largest Floating LNG Platform Restarts Production
The Prelude floating LNG production facility off the coast of Australia has resumed production and exports, operator Shell said today. Operations at the project were halted earlier this year due Continue Reading
Honda aiming to sell 3.5M electric motorcycles per year by 2030
Honda will introduce more than 10 new electric motorcycle models by 2025, with an aim to reach annual electric motorcycle sales of 1 million units within the next five years, Continue Reading
China’s August gasoline exports nearly double from a year ago
China’s August gasoline exports rose 97.4% from a year earlier, customs data showed on Sunday, as refiners took advantage of fresh export quotas amid faltering domestic demand. Gasoline shipments were Continue Reading
Hurricane Fiona rips through powerless Puerto Rico
Hurricane Fiona struck Puerto Rico’s southwest coast on Sunday as it unleashed landslides, knocked the power grid out and ripped up asphalt from roads and flung the pieces around. Forecasters Continue Reading
Pacific Coast port volumes stumble as US demand turns bearish
Highlights Port of Long Beach volumes edge higher against Los Angeles Asia-USWC freight rates down 19% on week USEC volumes remain strong while ports grapple with vessel backups US West Continue Reading
Private Drillers Are Hitting Their Limits
Private companies in the Permian Basin of West Texas and New Mexico emerged from the pandemic-induced oil downturn as a growth engine for U.S. shale. Dozens of small drillers helped Continue Reading
Electric Vehicles Took Off. Car Makers Weren’t Ready
Auto makers racing to turn out electric vehicles have generated long wait lists. Now they must try not to disappoint customers like Louie Figueroa. Mr. Figueroa put down a $100 Continue Reading
U.S. Energy Producers Warn European Buyers: No Bailout Is Coming
Wil VanLoh, head of private equity group Quantum Energy Partners: “there’s no bailout coming”, U.S. producers cannot pump a lot more. U.S. shale executives aren’t expecting major production increases in Continue Reading
EU’s ‘Fake’ Green Label for Gas and Nuclear Are Under Legal Attack
Greenpeace and a raft of other environment groups issued the European Union with an ultimatum over its decision to grant some gas and nuclear power stations a “fake” green label Continue Reading
Vladimir Putin’s Energy War With Europe Seems to Falter
Vladimir Putin ’s economic campaign to force European governments to abandon support for Ukraine by sharply curbing their natural-gas supplies looks to be faltering as gas prices fall, Russian government Continue Reading
German Gas Buyers Resume Nominations For Nord Stream 1 Supply
German energy importers have resumed nominations of gas volumes to be delivered via the Nord Stream 1 pipeline even though no gas is flowing along the pipe right now. According Continue Reading
Analysis: Lower oil prices defy robust forecasts for global demand
Oil prices have tumbled by around a quarter in the past three months, largely due to fears of a prolonged slump in global energy demand. But no major forecaster is Continue Reading
Oil prices up after Basra spill, but log weekly decline
General view of the Fos-Lavera oil hub near Marseille, France, September 17. REUTERS/Jean-Paul Pelissier Brent and WTI head for weakest quarter since 2020 Exports ‘gradually’ resume after spill at Iraq’s Continue Reading
Latest Oil Market Reports Show Broad Balance Agreement
The latest monthly oil market reports show a broad agreement about balances. The latest monthly oil market reports show a broad agreement about balances, Standard Chartered (SC) highlighted in a Continue Reading
The World Has a $1 Trillion La Nina Problem
Deadly floods in Pakistan. Scorching heat and wildfires in the US West. Torrential rains in Australia and Indonesia. A megadrought in Brazil and Argentina. As climate change pushes weather disasters Continue Reading
Who Pays The Price For America’s Aggressive Climate Policies?
The dramatic rise of electric vehicles has been touted as a major win for the environment. While this transition to ‘zero-emission’ vehicles may benefit developed nations, front-line communities and emerging Continue Reading
Oil Exports from Iraq’s Basra Port Stop—Repair Could Take Weeks
An oil spill has forced a shutdown of all crude oil exports from Iraq’s Basra Port, oil sector sources said on Friday, cited by Reuters. With four tanker berths, the Continue Reading
What Iran Should Do If JCPOA Fails
The negotiations to revive the Joint Comprehensive Plan of Action (JCPOA) between Iran and the P5+1 (China, France, Russia, the United Kingdom, the United States, and Germany) are, to use Continue Reading
Iran’s Supreme Leader Cancels Public Appearances After Falling Ill –
Iran’s supreme leader, Ayatollah Ali Khamenei, canceled all meetings and public appearances last week after falling gravely ill and is currently on bed rest under observation by a team of Continue Reading
Nigeria: What the Nigeria-Morocco Gas Pipeline Project Will Do for Africa – Mele Kyari
The Nigeria-Morocco Gas Pipeline Project is an initiative of the Federal Government of Nigeria and the Kingdom of Morocco. The Group Chief Executive Officer of the Nigerian National Petroleum Company Continue Reading
S.Africa’s Eskom moves to Stage 5 loadshedding until Monday morning
South African power utility Eskom said power outages will be ratcheted up a notch to ‘Stage 5’ from 1000 a.m. (0800 GMT) local on Saturday until 0500 a.m. on Monday Continue Reading
U.S. climate envoy Kerry cautions against long-term gas projects in Africa
U.S. climate envoy John Kerry cautioned against investing in long-term gas projects in Africa as countries in the region, some hoping to tap recent oil and gas discoveries, wrestle with Continue Reading
U.S. Climate Chief Calls On Africa To Slash Emissions
Africa, which is home to many of the most climate-vulnerable countries, needs to make its fair share of efforts to reduce global emissions and curb temperature rise, the U.S. Special Continue Reading
Exclusive: Kazakhstan sees Kashagan resuming normal oil output in October ‘at best’
Kazakhstan’s vast Kashagan oilfield, where production sharply declined following an emergency gas release last month, will resume output at usual levels “in October at best”, Kazakh Energy Minister Bulat Akchulakov Continue Reading
Exclusive: Kazakhstan sees Kashagan resuming normal oil output in October ‘at best’
A drill rig under construction is seen at an offshore island in the northern Caspian Sea, part of the Kashagan oilfield, October 11, 2012. Up to 12 billion barrels of Continue Reading
Narendra Modi chides Vladimir Putin over Ukraine war
Indian prime minister Narendra Modi has told Russian president Vladimir Putin that now is “not an era of war”, in some of his most pointed public remarks yet about Russia’s Continue Reading
Argentina’s Oldelval to invest $750 million in Vaca Muerta pipeline to boost exports
Argentine oil pipeline operator Oleoductos del Valle (Oldelval) will invest $750 million to double its transport capacity from the Vaca Muerta shale formation, the country’s energy ministry announced Friday, hoping Continue Reading
Haiti’s Fuel Price Hike Escalates Its Worst Protests in Years
Escalating street protests have pushed Haiti’s already dire social crisis this week into what regional leaders described as a “low-intensity civil war,” leaving residents of the capital cut off from Continue Reading
Exclusive: Delta Air Lines readies refinery to process biofuels
Delta Air Lines Inc (DAL.N) plans to start receiving shipments of renewable fuel feedstocks at its Trainer, Pennsylvania, refinery as part of a strategy that could reduce its environmental liabilities Continue Reading
Strongest storm in decades set to hit Alaska with coastal flooding, high winds
A powerful extratropical cyclone is expected to blast the western coast of Alaska starting Friday night — bringing potential perils from a storm surge that threatens to top out at Continue Reading
Oil Rig Count Ticks Higher As Gas Rig Count Slips
The number of total active drilling rigs in the United States rose by 4 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
Column: U.S. gas producers struggle to meet demand
LONDON, Sept 16 (Reuters) – demand for gas from domestic generators as well as customers in Europe and Asia scrambling for replacement supplies following Russia’s invasion of Ukraine. Working inventories Continue Reading
What’s Inside Of Biden’s Big Electrification Plan?
U.S. President Joe Biden unveiled a new funding scheme to expand electric vehicle infrastructure across the country. The first round of funding will total $900 million and aims to bolster Continue Reading
Putin’s Meeting With Xi Highlights Russia’s Waning Status On The World Stage
RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many… Chinese President Xi Jingping met Continue Reading
33% Of All UK Exporters To EU Vanish Due To Brexit-Related Red Tape
The number of UK businesses exporting goods to the EU fell 33 percent to 18,357 in 2021, from 27,321 in 2020, according to data from HMRC. Discussing the figures with Continue Reading
UK Food Producers Face C02 Crunch After Plant Closure
The CF Industries Holdings Inc. fertilizer manufacturing complex in Ince, U.K. Photographer: Anthony Devlin/Bloomberg One of Britain’s biggest suppliers of carbon dioxide halted output at a plant in England, further Continue Reading
French Ambassador Says Europe Keeping Energy Prices Down
Europe has successfully headed off an energy crisis for now by taking strong measure to control prices and keep storage tanks of natural gas full heading into winter, France’s ambassador Continue Reading