Libya’s National Oil Corp. has declared force majeure on all oil exports, barely a day after lifting it, the state-owned company said in a statement. NOC condemned the renewed blockade on Libyan Continue Reading
Global oil market analysts are carefully watching the latest news emerging from Africa’s (potentially) largest oil producer. In an unexpected move, Libya’s National Oil Corporation (NOC) stated lifted the force Continue Reading
China is preparing for flooding in its northern regions that could potentially hurt crop output amid torrential rain that’s lasted over a month and caused billions of yuan in economic damage. The Continue Reading
Many of Asia’s developing countries have long relied on factories producing T-shirts, trousers and shoes that employ millions of people and help them climb the income ladder. This is how Continue Reading
China bought up so much oil during April and May’s oil price crash that now they don’t know what to do with it all. A huge volume of the purchases Continue Reading
A Russian mining giant, which is already in a dispute with authorities over a fuel spill in the Arctic earlier this year, has suffered a leak in a pipeline. MMC Continue Reading
When an oil bust takes hold in West Texas, no one is spared: Drilling rigs collect dust, barber chairs sit empty, students drop out of school and lines swell at Continue Reading
US crude production has already peaked, according to one of the country’s leading shale executives, as producers battered by the price crash shun new output growth and start trying to Continue Reading
The day the debt-ridden Texas oil producer MDC Energy filed for bankruptcy eight months ago, a tank at one of its wells was furiously leaking methane, a potent greenhouse gas, Continue Reading
United Airlines announced plans to lay off more than one-third of its 95,000 workers. Brooks Brothers, which first opened for business in 1818, filed for bankruptcy. And Bed Bath and Continue Reading
Oil rebounded as a new virus treatment showed promising results, but rising Covid-19 cases continued to weigh on the market. Oil gained 2.4% in New York on Friday but is Continue Reading
Oil prices fell on Thursday as COVID-19 cases continued to spike in the U.S., which the IEA highlighted as a major threat to oil markets in today’s report, but prices Continue Reading
Oil rebounded as a new virus treatment showed promising results, but rising Covid-19 cases continued to weigh on the market. Oil gained 2.4% in New York on Friday, but is still Continue Reading
The oil market’s massive inventory problem – Oil inventories increased in the second quarter at a rate of nearly 1.8 mb/d, more than four times the ten-year average, according to Continue Reading
Global oil demand is set to crash by 7.9 million barrels per day (bpd) this year, the International Energy Agency (IEA) said on Friday, but this forecast is slightly more Continue Reading
The resurgence of coronavirus cases in several parts of the world is “casting a shadow” over the oil market’s nascent recovery, the International Energy Agency has warned. “In some countries, [the] Continue Reading
Europe’s $36 billion of airline bailouts could herald a shift to lower-emission travel as countries impose environmental strings on aid. Those requirements may also mean customers have less choice and Continue Reading
The amount of global consumption lost in the pandemic roughly equals the size of the German economy, but the slump also led to the biggest ever drop in greenhouse gas Continue Reading
“After months of this crew-change crisis getting worse, governments must do their bit,” said Stephen Cotton, general secretary of the International Transport Workers’ Federation. “That means that port states where Continue Reading
As Iran’s center for advanced nuclear centrifuges lies in charred ruins after an explosion, apparently engineered by Israel, the long-simmering conflict between the United States and Tehran appears to be escalating Continue Reading
Iran is expanding its oil-production capacity in anticipation that an eventual end of sanctions would allow it to wrest back its share of the global crude market, according to Oil Continue Reading
Iran’s Persia Oil and Gas Industry Development Co. signed a $463 million agreement with state-run National Iranian Oil Co. to operate and further develop Yaran oil field close to the border Continue Reading
An explosion at the heart of Iran ‘s nuclear programme in the dead of night. An obscure group called the Cheetahs of the Homeland takes credit for it. Then there Continue Reading
After six months of port blockades and no exports, Libya’s National Oil Corporation (NOC) said on Friday that it lifted force majeure on all oil exports from Libya, potentially giving Continue Reading
The battle for Libya is threatening to turn into direct clashes between the Turkish and Egyptian militaries, now that Turkey has categorically rejected Egypt’s ceasefire deal. This rejection was followed Continue Reading
Force majeure lifted from all key terminals Production increase will take long time due to technical problems Kriti Bastion tanker loading crude from Es Sider Libya’s National Oil Corporation lifted Continue Reading
The United States and Libya are probing a suspected scheme in which eastern Libyan strongman Khalifa Haftar is allegedly paying Nicolas Maduro’s regime in Venezuela U.S. dollars in exchange for Continue Reading
Venezuela’s Oil Minister Tareck El Aissami said he’s tested positive for Covid-19 five days after a televised meeting alongside President Nicolas Maduro. He is the second close ally of President Maduro Continue Reading
Exxon Mobil Corp. resumed drilling in Guyana last month, underscoring its dedication to the offshore hotspot despite the oil price crash and a messy turn in local politics. Two of Exxon’s Continue Reading
While the U.S. deals with the new coronavirus, racial injustice and a presidential campaign, tensions with China continue to unfold. WSJ’s Gerald F. Seib explains. Photo: Wang Zhao/AFP President Trump Continue Reading
China’s auto sales rose 1.8% in June over a year earlier but fell by double digits for the first half of 2020 after the country shut down to fight the Continue Reading
A U.S. Supreme Court decision recognizing about half of Oklahoma as Native American reservation land has implications for oil and gas development in the state, raising complex regulatory and tax Continue Reading
The mood was celebratory on a humid June evening in 2011 as a red-and-white Gulfstream G450 belonging to Honeywell International Inc. took off from a New Jersey airport at sunset Continue Reading
Leaders of state transportation departments across the nation say the coronavirus pandemic has left them facing an estimated $50 billion shortfall in funding needed to repave rutted and pockmarked roads, maintain Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 5, to 258, marking the eighteenth loss in the Continue Reading
The United States produced, consumed, and exported record volumes of natural gas last year, following years of rising output due to fracking and horizontal drilling, the Energy Information Administration (EIA) Continue Reading
This week was an ugly one for American shale: Several pipeline projects–both those existing and in the works–took severe hits that will have a profound effect on the shale industry Continue Reading
Shell is idling a unit at the Deer Park, Texas, refinery for several months due to low demand for fuels, sources familiar with the refinery’s operations told Reuters . The Continue Reading
Western wholesale power prices in June jumped on average 26% month on month as demand increased with the continued reopening of businesses and with warmer weather moving into the region. Continue Reading
US auto sales fell over 25% on the year in June, with July buying activity still facing uncertainty due to market disruptions caused by the coronavirus pandemic, according to industry Continue Reading
The number of rotary rigs operating in the U.S. decreased over the past week but increased in Canada, Baker Hughes Co. reported Friday. The number of rotary rigs operating in Continue Reading
Oil refineries aren’t being spared as Covid-19 sweeps through Texas, which is setting records for new infections and hospitalizations in the U.S. almost daily. The second-biggest U.S. refinery, Marathon Petroleum Continue Reading
When an oil bust takes hold in West Texas, no one is spared: Drilling rigs collect dust, barber chairs sit empty, students drop out of school and lines swell at Continue Reading
The record stockpile of natural gas in northwest Europe and Italy is eating into the regions’ thirst for Gazprom’s product, according to Reuters, and the Russian gas giant has lost Continue Reading
Most EU natural gas grids are not set up yet to allow hydrogen to be injected, according to a survey of transmission system operators by 23 EU national regulators. Not Continue Reading
European driving activity continues to rebound from lockdown lows of April but road fuel demand may yet to have reached seasonal year-ago levels, according to the latest demand and mobility Continue Reading
Denmark has not yet received an updated plan from the developer of the Nord Stream 2 gas pipeline from Russia to Germany on the schedule for laying the remaining kilometers Continue Reading
Oil fell as the International Energy Agency said a jump in Covid-19 cases could derail the market recovery, while Libya signaled the potential restart of crude exports. Futures slipped below $39 Continue Reading
Oil prices fell on Friday, adding to steep losses from the previous session, and were headed for weekly declines on worries that renewed lockdowns following a surge in coronavirus cases Continue Reading
Oil tumbled to the lowest level in more than a week as a resurgence in coronavirus cases and impending U.S. layoffs darken the economic outlook. Futures in New York slid Continue Reading
