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Energy

An Oil Boom Hidden Within One Of America’s Biggest Cities

Jan 25, 2021 at 15:04 | Felicity Bradstock

When you think of giant oil fields you probably conjure up an image of vast areas of land or sea suitable for digging. However, Los Angeles demonstrates that…

U.S. Shale Industry Accelerates As Oil Prices Rise

Jan 25, 2021 at 13:25 | Rystad Energy

The number of drilled but uncompleted wells (DUCs) that accumulated at the height of the pandemic has already subsided to pre-Covid-19 levels in the US, a Rystad Energy analysis shows.…

Why Gazprom Cut Gas Supply To Europe Amid Rising Prices

Jan 25, 2021 at 12:50 | Tatiana Serova

Soaring natural gas prices in European markets could be seen as a boon for Russian giant Gazprom to increase its gas exports towards the Old Continent. But instead, somewhat surprising,…

All Eyes Are On This Crucial Pipeline After KeystoneXL Got Axed

Jan 25, 2021 at 11:56 | Tsvetana Paraskova

The Trans Mountain expansion project has just become the most important oil pipeline project in Canada after U.S. President Joe Biden stopped the U.S.-Canada cross-border link Keystone XL. The expansion…

Barclays: WTI To Average $52 In 2021

Jan 25, 2021 at 11:02 | Tsvetana Paraskova

Barclays expects the U.S. oil benchmark, WTI Crude, to average $52 per barrel in 2021, raising its outlook by $2 a barrel due to a weaker U.S. dollar and…

Oil Major BP Significantly Downsizes Oil Exploration Division

Jan 25, 2021 at 10:01 | Tsvetana Paraskova

As part of its ambition to reduce oil and gas production and raise investments in clean energy, BP has been cutting staffing levels at its oil and gas exploration division…

Iraq Slashes Oil Output To Compensate For Overproduction

Jan 25, 2021 at 09:05 | Irina Slav

Iraq will pump less oil this month and next to make up for excess production last year, the deputy chief of SOMO, the oil marketing company of Baghdad. For both…

Oil Majors Poised To Make Biggest Geothermal Investments In 30 Years

Jan 22, 2021 at 17:26 | Alex Kimani

The green energy revolution is well and truly underway. Renewables have proven to be highly resilient, emerging as the only energy sector to record any kind of growth…

Egypt Looks To Resume LNG Exports As Prices Rise

Jan 22, 2021 at 16:58 | Viktor Katona

Egypt’s 2015 discovery of the supergiant Zohr gas field was supposed to propel the North African country into the Eastern Mediterranean limelight. Within less than 3 years Egypt…

Goldman Sachs: Biden’s Federal Land Drilling Ban Is Bullish For Oil

Jan 22, 2021 at 16:58 | ZeroHedge

Oil stocks tumbled following yesterday's one-two punch of Biden energy news, when first we learned that the Interior Department enacted a 60-day moratorium on issuing oil and gas…

How Hydrogen Could Power The Ultimate Battery

Jan 22, 2021 at 16:54 | Irina Slav

Hydrogen as a fuel of the future is the talk of the town in energy markets. Pros and cons of green versus blue hydrogen, capacity building plans, new…

The One Big Problem With A Central Asian Energy Corridor

Jan 22, 2021 at 16:52 | Alan Mammoser

In Moscow last week, President Vladimir Putin hosted the prime minister of Armenia and the president of Azerbaijan. It was the first meeting of the three leaders since…

Will Venezuela Go To War Over Oil?

Jan 22, 2021 at 16:06 | Viktor Katona

January 2021 is still far from over yet the pages of Oilprice already boast 6 articles about Guyana being the hottest drilling spot in the world. This is…

IHS Predicts A Record Year For Renewables In 2021

Jan 22, 2021 at 16:02 | Tsvetana Paraskova

Global renewable capacity additions defied COVID-19 to set new records in 2020, while global renewable energy output in the electricity sector jumped, unlike other energy sources. 

How Climate Change Increased The Need For Fossil Fuels In 2021

Jan 22, 2021 at 15:58 | Rystad Energy

As the climate is changing, the Arctic is warming four times faster than global averages, causing the circumpolar Jetstream to weaken and move southwards. Consequently, freezing cold air…

Will Biden Lift Sanctions On Venezuela?

Jan 22, 2021 at 15:55 | Haley Zaremba

The country with the largest proven oil reserves in the world, clocking in at a whopping 299,953,000,000 barrels of proven oil, is currently suffering a fuel shortage so…

Why Decarbonization Could Make Strategic Sense For Oil Majors

Jan 22, 2021 at 15:52 | Leonard Hyman & William Tilles

Can oil companies profitably transform themselves into low carbon, green enterprises? That is a big question for investors. We have already noted that green investments because of their…

Energy Shares Plunge As Oil Rally Stalls

Jan 22, 2021 at 14:09 | Tom Kool

Energy shares were hit hard as the oil rally came to a halt, with new lockdowns reigniting oil demand fearsWith 2021 shaping up…

Oil Tumbles As Chinese COVID Cases Rise

Jan 22, 2021 at 12:30 | Tsvetana Paraskova

Oil prices tumbled more than 2.5 percent early on Friday, dragged down by concerns that oil demand in the world’s top oil importer, China, could falter amid rising COVID-19 cases…

U.S. Rig Count Increases As Oil Rally Takes A Breather

Jan 22, 2021 at 12:13 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 5 to 378. The oil and gas rig count has risen…

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