Oil Oscillates Between Gains and Losses
Oil oscillated between gains and losses as an uncertain economic outlook overshadowed signals of a tighter crude market with Iraq pledging to make extra output cuts this month. Iraq will Continue Reading
Crude oil futures edge higher on US jobs report; Iraq’s compensation cuts
Crude oil futures were marginally higher in mid-morning Asian trade Aug. 7 as optimism over a better-than-expected US jobs report and pledged compensation cuts by Iraq buoyed the market despite Continue Reading
Oil slips to $45 on demand concerns, set for weekly rise
Oil dipped to around $45 a barrel on Friday on worries that a demand recovery would slow due to a resurgence of coronavirus cases, although a pledge from OPEC member Continue Reading
Oil Drops as Demand Concerns Offset Tightening Supply
Oil futures fell for the fist time in a week as uncertainty over an economic recovery in the U.S. that could boost fuel consumption offset signals of tightening global supply. Continue Reading
Global Agriculture Has a Planting Problem
Climate-friendly crops are getting more attention from farmers and food companies as pressure mounts to find sustainable forms of agriculture. Enter Kernza, a new grain that’s already got powerful backers like General Continue Reading
Global Natural Gas Demand Set For Long-Term Growth After COVID
The world’s consumption of natural gas is set to decline by 4 percent this year, but global demand will return to growth after the pandemic, thanks to low natural gas Continue Reading
World Food Price Index Rises in July, Extending Rebound
World food prices rose in July led by vegetable oils, dairy products and sugar, extending a rebound from the previous month following sharp falls triggered by the coronavirus pandemic, the Continue Reading
Climate News: Arctic Sea Ice Shrinks to Lowest Ever
Ice covering the Arctic Ocean reached the lowest level since at least 1979 for July as temperatures spiked in the region, leaving large stretches of Russia’s Siberian coast mostly ice-free. Sea Continue Reading
Big Oil’s Most Profitable Business Is No Longer Oil
It’s been a rough year for oil, to say that least. And the worst isn’t over yet. Even though oil demand, and therefore oil prices, have been slowly recovering, that Continue Reading
Can Renewables Fully Sustain Our Current Way Of Life?
“The reason renewables can’t power modern civilization is because they were never meant to. One interesting question is why anybody ever thought they could.” Michael Shellenberger, Time magazine “Hero of Continue Reading
Climate change: Lockdown has ‘negligible’ effect on temperatures
The global restrictions saw roads and motorways hardly used for several months The dramatic drop in greenhouse gases and air pollutants seen during the global lockdown will have little impact Continue Reading
Leaked: China Quietly Helped Saudi Arabia Build A Secret Nuclear Site
When it comes to America’s allies in the Middle East, Washington has long “looked the other way” while they recklessly pursue questionable weapons technology. Think Pakistan’s nuclear program at a Continue Reading
Iraq Promises Major Oil Output Cuts To Offset Poor Compliance
OPEC’s second-largest producer, Iraq, is promising additional cuts of around 400,000 barrels per day (bpd) this month in order to compensate for the lack of compliance with the OPEC+ agreement Continue Reading
Shell to return to Basra with new head
Shell personnel will return to the Basra Gas Company (BGC) joint venture consortium next week, following their evacuation from Basra due to a payment dispute that nearly turned violent in Continue Reading
Cobalt Price Squeeze Could Derail The EV Boom
Electric vehicle investors and enthusiasts tend to obsess about a single metric–EV sales–when trying to gauge the pace of global electrification. However, they tend to ignore another equally important part Continue Reading
After nearly 20 years, India’s oil demand seen slipping into the red
Hopes that India’s oil demand will recover in the second half of the year is fading fast as some provinces implement partial lockdowns to battle the COVID-19 pandemic, prompting refiners Continue Reading
Record jump in daily COVID-19 cases as India crosses 2 million
India, the country hardest hit in Asia by the coronavirus pandemic, reported on Friday a record daily jump in infections, taking its total number of cases over two million. It Continue Reading
U.S. Companies Eye Venezuelan Oil Tankers As Debt Payment
O-I Glass Inc, a glass manufacturer, is trying to seize a Venezuelan oil tanker as part of efforts to secure the $500 million in arbitration compensation granted it by a Continue Reading
Asian Refiners to Ask for Less Crude After Saudi Cut Underwhelms
Several Asian refiners struggling with weakening demand will ask Saudi Arabia for less crude next month after the kingdom cut official selling prices by a smaller amount than the processors had Continue Reading
China Wants People’s Rice Bowls Filled With Locally Grown Grain
China stressed the importance of keeping the people’s “rice bowl” filled with domestically grown grain at a time when available farmland is shrinking, the weather’s turning more extreme and imports Continue Reading
CHINA DATA: July crude imports step back from record high, fall 7% on month
China’s crude oil imports fell from a record high in July, snapping a three-month rally, as sluggish domestic fuel demand due to flooding capped refinery feedstock requirements. Receive daily email Continue Reading
China’s independent refiners receive 1.37 mil mt US crude in July amid port congestion
China’s independent refineries ramped up US crude imports in July, picking up 1.37 million mt in the month, while at least 965,000 mt of North American crude cargoes are waiting Continue Reading
‘Super-Pollutant’ Emitted by 11 Chinese Chemical Plants Could Equal a Climate Catastrophe
In December 2007, Charles Perilloux, an American chemical engineer, traveled to China to help install inexpensive and game-changing technology at a Chinese chemical plant that was spewing a climate “super-pollutant” Continue Reading
Hurricane Forecast: ‘One of the Most Active Seasons on Record’
NOAA, via Reuters Following a record number of Atlantic Ocean storms over the past two months, including five that struck the United States, government scientists on Thursday updated their forecast Continue Reading
Demand For Offshore Oil Rigs To Return In 2022
Demand for offshore rigs will slump this year as a result of the pandemic and the low oil prices that are forcing offshore operators to delay drilling activities, but the Continue Reading
Cost Of Shale Gas Drilling Permit In Pennsylvania Jumps 150%
Pennsylvania more than doubled as of August 1 the fee for all unconventional well permit applications, while shale companies call on state officials to find other mechanisms to fund the Continue Reading
As utilities restore power to millions, a more active tropical season is forecast
On the heels of the havoc wrought by hurricane/tropical storm Isaias, with loads commensurately lighter and spot prices generally weaker than normal, experts have increased the number of named storms Continue Reading
U.S. Shale Remains In Survival Mode For Another Year
After slashing capex plans for 2020 and idling rigs by the dozen, U.S. shale drillers are still not ready to return to their default state of perpetual growth. Oil is Continue Reading
Giant American Cars Don’t Belong on the Streets of the Future
As so many other things have been, the U.S. auto market has been whipsawed by the coronavirus pandemic. In April, seasonally adjusted U.S. car and light truck sales fell to only Continue Reading
Transocean Hires Adviser To Consider “Strategic Alternatives”
The world’s largest offshore rig operator Transocean has hired Lazard to advise it on strategic alternatives for its capital structure, Bloomberg has reported, citing a company statement. Transocean reported a Continue Reading
Exclusive: BP poised to sell ‘stranded assets’ even if oil prices rally
BP ( BP.L ) is preparing to sell a large chunk of its oil and gas assets even if crude prices bounce back from the COVID-19 crash because it wants Continue Reading
Crude oil futures stable on US stocks draw; COVID-19 cases
Crude oil futures were rangebound during mid-morning trade in Asia Aug. 6 as the continued spread of COVID-19 worldwide weakened sentiment, overturning some of the gains from the overnight rally Continue Reading
Oil Climbs From Five-Month High With U.S. Stockpiles Shrinking
Oil extended gains after closing near a five-month high in New York on Wednesday as U.S. crude stockpiles declined more than expected, offsetting expanding fuel inventories and softer demand. Crude stockpiles Continue Reading
Oil prices just under five-month highs, supported by weaker dollar
Oil prices slipped just below five-month highs on Thursday, with support from a weak dollar .DXY and falling U.S. crude inventories undermined by bearish sentiment about fuel demand. Brent crude Continue Reading
Brent Tops $45
Oil climbed to a five-month high in London, topping $45 a barrel after U.S. industry data showed a decline in the nation’s stockpiles. Brent futures gained for a fourth day, Continue Reading
Rising temperatures will cause more deaths than all infectious diseases – study
The growing but largely unrecognized death toll from rising global temperatures will come close to eclipsing the current number of deaths from all the infectious diseases combined if planet-heating emissions Continue Reading
Is Natural Gas Still The Fuel Of The Future?
BP now says it will reduce its oil and gas production by 40 percent by 2030 as part of its pivot to low-carbon operations. But many will wonder why natural Continue Reading
OPEC Middle East Oil Flows Edge Higher on Easing of Output Cuts
Oil exports from OPEC’s Middle East producers rose in July after Saudi Arabia and key Persian Gulf allies reversed the voluntary production cuts they had made the previous month. The Continue Reading
Record heat, politics inflame Iraq’s electricity shortages
In Iraq’s oil-rich south, the scorching summer months pose painful new choices in the age of the coronavirus: stay at home in the sweltering heat with electricity cut off for Continue Reading
In heat-struck Iraq, power shortages prompt protests
In Iraq’s oil-rich south, the scorching summer months pose painful new choices in the age of the coronavirus: stay at home in the sweltering heat with electricity cut off for Continue Reading
Record heat, politics inflame Iraq’s electricity shortages
Laith Jabbar, a gas station worker drinks water in Basra, Iraq, on Monday, July. 27, 2020. As temperatures soar to record levels this summer, Iraq’s power supply falls short of Continue Reading
Iraq to Be ‘Forced’ to 100% OPEC+ Compliance, Oil Minister Says
Iraq will be forced into 100% compliance with the OPEC+ deal in August and September as the producer group loses patience with the laggard, the country’s oil minister said on Continue Reading
After nearly 20 years, India’s oil demand seen slipping into the red
Hopes that India’s oil demand will recover in the second half of the year is fading fast as some provinces implement partial lockdowns to battle the COVID-19 pandemic, prompting refiners Continue Reading
Argentina Scrambles To Salvage Its Shale Boom
Only two years ago analysts were hailing Argentina’s emerging shale oil boom, which many believed would be the next major petroleum frontier in Latin America. The vast Vaca Muerta, or Continue Reading
Venezuela’s Rig Count Officially Falls To Zero
Venezuela no longer has any operational oil rigs after the last oilfield services firm that was still drilling for oil in the country holding the world’s largest crude oil reserves Continue Reading
Mexican President May Change Constitution To Strengthen Control Of State-Owned O
The Mexican government may need to effect changes in the country’s constitution to strengthen its control of state oil giant Pemex, President Andres Manuel Lopez Obrador said in a memo Continue Reading
China’s Crude Oil Imports Drop From Record Highs
China’s crude oil imports are estimated to have dropped in July by 3 percent from June, but they were still much higher than the import volumes in July 2019, data Continue Reading
Battle Over Gas Project May Shape Australia’s Energy Future
A key battle over the future of fossil fuels and climate change will soon be decided in a sleepy corner of Australia. After a decade-long struggle pitting a mix of farmers, Continue Reading
Toyota’s profit plunges as pandemic halves vehicle sales
Toyota’s profit plunged 74% in the last quarter as the coronavirus pandemic sank vehicle sales to about half of what the top Japanese automaker sold the previous year. Toyota Motor Continue Reading
Why We Won’t See An Oil War In The South China Sea
Barrels of ink have been spilled covering the geopolitical conflicts in the South China Sea over the past few years, with plenty of speculation over whether these diplomatic tensions could Continue Reading