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News

Rig Count Rise Fails To Slow The Oil Price Rally

Rig Count Rise Fails To Slow The Oil Price Rally

Nov 25, 2020 at 13:12 | Julianne Geiger

Baker Hughes reported on Wednesday that the number of oil rigs in the United States rose by 10 to 241, resuming its climb after a one-week decline last…

Israel Prepares For A Potential U.S. Military Strike On Iran

Israel Prepares For A Potential U.S. Military Strike On Iran

Nov 25, 2020 at 12:37 | ZeroHedge

With just weeks to go until President-Elect Joe Biden is inaugurated on January 20, Axios reports that Israel is preparing for the possibility…

Oil Tanker Hit By Mine Explosion Near Saudi Arabia

Oil Tanker Hit By Mine Explosion Near Saudi Arabia

Nov 25, 2020 at 11:38 | Tsvetana Paraskova

An oil tanker was damaged in the Red Sea near Saudi Arabia after a mine exploded on Wednesday, the Associated Press reported, citing…

The OPEC Producer Looking To Sell A Stake In Its Oil Company

The OPEC Producer Looking To Sell A Stake In Its Oil Company

Nov 25, 2020 at 11:21 | Tsvetana Paraskova

OPEC producer Angola plans to raise much-needed cash via selling a stake in its state oil firm Sonangol by early 2022 as the crash in oil prices—and the…

Saudi Arabia Urges The UN To Intervene As Houthi Attacks Persist

Saudi Arabia Urges The UN To Intervene As Houthi Attacks Persist

Nov 25, 2020 at 09:35 | Irina Slav

The United Nations Security Council should “stop the threat” of more Houthi attacks on Saudi energy infrastructure, the Saudi ambassador to the UN said in a letter to the…

Russia Extends Its Lead As China’s Top Oil Supplier

Russia Extends Its Lead As China’s Top Oil Supplier

Nov 25, 2020 at 09:17 | Tsvetana Paraskova

Russia was ahead of Saudi Arabia in the race to be China’s top crude oil supplier in October, according to official Chinese data reported by Reuters. Yet, Chinese imports…

Oil Price Rally Stalls On Large Crude Build

Oil Price Rally Stalls On Large Crude Build

Nov 24, 2020 at 15:53 | Julianne Geiger

The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 3.8 million barrels for the week ending November 20. Analysts had…

Colorado Approves Stricter Rules For Oil & Gas Drilling

Colorado Approves Stricter Rules For Oil & Gas Drilling

Nov 24, 2020 at 13:20 | Michael Kern

The Colorado Oil and Gas Conservation Commission (COGCC) approved this week stricter rules for oil and gas drilling, extending the setbacks for oil…

Bitcoin Soars Above $19,000 As Gold Sinks

Bitcoin Soars Above $19,000 As Gold Sinks

Nov 24, 2020 at 12:37 | Safehaven.com

Bitcoin bulls have had little to cheer about since the mega-rally of three years ago that saw the bitcoin price rally from under $1,000 to nearly $20,000 in the space…

European Utility Giant To Invest $190 Billion In Renewable Infrastructure

European Utility Giant To Invest $190 Billion In Renewable Infrastructure

Nov 24, 2020 at 12:14 | Tsvetana Paraskova

Italy’s Enel plans to invest as much as US$190 billion (160 billion euro) by 2030 in boosting renewable power generation, decarbonization, and grid infrastructure as part of a…

A Rare Piece Of Positive Oil Pipeline News For Canada

A Rare Piece Of Positive Oil Pipeline News For Canada

Nov 24, 2020 at 12:10 | Josh Owens

Enbridge is moving closer to potentially beginning construction in the United States on the replacement of Line 3. This replacement is designed to carry increased volumes of Canadian…

China Kickstarts A New Era In The Space Race

China Kickstarts A New Era In The Space Race

Nov 24, 2020 at 10:42 | ZeroHedge

In what could mark the beginning of another era of the "space race", China has officially launched an unmanned spacecraft to the moon…

Goldman Speculates On The Future Of OPEC

Goldman Speculates On The Future Of OPEC

Nov 24, 2020 at 10:38 | Tsvetana Paraskova

A week before OPEC is set to decide whether to roll over the current cuts into 2021, reports of renewed tensions within the cartel once again call into…

Russia Threatens U.S. Destroyer In Contested Waters

Russia Threatens U.S. Destroyer In Contested Waters

Nov 24, 2020 at 09:49 | RFE/RL staff

Russia's Defense Ministry says a U.S. Navy destroyer has left Russian waters in the Far East after being warned it might be rammed. The ministry said…

The U.S. Remains The World’s Most Attractive Renewables Market

The U.S. Remains The World’s Most Attractive Renewables Market

Nov 24, 2020 at 09:33 | Tsvetana Paraskova

The United States kept the top spot ahead of China as the world’s most attractive country for renewables investment and deployment in EY’s…

Iraq Wants A 5 Year Prepayment For Oil

Iraq Wants A 5 Year Prepayment For Oil

Nov 24, 2020 at 09:12 | Irina Slav

Iraq is working on its first-ever deal to sell oil and get the payment in advance as the country struggles to shore up its finances. Reuters cites a letter…

OPEC To Decide The Fate Of Oil Markets In 2021

OPEC To Decide The Fate Of Oil Markets In 2021

Nov 23, 2020 at 16:42 | Julianne Geiger

OPEC officials will meet this week on Wednesday, Thursday, and Friday to iron out details ahead of the meeting on November 30 and December 1 that will determine…

How Africa Became A Hotspot For Renewable Energy

How Africa Became A Hotspot For Renewable Energy

Nov 23, 2020 at 16:15 | Rystad Energy

Africa’s installed capacity of renewable energy, which stood at 12.6 gigawatt (GW) in 2019, is set for consecutive years of growth, a Rystad Energy analysis shows. The continent’s…

How Stimulus Packages Could Accelerate Electric Vehicle Adoption

How Stimulus Packages Could Accelerate Electric Vehicle Adoption

Nov 23, 2020 at 12:27 | Tsvetana Paraskova

Stimulus packages around the world could help a rise in electric vehicles (EVs) sales and speed up progress in decarbonization in the transportation sector, the International Energy Agency…

The COVID Vaccine Could Kill The Gold Rally

The COVID Vaccine Could Kill The Gold Rally

Nov 23, 2020 at 12:19 | City A.M

Gold prices were on track to fall for a second consecutive week as investors chanced their arms on equities again on news of not one but two effective…

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