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Energy

The Key Takeaways From Saudi Aramco’s 2020 Report

Mar 22, 2021 at 14:20 | Cyril Widdershoven

Saudi Aramco, the world’s largest oil company, reported a 44% reduction in revenues in 2020. These losses were largely caused by COVID-demand destruction and lower oil prices. Saudi…

Can South Korea Overcome Its Coal Dependence?

Mar 22, 2021 at 14:01 | Viktor Katona

South Korea remains the weakest performer within OECD in terms of renewables’ penetration into the national energy matrix, merely 5% of its electricity generation boils down to green energy. Apart…

Signs Of Strong Oil Demand Recovery Are Emerging

Mar 22, 2021 at 12:47 | Tsvetana Paraskova

Signs have started to emerge in recent weeks that oil demand is recovering and could rebound to stronger levels in the second half of this year. The oil market and…

Is The World’s Most Controversial Pipeline About To Pivot To Hydrogen?

Mar 22, 2021 at 10:54 | Tatiana Serova

Keeping the position of key energy supplier to the Old Continent comes at a price. And it looks like it’s a price Russia is ready to pay it. Moscow…

Natural Gas Pipeline In Venezuela Explodes

Mar 22, 2021 at 10:02 | Charles Kennedy

A section of a natural gas pipeline in Venezuela exploded on Saturday, which the country’s energy minister blamed on an attack, Reuters reports, citing a document…

Aramco’s 2020 Profits Fell By 44%

Mar 22, 2021 at 09:10 | Irina Slav

Saudi Aramco reported a net profit of $49 billion for 2020, down 44 percent on the year but still a positive figure despite the pandemic that plunged some major…

The 3 Nations Vying For Global LNG Dominance

Mar 20, 2021 at 09:40 | Alex Kimani

Last year was an unprecedented year for natural gas and liquefied-natural-gas (LNG) markets. Whereas natural gas demand declined by 3%, LNG demand proved to be…

Texas Freeze Creates Global Plastics Shortage

Mar 20, 2021 at 09:34 | Irina Slav

First, it was a demand slump across pretty much every manufacturing industry because of the pandemic. Then a surge in demand for electronics caused a shortage of microchips,…

Egypt And Schlumberger Look To Digitalize Oil Production

Mar 20, 2021 at 09:27 | Felicity Bradstock

The digitalization of subsurface information to collect data and improve production techniques could enhance exploration and drilling processes worldwide, led by Egypt.  A new project from…

The World’s Biggest Oil Company Is About To Release Its 2020 Results

Mar 20, 2021 at 09:07 | Cyril Widdershoven

Saudi Aramco, the world’s largest oil and gas company, will present its 2020 financial results on Sunday, March 21st. Considering the turbulence and volatility of 2020, Aramco’s results…

Can Venezuela’s Oil Industry Come Back From The Dead?

Mar 20, 2021 at 08:59 | Felicity Bradstock

Smaller players are eager to recommence talks with Venezuela over its crude oil opportunities before the majors start their attack. The eventual easing of sanctions on Venezuelan oil…

Colombia’s Coal Mining Ambitions Could Backfire

Mar 20, 2021 at 08:56 | Matthew Smith

As many developed and even emerging nations aggressively pursue renewable energy targets with a focus on winding down the extraction of fossil fuels, strife-torn Colombia reaffirms that fossil…

Australia Is Jumping On The Green Hydrogen Bandwagon

Mar 20, 2021 at 08:52 | Haley Zaremba

It’s not news that COVID-19 wreaked havoc on energy markets across the world throughout 2020. But just to recap, it was a real doozy; total energy demand sank…

Hess Sells Off Denmark Oil Assets

Mar 20, 2021 at 08:48 | Felicity Bradstock

Danish oil is attracting attention as INEOS agrees to purchase Hess Corp’s stake in two oil fields within EU producer Denmark.  INEOS has agreed the purchase…

The Oil Price Rally Is Officially Over

Mar 19, 2021 at 13:23 | Tom Kool

The recent aggressive oil price rally appears to have officially come to an end, with WTI having lost more than $7 in one week. Prices began to bounce back on…

Oil Rig Count Jumps As WTI Moves Back Above $60

Mar 19, 2021 at 12:18 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 9 this week. The total number of active oil and gas…

U.S. Warns China Against Buying Iranian Crude Oil

Mar 19, 2021 at 11:12 | Irina Slav

The United States has warned China that it will not turn a blind eye to rising Iranian oil exports to Chinese ports, the Financial Times reported, citing a senior…

Oil Extends Losses After Massive Sell-Off

Mar 19, 2021 at 09:39 | Tsvetana Paraskova

Following the massive sell-off on Thursday, oil prices dipped again early on Friday as bearish sentiment continued its hold on the market. As of 9:47 a.m. EDT on Friday,…

Saudi Arabia Boosted Crude Oil Exports In January

Mar 19, 2021 at 09:02 | Tsvetana Paraskova

The world’s largest oil exporter, Saudi Arabia, increased its crude oil exports to 6.582 million barrels per day (bpd) in January 2021, up from 6.495 million bpd in December 2020,…

Oil Traders Made A Killing Last Year

Mar 18, 2021 at 18:06 | Alex Kimani

Retail investors with long positions in crude oil markets had to endure one of the most volatile years on record in 2020 thanks to the Saudi-Russia oil price war, oil…

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