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Trafigura Dumps Over 400,000 Tons of Aluminum into LME Warehouses

Trafigura Dumps Over 400,000 Tons of Aluminum into LME Warehouses

Aluminum prices retreated after Trafigura's…

Republicans Pressure Biden to Deliver Weapons to Israel

Republicans Pressure Biden to Deliver Weapons to Israel

The U.S. House of Representatives…

Chevy Malibu Discontinued as Company Transitions to EVs

Chevy Malibu Discontinued as Company Transitions to EVs

Chevy's long-running Malibu sedan is…

News

U.S. Shale: Biden's Drilling Ban Actually Undermines Emission Targets

U.S. Shale: Biden's Drilling Ban Actually Undermines Emission Targets

Feb 01, 2021 at 17:29 | Charles Kennedy

The U.S. oil industry has a message to President Joe Biden's recent climate executive orders involving the oil and gas sector—restricting America's oil production would increase its reliance on foreign…

China Starts Emissions Trading As It Aims For Net Zero By 2060

China Starts Emissions Trading As It Aims For Net Zero By 2060

Feb 01, 2021 at 15:58 | Charles Kennedy

China, the world's largest polluter, launched on Monday an emissions trading scheme as part of its efforts to become a carbon-neutral economy by 2060. The Chinese authorities introduced as…

Iraq Raises Crude Oil Exports In January

Iraq Raises Crude Oil Exports In January

Feb 01, 2021 at 12:36 | Tsvetana Paraskova

Iraq’s oil exports increased slightly in January 2021 compared to December 2020, data from the country’s oil ministry showed on Monday, suggesting that Iraq is again looking to maximize oil…

BP Sells Stake In Oman Gas Field As Part Of $25B Divestment Plan

BP Sells Stake In Oman Gas Field As Part Of $25B Divestment Plan

Feb 01, 2021 at 10:24 | Tsvetana Paraskova

BP is selling 20 percent of its 60-percent stake in a gas block in Oman to Thailand’s national oil company for US$2.6 billion as part of its plan to receive…

Russia Says It May Go To Court Over Nord Stream 2 Sanctions

Russia Says It May Go To Court Over Nord Stream 2 Sanctions

Feb 01, 2021 at 09:30 | Tsvetana Paraskova

Russia could turn to a national or contract jurisdiction court to protect its interests against interference against the completion of the Russia-led Nord Stream 2 gas pipeline project, Dmitry Medvedev,…

OPEC+ Boasts 99% Compliance With Cuts

OPEC+ Boasts 99% Compliance With Cuts

Feb 01, 2021 at 08:01 | Irina Slav

OPEC+ members complied almost completely with their production cut quotas last month, an unnamed source from the extended cartel told Bloomberg. At 99 percent, according to the source, the…

EIA: Global Oil Consumption Crashed By 9% In 2020

EIA: Global Oil Consumption Crashed By 9% In 2020

Jan 29, 2021 at 14:52 | Tsvetana Paraskova

Due to the coronavirus restrictions and lockdowns, global consumption of petroleum and other liquid fuels crashed by 9 percent to 92.2 million barrels per day (bpd) in 2020, the U.S.…

Dutch Court Holds Shell Liable For Oil Spill In Nigeria  

Dutch Court Holds Shell Liable For Oil Spill In Nigeria  

Jan 29, 2021 at 12:41 | Charles Kennedy

The Hague Court of Appeal ordered Shell on Friday to compensate Nigerian farmers for two oil spills in the country 13 years ago, in the first lawsuit in which…

Occidental Delivers World First Carbon-Neutral Oil

Occidental Delivers World First Carbon-Neutral Oil

Jan 29, 2021 at 10:40 | Tsvetana Paraskova

A unit of U.S. Occidental said this week it had delivered the world’s first shipment of carbon-neutral oil, or oil where emissions associated with the entire crude lifecycle—well head…

Tesla To Boost Capacity At Shanghai Gigafactory

Tesla To Boost Capacity At Shanghai Gigafactory

Jan 29, 2021 at 09:20 | Irina Slav

Tesla will increase the capacity of its gigafactory in Shanghai to 450,000 cars this year from the current 250,000 as the vehicles produced there enjoy growing popularity, the company said…

Biden Oil, Gas Drilling Ban Doesn't Apply To Tribal Lands

Biden Oil, Gas Drilling Ban Doesn't Apply To Tribal Lands

Jan 29, 2021 at 09:03 | Charles Kennedy

A temporary ban on oil and gas drilling across federal lands and waters will exclude tribal lands, the White House said in a fact sheet released yesterday, after some Native…

U.S. Pauses Rule That Says Banks Can’t Reject Loans To Oil & Gas

U.S. Pauses Rule That Says Banks Can’t Reject Loans To Oil & Gas

Jan 28, 2021 at 15:38 | Charles Kennedy

The Office of the Comptroller of the Currency (OCC) is pausing the publication of a rule that would make large American banks unable to deny lending money to oil and…

GM Will Go All Electric By 2035

GM Will Go All Electric By 2035

Jan 28, 2021 at 15:11 | Tsvetana Paraskova

GM is going all-in toward an all-electric future, aiming to eliminate all tailpipe emissions from new light-duty vehicles by 2035 as part of a wider strategy to become a carbon-neutral…

Russia Expects Oil Between $45 And $80 By 2035

Russia Expects Oil Between $45 And $80 By 2035

Jan 28, 2021 at 12:27 | Irina Slav

Crude oil prices will trade in a range between $45 a barrel and $80 a barrel in the period until 2035, under a set of scenarios developed by the Russian…

Chevron Seeks Easing Of Some U.S. Sanctions On Venezuela’s Oil

Chevron Seeks Easing Of Some U.S. Sanctions On Venezuela’s Oil

Jan 28, 2021 at 11:42 | Tsvetana Paraskova

U.S. supermajor Chevron is discussing with the U.S. Department of State the possibility that the United States ease some of the sanctions imposed on Venezuela’s oil industry by the Trump…

Russian LNG Production Sees Modest Jump In 2020

Russian LNG Production Sees Modest Jump In 2020

Jan 28, 2021 at 09:35 | Charles Kennedy

Russia’s liquefied natural gas production rose by 3.5 percent last year to a total 30.5 million tons, according to data from Rosstat, the country’s official statistics agency. In December…

New Oil Deals In Iraq Carry Serious Geopolitical Implications

New Oil Deals In Iraq Carry Serious Geopolitical Implications

Jan 27, 2021 at 17:01 | Julianne Geiger

Near the beginning of December, Bloomberg sources suggested that the French oil major Total SA was looking to rid itself of its 18% stake in the Sarsang exploration block in…

Duke Energy Customers Could Pay $5 Billion For Stranded Plants

Duke Energy Customers Could Pay $5 Billion For Stranded Plants

Jan 27, 2021 at 16:46 | Michael Kern

Customers of Duke Energy in the Carolinas could end up paying more than $4.8 billion for planned natural gas-fired capacity that could become stranded as part of the company’s pledge…

IEA: Energy Transition In Developing Economies Crucial To Climate Goals

IEA: Energy Transition In Developing Economies Crucial To Climate Goals

Jan 27, 2021 at 15:32 | Michael Kern

Massive investment in renewable energy in the developing economies, which are set to produce most of the global emissions in the coming years and decades, will be necessary…

Amazon Is Leading The Big Tech Green Energy Push

Amazon Is Leading The Big Tech Green Energy Push

Jan 27, 2021 at 13:54 | Tsvetana Paraskova

Amazon was the world’s largest corporate buyer of renewable energy generation in 2020 and became the top buyer of any corporation to date in a year in which…

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