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Oil Prices Drop On OPEC+ Uncertainty

Oil Prices Drop On OPEC+ Uncertainty

Oil prices fell on Tuesday…

U.S. Shale Production Continues Its Decline

U.S. Shale Production Continues Its Decline

U.S. shale production is set…

News

Construction Of Line 3 Oil Pipeline Begins In Minnesota

Construction Of Line 3 Oil Pipeline Begins In Minnesota

Dec 02, 2020 at 12:20 | Charles Kennedy

Enbridge is starting construction on the Line 3 oil pipeline replacement in Minnesota after receiving all necessary approvals and permits, the pipeline operator said this week, while indigenous groups…

Libya Moves Closer To Resolving Quarrel Over Oil Revenues

Libya Moves Closer To Resolving Quarrel Over Oil Revenues

Dec 02, 2020 at 10:32 | Charles Kennedy

Libya’s UN-recognized government said on Wednesday that an urgent meeting of all stakeholders involved had agreed to work toward unfreezing Libya’s oil revenues, an essential part of the OPEC…

Mexico Leaves OPEC Behind, Pockets Billions From Oil Hedge

Mexico Leaves OPEC Behind, Pockets Billions From Oil Hedge

Dec 02, 2020 at 09:30 | Irina Slav

Mexico has made $2.5 billion from its 2020 oil hedge—the biggest hedge in the oil world. Bloomberg reported the news citing unnamed sources familiar with the hedge, noting the…

Oil Price Rally Reverses As Inventories Balloon

Oil Price Rally Reverses As Inventories Balloon

Dec 01, 2020 at 15:39 | Julianne Geiger

The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 4.146 million barrels for the week ending November 27. Analysts had predicted an inventory draw…

Turkey Halts Mediterranean Oil, Gas Survey On EU Sanctions Threat

Turkey Halts Mediterranean Oil, Gas Survey On EU Sanctions Threat

Dec 01, 2020 at 14:52 | Tsvetana Paraskova

Turkey has halted survey for oil and gas in the Mediterranean and had its survey vessel back to a Turkish port, days before European Union leaders are set to discuss…

U.S. Briefly Became Net Petroleum Importer This Year

U.S. Briefly Became Net Petroleum Importer This Year

Dec 01, 2020 at 13:36 | Tsvetana Paraskova

The United States briefly returned to being a net importer of crude oil and petroleum products in May and June this year, as U.S. crude oil and refinery output slumped…

New Study Links Texas Oil Refineries To Elevated Cancer Risk

New Study Links Texas Oil Refineries To Elevated Cancer Risk

Dec 01, 2020 at 12:01 | Tsvetana Paraskova

People who live close to oil refineries are at increased risk of cancer, a new study from the University of Texas Medical Branch (UTMB) has found. Proximity to an…

Tesla To Join S&P 500 With Full Market Cap On December 21

Tesla To Join S&P 500 With Full Market Cap On December 21

Dec 01, 2020 at 10:19 | Charles Kennedy

Tesla (NASDAQ: TSLA) will be added to the S&P 500 index all at once at its full market capitalization before trade opens on December 21, S&P Dow Jones Indices…

U.S. Senate Approves Trump’s FERC Nominees

U.S. Senate Approves Trump’s FERC Nominees

Dec 01, 2020 at 09:30 | Irina Slav

The Senate has approved two candidates for the Federal Energy Regulatory Commission nominated by President Donald Trump, which would mean FERC will be Republican-dominated until June, according to Reuters.…

OPEC+ Forced To Reschedule Meeting As Disagreements Persist

OPEC+ Forced To Reschedule Meeting As Disagreements Persist

Nov 30, 2020 at 15:02 | Julianne Geiger

The OPEC meeting ended on Monday without an agreement among its members regarding the production cuts next year. Instead, the meeting ended with three of its heavyweights—Russia, Saudi Arabia, and…

The World’s First Trial Of Green Hydrogen Heating

The World’s First Trial Of Green Hydrogen Heating

Nov 30, 2020 at 13:13 | Josh Owens

The UK and Scottish authorities are funding the world’s first trial of a 100 percent green hydrogen generation, storage, and distribution network to heat 300 homes in Scotland…

Britain Bets Big On Battery Storage

Britain Bets Big On Battery Storage

Nov 30, 2020 at 13:05 | Michael Kern

The UK Department for Business, Energy and Industrial Strategy (BEIS) has approved the construction of the biggest battery storage project in the UK, and one of the largest…

Gold Set For Its Worst Month In 4 Years

Gold Set For Its Worst Month In 4 Years

Nov 30, 2020 at 12:00 | MINING.com

Gold prices extended their decline below $1,800/oz on Monday as growing optimism for an…

Goldman Sachs Sees Oil Hit $65 In 2021

Goldman Sachs Sees Oil Hit $65 In 2021

Nov 30, 2020 at 11:08 | Irina Slav

Goldman Sachs expects Brent crude to reach $65 a barrel next year following the release of an effective Covid-19 vaccine and a limited…

Saudi Arabia Expected To Increase Oil Prices To Asia

Saudi Arabia Expected To Increase Oil Prices To Asia

Nov 30, 2020 at 10:57 | Tsvetana Paraskova

Refiners in Asia expect the world’s largest oil exporter, Saudi Arabia, to raise the official selling prices for its crude oil going to Asia in January due to…

U.S. To Blacklist Chinese Oil Giant Due To Military Ties

U.S. To Blacklist Chinese Oil Giant Due To Military Ties

Nov 30, 2020 at 10:23 | Charles Kennedy

The United States government is set to add Chinese state oil company CNOOC to a blacklist of companies with ties to the Chinese military, Reuters has reported, citing sources…

Islamic State Claims Attack On Iraqi Refinery

Islamic State Claims Attack On Iraqi Refinery

Nov 30, 2020 at 10:02 | Irina Slav

Islamic State militants launched a rocket strike against an Iraqi refinery causing its shut-down, Reuters has reported, citing officials from the facility. In a statement on the terrorist group’s…

Saudi Arabia Bombs Houthi Rebels In Response To Aramco Attack

Saudi Arabia Bombs Houthi Rebels In Response To Aramco Attack

Nov 30, 2020 at 09:19 | Tsvetana Paraskova

The coalition led by Saudi Arabia bombed camps of the Houthi rebels in Yemen on Friday after Houthis hit a petroleum distribution center of oil giant Saudi Aramco…

Volkswagen Readies Compact EV For 2023

Volkswagen Readies Compact EV For 2023

Nov 27, 2020 at 16:50 | Michael Kern

Volkswagen will look to reduce its portfolio of internal combustion engine vehicles, while speeding up the development of a compact electric vehicle that could cost less than $36,000…

OPEC’s Impromptu Weekend Meeting Delayed

OPEC’s Impromptu Weekend Meeting Delayed

Nov 27, 2020 at 16:47 | Julianne Geiger

OPEC+’s meeting that was put on the books at the last minute for Saturday is now being delayed to Sunday, according to anonymous Reuters sourc

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