The Archives
Thirsty Thursday: An Inventory Report (12/1/22)
Previous Reports Welcome back to another Thirsty Thursday, the most entertaining hydrocarbon inventory report on the internet! As you likely noticed there was no Thirsty Thursday last week, due to the holiday we thought you would prefer filling up on turkey over...
OilPrice.com | French Grid Operator Warns Of Power Cuts This Winter
France could face the risk of power cuts this winter when electricity supply may not be enough to meet demand, Xavier Piechaczyk, the head of grid operator RTE, said on Thursday, citing the price to pay for slow renewables and a nuclear energy infrastructure...
CNBC | White House weighs future release of emergency heating, crude oil reserves as winter nears
An aerial of the Strategic Petroleum Reserve storage at the Bryan Mound site seen on October 19, 2022 in Freeport, Texas. The main casualties who will suffer the brunt of high energy prices is neither the United States nor Europe — but emerging and developing...
FNB | Australia opposes UNESCO adding Great Barrier Reef to endangered listing
Australia’s environment minister said Tuesday her government will lobby against UNESCO adding the Great Barrier Reef to a list of endangered World Heritage sites, arguing that criticisms of government inaction on climate change were outdated.Officials from the...
OilPrice.com | Source: Don’t Expect Any Oil Supply Surprises From The Sunday OPEC+ Meeting
By Irina Slav - Nov 30, 2022, 8:00 AM CST OPEC+ is opting to meet virtually this Sunday. The virtual meeting suggests that there won’t be any surprise changes in its oil price policy. Some OPEC+ delegates believe that further cuts may be...
Rigzone | The IRA makes green hydrogen profitable at scale, Goldman says
Hydrogen storage tanks photographed in Spain on May 19, 2022. Hydrogen has a diverse range of applications and can be deployed in a wide range of industries.Angel Garcia | Bloomberg | Getty ImagesThe United States' Inflation Reduction Act represents a "turning...
Rigzone | Energy stocks could double next year even in a flat market, according to Fundstrat’s Tom Lee
Oil was one of the biggest market headwinds earlier this year but even as it turns into a tailwind, it offers a key lesson for investors, according to Fundstrat's Tom Lee. "For many years, our clients thought energy was a group that they could ignore because...
Enverus | Halliburton Selects Enverus for Energy Analytics and Intelligence
Single source platform makes intelligent connections for an industry constantly disrupted by change Austin, Texas (November 29, 2022) — Today Enverus, the most trusted energy-dedicated SaaS platform, announced a new, multi-year agreement for Halliburton to...
Rigzone | Goldman Sachs sees ‘high probability’ of OPEC+ production cut
A group of some of the world's most powerful oil producers is highly likely to take further measures to stem a price decline and try to balance the market, according to Goldman Sachs.OPEC and non-OPEC producers, an influential energy alliance known as OPEC+,...
OilPrice.com | Biden Administration Proposes New Rules To Curb Gas Flaring
The Biden administration has proposed a set of new rules aimed at curbing gas flaring on public lands, with the Bureau of Land Management saying these measures would result in $39.8 million in additional royalties for the United States.Per the proposal, every...
OilPrice.com | UAE To Cut Oil Supply To Asia By 5% In December
The United Arab Emirates (UAE) will lower its crude oil exports to some term contract customers in its key market Asia by 5% in December amid weak demand and oil prices, five sources familiar with the plans told Reuters on Monday.Abu Dhabi National Oil Company...
Epoch Times | Energy Boss Warns Australia Not to Shut Down Fossil Fuel Power Plants too Early
The head of a major energy company in Australia has warned that shutting down coal and gas power plants too early will expose the national power grid to significant risks. In an interview with the Australian Financial Review, EnergyAustralia managing director...
OilPrice.com | Will The World See A U-turn In Nuclear Energy?
By ZeroHedge - Nov 26, 2022, 6:00 PM CST Nuclear's share in total global power generation has dropped significantly since the 90s. Continued resistance to new nuclear projects complicates a quick u-turn for many nuclear programs. The number of...
OilPrice.com | The Diesel Crunch Is Finally Causing Demand Destruction
High prices seem to have started to weigh on diesel demand in the United States, where distillate inventories – comprising diesel and heating oil – have been slowly rising over the past few weeks. American distillate inventories are still below the five-year...
OilPrice.com | More Bad News For Oil Demand As China’s Covid Cases Soar
Another spike in Covid infections in China is threatening more downward pressure for oil prices, as Chinese authorities reported a new daily record in new infections on Thursday.According to Reuters, China recorded close to 32,700 new infections on Thursday, of...
Rigzone | G7 price cap on Russia oil won’t have strong impact on Moscow: analysts
Picture taken on May 3, 2022 shows a general view of Slovakia's largest mineral oil refinery Slovnaft in Bratislava, Slovakia. (Photo by JOE KLAMAR / AFP)Joe Klamar | Afp | Getty ImagesThe Group of 7 nations are in talks to cap Russian oil at $65 and $70 a...
OilPrice.com | Gas Price Cap Could Cause Irreversible Harm To Energy Markets
Earlier this week, the European Commission issued a statement declaring what it called a “safety price ceiling” for gas prices set at 275 euros, or $283 dollars, per megawatt-hour.Hailed as the long-awaited gas price cap that EU members have been discussing for...
OilPrice.com | Europe Gas Crisis Subsides: Trafigura
The gas supply crunch that Europe has been struggling with for months now seems to be abating, and the continent might emerge from this winter relatively unscathed—but only if the Russian gas pipeline through Ukraine remains open.This is according to the chief...
FNB | United Kingdom’s ‘Pablo Escobar’ released from prison after 13 years amid fears of ‘drugs turf war’
One of the United Kingdom’s most well-known drug kingpins, often referred to as Britain’s version of Pablo Escobar, has been released from prison raising concerns that he may return to a life of crime.Curtis Warren, who amassed a fortune of more than $230...
Epoch Times | RBA Govenor Faces Government Criticism on Interest Rate Policy and Wage Rises
The governor of the Reserve Bank of Australia (RBA), Phillip Lowe, has faced fierce criticism by the federal government over remarks about Australia’s current economic situation on wage growth and interest rate rises. In a speech made at a business dinner on...
Rigzone | Russian oil transport targeted due to Ukraine invasion
The Treasury Department issued new guidance Tuesday about policies on the maritime transport of Russian oil ahead of a planned price cap in early December.The guidance, which complements the U.K.'s newly-released policies, outlines how U.S. service providers...
Enverus | Is Louisiana CO2 Storage Risky?
Reservoir investigations key to project success and future viability Calgary, Alberta (November 22, 2022) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, has released a report exploring risks and...
OilPrice.com | Giant Australian Construction Firm Moves Away From Gas In New Structures
One of Australia’s largest real estate developers, Lendlease Corp., has announced plans to stop constructing gas infrastructure in new buildings from 2030 onwards as part of efforts to quit fossil fuels by 2040.Lendlease Corp. will also retrofit all of its...
Rigzone | Oil giant BP is a buy as fundamentals remain strong, Citi says in upgrade
Citi says it's time for investors to load up on shares of BP . Analyst Alastair Syme upgraded the oil stock to a buy from a neutral rating, saying BP offers a more favorable valuation than its European peers and "decent growth characteristics." "Growth is one...
CNBC | Oil falls on fear of weak China demand, impact of Russian sanctions
Oil prices were volatile Monday as traders considered the possibility of weakening Chinese demand and a growing view the world could have sufficient supplies even with a European ban on Russian oil. After a wild session, West Texas Intermediate crude futures...