Permanent changes to social behavior in the wake of coronavirus lockdowns are likely to hit long term oil demand forecasts and accelerate the shift to cleaner fuels but may be Continue Reading
U.S. gasoline demand has collapsed as stay-at-home orders keep drivers off the road, following the pattern seen in the hardest-hit parts of Europe. Sales at retail stations were down 46.6% Continue Reading
Shipments of liquefied natural gas will decline from record levels as global economic growth weakens and energy consumers work through a glut, an industry group said. LNG imports surged 13% to Continue Reading
Airborne methane levels rose markedly last year, according to a preliminary estimate published today by the U.S. National Oceanic and Atmospheric Administration. The results show a dramatic leap in concentration of the second most-powerful Continue Reading
An oil export terminal blockade that led to the shut down of fields and refineries has so far cost Libya close to $4 billion, the National Oil Corporation said in Continue Reading
Qatar is pushing back the start-up of the first phase of its North Field LNG Expansion Project by up to six months so that it will now enter production in Continue Reading
Iran demanded on Wednesday that U.S. oil production levels must be known before an upcoming OPEC meeting with Russia and others seeking to boost global energy prices. The meeting of Continue Reading
The authorities running eastern Libya on Tuesday confirmed a first case of the coronavirus despite efforts to close borders and impose a curfew to limit social interactions. Libya has confirmed Continue Reading
On a sprawling abandoned sugar estate by the coast of Guyana, the scale of the changes sweeping across the country is immediately visible. In just a few years, enormous warehouses Continue Reading
Petrobras has set its April oil production at 2.07 million barrels per day (bpd), after having reduced production by 200,000 bpd in the past two weeks in response to the Continue Reading
China’s lockdown may have reduced air pollution as factories and power plants halted, but the pandemic has had the opposite effect on the nation’s nascent recycling effort. Millions of people in Continue Reading
Stuck in the same bind as many other Chinese farmers whose crops are rotting in their fields, Jiang Yuewu is preparing to throw out a 500-ton harvest of lotus root Continue Reading
Roman Pilipey/EPA, via Shutterstock China on Wednesday ended its lockdown of Wuhan , the city where the coronavirus first emerged and a potent symbol in a pandemic that has killed Continue Reading
For months, Japan has confounded the world by reporting a relatively low rate of coronavirus infections without imposing the kind of stringent measures used by other nations. As the country Continue Reading
Commuters heading to work packed into trains in the Japanese capital on Wednesday, the first day of a state of emergency aimed at containing the coronavirus outbreak, with some expressing Continue Reading
The Chinese city where the new coronavirus emerged ended its more-than two-month lockdown on Wednesday, even as a small northern city ordered restrictions on its residents amid concern about a Continue Reading
WUHAN—Chinese leaders and many medical experts have held up this city as an example of what can be achieved through extreme efforts to contain the coronavirus. It’s now becoming clear Continue Reading
China on Wednesday ended its lockdown of Wuhan , the city where the coronavirus first emerged and a potent symbol in a pandemic that has killed tens of thousands of Continue Reading
Disinfect hands and shoes at the factory gate. Bring your own towel. No sunny-side-up eggs. Chinese companies are going to extreme lengths to stave off new coronavirus outbreaks as they Continue Reading
ExxonMobil is slashing this year’s capital spending plans by $1obn and will cut cash operating expenses by 15 per cent as it seeks to preserve its dividend in the face of Continue Reading
The Trump administration is aiming to reopen the U.S. economy when the nation’s top health experts give the go-ahead, but Americans’ lives will be drastically different, White House economic adviser Continue Reading
Saudi Arabia, Russia and allied oil producers will only agree to deep cuts to their crude output at talks this week if the United States and several others join in Continue Reading
U.S. President Donald Trump sharply criticized the World Health Organization on Tuesday, accusing it of being too focused on China and issuing bad advice during the coronavirus outbreak. “The W.H.O. Continue Reading
The U.S. cut its 2020 oil production forecast by more than 1 million barrels a day, as collapsing crude prices and plummeting demand threaten to shutter production in the country’s Continue Reading
Almost 40% of oil and natural gas producers face insolvency within the year if crude prices remain near $30 a barrel, according to a new survey by the Federal Reserve Bank Continue Reading
Natural gas production in the U.S. is expected to drop by the fastest pace ever in 2021 as drillers slash spending in response to the coronavirus pandemic that’s sending oil Continue Reading
Alberta Premier Jason Kenney said the crisis rocking the global oil industry could cause at least 25% unemployment in his province. The dual shocks of the Saudi-Russian oil price war and Continue Reading
Exxon Mobil Corp. more than doubled the budget cuts announced by any other shale company on Tuesday amid an historic crude-market crash. In all, nearly three dozen shale explorers have slashed Continue Reading
Greenhouse gas emissions from power plants, cars and other sources in the U.S. are forecast to decline by a whopping 7.5% this year as people use less energy amid a Continue Reading
Out in the Piney Woods of East Texas, on the outskirts of a town that’s supported a thriving logging industry for more than a century, there’s a hulking power plant Continue Reading
U.S. production of crude oil will fall 13% by year’s end, according to a government forecast Tuesday—numbers the White House hopes to use to convince Saudi Arabia and Russia to Continue Reading
Two of President Trump’s closest advisers on Tuesday predicted the economy will roar back to life later this year, even as China’s sluggish recovery from the coronavirus shows such optimism might Continue Reading
Forecast Highlights Global liquid fuels Although all market outlooks are subject to many risks, the April edition of EIA’s Short-Term Energy Outlook is subject to heightened levels of uncertainty because Continue Reading
Due to the combined global effect of the Covid-19 pandemic and the ongoing oil price war, the American oil and gas industry is stepping heavily on the brake pedal and Continue Reading
ExxonMobil said Tuesday it will slash its 2020 capital spending by $10 billion as North America’s largest energy company cuts its bottom line deeper than the other integrated oil majors Continue Reading
The US Energy Information Administration forecast coal production of nearly 557 million st in 2020, down 22.2% from the estimated 2019 output of 690 million st, the Energy Information Administration’s Continue Reading
The US Energy Information Administration on Tuesday cut its US oil output forecast by 1.23 million b/d for 2020 and by 1.63 million b/d for 2021 due to declining prices Continue Reading
Inside more than a thousand offshore drilling rigs and oil production platforms that dot the Gulf of Mexico, workers navigate narrow corridors, sleep in shared rooms and dine in crowded Continue Reading
CEO Matt Gallagher said he’d reduce his company’s oil output by 20 percent if others agree to the same deal. (Bloomberg) — Parsley Energy Inc., one of two shale drillers Continue Reading
Government officials and business leaders are turning their attention to a looming challenge in the fight against the new coronavirus pandemic: Reopening a $22 trillion U.S. economy that has been shut Continue Reading
The cutbacks are a sign of the varied impact coronavirus-driven restrictions are having on different parts of the U.S. economy. Supermarket chains and retailers with strong online operations are wrestling Continue Reading
“We haven’t seen anything like what we’re experiencing today.” ExxonMobil’s CEO Darren Woods said his company is expecting oil demand to decline by 20 to 30 percent because of the Continue Reading
As leaders around the globe compete with ever-bigger spending packages, the Kremlin is hoarding hundreds of billions of dollars in reserves, worried that oil prices will stay low for a Continue Reading
With the virtual OPEC+ meeting where Russia and Saudi Arabia were to discuss output cuts to end the oil price war delayed Monday, oil prices took a huge beating–but Russian Continue Reading
The number of coronavirus cases in Russia rose by more than 1,000 for the second day running, taking the total to 8,672, the crisis response centre said on Wednesday. The Continue Reading
The French economy shrank the most since World War II in the first quarter, and the outlook for the rest of the year is souring significantly amid the confinement to Continue Reading
Oil rose on Tuesday amid hope that the world’s biggest producers of crude will agree to cut output as the coronavirus pandemic crushes demand, even as analysts warn a global Continue Reading
Oil resumed gains on signs that the world’s biggest producers are moving toward a deal to end their price war and cut output as the coronavirus eviscerates energy demand. Futures in Continue Reading
Oil recorded its first loss in three days on signals that a glut is growing at America’s biggest storage depot and concern that an upcoming meeting among producers won’t yield Continue Reading
The world’s largest oil producers are pressing ahead with talks for an unprecedented deal to mitigate the devastating impact of the coronavirus crisis on their industry, even as their leaders Continue Reading
