China Likely to Show Covid-19 Recovery Can Be Real: Eco Week
China is about to show the world that its economy is pulling further out of the chasm created by the coronavirus, setting it apart from other nations struggling to avoid Continue Reading
Biden Won’t Ban Fracking, But His Clean Grid Would Choke Gas
During a town hall meeting Thursday, Democratic presidential nominee Joe Biden again assured shale producers that he wouldn’t ban fracking if elected. Then, in virtually the same breath, he touted Continue Reading
Pressure on New York City Commercial Real Estate Worries Investors
Investors watch New York closely because Wall Street slices such loans up, packages them together into bonds and sells them to pension funds and asset managers worldwide. Collapsing prices for Continue Reading
As the Virus Surges, Stark Differences Over What Is Around the Corner
As the coronavirus continued to surge in many parts of the United States, officials and experts offered starkly different outlooks on Sunday about what was to come and when the Continue Reading
Russia shuns tough restrictions even as infections soar
It’s Friday night in Moscow, and popular bars and restaurants in the city center are packed. No one except the staff is wearing a mask or bothers to keep their Continue Reading
Poland to open temporary hospital at national stadium in Warsaw
Poland plans to open a temporary hospital at the national stadium in Warsaw as it faces a spike in coronavirus cases and a health system overload, the government said on Continue Reading
Oil Prices Manage Slight Gain for Week
Oil posted a small weekly gain on tentative signs that demand is picking up even as a new wave of coronavirus cases casts a shadow over the market. Futures in Continue Reading
Oil dips on COVID-19 resurgence, fears of more supply
Oil prices edged lower on Friday, dragged down by concerns that a spike in COVID-19 cases in the United States and Europe will continue to drag on demand in two Continue Reading
Oil Falls as Demand Woes Counter Stockpile Drop
Oil fell toward $40 a barrel as the prospect of a resurgent virus forcing more stay-at-home measures in Europe and the U.S. outweighed a bigger-than-expected drop in American stockpiles. (Bloomberg) Continue Reading
COVID Kills Another Oil Rally
Yet another oil price rally has been cut short by COVID, with cases climbing in both the U.S. and across Europe as hopes of speedy oil demand recovery fade. For Continue Reading
Natural Gas Is Booming In Africa
In 2018, while much of the world was leaving coal-fired power in the past and moving toward greener pastures (so to speak) coal was barreling full steam ahead in the Continue Reading
Azerbaijan and Armenia allege truce violations, accuse each other in shelling
Azerbaijan and Armenia accused each other on Saturday of fresh attacks in violation of a week-old Russian-brokered truce that has failed to halt the worst fighting in the South Caucasus Continue Reading
Indian cinemas reopen after going dark for months amid virus
Seven months after screens went dark, cinemas reopened Thursday in much of India with mostly old titles on the marquee — a sign of the country’s efforts to return to Continue Reading
Argentina Looks To Attract $5B Investment To Boost Shale Gas Production
Argentina unveiled this week a new plan for natural gas development, looking to attract US$5 billion in company investments to revitalize gas production in the Vaca Muerta shale play and Continue Reading
China’s Oil Imports Are Falling
China, which has been on an oil-buying binge since the start of the pandemic, is now retreating as storage space fills up and demand for fuels in the regions it Continue Reading
Driverless race steps up with Cruise allowed to drive empty in San Francisco
The race for driverless autonomous vehicles is heating up and on Thursday Cruise became the first to receive a permit to test cars without anyone in them on the streets Continue Reading
U.S. Oil Rig Count Leaps Higher
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 12 to 205—a gain that may push prices down further. The total number Continue Reading
Dakota Access Oil Pipeline Clears Hurdle To Doubling Capacity
Illinois approved this week the plan for the Dakota Access Pipeline to double its capacity from 570,000 bpd to 1.1 million bpd, thus becoming the last state along the pipeline’s Continue Reading
Canada Government Invests In Mini Nuclear Reactors
The federal Canadian government has allocated US$15.11 million (C$20 million) for investments in mini nuclear power plants as part of efforts to reduce the country’s carbon footprint. The money will Continue Reading
Stripper Lives Matter
396,000 marginal stripper oil wells produced 284 million barrels of oil in 2016 in the United States. So who really gives a rats ass, right? All of the US shale Continue Reading
Conoco Closing in on Concho in Year’s Biggest Oil Deal
ConocoPhillips is nearing a deal to acquire Concho Resources Inc. , according to people familiar with the matter, in what could be the largest shale industry deal since the collapse Continue Reading
U.S. Industrial Production Fell 0.6% in September
The survey of new orders for long-lasting goods contains one of the most closely watched U.S. economic indicators. WSJ explains durable goods, and why investors look beyond the headline number Continue Reading
Live updates: U.S. surpasses 64,000 new coronavirus infections two days in a row for first time since late July
People dine in plastic tents at a Manhattan restaurant on Thursday. For the first time since late July, the tally of newly reported coronavirus cases in the United States surpassed Continue Reading
Schlumberger Books Third Loss This Year As Oil Crisis Bites
The world’s largest oilfield services provider, Schlumberger ( NYSE: SLB ), reported on Friday its third consecutive quarterly loss this year as exploration and production companies drastically reduced demand for Continue Reading
Permian winter 2020-21 market bulls defy autumn-season volatility in Waha cash trade
As spot gas markets in the Permian Basin struggle to gain a foothold above $1 this month, forwards traders appear confident that winter prices there will likely climb to their Continue Reading
GM renames Detroit-Hamtramck to Factory ZERO; $2.2B investment to reconfigure it to all EV assembly
General Motors announced its Detroit-Hamtramck Assembly Center will be known as Factory ZERO, reconfigured to an all-electric vehicle assembly plant. The name Factory ZERO reflects the significance of this facility Continue Reading
Coronavirus spending pushes U.S. 2020 fiscal year deficit to record $3.132 trillion
The U.S. budget deficit hit a record $3.132 trillion during fiscal 2020, more than triple the 2019 shortfall due to massive coronavirus rescue spending, the U.S. Treasury said on Friday. Continue Reading
Brexit Latest News: Boris Johnson Says U.K. Preparing for No-Deal Brexit
Negotiations between Britain and the European Union are set to continue next week even after Boris Johnson said he believes a trade deal is now unlikely. The prime minister insisted the Continue Reading
Crude oil futures fall on bearish US export data, escalating coronavirus restrictions
Crude futures fell during mid-morning Asian trade Oct. 16, extending overnight losses, as a decline in US exports and escalating coronavirus restrictions overshadowed the large draw in US crude inventories. Continue Reading
Oil Prices Falter Despite US Inventory Draws
Oil recovered from early losses amid shrinking American crude and refined product stockpiles. (Bloomberg) — Oil recovered from early losses as shrinking American crude and refined product stockpiles offset signs Continue Reading
Oil demand to peak by 2040 as transport demand stagnates post-coronavirus: IEEJ
Global oil demand is forecast to peak by around 2040 because transport-fuel demand will decline steeply and economic growth will slow in the post-coronavirus world, the Institute of Energy Economics, Continue Reading
Oil Pares Losses After U.S. Crude and Fuel Supplies Decline
Oil recovered from early losses as shrinking American crude and refined product stockpiles offset signs that the fragile demand recovery is under threat. Futures in New York ended the session little Continue Reading
The Future of Energy Is About Technology, Not Fossil Fuels
Oil forecasters have had the same long-term challenge for decades: figuring out how much of the world’s liquid hydrocarbons will be in demand years into the future, and where, and Continue Reading
The Hydrogen Boom Will Provide A $200B Boost To Wind And Solar Energy
The renewable energy sector has lately been sizzling with very bullish projections–and a few bearish ones–coming from Wall Street. Solar stocks have especially been shooting the lights out as a Continue Reading
Forget Peak Oil Demand, Supply Crisis Could be Hitting First
In today’s IEA’s annual World Energy Outlook 2020 report, the OECD energy watchdog states that it doesn’t see a peak oil demand before 2040, only a possible oil demand flattening. Continue Reading
The World’s Growing Nuclear Waste Dilemma
Nuclear energy has long been touted as a promising form of energy production for a decarbonizing global economy. Nuclear power is efficient, it’s established, and it has zero carbon emissions. Continue Reading
Countries Are Hoarding Food as Prices Rise and Covid Worsens
Agricultural commodity buyers from Cairo to Islamabad have been on a shopping spree since the Covid-19 pandemic upended supply chains. Jordan has built up record wheat reserves while Egypt, the world’s Continue Reading
Carbon Capture Is Going To Become Critical
“Reaching net zero will be virtually impossible without CCUS,” the International Energy Agency (IEA) said in a recent report on the role of carbon capture, utilization, and storage in the Continue Reading
OPEC Oil Production for September 2020
Data for the OPEC charts below are from the OPEC Monthly Oil Market Report and is in thousand barrels per day. All data is through September 2020. There was little Continue Reading
Net Zero Goals Impossible Without Costly Carbon Capture
“Reaching net zero will be virtually impossible without CCUS,” the International Energy Agency (IEA) said in a recent report on the role of carbon capture, utilization, and storage in the Continue Reading
SpaceX Sentinel-6 Michael Freilich Satellite Tracks Rising Seas, Climate Damage –
A new payload that Elon Musk’s SpaceX will deliver into orbit next month will play a pivotal role in measuring sea level increases, potentially helping to spare economies from billions of euros in Continue Reading
OPEC+ Discusses Stalled Demand Recovery, Return Of Libyan Oil
A panel of the OPEC+ group is discussing on Thursday the current major downside risks to oil prices—the return of oil supply from Libya and the rising coronavirus cases that Continue Reading
OPEC+ confronts bearish oil outlook, as talk of extending output cuts grows
Highlights Barkindo says global oil demand ‘still looking anemic’ Monitoring committee meets Oct 19, catch-up cuts in focus Market risks ‘skewed to the downside,’ OPEC+ analysis says London — With Continue Reading
Iraq’s September production drops 200,000 bpd toward OPEC+ compliance
Under pressure from the OPEC-plus coalition to compensate for past over-production, Iraq makes painful cuts mainly from IOC-operated fields. Iraqi Drilling Company personnel drill a well at the West Qurna Continue Reading
Nigeria’s Army Says It Is Prepared to Step In to Quell Protests
A demonstration in Lagos, Nigeria, on Thursday continued more than a week of protests against police brutality. Nigeria’s army signaled it was prepared to intervene in a standoff between a Continue Reading
Africa’s largest dam powers dreams of prosperity in Ethiopia — and fears of hunger in Egypt
A colossal dam is near completion on Ethiopia’s stretch of the Nile, a project so large that it promises to set the country on a path to industrialization that could Continue Reading
Nigerian State Oil Firm Says It Slashed Losses In Rare Financial Release
The Nigerian National Petroleum Corporation (NNPC) said in a very rare financials release on Thursday—the second in over four decades—that its losses shrank by 99.7 percent in 2019, while “the Continue Reading
Indian cinemas reopen after going dark for months amid virus
NEW DELHI (AP) — Seven months after screens went dark, cinemas reopened Thursday in much of India with mostly old titles on the marquee — a sign of the country’s Continue Reading
Oil Giants Play It Cool As World’s Largest Crude Market Recovers
The Asian market has moved into a state of cautious expectation. Although October is still only halfway through, one can state with a great degree of certainty that this month’s Continue Reading
US crude stocks fall as Hurricane Delta shuts in production, exports
US crude stocks moved lower last week as Hurricane Delta shut in Gulf of Mexico output and exports hit a 14-month low, US Energy Information Administration data showed Oct. 15. Continue Reading