Nearly four-fifths of U.S. oil and gas production in the Gulf of Mexico remains offline, more than 10 days after Hurricane Ida tore through Louisiana, as companies struggle to restart Continue Reading
Forecast Highlights Global liquid fuels The September Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty related to the ongoing recovery from the COVID-19 pandemic. U.S. economic activity continues to Continue Reading
Hurricane Ida’s disruption to the U.S. offshore energy production in the Gulf of Mexico is the worst in 16 years. It has already stressed domestic and global supply chains, further Continue Reading
The Energy Information Administration has estimated that U.S. crude oil production isn’t going to see much of a rebound for the rest of the year, according to the latest Short Continue Reading
Oil rigs are seen in the Gulf of Mexico after Hurricane Ida made landfall in Louisiana, in Grand Isle, Louisiana, U.S. August 31, 2021. REUTERS/Marco Bello/File Photo NEW YORK, Sept Continue Reading
Goldman Sachs Group Inc. economists revised down their forecast for growth in the U.S. economy this year, pointing to a “harder path” ahead for the American consumer than previously anticipated. Continue Reading
Companies are delaying sending employees back on the road this fall amid another surge in coronavirus cases. Airlines and hotels had hoped that business travel—one of the most lucrative pillars Continue Reading
More than a week after Hurricane Ida made landfall in Louisiana, nearly 90 percent, or some 1,6 million bpd of U.S. Gulf oil production remains shut-in, more than 80 percent Continue Reading
Hurricane Ida has led to the largest-ever initial loss of crude oil production in the U.S. Gulf of Mexico from a hurricane in the ten days since the first platforms Continue Reading
Shell redeploying workers evacuated due to Hurricane Ida to the Enchilada/Salsa asset but around 80 percent of its production in the Gulf of Mexico is still offline. Supermajor Shell has Continue Reading
More than 40 million cases of the coronavirus have been recorded in the United States, according to a New York Times database. The total number of known infections, more than Continue Reading
China and the US have failed to reach a climate agreement after Biden’s climate envoy John Kerry pushed Beijing to make more public pledges before a UN climate summit in Continue Reading
Damages to oil production facilities in the U.S. Gulf of Mexico on Sunday kept output largely halted a week after Hurricane Ida made landfall, according to offshore regulator the Bureau Continue Reading
Back in the spring, a shortage of computer chips that had sent auto prices soaring appeared, finally, to be easing. Some relief for consumers seemed to be in sight. That Continue Reading
Earlier this year, as oil prices recovered from their pandemic lows and oil-producing companies miraculously stuck to their pledged production cuts, headlines were flooded with semi-alarmist speculation about painfully high Continue Reading
Future electricity systems must be made more resilient Prolonged blackouts in Louisiana following Hurricane Ida are a reminder the power grid needs to become more resilient as well as reliable Continue Reading
The Automotive Monthly Metals Index (MMI) fell by 1.4% for August’s MMI reading. US auto sales Ford Motor Co. reported its August retail sales increased by 6.5% from the previous Continue Reading
Highlights 88% of oil, 83% of gas still offline: BSEE Port Fourchon tenants given access to facilities Marathon, ExxonMobil restarting plants A week after Hurricane Ida made landfall, 1.607 million Continue Reading
Americans are paying the most expensive Labor Day weekend gasoline prices since 2014 amid constrained stock levels and high benchmark crude oil prices. The end of the U.S. driving season Continue Reading
The American economy slowed abruptly last month, adding 235,000 jobs, a sharp drop from the huge gains recorded earlier in the summer and an indication that the Delta variant of Continue Reading
Storm-battered Louisiana residents and area businesses, who have endured almost a week without electricity, are having trouble finding generators or fuel to power them, making it difficult for residents to Continue Reading
U.S. hiring slowed sharply in August as the surging Delta variant dented the pace of the economic recovery. The U.S. economy added 235,000 jobs last month, the Labor Department said Friday, falling Continue Reading
The semiconductor shortage is short-circuiting heavy-duty truck production as supply-chain disruptions hamper efforts to meet robust demand for new big rigs. North American production of Class 8 trucks, the big Continue Reading
The U.S. economy created the fewest jobs in seven months in August as hiring in the leisure and hospitality sector stalled amid a resurgence in COVID-19 infections, which weighed on Continue Reading
A global shortage in semiconductor chips has been wreaking havoc on diverse sectors, including the tech, automotive, consumer electronics industries, and everything in between. After years of tepid demand, the Continue Reading
WASHINGTON, Sept 2 (Reuters) – U.S. Energy Secretary Jennifer Granholm on Thursday authorized the country’s emergency oil reserve to loan 1.5 million barrels of crude to an Exxon Mobil (XOM.N) Continue Reading
The volume of oil shut in by Hurricane Ida in the Gulf of Mexico rose on Thursday to 1.7 million barrels per day of offshore oil output, up 240,000 barrels Continue Reading
The refineries in Louisiana that were shut ahead of or during the passing of Hurricane Ida this weekend could take weeks to restart as power and water services have yet Continue Reading
Highlights Production to stay shut-in pending confirmation Shore base, heliport temporarily relocated BP said Sept. 2 that flyovers across the US Gulf of Mexico have indicated “no obvious major damage” Continue Reading
U.S. Gulf Coast energy companies on Friday advanced the recovery from Hurricane Ida on a few fronts, but slipped elsewhere as lack of crews, power and fuel reversed earlier production Continue Reading
Most ports along the U.S. Gulf Coast had reopened on Thursday following lengthy closures from Hurricane Ida, which lashed southern Louisiana with 150-mile-per-hour winds that caused extensive infrastructure damage and Continue Reading
The global shortage of computer chips is getting worse, forcing automakers to temporarily close factories including those that build popular pickup trucks. General Motors announced Thursday, Sept, 2, 2021 that Continue Reading
Enbridge Inc. is getting ready to ship crude from the oil sands in the first new cross-border oil-sands conduit built between Canada and the U.S. in years. (Bloomberg) — Enbridge Continue Reading
Mexican oil is taking hit after hit this year. First, a deadly fire led to disruptions in production and then output was once again hindered by the anticipation of hurricane Continue Reading
The Texas oil refinery that Petroleos Mexicanos is buying has racked up a rare net loss of about $360 million this year, adding to the challenges Mexico faces in seeking Continue Reading
Reviving Louisiana refineries shut by Hurricane Ida could take weeks and cost operators tens of millions of dollars in lost revenue as water and electrical power are slowly restored, analysts Continue Reading
U.S. crude stocks dropped sharply while petroleum products supplied by refiners hit an all-time record despite the rise in coronavirus cases nationwide, the Energy Information Administration said on Wednesday. Crude Continue Reading
U.S. oil and gas companies strained to get offshore operations back up and running on Thursday as the extent of Hurricane Ida’s damages became more apparent. Ida’s 150-mile-per-hour (240 kph) Continue Reading
As oil prices rise and demand recovers, the U.S. oil industry is raising drilling and completion activity and has started to re-hire workers it had dismissed at the peak of Continue Reading
Residents in southern Louisiana braced for weeks without electrical power and disruption to their water systems in the wake of Hurricane Ida, one of the most powerful storms ever to Continue Reading
The damage to Louisiana’s power grid from Hurricane Ida is so extensive that the U.S. Coast Guard has joined the task of assessing the wreckage, a departure from its maritime Continue Reading
The Biden administration on Tuesday unveiled more than 16,500 acres (6,700 hectares) it plans to auction to oil and gas drillers early next year as it seeks to comply with Continue Reading
U.S. consumer confidence dropped in August to a six-month low, suggesting concerns over the delta variant and elevated prices are weighing on Americans’ views of the economy now and in Continue Reading
It’s the end of summer, and millions of Americans are about to pay the highest gas prices since 2014 , thanks to Hurricane Ida’s blow to the oil industry in Continue Reading
Port Fourchon, America’s biggest base supporting the U.S. Gulf of Mexico offshore oil industry, appears to have largely withstood a powerful punch left by Hurricane Ida after the Category 4 Continue Reading
Energy companies were assessing the health of refineries, pipelines, petrochemical plants, and offshore oil platforms along the central Gulf of Mexico early Monday, the morning after Ida struck Louisiana as Continue Reading
U.S. Gulf Coast energy companies began damage reviews at offshore production facilities and started evaluating onshore power losses after Hurricane Ida caused devastation in Louisiana and rampaged through offshore oil Continue Reading
Entergy Corp (ETR.N) said crews have begun assessing damage where it is safe to do now that Hurricane Ida, which weakened to a tropical storm on Monday, has passed through Continue Reading
Tight supplies of gasoline on the U.S. East Coast are being pressured by refinery outages from Hurricane Ida and the shutdown of a major pipeline that supplies fuel to the Continue Reading
Oil production in the U.S. Gulf of Mexico on Monday remained largely halted in the aftermath of Hurricane Ida, with 1.72 million barrels of output suspended, according to offshore regulator Continue Reading
