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Tag: oil


Energy, Industry Focus Areas

Oil Shows Signs of Softening Before OPEC+ Meeting

November 27, 2023

Via: Transport Topics

Ahead of the delayed OPEC+ meeting on Nov. 30, there are indications oil supply is running ahead of demand, highlighting the thorny challenge facing the cartel as it prepares to set output policy for 2024. With futures well down from […]


Energy, Industry Focus Areas

Chinese company gives leftover hotpot oil second life as jet fuel

November 21, 2023

Via: Phys.org

At an upmarket restaurant in the hotpot-loving Chinese city of Chengdu, diners plunge sliced meat and vegetables into cauldrons of spicy, oily broth, largely unaware that their leftovers are set to take on a second life as jet fuel. With […]


Energy, Industry Focus Areas

Middle East Crisis Could Disrupt Oil Supplies, Raise Prices

October 20, 2023

Via: Transport Topics

Fifty years after the 1973 Arab oil embargo, the current crisis in the Middle East has the potential to disrupt global oil supplies and push prices higher. But don’t expect a repeat of the catastrophic price hikes and long lines […]


Energy, Industry Focus Areas

Fossil fuel demand to peak this decade: IEA chief in FT

September 12, 2023

Via: Phys.org

World demand for oil, gas and coal is forecast to peak this decade for the first time as the use of cleaner energy and electric cars accelerates, the International Energy Agency’s chief wrote Tuesday in the Financial Times. The IEA’s […]


Energy, Industry Focus Areas

BP Profits Are Cut in Half to $2.6 Billion

August 1, 2023

Via: Transport Topics

Energy giant BP said Aug. 1 that it earned nearly $2.6 billion in the second quarter, almost half what it posted in the first three months of the year as oil and natural gas prices that surged after Russia’s invasion […]


Energy, Industry Focus Areas

Shell Earnings Top $5 Billion in Q2

July 27, 2023

Via: Transport Topics

Shell reported July 27 that it earned nearly $5.1 billion in the second quarter, nearly half what the oil and natural gas giant pulled in during the first three months of the year as energy prices have plunged. The British […]


Energy, Industry Focus Areas

Biden Administration Approves Willow Oil-Drilling Project in Alaskan Arctic

March 13, 2023

Via: The Wall Street Journal

The Biden administration approved the massive Willow oil-drilling project in the Alaskan Arctic over the objections of environmentalists and many Democrats who wanted the project scuttled. The green light means Houston-based ConocoPhillips can start construction on its roughly $7 billion […]


Energy, Industry Focus Areas

House Republicans Seek New Restrictions on Use of Oil Stockpile

January 30, 2023

Via: Transport Topics

For the second time this January, House Republicans have advanced a measure to restrict presidential use of the nation’s emergency oil stockpile — a proposal that has already drawn a White House veto threat. A GOP bill approved Jan. 27 […]


Energy, Industry Focus Areas

Exxon, Chevron Focus on Oil Projects in the Americas

January 3, 2023

Via: The Wall Street Journal

The globe is shrinking for Exxon Mobil Corp. and Chevron Corp. as the two largest U.S. oil companies pull back on big international oil projects and concentrate on a handful of more lucrative assets closer to home. The two fossil-fuel […]


Energy, Industry Focus Areas

Oil-and-Gas Companies Seek ESG Loans

December 27, 2022

Via: The Wall Street Journal

The oil-and-gas industry is increasingly looking to tap the rapidly growing pool of ESG-linked financing. Not everyone is convinced by the companies’ pledges to cut emissions, which underpin the loans. Since 2021, a handful of North American fossil-fuel companies have […]


Energy, Industry Focus Areas

Hilcorp, Exxon and Conoco Top Greenhouse Gas Emitters

July 14, 2022

Via: The Wall Street Journal

Hilcorp Energy Co., Exxon Mobil Corp., Conoco COP -5.27%▼Phillips and Occidental Petroleum Corp. OXY -3.40%▼ are the U.S. oil-and-gas industry’s top emitters of planet-warming greenhouse gases, according to a new report based on federal data. The four companies are also […]


Energy, Industry Focus Areas

Biden Crude Oil Release Moves Into Second Round

December 17, 2021

Via: Transport Topics

The Biden administration’s release of crude from U.S. emergency reserves to cool oil’s rally is going into a second round, with bids due by the first working day of the year. The Department of Energy is selling 18 million barrels […]


Energy, Industry Focus Areas

Gas Shortage Forces Power Plants to Switch to Oil, Boosting Demand

October 14, 2021

Via: The Wall Street Journal

Soaring natural-gas and coal prices are pressuring power-generation companies and manufacturers to switch to using oil, a trend that could add half a million barrels a day to global demand, the International Energy Agency said Thursday. In its monthly market […]


Energy, Industry Focus Areas

Diesel Stockpiles at 20-Year Low as Winter Nears

October 7, 2021

Via: Transport Topics

U.S. inventories of distillates — used as diesel for both transportation and heating oil — are enough to meet just 31.2 days of demand, according to the Energy Information Administration. That’s the tightest it has been for this time of […]


Energy, Industry Focus Areas

Chevron CEO Warns of High Energy Prices, Supply Crunches

September 16, 2021

Via: Transport Topics

The world is facing high energy prices for the foreseeable future as oil and natural gas producers resist the urge to drill again, according to Chevron Corp.’s top executive. “There are things that are interfering with market signals right now […]


Energy, Industry Focus Areas

No Hurricane Has Hit US Energy Markets Like Ida Has

September 8, 2021

Via: Transport Topics

Just over 20% of U.S. Gulf of Mexico oil and natural gas production is back online after Hurricane Ida battered southeast Louisiana, marking an even slower comeback than in the wake of Katrina. More than a week after the Category […]


Energy, Industry Focus Areas

Saudi-Owned Motiva Suspends $6.6 Billion Petrochemical Expansion

July 19, 2021

Via: The Wall Street Journal

Saudi-owned Motiva Enterprises LLC suspended a $6.6 billion plan to add petrochemical facilities to its refining operations in Port Arthur, Texas, according to people familiar with the matter. The decision to halt the project—which had envisioned the creation of the […]


Energy, Industry Focus Areas

Oil Wavers With Talks Resuming on Potentially Reviving Iran Deal

May 25, 2021

Via: Transport Topics

Oil was little changed as investors weighed talks of higher Iranian supply against the prospect of a continued recovery in demand. West Texas Intermediate edged higher after switching between gains and losses in a roughly $1-a-barrel trading range. Talks between […]


Energy, Industry Focus Areas

Oil Climbs With US Demand Bump Driving Global Rebound Optimism

April 28, 2021

Via: Transport Topics

Oil advanced to the highest intraday level in more than a month as a combination of declining U.S. petroleum product supplies and signs of stronger demand buttressed expectations for a revival in global consumption. Futures jumped as much as 2.2% […]


Energy, Industry Focus Areas, Regulations

Biden to SuspendNew Federal Oil and Gas Leasing

January 26, 2021

Via: The Wall Street Journal

President Biden is planning on Wednesday to halt new oil and gas leasing on federal territory, people familiar with the matter said, setting up a confrontation with the oil industry over the future of U.S. energy. The Biden administration has […]