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Big Oil’s Dwindling Reserves Are A Major Problem

Big Oil’s Dwindling Reserves Are A Major Problem

The oil reserves of international…

3 Oil Stocks To Watch This Spring

3 Oil Stocks To Watch This Spring

Oil prices have staged a…

News

Nigeria Set To Start-up 100 Oil & Gas Projects By 2025

Nigeria Set To Start-up 100 Oil & Gas Projects By 2025

Apr 16, 2021 at 14:56 | Charles Kennedy

As many as 100 oil and gas projects are set to start in Nigeria by 2025, accounting for 23 percent of all projects starts in the industry in Africa within…

Texas Freeze Led To 10.6% Higher Natural Gas Withdrawals  

Texas Freeze Led To 10.6% Higher Natural Gas Withdrawals  

Apr 16, 2021 at 14:34 | Charles Kennedy

Due to the winter storms in February, net natural gas withdrawals from storage this heating season exceeded the five-year average by 10.6 percent, the Energy Information Administration (EIA) said…

Chinese Refineries Processed 20% More Crude In March

Chinese Refineries Processed 20% More Crude In March

Apr 16, 2021 at 09:32 | Irina Slav

The throughput of Chinese refineries last month averaged 14.08 million bpd last month, up by 19.7 percent on the year thanks to the recovery in demand for fuels and China’s…

Guyana Estimates Future Oil Production At 1 Million Bpd

Guyana Estimates Future Oil Production At 1 Million Bpd

Apr 15, 2021 at 16:12 | Julianne Geiger

Guyana has estimated its future oil production at 1 million barrels per day by 2027, from seven floating production, storage, and offloading (FPSOs) vessels in country, according to natural…

Climate Activists: Canada’s Support To Oil Sector Hit US$14 Billion In 2020

Climate Activists: Canada’s Support To Oil Sector Hit US$14 Billion In 2020

Apr 15, 2021 at 15:18 | Charles Kennedy

Canada’s federal financial support to the oil and gas industry during the 2020 crisis reached US$14.4 billion (C$18 billion), Canadian organization Environmental Defence said in a report on Thursday,…

Shell To Put Energy Transition Plan To Shareholder Vote

Shell To Put Energy Transition Plan To Shareholder Vote

Apr 15, 2021 at 12:26 | Charles Kennedy

Oil supermajor Shell will put its Energy Transition Strategy to a non-binding shareholder vote at its annual general meeting next month, the first time an energy firm will be…

Businesses Call For Market-Based Approach To Climate Change

Businesses Call For Market-Based Approach To Climate Change

Apr 15, 2021 at 11:19 | Charles Kennedy

Big businesses have called on politicians to set out a market-based, unified strategy for reducing global greenhouse gas emissions at next week’s Leaders Summit on Climate, Reuters reports. “Climate…

Mexican Parliament Passes Law That Restricts Fuel Imports Of Private Companies

Mexican Parliament Passes Law That Restricts Fuel Imports Of Private Companies

Apr 15, 2021 at 10:24 | Irina Slav

The lower house of the Mexican Congress passed changes to an energy law that gives the government power to restrict private oil companies' activity in oil and fuel imports, Reuters…

Executives' Pay Deters Big Oil From Acting On Climate Change

Executives' Pay Deters Big Oil From Acting On Climate Change

Apr 15, 2021 at 08:43 | Irina Slav

The way executives at large oil companies are paid encourages these companies to extract more fossil fuels, a study has suggested, as reported by The Guardian, who said it…

Oil Soars 5% As Bullish News Mounts

Oil Soars 5% As Bullish News Mounts

Apr 14, 2021 at 15:34 | Julianne Geiger

Oil prices made great gains on Wednesday on the back of falling U.S. inventories and stronger demand. At 3:30 p.m. ET, WTI spot prices were up $2.70 per barrel, or…

Brazil Looks To Finance Fuel Subsidies With Oil Auctions

Brazil Looks To Finance Fuel Subsidies With Oil Auctions

Apr 14, 2021 at 15:32 | Tsvetana Paraskova

Brazil is studying the possibility to finance a future fund to subsidize domestic fuel prices with part of the proceeds it expects to receive from an offshore oil auction later…

U.S. Boosts Oil Exports To Canada

U.S. Boosts Oil Exports To Canada

Apr 14, 2021 at 12:18 | Charles Kennedy

Canada’s crude oil imports fell by 20 percent in 2020 due to lower demand in the pandemic, but the United States further cemented its position as top oil supplier to…

The U.S. Power Sector Has Reduced Emissions By 52%

The U.S. Power Sector Has Reduced Emissions By 52%

Apr 14, 2021 at 11:42 | Tsvetana Paraskova

The U.S. power sector has reduced emissions by 52 percent from levels projected 15 years ago, and is now “halfway to zero,” a New Berkeley Lab study showed, as…

The Battle For European Oil Markets Is Heating Up

The Battle For European Oil Markets Is Heating Up

Apr 14, 2021 at 11:21 | Tsvetana Paraskova

Saudi Arabia’s state oil giant Aramco, the world’s largest oil exporter, will meet only part of the nominations for crude from the European and Mediterranean regions for loading in May,…

Another Round Of Power Shortages Grips Texas

Another Round Of Power Shortages Grips Texas

Apr 14, 2021 at 09:42 | Irina Slav

Another bout of power supply shortages hit Texas this week amid power plant maintenance season, prompting the Electric Reliability Council of Texas to call on Texans to conserve energy. However,…

High Battery Metal Prices Could Derail The EV Revolution

High Battery Metal Prices Could Derail The EV Revolution

Apr 14, 2021 at 09:23 | Tsvetana Paraskova

Recent rallies in the prices of key battery metals such as lithium and cobalt could slow down the adoption of electric vehicles (EVs) as higher input costs could mean that…

Russia Begins Black Sea Drilling As Tensions Rise With Ukraine

Russia Begins Black Sea Drilling As Tensions Rise With Ukraine

Apr 14, 2021 at 09:11 | Michael Kern

Russia’s Navy began drills in the Black Sea on Wednesday amid growing tensions with Ukraine and ahead of the expected arrival of two U.S. warships in the area. In…

WTI Prices Unmoved By Small Crude Draw, Gasoline Build

WTI Prices Unmoved By Small Crude Draw, Gasoline Build

Apr 13, 2021 at 15:54 | Julianne Geiger

The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 3.608 million barrels for the week ending April 9. Analysts had predicted a draw of…

U.S. State And Local Officials Call On Biden To Ban New Oil Permits

U.S. State And Local Officials Call On Biden To Ban New Oil Permits

Apr 13, 2021 at 14:58 | Tsvetana Paraskova

As many as 375 local and state elected officials are calling on the Biden Administration to institute a ban on new oil and gas drilling permits on federal lands…

Venture Capital Bets Big On Texas As World Capital Of Clean Energy Tech

Venture Capital Bets Big On Texas As World Capital Of Clean Energy Tech

Apr 13, 2021 at 12:14 | Charles Kennedy

Venture capital fund manager Energy Transition Ventures said on Tuesday it had launched the first venture fund in Texas that will exclusively invest in energy transition technologies. The fund…

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