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U.S. Oil Production Is On The Rise Again

U.S. Oil Production Is On The Rise Again

United States crude oil production…

News

Fuel Demand Slump Speeds Up Refinery Closures

Fuel Demand Slump Speeds Up Refinery Closures

Nov 12, 2020 at 16:39 | Tsvetana Paraskova

Refiners around the world have been announcing permanent closures of refinery capacity this year after the pandemic crushed fuel demand worldwide, and significant overcapacity still remains, the International Energy Agency…

Japan Could Restart Nuclear Reactor Damaged In 2011 Disaster

Japan Could Restart Nuclear Reactor Damaged In 2011 Disaster

Nov 12, 2020 at 15:50 | Tsvetana Paraskova

A local governor in Japan has approved plans from utility Tohoku Electric Power to restart one of its nuclear reactors that was damaged in the 2011 earthquake and the following…

Energy Has Become Bargaining Chip In Brexit Talks

Energy Has Become Bargaining Chip In Brexit Talks

Nov 12, 2020 at 14:37 | Charles Kennedy

The European Union (EU) is conditioning the United Kingdom’s access to the EU energy market to Britain, making concessions on the fishing rights in British waters, Bloomberg reports. In…

Australia-China Spat Threatens LNG Deal

Australia-China Spat Threatens LNG Deal

Nov 12, 2020 at 12:33 | Irina Slav

A sharp worsening in relations between Australia and China could threaten a deal that would have seen Woodside Petroleum sell a stake in a natural gas field and in the…

African Oil Producers Face Slump In Production

African Oil Producers Face Slump In Production

Nov 12, 2020 at 11:22 | Charles Kennedy

The five largest producers of crude oil in Africa face a combined production decline of 19 percent as a result of the pandemic’s effect on oil demand and the acceleration…

Record-Breaking Hurricane Season Took Major Toll On Gulf Of Mexico Production

Record-Breaking Hurricane Season Took Major Toll On Gulf Of Mexico Production

Nov 12, 2020 at 10:01 | ZeroHedge

On Thursday morning, Tropical Storm Eta made landfall over North Florida and has become the 12th named storm to make landfall out of a record-breaking year of 29 named storms.…

Ghana Tells Eni To Merge Oil Field With Local Discovery

Ghana Tells Eni To Merge Oil Field With Local Discovery

Nov 12, 2020 at 09:38 | Irina Slav

Ghana has told Italy’s Eni to merge its Sankofa offshore discovery with another field, discovered by a locally based company, Bloomberg reports, citing a letter by Ghanaian Energy Minister…

Iran Claims Its Oil Exports Have Been At 700,000 Bpd Since March

Iran Claims Its Oil Exports Have Been At 700,000 Bpd Since March

Nov 11, 2020 at 17:04 | Tsvetana Paraskova

Iran said on Wednesday that its oil exports have averaged between 600,000 barrels per day (bpd) and 700,000 bpd since the start of the Iranian year in March, yet analysts…

Lockdowns And More Lockdowns Threaten Oil Demand

Lockdowns And More Lockdowns Threaten Oil Demand

Nov 11, 2020 at 16:46 | Julianne Geiger

After parts of Europe went into lockdown again last week, a new wave of lockdowns throughout the world are threatening to tamp down oil demand yet again—and just when things…

This Middle East Crude Is Becoming A Popular Benchmark For U.S. Oil Majors

This Middle East Crude Is Becoming A Popular Benchmark For U.S. Oil Majors

Nov 11, 2020 at 14:11 | Charles Kennedy

Chevron, Occidental, and oil trading giant Trafigura have agreed to explore the idea to price the light U.S. crude they export to Asia off the upcoming ICE…

Saudi Arabia And Iraq Agree To Intensify OPEC Cooperation

Saudi Arabia And Iraq Agree To Intensify OPEC Cooperation

Nov 11, 2020 at 11:35 | Irina Slav

Saudi Arabia and Iraq will cooperate and coordinate their positions on oil policies within the organization of Petroleum Exporting Countries and will remain committed to decisions already made by the…

Canada And Saudi Arabia Lead Fossil Fuels Funding In G20

Canada And Saudi Arabia Lead Fossil Fuels Funding In G20

Nov 11, 2020 at 10:51 | Tsvetana Paraskova

Governments of the G20 nations are still spending more than half of trillion U.S. dollars every year to support fossil fuel industries, with Canada and Saudi Arabia the biggest supporters…

Oxy Becomes First U.S. Driller To Announce Net-Zero Plan

Oxy Becomes First U.S. Driller To Announce Net-Zero Plan

Nov 11, 2020 at 09:31 | Charles Kennedy

Occidental Petroleum has become the first U.S. oil company to announce a plan to slash greenhouse gas emissions to net-zero by 2050. In a five-minute video, Oxy cited its…

Oil Prices Tick Up With Inventory Draws Across The Board

Oil Prices Tick Up With Inventory Draws Across The Board

Nov 10, 2020 at 15:50 | Julianne Geiger

The American Petroleum Institute (API) reported on Tuesday a major draw in crude oil inventories of 5.147 million barrels for the week ending November 6. Analysts had predicted an inventory…

U.S. Energy Related CO2 Emissions Drop

U.S. Energy Related CO2 Emissions Drop

Nov 10, 2020 at 13:40 | Charles Kennedy

U.S. energy-related carbon dioxide emissions dropped by 3 percent last year, offsetting a 3-percent increase in 2018, as a record-high share of low-carbon sources were used in the electricity sector—the…

Pirate Attacks On Oil Tankers Off West Africa Intensify

Pirate Attacks On Oil Tankers Off West Africa Intensify

Nov 10, 2020 at 10:36 | Tsvetana Paraskova

Several oil tankers were attacked or approached with attempted attacks in the Gulf of Guinea off West Africa over the past few days, maritime security companies warn. Over the past…

IEA: Renewables To Grow 7% In 2020

IEA: Renewables To Grow 7% In 2020

Nov 10, 2020 at 08:37 | Charles Kennedy

Renewable power generation capacity will increase by 7 percent this year despite a 5-percent forecast decline in global energy demand, the International Energy Agency said in its Renewables 2020…

UAE Oil Major ADNOC Sees Oil Demand Reaching 105 Million Bpd Within Decade

UAE Oil Major ADNOC Sees Oil Demand Reaching 105 Million Bpd Within Decade

Nov 09, 2020 at 17:22 | Julianne Geiger

Group CEO of the Abu Dhabi National Oil Company (ADNOC) on Monday forecast that oil demand will reach more than 105 million bpd within the next decade. Dr. Sultan Bin…

Oman Looks To Raise $3 Billion Through Its Largest Oil Block

Oman Looks To Raise $3 Billion Through Its Largest Oil Block

Nov 09, 2020 at 16:26 | Charles Kennedy

Middle Eastern oil producer Oman is looking to raise $3 billion in a debt issue next year via a new company expected to hold the country’s majority stake in its…

India Invites Foreign Firms To Invest In Its Strategic Petroleum Reserves

India Invites Foreign Firms To Invest In Its Strategic Petroleum Reserves

Nov 09, 2020 at 13:32 | Charles Kennedy

India, the world’s third-largest oil importer, is inviting foreign energy companies to invest in its projects to expand its strategic petroleum reserve capabilities, Indian Oil Minister Dharmendra Pradhan said on…

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