Crude oil prices jumped to pre-pandemic 11-month highs on Tuesday as investors bet the pandemic’s grip on energy demand is coming to an end as the rollout of vaccines and stimulus will keep rebalancing on track. On the New York Mercantile Exchange WTI crude futures for January delivery rose $1.07 to settle at…
Africa’s second-largest oil exporter Angola has received approval from the International Monetary Fund for a disbursement of over $480 million under a $3.7-billion loan agreement as it continues to struggle with low oil prices and weak exports. Reuters quoted the international lender as praising for its “robust” response to the twin challenge of…
No country is immune to the rapid disruption occurring in the global energy sector. New technological innovations in both supply and demand have changed the technical versus economic discourse. Renewables are now cheaper than any fossil fuel in most parts of the world. And Indonesia’s no exception to this transition as per IEEFA. …
Trump administration expected to grant biofuel waivers for some oil refinersNEW YORK – The Trump administration is expected to grant waivers to some oil refiners that would exempt them from requirements to blend biofuels into their fuel mix for the 2019 compliance year, according to two sources familiar with the matter. The move…
Natural gas reserves in the United States fell by 2 percent in 2019 due to low prices, the Energy Information Administration said in an update on the country’s oil and gas reserves. Henry Hub prices for natural gas in 2019 fell by more than 21 percent from 2018, the authority noted, adding that…
WTI is back above $50 a barrel, and things are looking up for the battered U.S. oil industry. Yet, although the worst may be behind drillers, they still face a lot of difficulties, including the danger of more loan defaults. Fitch Ratings warned about the continued threat of defaults in a recent update,…
Waiting for days to get delivery of liquefied petroleum gas (LPG or cooking gas) cylinder may soon be a thing of the past. Indian Oil Corporation (IOCL) is planning to roll out a Tatkal LPG Seva in a bid to ensure that consumers get cooking gas cylinder on the day it is booked. …
On 6 May 2017, The Economist newsweekly published an article that inserted itself into the zeitgeist like nothing that venerable publication had ever published before. It was titled ‘The Worlds Most Valuable Resource is No Longer Oil, But Data’, and dealt for the most part with the antitrust implications of Big Tech. So visceral…
Emphasising on zero carbon emissions to get rid of pollution in cities, Amitabh Kant, CEO, NITI Ayog, on Monday said India’s energy growth story will be driven by renewable energy in the coming future. “After the industry and residential sector, the transportation sector is the third-largest energy consumer. In India, 17% of which…
The price of oil has already risen to over $55/barrel for Brent and $51/barrel for WTI after OPEC, together with its partners led by Russia (together OPEC+), has agreed on a new production level for the months of February and March. Nonetheless, strategists at ABN Amro do not expect oil prices to rise much…
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