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Could We Power Flights With Human Waste?

Could We Power Flights With Human Waste?

Aviation companies are exploring the…

News

OPEC+ Undershoots Oil Production Target Again

OPEC+ Undershoots Oil Production Target Again

Dec 13, 2021 at 08:58 | Tsvetana Paraskova

The OPEC+ group delivered the 400,000-bpd production increase in November, but it was still more than half a million barrels per day short of its overall oil production quota last…

UK’s Cambo Oilfield Project Put On Hold After Shell’s Withdrawal

UK’s Cambo Oilfield Project Put On Hold After Shell’s Withdrawal

Dec 10, 2021 at 13:59 | Charles Kennedy

The Cambo oilfield project in the UK North Sea, which has caused controversy in recent months and saw Shell exiting the plan for development last week, is now paused, the…

Russia Says OPEC+ Deal Brings Investment Back To Oil Industry

Russia Says OPEC+ Deal Brings Investment Back To Oil Industry

Dec 10, 2021 at 13:18 | Tsvetana Paraskova

The OPEC+ interventions on the market in recent years have helped the oil industry to see the beginning of the return of confidence and investments, Russian Deputy Prime Minister Alexander…

Meme-Coins Are Exploding As Bitcoin Stumbles

Meme-Coins Are Exploding As Bitcoin Stumbles

Dec 10, 2021 at 09:45 | Michael Kern

Seasoned cryptocurrency traders are, perhaps, no stranger to the excessive volatility that comes with the territory. But events in cryptoland sometimes seem to push their limits. For instance,…

Travel Stocks Take A Hit As UK Enacts New Measures To Curb Omicron

Travel Stocks Take A Hit As UK Enacts New Measures To Curb Omicron

Dec 10, 2021 at 08:55 | City A.M

Travel stocks led London markets lower yesterday as investors took flight from the sector after the UK government launched tougher Covid-19 restrictions this week. The capital’s…

Saudi Arabia Will Supply Full Volumes To Asia

Saudi Arabia Will Supply Full Volumes To Asia

Dec 10, 2021 at 08:47 | Charles Kennedy

Saudi Arabia will supply full contracted oil volumes to most of its buyers in Asia, Reuters has reported, citing unnamed sources familiar with the Kingdom’s moves. This will be the…

Pemex Plans Cut In Oil Exports In 2022

Pemex Plans Cut In Oil Exports In 2022

Dec 10, 2021 at 08:17 | Irina Slav

Mexico’s Pemex plans to reduce the amount of oil it exports next year and use it domestically instead, Bloomberg has reported, as the country seeks to reduce its dependence…

Oil Prices Slide Ahead Of Key Inflation Report

Oil Prices Slide Ahead Of Key Inflation Report

Dec 09, 2021 at 15:55 | Julianne Geiger

Oil prices slid more than 2% on Thursday ahead of higher risk events that are expected to headline on Friday. Brent had rallied above $75…

Another Iranian Pipeline Explosion As Aging Infrastructure Fails

Another Iranian Pipeline Explosion As Aging Infrastructure Fails

Dec 09, 2021 at 12:23 | Julianne Geiger

Reports are emerging of a pipeline explosion at Iran’s Parsian refinery in the country’s southwest, where an excavator reportedly hit a 10-inch gas condensate pipeline today.  While the story is…

Russia’s Gazprom Neft Expects Record Oil, Gas Production In 2021

Russia’s Gazprom Neft Expects Record Oil, Gas Production In 2021

Dec 09, 2021 at 10:11 | Tsvetana Paraskova

Gazprom Neft, the oil arm of Russian gas giant Gazprom, expects a record high oil and gas production this year, as demand recovers and OPEC+ eases the production cuts, the…

Biden Sets 2050 Net-Zero Target For The Federal Government

Biden Sets 2050 Net-Zero Target For The Federal Government

Dec 09, 2021 at 09:20 | Irina Slav

President Biden has signed an executive order seeking to make the federal government—and the U.S. economy as a whole—climate neutral by 2050 by supporting low-carbon electricity and EVs, as well…

Are Worker Bonuses Coming Back To The U.S. Oil Industry?

Are Worker Bonuses Coming Back To The U.S. Oil Industry?

Dec 08, 2021 at 17:34 | Julianne Geiger

The price of WTI has recovered 60% to $72.60 from just $45.52 a year ago. And such gains in oil prices could spark a resurgence in oil…

Record EU Carbon Prices Could Rally Further

Record EU Carbon Prices Could Rally Further

Dec 08, 2021 at 15:55 | Tsvetana Paraskova

EU climate rules and the use of more coal to replace natural gas at sky-high prices in power generation have resulted in a massive rally in the EU carbon price,…

Iceland Cuts Electricity To Crypto Miners Amid Power Crunch

Iceland Cuts Electricity To Crypto Miners Amid Power Crunch

Dec 08, 2021 at 14:39 | Charles Kennedy

Due to low hydropower generation, Iceland has seen a shortage of electricity supply in recent days to the point where its biggest utility curtailed power to some industrial activities, data…

Supply Bottlenecks Continue To Impact U.S. Car Sales

Supply Bottlenecks Continue To Impact U.S. Car Sales

Dec 08, 2021 at 14:30 | Metal Miner

Ford Motor Co. reported November U.S. sales increased by 5.9% year over year to 158,793 vehicles. Total truck sales increased by 4.6%. Meanwhile,…

Early Winter Disrupts Russia’s Black Sea Oil Exports

Early Winter Disrupts Russia’s Black Sea Oil Exports

Dec 08, 2021 at 13:09 | Charles Kennedy

Bad weather at Russia’s Black Sea port of Novorossiysk is delaying loadings and creating traffic congestion on the straits of the Black Sea leading to the Mediterranean, trading sources told…

Biden Administration Proposes Lower Biofuel Mandates For 2020

Biden Administration Proposes Lower Biofuel Mandates For 2020

Dec 08, 2021 at 10:33 | Charles Kennedy

The Environmental Protection Agency has proposed reducing the amount of biofuels that oil refiners are mandated to add to petroleum fuels in a bid to provide some breathing space to…

EIA Slashes 2021, 2022 Oil Demand Forecasts

EIA Slashes 2021, 2022 Oil Demand Forecasts

Dec 08, 2021 at 09:27 | Tsvetana Paraskova

Global oil demand could see downside risks due to the Omicron variant, the U.S. Energy Information Administration (EIA) said on Tuesday, slashing its world oil consumption forecasts for both 2021…

Surprise Crude Draw Sends Oil Prices Higher

Surprise Crude Draw Sends Oil Prices Higher

Dec 07, 2021 at 15:56 | Julianne Geiger

This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 3.089 million barrels. U.S. crude inventories have shed some 60 million barrels since the…

Houthis Claim Drone Attacks On Saudi Oil Facilities

Houthis Claim Drone Attacks On Saudi Oil Facilities

Dec 07, 2021 at 13:52 | Charles Kennedy

The Iran-aligned Houthi movement in Yemen targeted on Tuesday oil infrastructure and military compounds in Saudi Arabia with drones and ballistic missiles, the movement said today on its broadcast…

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