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Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Despite Congress passing new sanctions…

The Renewable Energy Boom Has a Waste Problem

The Renewable Energy Boom Has a Waste Problem

The rapid growth of renewable…

News

Iraq Denies Report It Sought OPEC Cut Exemption

Iraq Denies Report It Sought OPEC Cut Exemption

Sep 03, 2020 at 09:29 | Charles Kennedy

Iraq is not seeking an exemption from the OPEC+ production cuts, the country’s oil ministry said in a statement following a Reuters report that suggested OPEC’s number-two was seeking…

Oil Prices Hit Hard By Lower Refinery Runs

Oil Prices Hit Hard By Lower Refinery Runs

Sep 02, 2020 at 16:25 | Julianne Geiger

Oil prices took a tumble on Wednesday post-EIA report, despite a favorable crude inventory report that showed oil inventories in the United States had shrunk by nearly ten million barrels.…

U.S. Jet Fuel Demand Recovers Faster Than Expected

U.S. Jet Fuel Demand Recovers Faster Than Expected

Sep 02, 2020 at 13:40 | Charles Kennedy

Jet fuel demand in the United States is recovering faster than in many other regional markets such as Europe and Asia minus China, the U.S. Energy Information Administration (EIA)

Oil Major Exxon Considers Global Job Cuts

Oil Major Exxon Considers Global Job Cuts

Sep 02, 2020 at 12:36 | Charles Kennedy

ExxonMobil is considering cutting jobs worldwide on a country-by-country basis, a spokesman for the U.S. oil supermajor told Reuters on Wednesday, after the firm began a voluntary redundancy program…

50% Of Hard-Rock Miners Are Losing Money As Lithium Prices Slump

50% Of Hard-Rock Miners Are Losing Money As Lithium Prices Slump

Sep 02, 2020 at 11:35 | MINING.com

Investment in battery manufacturing plants and electric vehicle factories continues to boom around the world, but for now the market for lithium shows no signs of emerging from its multi-year…

Iraq Looks To Be Exempted From OPEC+ Cuts In Q1 2021

Iraq Looks To Be Exempted From OPEC+ Cuts In Q1 2021

Sep 02, 2020 at 10:32 | Tsvetana Paraskova

Iraq has asked OPEC to be exempted from oil export cuts in the first quarter of 2021, the oil minister of OPEC’s second-largest producer and the least compliant member of…

Suspicious Package Removed From Pipeline Site In Texas

Suspicious Package Removed From Pipeline Site In Texas

Sep 02, 2020 at 09:27 | Charles Kennedy

A suspicious package was “neutralized” by law enforcement agents at the construction site of a pipeline in Texas, Reuters reported, noting that there was no immediate information provided as…

Turkey Says It’s Open To Dialogue With Greece To End Drilling Dispute

Turkey Says It’s Open To Dialogue With Greece To End Drilling Dispute

Sep 02, 2020 at 08:41 | Charles Kennedy

Turkey said on Tuesday that it was open to dialogue with its neighbor Greece to end the dispute over the oil and gas resources in the eastern Mediterranean and the…

Tesla Plans To Sell $5 Billion In Shares As Stock Rallies

Tesla Plans To Sell $5 Billion In Shares As Stock Rallies

Sep 01, 2020 at 17:02 | Tsvetana Paraskova

Tesla plans to sell additional common stock worth up to US$5 billion and has hired Wall Street’s biggest banks as sales agents, the EV maker said on Tuesday, days…

Oil Rallies After API Reports Large Draw In Crude, Gasoline Inventories

Oil Rallies After API Reports Large Draw In Crude, Gasoline Inventories

Sep 01, 2020 at 15:52 | Julianne Geiger

The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 6.360 million barrels for the week ending August 28. Analysts had predicted an inventory draw…

Iraq’s Crude Oil Exports Drop In August

Iraq’s Crude Oil Exports Drop In August

Sep 01, 2020 at 14:22 | Tsvetana Paraskova

Iraq’s crude oil exports fell in August compared to July, as OPEC’s second-largest producer is reducing supply in an attempt to comply with the OPEC+ production cut pact, which it…

Iran Says Oil, Petrochemicals Investment Hit $10B In Five Months

Iran Says Oil, Petrochemicals Investment Hit $10B In Five Months

Sep 01, 2020 at 12:55 | Charles Kennedy

Oil and petrochemical investment in Iran has reached US$10 billion since the beginning of the Iranian calendar year in March, the Islamic Republic News Agency (IRNA) reported on Tuesday,…

UAE’s August Oil Production Rises Above OPEC Limits

UAE’s August Oil Production Rises Above OPEC Limits

Sep 01, 2020 at 11:39 | Tsvetana Paraskova

The United Arab Emirates (UAE), currently OPEC’s third-largest producer, increased its oil production in August to above its quota as per the OPEC+ deal as electricity demand soared in the…

North Korea Could Store Up To 1-Year Of Crude Oil Supplies

North Korea Could Store Up To 1-Year Of Crude Oil Supplies

Sep 01, 2020 at 10:39 | Michael Kern

North Korea could have oil storage capacity of up to 1.5 million tons or almost 11 million barrels—an amount that could last it a full year if the country gets…

Vietnam Issues Decree Against Illegal Oil & Gas Drilling

Vietnam Issues Decree Against Illegal Oil & Gas Drilling

Sep 01, 2020 at 09:34 | Irina Slav

Vietnam’s government has issued a decree against illegal oil and gas exploration in its waters in the South China Sea, threatening fines and property seizures for violators, regardless of…

U.S. Seizes Websites Involved In Illegal Oil Trade

U.S. Seizes Websites Involved In Illegal Oil Trade

Aug 31, 2020 at 18:20 | Julianne Geiger

The United States announced today that it has seized three websites used by sanctions-violators to trade in crude oil, according to an official press release. The websites were, according…

Venezuela Moves From Oil To Gold

Venezuela Moves From Oil To Gold

Aug 31, 2020 at 15:49 | Julianne Geiger

As Venezuela’s near-nothing oil industry slinks further into nothingness, a new commodity is taking shape in the crisis-stricken Latin American country sitting atop the world’s largest oil reserves: gold. According…

Libya's Biggest Oilfield Halts All Work After Employee Tests Covid Positive

Libya's Biggest Oilfield Halts All Work After Employee Tests Covid Positive

Aug 31, 2020 at 14:57 | Charles Kennedy

Libya's largest oilfield, Sharara, is stopping all operations, and the operator is evacuating the workers as a foreign employee had tested positive for the coronavirus after coming into contact with…

Mexico’s Oil Major Pemex Ignores Investor Calls To Curb Emissions

Mexico’s Oil Major Pemex Ignores Investor Calls To Curb Emissions

Aug 31, 2020 at 13:30 | Tsvetana Paraskova

Mexico’s state oil firm Pemex is not planning a shift toward curbing carbon emissions or green energy, as Mexican President Andrés Manuel López Obrador continues to bet on oil exploration…

Least Populated U.S. States Consume More Gasoline, Jet Fuel Per Capita

Least Populated U.S. States Consume More Gasoline, Jet Fuel Per Capita

Aug 31, 2020 at 11:27 | Tsvetana Paraskova

The U.S. states with the lowest population density consume the most amount of energy per person for transportation, with Alaska – the least populated state – consuming the most energy…

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