Texas Oil, Gas Drilling Permits Fell By A Third
The number of oil and gas drilling permits in Texas fell by a third in June from a year earlier, the state’s oil and gas regulator body said on Tuesday. Continue Reading
Analysis: US crude stocks race higher as exports flag, imports surge
A steep decline in US oil exports and a flood of imports pushed crude inventories higher last week, even as refinery inputs and refined product demand edged higher, US Energy Continue Reading
Nearly 94,000 OFS Job Losses Tied to COVID-19
The U.S. OFS job count fell 12.3 percent from February to June of this year, based on BLS data. The tally of oilfield services and equipment (OFS) sector job losses Continue Reading
US Refineries Still Running Below Seasonal Norm
U.S. gasoline demand recovered to where it was before the pandemic closed much of the country, but it’s still well-below where it usually is in height of the summer driving Continue Reading
Tesla ‘very close’ to level 5 autonomous driving technology, Musk says
U.S. electric vehicle maker Tesla Inc ( TSLA.O ) is “very close” to achieving level 5 autonomous driving technology, Chief Executive Elon Musk said on Thursday, referring to the capability Continue Reading
U.S. Hits 3 Million Confirmed Coronavirus Cases
After the coronavirus was first reported in the U.S. in January, the first million reported cases developed over roughly three months, as testing centered around those who had fallen ill Continue Reading
Hydrogen power After many false starts, hydrogen power might now bear fruit
But it will fill in the gaps, rather than dominating the economy CONVENTIONAL WISDOM holds that battery-powered cars are the future of motoring. But Hyundai, a big South Korean vehicle-maker, Continue Reading
Airbus Sales Drought Worsens With Third Month of Zero Jet Orders
Airbus SE failed to secure any aircraft orders for a third month this year, as the collapse in global air travel battered demand for new jetliners. The European planemaker attracted zero Continue Reading
Russian Company Refuses $2 Billion Government Bill for Arctic Fuel Spill
Russian President Vladimir Putin declared a national state of emergency over 20,000 tons of spilled diesel fuel in Siberia, an action that the government hasn’t taken during the coronavirus pandemic. Continue Reading
Russia Eyes Another Massive Gas Pipeline To China
The Chinese and Russian leadership have over the years intensified political and economic collaboration. Troubling relations with the West in general and the U.S. in particular are increasingly driving Beijing Continue Reading
Russia-led Nord Stream 2 Gas Pipeline Could Be Completed Soon
A Russian vessel capable of completing the pipelaying for the Gazprom-led Nord Stream 2 natural gas pipeline project left a German port on Wednesday and entered Danish waters where the Continue Reading
Researchers Look For Ways To Cut Norway’s Gargantuan $100 Billion Decommissionin
A new innovation center in Norway aims to find alternative and cost-efficient solutions aimed at reducing the huge US$100 billion decommissioning cost that the North Sea operators and countries face, Continue Reading
EU hydrogen strategy paves way for ‘green steel’ – at a cost: Eurofer
European Steelmakers’ Association Eurofer has welcomed the European Commission’s launch July 8 of its Hydrogen Strategy for a Climate-Neutral Europe as the region’s steelmakers prepare to become significant potential users Continue Reading
New EU Clean Hydrogen Alliance to build 6 GW of electrolyzer capacity by 2024
The public-private European Clean Hydrogen Alliance launched on July 8 plans to deliver the 6 GW of renewable hydrogen electrolyzer capacity by 2024 target set out in the European Commission’s Continue Reading
Intense Arctic Wildfires Set a Pollution Record
Intense wildfires in the Arctic in June released more polluting gases into the Earth’s atmosphere than in any other month in 18 years of data collection, European scientists said in Continue Reading
German exports rebound less than expected in May
German exports rebounded less than expected in May as demand remained subdued despite the lifting of lockdown measures introduced to contain the spread of the coronavirus, data published on Thursday Continue Reading
Russia reports more than 6,500 new coronavirus cases
Russia on Thursday reported 6,509 new cases of the novel coronavirus, pushing its official nationwide tally to 707,301, the fourth largest caseload in the world. The national coronavirus taskforce said Continue Reading
Alpine Glaciers Shrank Nearly 20% Over the Past Two Decades
The amount of ice in the Alps has shrunk 17% since the turn of the century, highlighting the severity of climate change as countries grapple with how to slow global Continue Reading
Green Energy News: Why Color of Hydrogen Matters to EU in Energy
Europe’s ambitious hydrogen strategy will be watched closely for clues to where the multi-billion-euro program will put its money for the clean-burning fuel. Hydrogen could meet up-to 24% of the world’s energy Continue Reading
German exports regain ground in May, but a long way to go
German exports regained some ground in May, though the gain was far short of making up for big losses at the height of the coronavirus pandemic in Europe, official figures Continue Reading
Oil Prices for July 8, 2020: Brent Crude, WTI
Oil was anchored below $41 a barrel with an industry report signaling a surprise gain in U.S. crude stockpiles, while concerns linger about the threat to demand from rising coronavirus Continue Reading
Oil Prices Edge Downward
Crude futures in New York were unable rise above $41 over mounting concerns that a recovery in U.S. gasoline demand is faltering with the coronavirus continuing to spread. Depressed demand Continue Reading
Top Energy Analyst Sees Oil Prices Soaring To $66 In 2021
The recovery in oil demand and the less-than-feared demand destruction earlier this year will support oil prices next year when producers will be playing catch up with demand, and Brent Continue Reading
EIA Raises Brent Crude Oil Price Outlook
The Energy Information Administration raised its price outlook for Brent crude to $41 per barrel for the second half of 2020—this is $4 per barrel higher than the EIA’s forecast Continue Reading
Oil Price Rally On Hold After API Reports Rising Crude Inventories
The American Petroleum Institute (API) estimated on Tuesday a build in crude oil inventories of 2.048 million barrels for the week ending July 3. Analysts had predicted an inventory draw Continue Reading
In The Physical Oil Market, Sour Barrels Trade at Sweet Prices
Leaving behind the waters of the Caribbean Sea, the 1,100-feet long oil tanker Maran Apollo is emblematic of the wider petroleum market. Steaming at 11.5 knots, she’s heading toward China, where Continue Reading
Big Oil’s Investment Risk Is Spiking
The major integrated oil companies: Shell,(NYSE:RDS.A, RDS.B); ExxonMobil, (NYSE:XOM); BP, (NYSE:BP); Chevron, (NYSE:CVX), and a few others, so named for their vertical stewardship of the hydrocarbon molecule from initial extraction Continue Reading
The World Can’t Take Much More Shale Gas
The coronavirus pandemic has stalled factories and shut down business around the world, causing a historic drop in oil demand just as production was reaching new highs. WSJ explains the Continue Reading
The Coronavirus Redraws the Car Market’s World Map
In recent years, purchasing managers indexes have become important indicators of where the global economy might be heading. But in the current slowdown, where small businesses were some of the Continue Reading
Self-Driving Fully Electric Cars Will Be the Ultimate Green Move
Cars aren’t going away any time soon. So the ultimate green move will be combining two emerging technologies: autonomous driving and fully electric cars. Autonomy brings efficiency in driving and battery Continue Reading
Planet posts hottest June on record, tied with last year
June 2020 tied for the planet’s warmest on record, closely matching the anomalously toasty temperatures observed globally during June last year. But one region, in particular, saw heat virtually off Continue Reading
OPEC+ cuts deeper in June on pressure to boost oil market recovery: Platts survey
OPEC slashed its crude output in June to a three-decade low, according to an S&P Global Platts survey, as the bloc and its allies, including Russia, continued their campaign to Continue Reading
Abu Dhabi Raises Much-Needed Cash In Landmark Gas Deal
With a projected budget breakeven oil price of US$69.1 per barrel of Brent this year, according to IMF figures, but accounting for around 96.8 per cent of the UAE’s 98 Continue Reading
Libya’s Oil Production Set To Halve In Next Few Years
Libya’s oil production that has dropped sharply in recent months is set to nearly halve in the coming years thanks to an oil blockade that has been in force since Continue Reading
Libya’s NOC warns of irreparable damage to oil sector from blockade
Libya’s state-owned National Oil Corp. warned July 7 the country’s crude oil output could halve in the coming years unless the ongoing blockade on its eastern terminals is lifted soon. Continue Reading
Latest deadly Mozambique attack raises stakes further for LNG projects
Highlights Militants kill eight contract workers close to LNG developments Home to more than 30 million mt/year of planned LNG capacity Developers could look to private military contractors: analyst London Continue Reading
Libya’s NOC ready to lift force majeure from Es Sider to allow tanker loading
Highlights Delta Ocean tanker en route to load crude from storage NOC demands removal of mercenaries, armed groups from terminal Deal to restart output still to be agreed London — Continue Reading
FUJAIRAH DATA: Stockpiles slump to two-month low, light distillates down 9%
Stockpiles of light, middle and heavy distillates at the oil trading and bunkering hub of Fujairah declined to a two-month low July 6, extending declines from the record set in Continue Reading
Libya Warns Impact of Oil Blockade Could Reverberate for Years
Repeated shutdowns of Libya’s oil facilities amid a civil war could leave the country producing at just half its total capacity in the coming years, the National Oil Corp. said. The OPEC Continue Reading
Tensions rise on the Nile over Africa’s largest dam
Egypt, Ethiopia, and Sudan are engaged in last-ditch talks to resolve a dispute over Addis Ababa’s construction of a giant dam on the river Nile that Cairo fears could lead Continue Reading
Venezuela’s Oil Riches Are Quietly Falling Under Russian Control
For decades during the Cold War, Latin America was a focal point of conflict between the two superpowers, the U.S. and Soviet Union. While the U.S. emerged victorious after the Continue Reading
Debt-Stricken Mexican Oil Major Asks For Payment Deferrals
Mexico’s state oil firm Pemex is asking some of its contractors if they would agree to be paid for their services next year, people familiar with the payment situation at Continue Reading
World’s Biggest Oil Importer Is Running Out Of Storage
When the bottom fell out of international crude oil markets earlier this year, global oil storage was at a premium. In the United States, finding sufficient crude oil storage became Continue Reading
China to impose visa restrictions on U.S. citizens over Tibet
China said on Wednesday it will impose visa restrictions on U.S. citizens who have engaged in what it called egregious behavior over Tibet, in apparent retaliation against U.S restrictions on Continue Reading
China Car Sales Fall in June, Showing Rebound Is on Shaky Ground
Car sales in China retreated in June following a rare increase the previous month, signaling the world’s biggest auto market is facing a bumpy recovery from a two-year slump worsened Continue Reading
US voters more pessimistic on chances of economic rebound
Americans have become more pessimistic about the prospects for a quick pandemic recovery, especially in the states of the US South and west where coronavirus cases have spiked, according to a Continue Reading
Pipeline Setbacks in U.S. Rattle Oil-Sands Producers in Canada
This week’s escalation of American pipeline setbacks is heightening concerns among Canadian oil producers who export almost all of their crude to the U.S. Alex Pourbaix, the chief executive officer of Cenovus Continue Reading
Short-Term Energy Outlook
The July Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because mitigation and reopening efforts related to the 2019 novel coronavirus disease (COVID-19) continue to evolve. Reduced economic activity related to Continue Reading
Huge Debt Payments Come At Worst Time Possible For Canadian Drillers
The collapse in oil prices has significantly deteriorated Canada’s oil companies’ finances and has made repaying their debt more challenging. Over the past decade, Canadian firms have borrowed money to Continue Reading
US 2020 coal production expected to fall 28.9% on year to 57-year low: EIA
The US is estimated to produce 501.3 million st of coal in 2020, the US Energy Information Administration said July 7, lowering its estimate from a month ago by 28.7 Continue Reading