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Energy

Brent Back Above $69 As Bullish Sentiment Holds

Mar 12, 2021 at 11:44 | Josh Owens

Despite a strong U.S. dollar, there is an unmistakably bullish sentiment in oil markets as demand comes back online and the vaccine rollout continues.

JP Morgan: U.S. Shale Production Set To Climb

Mar 12, 2021 at 10:51 | Tsvetana Paraskova

Current oil prices are high enough to warrant increased U.S. shale activity in the second half of the year if prices hold around these levels, according to JP Morgan. “At…

Can Carbon Capture Make Clean Oil Production A Reality?

Mar 12, 2021 at 09:54 | Felicity Bradstock

As governments and regulators push for a lower carbon future, the race is on to develop carbon capture technology. Even Elon Musk has joined the race, launching a…

Shell Doubled Its Oil Trading Profits In 2020

Mar 12, 2021 at 09:04 | Tsvetana Paraskova

Shell doubled its crude and refined products trading profits in 2020 from 2019, with its trading offsetting some of the negative effects of the collapse in refining margins and fuel…

Argentina’s Shale Patch Is Poised For A Comeback

Mar 11, 2021 at 16:56 | Matthew Smith

After a harsh 2020 and slow post-pandemic recovery Argentina’s hydrocarbon sector has come roaring back to life. A combination of substantially higher oil prices, government subsidies, favorable legislation…

Why Are Investors Turning Their Backs On Fossil Fuel Projects?

Mar 11, 2021 at 15:14 | Tsvetana Paraskova

Over the next five years, oil and gas companies will definitely see less investment as the world’s biggest institutional investors are increasingly looking at the environmental credentials of the companies…

China Splurges On Iranian Oil Despite U.S. Sanctions

Mar 11, 2021 at 14:43 | Tsvetana Paraskova

Despite the U.S. sanctions on Iranian oil exports, some Chinese refiners are buying so much Iranian crude that the ports in the Shandong province, where most independent refiners are based,…

Tech Majors Double Down On Clean Energy Purchases

Mar 11, 2021 at 14:05 | Alex Kimani

In recent years, Big Tech and Big Oil have emerged as some of the biggest buyers of renewable energy, with dozens now covering a substantial proportion of their energy needs…

Big Energy Emerges As Winner From Texas Winter Storm

Mar 11, 2021 at 13:38 | Felicity Bradstock

As oil and gas majors surprisingly stand to profit in the long-term from the Texas storm last month, several regulators emerge largely unscathed.  In the wake…

Iraq Is Losing Market Share In European Oil Markets

Mar 11, 2021 at 12:46 | Viktor Katona

Almost everything in life is a matter of perspective, including developments in the oil and gas industry. For people who would start to study global oil flows today, it would…

OPEC Sees Strong Oil Demand In The Second Half Of 2021

Mar 11, 2021 at 10:55 | Tsvetana Paraskova

Global oil demand is set to benefit from stronger economic recovery and vaccinations in the second half of this year, OPEC said on Thursday, adjusting higher its outlook for the…

Extra Saudi Cut Sends OPEC Oil Production Plunging By 650,000 Bpd

Mar 11, 2021 at 10:26 | Tsvetana Paraskova

OPEC’s crude oil production fell by 650,000 barrels per day (bpd) in February, due to the extra cut from top producer and de facto leader Saudi Arabia, the cartel’s Monthly…

American EV Maker Canoo Joins The Electric Pickup Truck Race

Mar 11, 2021 at 10:06 | Irina Slav

Canoo, a U.S. EV startup, said it plans to launch an all-electric pod-like pickup truck in 2023, adding to a fast-growing choice of electric vehicles available to American buyers. The…

Saudi Minister: OPEC Wants “Fair” Price For Its Oil

Mar 11, 2021 at 09:10 | Irina Slav

The Organisation of Petroleum Exporting Countries is looking for a “fair” price for its crude, Saudi Arabia’s Foreign Minister, Prince Faisal bin Farhan said this week after a meeting with…

Why U.S. Shale Production Remains Stubbornly High

Mar 10, 2021 at 18:05 | David Messler

I have written on shale production in the U.S. a number of times over the past couple of years for OilPrice. My expectation that shale production would fall…

Biden Is Playing A Dangerous Game In The Middle East

Mar 10, 2021 at 17:41 | Cyril Widdershoven

Washington’s new Middle East policies looks like sandcastle. Targeting MBS means putting region at peril The new media frenzy about a possible full-out confrontation between the…

Iran Pushes Development Of Major Oil Region Under 25-Year China Deal

Mar 10, 2021 at 16:50 | Simon Watkins

Whether the Iranian leadership thinks that new U.S. President Joe Biden is set to go easier on the Islamic Republic or on China is unclear as yet but whichever it…

China Dramatically Increases Ethanol Purchases From The U.S.

Mar 10, 2021 at 14:03 | ZeroHedge

Three Reuters sources said Monday that Beijing made massive purchases of US energy products. The sources said, "three ships carrying ethanol were heading to China from the US Gulf Coast." They…

Nigeria’s Lawsuits Against Shell Could Cause Oil Major Exodus

Mar 10, 2021 at 12:41 | Viktor Katona

Judging from recent headlines, Nigeria has unleashed one of the most spectacular legal attacks on one of its key oil and gas investors, to an extent previously unseen in the…

Analysts ‘’Extremely Bullish’’ On China's Electric Vehicle Boom

Mar 10, 2021 at 11:57 | Tsvetana Paraskova

Analysts are growing increasingly bullish on the electric vehicle (EV) market globally and in the world’s largest automotive market, China, amid an increased push from governments to cut…

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