Brent Oil Rises on Dollar Weakness and Optimism Over Commodities
Brent oil rose past $55 a barrel — with some assistance from a weaker dollar — even as the International Energy Agency cut its demand outlook for the rest of the Continue Reading
Oil Prices Edge Downward
Oil futures edged lower after China reported new virus cases and the dollar rose, while physical crude prices in Asia weakened. Futures in New York fell 0.5%. Premiums for Russia’s Continue Reading
Oil slips on coronavirus fears, strong dollar
Oil prices fell slightly on Monday as a stronger dollar, fears over soaring COVID-19 cases around the world and the slow pace of vaccination against the coronavirus outweighed a better-than-expected Continue Reading
IEA Cuts Oil Demand Forecast as New Lockdowns Temper Recovery
The International Energy Agency lowered forecasts for global oil demand as renewed lockdowns to contain the pandemic temper the recovery expected this year. “The global vaccine roll-out is putting fundamentals on a Continue Reading
International Energy Agency cuts estimate of 2021 oil demand
Global oil demand will be lower in 2021 than previously expected, the International Energy Agency said on Tuesday, as renewed lockdowns to contain the coronavirus pandemic hit consumption. The IEA said Continue Reading
Covid-19 Pandemic:
German Chancellor Angela Merkel is holding talks on a possible extension of the country’s virus measures, with curfews under consideration. European Union member states will be warned by the bloc’s Continue Reading
Covid vaccine: WHO warns of ‘catastrophic moral failure’
The world is on the brink of “catastrophic moral failure” because of the unequal distribution of Covid vaccines, the head of the World Health Organization (WHO) has warned. Tedros Adhanom Continue Reading
Businesses Aim to Pull Greenhouse Gases From the Air. It’s a Gamble.
Using technology to suck carbon dioxide out of the sky has long been dismissed as an impractical way to fight climate change — physically possible, but far too expensive to Continue Reading
Blue ammonia to comprise bulk of hydrogen transportation due to lower costs: HSBC
Gas-based “blue” ammonia will comprise the bulk of future hydrogen transportation given its lower production costs compared with renewable ammonia and the ease in transport compared with liquified hydrogen, equity Continue Reading
Bill Gates and Jeff Bezos Funds Back Hydrogen-Powered Plane Startup ZeroAvia
The hydrogen-powered aviation startup ZeroAvia Inc. has raised $37.7 million from the U.K. government and a group of investors that includes funds founded by Bill Gates and Amazon.com Inc. ZeroAvia said it Continue Reading
Fossil fuel firms need to curb climate gas leaks
The International Energy Agency says oil and gas companies aren’t doing enough to reduce the release of methane, a potent source of planet-heating emissions, that is seeping out of pipelines Continue Reading
Pipeline Woes Hit Libya Oil Production
A leak that forced the shutdown of an oil pipeline in Libya has reduced its recovering oil production by as much as 200,000 bpd, Bloomberg reports , noting the challenges Continue Reading
UAE Oil Major Turns To Hydrogen
Adnoc, the Abu Dhabi state oil company, Adu Dhabi Investment Holding, and Mubadala Investment Co., two state investment funds, have teamed up in an Abu Dhabi Hydrogen Alliance to develop Continue Reading
Syria: Oil Tankers From Iran To Syria Intercepted
Tankers carrying oil from Iran to Syria have been intercepted in the Red Sea and delayed shipments of oil to Syria, the Prime Minister of Syria, Hussein Arnous, was quoted Continue Reading
Iran Looks To Poach Saudi Oil Contracts With New Projects
Iran and China look to exploit Saudi oil deficit with new push in West Karoun Iran And China Exploit Saudi Weakness With New Oil Megaproject Iran And China Capitalize On Continue Reading
First cargo of new Nigerian crude Anyala destined for Europe: sources
The first export cargo of Nigeria’s newest crude grade Anyala is on its way to Northwest Europe, trading and shipping sources said on Jan. 18. Receive daily email alerts, subscriber Continue Reading
Oil companies, aid groups plan to press Biden to allow Venezuela fuel swaps
Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse Continue Reading
China’s rebound masks long-term challenges
When the Chinese city of Wuhan went into lockdown due to coronavirus a year ago this week, the country’s economic and political model seemed to face a moment of reckoning. Continue Reading
China’s COVID outbreak worst since March 2020
China is battling the worst outbreak of COVID-19 since March 2020, with one province posting a record daily rise in cases, as an independent panel reviewing the global pandemic said Continue Reading
China’s Car-Chip Shortage Could Persist for as Long as a Decade
China’s automotive-chip shortage could persist for as long as a decade, but it has little to do with the current supply glitches snarling production, according to the official who oversees Continue Reading
Chinese Refiners Processed Record Amounts Of Crude In 2020
After a pandemic-hit slow start to 2020, China’s refiners boosted production from April, thanks to ultra-low crude oil prices and a rebound in the Chinese economy and fuel demand, setting Continue Reading
Asian storage demand in spotlight as traders fear flood of LNG in summer
Highlights JKM drop triggers fear of abundant spring LNG deliveries to Europe Asian storage demand expected to cushion as stock fell below 3-year average But summer arbitrage opportunities to Europe Continue Reading
These Companies Want to Charge Your Electric Vehicle as You Drive
Enthusiasm for electric vehicles has long been held back by concerns about battery life, but what if drivers were able to charge their cars while driving? Several automotive, utility and Continue Reading
Pipeline from Canada would carry low quality oil from northern Alberta to the United States
Signaling his commitment to quickly confront climate change, President-elect Joe Biden is planning to move within days to quash the controversial multibillion-dollar Keystone XL pipeline, according to two individuals familiar Continue Reading
Canada scrambles to salvage Keystone XL as Biden prepares to kill troubled pipeline project
U.S. President-elect Joe Biden’s expected move to cancel the Keystone XL pipeline prompted Canada’s main oil-producing province of Alberta on Monday to threaten to seek damages as Ottawa made efforts Continue Reading
ConocoPhillips Acquires Concho
Shareholders have approved ConocoPhillips’ acquisition of Concho Resources. PHOTO SOURCE: ConocoPhillips ConocoPhillips (NYSE: COP) reported Friday that it has completed its acquisition of Concho Resources (NYSE: CXO), with shareholders of Continue Reading
The South’s Communication Infrastructure Can’t Withstand Climate Change
When Hurricane Zeta made landfall on the Gulf Coast in October, 2.6 million people in the Southeast U.S. were left in the dark. From the Mississippi coast to Atlanta to Continue Reading
Germany regrets U.S. decision to sanction Russian vessel involved in Nord Stream 2
The United States has informed Germany that it plans to impose sanctions on a Russian pipe-laying ship involved in construction of the Russian-led Nord Stream 2 gas pipeline from Russia Continue Reading
Germany set to tighten work-from-home rules amid fears of COVID variants
German Chancellor Angela Merkel is likely to agree with regional leaders on Tuesday stricter requirements for working from home among other measures as they try to rein in the coronavirus, Continue Reading
The European Space Agency’s Satellites Could Predict the Next Climate Disaster – Bloomberg
Signaling his commitment to quickly confront climate change, President-elect Joe Biden is planning to move within days to quash the controversial multibillion-dollar Keystone XL pipeline, according to two individuals familiar Continue Reading
European car sales suffer worst plunge ever in pandemic
European car sales plunged by nearly a quarter last year as the pandemic provoked the worst crisis ever to hit the capital-intensive industry. New car registrations sank by 23.7%, or Continue Reading
Tripling of China-Europe shipping costs threatens goods supply
After western demand for Asian-made goods rebounded in the second half of the 2020, competition among shippers for available containers sent freight rates soaring © Costfoto/Barcroft Media/Getty The cost of Continue Reading
Russian Gasoline Imports Surge After Import Ban Ends
Russia’s imports of gasoline surged eight times in November compared to October, after the end of a four-month ban on refined oil product imports ended in October, according to data Continue Reading
Oil Edges Lower on Stronger Dollar and Still-Surging Virus
Oil edged lower in Asia as a stronger dollar and a still-surging coronavirus outweighed Chinese economic data that beat estimates. Futures in New York fell toward $52 a barrel after closing down Continue Reading
Covid-19’s Blow to Business Travel Is Expected to Last for Years
The coronavirus pandemic delivered a lingering, and possibly permanent, hit to business travel that is likely to weigh on employment and economic growth in some communities for years. Beyond the blows to airlines, Continue Reading
Global fossil fuel demand should peak in 2027, says consulting firm McKinsey
Aggregate fossil fuel demand on a global-scale is set to peak in 2027 – with oil peaking in 2029 and gas in 2037 – partially due to the impacts of Continue Reading
Global Methane Emissions Equaled Europe’s Carbon Footprint in 2020
Emissions of planet-warming methane fell last year as oil and gas production declined, but they were still equivalent to the European Union’s total carbon dioxide emissions. Oil and gas operations emitted Continue Reading
IEA calls for ‘urgent’ action to cut methane emissions from oil, gas sector
The International Energy Agency on Jan. 18 called on on companies, governments and regulators to take “urgent action” to cut methane emissions from the oil and gas sector, and warned Continue Reading
Massive blackouts have hit Iran. The government is blaming bitcoin mining.
Massive blackouts and smog have hit cities across Iran. It’s a toxic mix as the country, already under economic duress and suffocating U.S. sanctions, simultaneously battles the region’s worst coronavirus outbreak. Continue Reading
Iran nuclear deal: Europe hopes for Biden outreach, but also sees time pressures
Washington’s European allies hope the incoming Biden administration will take swift steps to restore the Iran nuclear deal amid mounting pressures, including Tehran’s boost in uranium enrichment and elections later Continue Reading
Libya’s Oil Output Drops as Pipelines Creak From War-Era Neglect
Libya’s oil output has dropped by about 200,000 barrels a day after the closure of a leaking pipeline, underscoring how difficult it is for the country to maintain its production following almost Continue Reading
Ghana’s Political Meddling Could Derail Its Oil Boom
Ghana has been one of the bright stars of the oil and gas market in the 2010s, ramping up its crude production from virtually zero to some 215kbpd by the Continue Reading
French energy group Total buys 20% stake in Adani Green Energy
French oil and energy group Total has agreed to buy a 20% minority stake in India’s Adani Green Energy Limited (AGEL) from Adani Group, as Total builds up its presence Continue Reading
Pacific Island Nation Tells Venezuela ‘That Oil Tanker Isn’t Ours’
The island nation of Palau says a tanker that recently loaded Venezuelan crude was using a false signal to disguise its identity, potentially putting the Pacific country in the crosshairs Continue Reading
Venezuela slams U.S. court approval of Citgo parent sale as ‘fraudulent’
Venezuelan Foreign Minister Jorge Arreaza on Saturday criticized a U.S. court ruling authorizing a sale of the shares in the parent company of U.S. refiner Citgo Petroleum Corp, calling it Continue Reading
China’s economy picks up speed in fourth quarter, ends 2020 in solid shape after COVID-19 shock
China’s economy picked up speed in the fourth quarter, with growth beating expectations as it ended a rough coronavirus-striken 2020 in remarkably good shape and remained poised to expand further Continue Reading
China’s economy expands at faster rate than before coronavirus
China’s gross domestic product expanded 6.5 percent in the fourth quarter of 2020, a faster rate than before the coronavirus pandemic and easily outpacing the expected performance of other big Continue Reading
China’s 2020 GDP rises 2.3%, robust economic growth expected in 2021
China’s economy grew at 6.5% in the fourth quarter, bringing the world’s second-largest economy’s GDP growth to 2.3% in 2020, National Bureau of Statistics data showed Jan. 18. Receive daily Continue Reading
Asia Energy Crisis
Northeast Asia has been hit by a mid-winter energy crisis as an extended period of much lower than normal temperatures across the region has strained supplies of coal, gas and Continue Reading
Oil-and-Gas Industry Faces a Slow Recovery From Pandemic Lows
Oil and gas prices are rebounding from their pandemic lows, but the road ahead for the industry remains challenging amid new competitive threats and demands from investors. Global spending on oil Continue Reading