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Energy

Canada’s Oil Crisis Continues As Majors Report More Losses

Oct 29, 2020 at 12:42 | Michael Kern

Canada’s largest oil companies continue to post quarterly losses this year as low crude oil prices and low refining margins hit earnings.   On Wednesday Suncor Energy reported its…

OPEC Members Rebel Over Production Cut Extension

Oct 29, 2020 at 12:00 | Tsvetana Paraskova

While the oil market speculates on whether or not OPEC+ will ease its production cuts in January amid sluggish demand, rumors emerged on Thursday that the three biggest OPEC producers…

Two-Thirds Of Gulf Oil Production Remains Shut In ahead Of Hurricane Zeta

Oct 29, 2020 at 11:10 | Irina Slav

As much as 66.6 percent of crude oil production in the Gulf of Mexico remained shut in on Wednesday ahead of Hurricane Zeta, with 228 platforms evacuated according to the…

Oil Plunges To $35 As Lockdowns Return

Oct 29, 2020 at 09:50 | Tsvetana Paraskova

Oil prices extended their 5-percent slump from Wednesday into Thursday morning, plunging by another 5 percent, with WTI Crude sliding to $35 a barrel, as major economies in Europe renewed…

Is Brazil’s Oil Boom Immune To COVID?

Oct 28, 2020 at 17:55 | Matthew Smith

An ongoing global supply glut and the COVID-19 pandemic have had a profound impact on the price of crude oil. Despite recovering after the March 2020 oil price…

The Green Hydrogen Problem That No One Is Talking About

Oct 28, 2020 at 16:49 | Irina Slav

Gigawatt upon gigawatt of green hydrogen capacity is being planned across Europe, Asia, and Australia. According to proponents of the technology, green hydrogen - the kind produced through…

The U.S. Army Doubles Down On Battery Technology

Oct 28, 2020 at 16:05 | Tsvetana Paraskova

The U.S. Army is expanding research efforts to solve the current challenges to battery technologies and drive advancements in battery science and energy storage that will become increasingly…

U.S. Oil Production Won’t Reach 13 Million Bpd Any Time Soon

Oct 28, 2020 at 14:23 | Julianne Geiger

If you’re in the camp that is wishfully thinking U.S. oil production will rebound anytime soon north of 13 million barrels per day, U.S. Energy Secretary Dan Brouillette is ready…

Philippines Is Getting Ready To Drill For Oil And Gas

Oct 28, 2020 at 13:49 | Viktor Katona

At a time when the second wave of coronavirus is decimating the world economy, when the Caucasus is smouldering from the consequences of the Karabakh issue and all…

The Car Giants That Knew About Climate Change 50 Years Ago

Oct 28, 2020 at 12:21 | Irina Slav

General Motors and Ford have known about the effect burning fossil fuels has on climate for 50 years, a report from E&E News has revealed. And not just…

Saudi Aramco: Oil Demand Too Weak To Ease OPEC+ Output Cuts

Oct 28, 2020 at 12:01 | Tsvetana Paraskova

Global demand currently is not supportive for OPEC+ easing the oil production cuts on January 2021, Ibrahim Al-Buainain, president and chief executive of Aramco Trading, told Gulf Intelligence on…

Trump Makes Final Push To Defend Fracking

Oct 28, 2020 at 11:11 | Charles Kennedy

President Donald Trump is reportedly preparing to sign an executive order that would mandate the analysis of fracking and its effects on the economy in one final campaign push to…

Crude Inventory Build Forces Oil Prices Lower

Oct 28, 2020 at 10:06 | Irina Slav

Crude oil price fell further after the Energy Information Administration reported an inventory increase of 4.3 million barrels for the week to October 23. This compares with a

Why Libya’s Surge In Oil Exports Won’t Last

Oct 27, 2020 at 17:51 | Cyril Widdershoven

The Libyan ceasefire agreement, which is being painted as a permanent one, could soon face increased opposition if third party interference is not dealt with. The UN-brokered (UNSMIL)…

The Next Oil & Gas Battleground For Supermajors

Oct 27, 2020 at 17:43 | Tsvetana Paraskova

Chevron’s acquisition of Noble Energy launched an ongoing M&A frenzy in the U.S. shale patch as companies look to consolidate to cut costs while adding immediately cash-flow-positive resources…

Venezuela’s Oil Industry Could Take Decades To Recover

Oct 27, 2020 at 16:37 | Matthew Smith

There are considerable concerns that the vast oil reserves of Venezuela, totaling a billion barrels, could become a stranded asset. It was Venezuela’s burgeoning post-World War One oil…

Oman Faces Tough Choices As Budget Deficit Deepens

Oct 27, 2020 at 15:30 | Simon Watkins

Oman is looking at ‘all financing options’ following the lacklustre sale last week of a total US$2 billion bond offering, according to legal sources working with the Sultanate…

The U.S. Looks To Delay The World’s Most Controversial Pipeline Once Again

Oct 27, 2020 at 13:53 | Viktor Katona

The prolonged Nord Stream-2 saga has managed the unmanageable – industry watchers are becoming numb to the ever-changing prospects of the project and are becoming less and less…

Oil Demand In Doubt As COVID Cases Climb

Oct 27, 2020 at 13:12 | Josh Owens

The price of WTI is once again below $40 as new COVID cases drive demand lower and Libya threatens to bring a new wave of supply online.

Will Colombia’s Struggling Oil Industry Ever Recover?

Oct 27, 2020 at 13:04 | Matthew Smith

After a positive start to 2020 there is little evidence of a sustained recovery for the Andean country’s economically crucial oil industry. Significantly weaker oil prices, the COVID-19…

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