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China Is Key To Global Fight Against Climate Change
by Tsvetana Paraskova
24 Jan 2020 at 9:30am
China, the world?s largest greenhouse gas emission emitter, will be the key to the global action to fight carbon emissions and climate change, leading environmental economist Lord Nicholas Stern said at the World Economic Forum in Davos. ?We are at a critical point now where the decisions that shape the world will be taken in China,? Lord Stern, Chair of the Grantham Research Institute on Climate Change and the Environment, said, as carried by the NS Business outlet. According to Lord Stern, China needs to reduce its reliance?

China Virus Fears Send Oil Prices Even Lower
by Tsvetana Paraskova
24 Jan 2020 at 9:00am
Oil prices were down early on Friday for a fourth consecutive session, as fears of the deadly Chinese virus spreading and concerns about oil demand trumped supply outages and set prices on course for a 5-percent weekly loss. Oil prices hit their lowest since late November early on Friday. As of 09:52 a.m. EDT on Friday, WTI Crude was down 1.89 percent at US$54.54, while Brent Crude traded down 1.73 percent at US$60.22. This week started on the bullish note for oil prices, after a port blockade in Libya that began in the weekend threatened to cut?

China Sees Jump In Gasoline, Jet Fuel Exports
by Irina Slav
24 Jan 2020 at 7:30am
A 99-percent utilization rate of state quotas in China drove oil product exports up 20.1 percent last year, customs data quoted by S&P Global Platts has revealed. In volume terms, oil product exports amounted to 55.36 million tons, from total quotas of 55.994 million tons. The biggest increase was booked in gasoline exports. These went up 27 percent on 2018 to 16.37 million tons. The increase was particularly marked in the last month of 2019, when exports of gasoline rose by 35.8 percent on the year. Jet fuel exports also booked strong growth,?

Burning Trees For Heating Won?t Help With Climate Change: UK Think Tank
by Irina Slav
24 Jan 2020 at 7:30am
A suggestion by the UK Committee on Climate Change to burn more wood and plant replacement trees as a sustainable alternative to fossil fuels has drawn criticism from think tank Chatham House, which says this is hardly the best approach to reducing emissions. "Expanding forest cover is undoubtedly a good thing, if you're leaving them standing," energy expert Duncan Brack told the Daily Telegraph. However, Brack, who served as special adviser to the Department of Energy and Climate Change, suggested that burning wood for heating was not the most?

Why The Coronavirus Is A Real Threat To Oil Markets
by Julianne Geiger
23 Jan 2020 at 5:00pm
It impairs your breathing, causes extreme fatigue and fevers. It kills. And beyond that, it?s keeping oil prices low by threatening to stifle oil demand in one of the world?s largest oil markets. It?s SARS CoV, better known as the SARS Coronavirus, and it?s shaping up to be the oil market?s biggest nemesis this year. And there?s no cure. SARS, which stands for severe acute respiratory syndrome, is not only deadly, but highly contagious?more contagious than originally thought, and this coronavirus-inspired?

The End Of A Dark Decade For Energy Commodities
by Alex Kimani
23 Jan 2020 at 4:00pm
Beaten-down commodity markets may be tempting investors to start adding the asset class to their portfolios as they seek to diversify even as the epic stock market bull run continues to divide opinion. After years of underperformance, the broad commodity market finished the year with an impressive 17.6% gain, leading to a cross-section of experts calling an end to the 8-year bear market. However, we might need to pump our brakes here before going all in. Although all major asset classes finished the year in the black, individual commodity?

Iraq Set To Award More Gas Exploration Contracts
by Tsvetana Paraskova
23 Jan 2020 at 4:00pm
As it struggles with its energy needs, Iraq is set to hold a fifth bidding round for exploration and development of natural gas fields in an eastern province of the country. Iraq has approved contracts for exploration for the fifth round, Reuters quoted the government as saying in a statement. In a previous bidding round in 2018, no international oil major won any exploration and development contracts in Iraq?s auction of 11 oil and gas blocks, as the bidding attracted just one?unsuccessful?bid by a major company, Eni,?

U.S. Shale Patch Sees Huge Jump In Bankruptcies
by Nick Cunningham
23 Jan 2020 at 3:00pm
More than 200 oil and gas companies in North America have filed for bankruptcy since 2015, and the list of casualties could continue to climb this year. From 2015 through November of last year, 208 companies filed for bankruptcy, according to a new report from law firm Haynes and Boone. Those filings involved a combined $121.7 billion in debt. Since the last update from Haynes and Boone at the end of the third quarter last year, nine firms went bankrupt. In fact, in 2019, bankruptcies surged by 50 percent compared to a year earlier, and hit the?

Guyana On The Hunt For Oil Firm To Trade Its Oil
by Julianne Geiger
23 Jan 2020 at 3:00pm
Guyana?s government is on the lookout for an oil company or oil trading firm to sell and market its brand new crude oil, according to the director of the Department of Energy Mark Bynoe, Reuters said on Thursday. With Guyana?s oil industry still in its infancy, it does not yet have the resources to market its own crude oil that it is entitled to from the wildly successful consortium of ExxonMobil, Hess, and CNOOC that found 15 discoveries in 2019. Guyana will ask international oil companies (IOCs) and oil trading firms next month for?

Iran Faces Threat Of Full Global Sanctions
by Simon Watkins
23 Jan 2020 at 2:00pm
There is a lot more to last week?s decision by the U.K., France, and Germany to trigger the dispute resolution mechanism in the 2015 Joint Comprehensive Plan of Action (JCPOA) ?nuclear deal? with Iran than meets the eye. The countries ? three out of the total six states that formed the P5+1 group that signed the JCPOA (the others being the U.S., Russia, and China) ? are working in line with pressure from the U.S. ?either to force Iran back to the negotiating table on the JCPOA or to exponentially increase its?

U.S. Shale Must Get Ready For Energy Transition, Oil Banker Says
by Tsvetana Paraskova
23 Jan 2020 at 2:00pm
The heart of the U.S. oil industry, Houston, should be ready to position itself as a leader in the energy transition as climate change concerns will change the industry over the next years, Bobby Tudor, chairman of Tudor, Pickering, Holt & Co, said at the annual meeting of the Greater Houston Partnership civic group. Tudor, Pickering, Holt & Co has been one of the main financiers to the oil and gas industry in Houston. ?The Energy Industry has been very, very good to Houston,? Bobby Tudor said in his speech. ?

U.S. LNG Booms As Natural Gas Prices Crash
by Tsvetana Paraskova
23 Jan 2020 at 1:00pm
Despite the current oversupply and depressed natural gas prices all over the world, the global liquefied natural gas (LNG) market is set for further growth, at least into the middle of this decade, as suppliers sanction new projects and major buyers ramp up imports. Last year, Australia beat Qatar to become the world?s largest LNG exporter, in one of the milestones in the industry in 2019, IHS Markit said in a new report. Yet, Australia will likely keep that title for just a couple of years, before the United States becomes the world?s?

Exxon Prepares Sale Of UK, German Oil & Gas Assets
by Tsvetana Paraskova
23 Jan 2020 at 12:30pm
As part of its global program to sell assets, ExxonMobil is about to launch a process to sell its upstream oil and gas operations in the UK and Germany, Bloomberg reported on Thursday, quoting people familiar with the plans. The beginning of the sale process for Exxon?s UK assets is expected to be imminent, while the U.S. supermajor will start pitching its German assets to potential buyers after that, according to Bloomberg?s sources. For months, Exxon is reported to be lookingto sell its assets in the UK, which will?

The Electricity Grid Of The Future Is Being Built Here
by Alan Mammoser
23 Jan 2020 at 12:00pm
A Future Energy Summit in Abu Dhabi last week displayed the whole universe of systems and technologies that will be required for a post-carbon world. More than 100 providers of solar equipment and services had their wares on display, in addition to companies, utilities and organizations involved in wind, hydro, nuclear, biofuels, bio systems for carbon capture, and energy storage. Also present were investors and advisors on systems, grid management and transition planning. Much of what was on display is emergent and not close to full marketability.?

The Hottest Energy Conflict Right Now
by Viktor Katona
23 Jan 2020 at 11:00am
Belarus has just bought two cargoes of Johan Sverdrup, the recently commissioned Norwegian oilfield and is in talks with several oil-producing countries from the Soviet Union to ramp up crude imports in the upcoming weeks. This in and of itself might not seem such a big thing yet considering that Belarus in the past years was 100 percent reliant on Russian crude (and has barely purchased any in 2020), it marks an unexpected escalation of what initially seemed to a technical issue, a transit fee discrepancy, that should have been sorted on a professional?

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