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Natural gas producers have had little to cheer about over the past few months after prices sunk to multi-year lows amid a huge oversupply and warm weather. The slowdown could not have come at a worse time for the burgeoning U.S. LNG industry, which has experienced explosive growth over the past decade that put the […]

While everyone else was worrying about cheap oil and the future of electric cars, sodium batteries just got closer to becoming mainstream. This challenger to lithium ion technology has been around for a while but it has also been plagued by some inherent problems. Now, another one of these has been solved by researchers from […]

The American Petroleum Institute (API) estimated on Tuesday a small crude oil inventory draw of 483,000 barrels for the week ending May 29. Analysts had predicted an inventory build of 3.038 million barrels. In the previous week, the API estimated a build in crude oil inventories of 8.731 million barrels. Meanwhile, the EIA’s estimates were […]

China has given the go-ahead to plans for a huge $20-billion refinery and petrochemical complex in the Shandong province, the home of the country’s independent refiners, Reuters reported on Tuesday, citing two industry sources familiar with the approval process. The mega petrochemical complex has been years in the planning, but now it looks like the […]

The coronavirus pandemic has dealt an immense blow to businesses and nations all around the planet, yet there is one specific sphere where it might actually deliver some positive outcomes – namely, ending long-standing and costly wars. The Yemeni civil war, one of the most sanguinary conflicts of the 21st century that has rekindled internecine […]

OPEC’s second-largest producer and the biggest laggard in the output cuts, Iraq, will further reduce production and remains committed to the OPEC+ pact, Iraqi Deputy Prime Minister and acting Oil Minister, Ali Allawi, said on Tuesday. “Despite Iraq’s severe financial constraints, we’re addressing technical issues that will allow us to further reduce oil output,” Allawi […]

Oil prices climb ahead of highly-anticipated OPEC+ meeting. Chart of the Week-    The U.S. only sold 729,000 vehicles in the month of April, the lowest since early 2010.-    Car sales were down 59 percent year-on-year, while light truck sales were down 42 percent, a sign that consumers are making a slight shift to trucks and […]Read More

Oil and gas companies currently have assets for sale with recoverable reserves of more than 5 billion barrels of liquids and 7.5 billion barrels of oil equivalent (boe) of natural gas, Rystad Energy estimates.  While some of these planned divestments were announced before the Covid-19-related oil price crash, more were added in reaction to the […]

The Trump administration’s energy policy, as we consider the two candidates for our nation’s highest office, has been very clear. It rests on three conceptual pillars. Remove regulatory and governmental obstacles to the development of fossil fuels. Roll back environmental restrictions on emissions from both energy production and transportation. Reverse government policies to reduce consumption […]

Europe is so awash with natural gas amid weak demand and limited storage capacity that gas suppliers may have to cut flows to prevent natural gas prices from plunging further.   Demand for natural gas is still very weak as major economies in Europe are emerging from lockdowns while gas in storage across the continent […]

“I’m done with fossil fuels. They’re done. They’re just done.” CNBC’s Jim Cramer didn’t even feel the need to address the disappointing earnings from the oil majors. Chevron and ExxonMobil had just announced fourth quarter results, which saw profits drop again. Their stock prices were down by 2 percent or so. It didn’t matter. He […]Read More

Law firm Haynes and Boone recently released its updated Energy Bankruptcy Reports. These reports cover North American oil and gas producers, oilfield services and midstream bankruptcies from the beginning of 2015 through 2019. Over the entire five-year period, 208 oil and gas producers have filed for bankruptcy since Haynes and Boone’s Oil Patch Bankruptcy Monitor began tabulating […]Read More