The Trump administration took another swipe at China and its biggest firms on Thursday, imposing sanctions on officials and companies for alleged misdeeds in the South China Sea and imposing an investment ban on nine more firms. The moves come just days before Trump steps down and President-elect Joe Biden takes office.   Executives Read more

  OPEC’s crude oil export revenues for 2020 could decline to $323 billion, the U.S. Energy Information Administration said in a new report, noting that this would be the lowest revenue level in 18 years.This would compare to $595 billion in oil revenues for 2019, the authority added.   Unsurprisingly, the biggest chunk of OPEC’s Read more

  OPEC, and especially OPEC+, has always seemed to be at odds with the U.S. shale industry. From the drastic oil embargos of the ‘70s to the all-out oil price war of 2020, OPEC policies have threatened to upend the United States’ use and production of crude. But the group’s latest policies may be a Read more

  OSLO: A dozen workers at Norway’s Mongstad oil refinery could go on strike if an upcoming round of wage talks fails to result in agreement, Norway’s Safe labour union said on Friday.   No date has yet been set for the negotiations, which will be led by a government-appointed mediator.In case of a protracted Read more

The American Petroleum Institute (API) today hosted its annual State of American Energy address, where it outlined actions the natural gas and oil industry is taking to support the nation’s economic recovery and a vision for an affordable, reliable and cleaner energy future. API President and CEO Mike Sommers headlined the event that drew more Read more

  Days before the end of the current Administration, a U.S. banking industry regulator finalized a rule under which large American banks cannot deny lending money to oil and gas companies. The Office of the Comptroller of the Currency (OCC) released on Thursday its finalized rule to ensure the so-called fair access to banking services, Read more

Angola, as the second-largest oil producer in sub-Saharan Africa, holds approximately 8.2 billion barrels of proven oil reserves. Contributing to 50% of gross domestic product and nearly 90% of national exports, oil represents an invaluable resource to the domestic economy. The country also holds the fourth-largest proven natural gas reserves in Africa – approximately 343 Read more

  Spot crude prices settled sharply higher in December, extending the previous month’s gains, buoyed by a further improvement in physical market fundamentals and strong crude buying from the Asia Pacific region. The OPEC Reference Basket increased by $6.56, or 15%, month-on-month (m-o-m), to stand at $49.17/b in December. However, in annual terms, the ORB Read more

  eThe U.S. State Department this month told European companies which it suspects are helping to build Russia’s Nord Stream 2 gas pipeline that they face the risk of sanctions as the outgoing Trump administration prepares a final round of punitive measures against the project, two sources said on Tuesday.   “We are trying to Read more

  The US Energy Information Administration revised its crude price forecast higher in its in its monthly Short-Term Energy Outlook released Jan. 12 amid tightened supply outlooks and upward-trending demand projections.   The EIA now expects Brent crude prices to average at around $52.75/b in 2021, up $4.25/b from its December forecast, and at $53.42/b Read more

  OPEC and shale oil output will need to rise this year to help offset a potential supply squeeze by the year-end as the markets play catch-up with 2019 demand levels, the CEO of Vitol said Jan. 13.   “The market is fast forwarding to a point where demand kind of catches up with where Read more

  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 Read more

  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.   Read more

  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 Read more

  Indonesia is located in the Pacific Ring of Fire, which has great potential for natural disasters. These disasters have caused damage to energy infrastructure and casualties. Natural disasters usually cut the energy supply chain in an area, causing a shortage of fuel supply and power outages.   Besides natural disasters, energy crisis events occur Read more