By Jonathan Tirone and Brian Parkin Nov 24, 2020 (Bloomberg) Angela Merkel’s district on the Baltic coast was the site of the last major Soviet military project in communist East Germany and is now at the center of a deepening rift between Cold War allies. Once a critical linchpin in the Soviet Union’s power network, the … Read more Joe Biden Is Unlikely to Save Angela Merkel’s Pet Project

By Saket Sundria and Alex Longley Nov 25, 2020 (Bloomberg) Oil extended gains, trading at its highest level since March, on mounting optimism that recent breakthroughs on a Covid-19 vaccine will lead to a swift recovery in global energy demand next year.Futures in New York rose 1.2% to trade above $45 a barrel. That followed a … Read more Oil Advances From Eight-Month High on Demand Optimism

By John Kemp LONDON (Reuters) – The U.S. Commodity Futures Trading Commission (CFTC) report on volatility in WTI oil futures, published on Monday, has already been criticized for not probing deeply enough into how and why prices plunged into negative territory for one day in April and then rebounded sharply the next day. For at … Read more COMMENTARY: Left in the dark about WTI crude price plunge – Kemp

By Jennifer A Dlouhy Nov 24, 2020 (Bloomberg) The Trump administration is racing against legal deadlines and a merciless regulatory calendar in its last-ditch effort to sell drilling rights in the Arctic National Wildlife Refuge before President-elect Joe Biden is sworn in at noon on Jan. 20. Even if the White House succeeds in clearing those … Read more These Days, the Smart Money Is Staying Away From Arctic Drilling

NEW YORK (Reuters) – A U.S. regulator on Monday issued a report detailing events that led up to U.S. crude futures’ historic collapse into negative territory in April, but did not delve into the actions by individuals or firms that may have profited on the day. Benchmark U.S. crude futures plunged below zero for the … Read more U.S. regulator issues report on negative oil prices

HOUSTON (Reuters) – Royal Dutch Shell PLC may begin the permanent shutdown of its 211,146 barrel-per-day Convent, Louisiana, refinery early next week, people familiar with plant operations said on Monday. Shell announced on Nov. 5 the refinery, located 57 miles (92 km) west of New Orleans, was to close after the company failed to find … Read more Shell may permanently shut Louisiana refinery next week: sources

NEW YORK (Reuters) – In remote northern Michigan a propane shortage in early 2014 caused prices to nearly double, squeezing about half of the families there who rely on the fossil fuel to heat their homes. Glenda Bowler remembers her son fitting a wood stove at his restaurant as an alternative to propane, which reaches … Read more Pipe dreams leave U.S. energy firms caught in climate trap

By John Kemp LONDON (Reuters) – Hedge funds started to become more bullish on the outlook for oil last week amid rising hopes a successful coronavirus vaccination program will enable the early resumption of business activity and air travel. Hedge funds and other money managers purchased the equivalent of 69 million barrels in the six … Read more Oil sees wave of fund buying on early COVID immunisation hope: Kemp

By Valerie Volcovici, Nichola Groom WASHINGTON (Reuters) – President Donald Trump’s last-minute push to allow drilling in a pristine part of Alaska’s Arctic will be an early target for the next administration, according to Senator Tom Udall, a contender to lead the Interior Department under Joe Biden. The New Mexico Democrat was speaking of the Trump … Read more Interior Department contender says Biden would target Trump Arctic drilling push on first day

By Reuters Staff DENVER (Reuters) – Oil supply and demand, hard hit by the COVID-19 pandemic, will not come back into balance until the second half of 2021, WPX Energy WPX.N CEO Rick Muncrief forecast on Friday at a Federal Reserve Energy Conference. Prices could see some uplift in the second half of the coming year as … Read more WPX Energy sees oil supply and demand balancing in second half of 2021

By Christine Buurma and Sergio Chapa (Bloomberg) Winter hasn’t begun yet, but the bullish trade in U.S. natural gas is already starting to fall apart.Gas futures tumbled Thursday as U.S. forecasts shifted warmer through early December, leaving bullish traders flat-footed after the previous day’s modest gain stoked speculation that the recent rout had run out of … Read more Natural Gas Bull Case Starts to Unravel on Demand-Killing Warmth

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON (Reuters) – U.S. petroleum inventories are falling towards more normal levels as the glut earlier this year caused by volume warfare among OPEC+ members and the first wave of epidemic-driven lockdowns is gradually absorbed. Falling inventories are likely to herald a … Read more Oil prices anticipate tight market by mid-2021: Kemp

By Scott DiSavino (Reuters) – The U.S. Fourth Circuit Court of Appeals rejected a motion to stay a permit for the $5.8-$6.0 billion Mountain Valley natural gas pipeline from West Virginia to Virginia Analysts said that court decision on Wednesday – not to stay the pipeline’s Biological Opinion – increases the odds Equitrans Midstream Corp … Read more U.S. court allows Equitrans to keep building Mountain Valley natgas pipe

By Reuters Staff (Reuters) – The Trump administration on Thursday proposed to loosen Obama-era safety regulations for the oil industry in the Arctic Ocean off Alaska to ease the way for petroleum extraction in the region, an effort that President-elect Joe Biden will likely throw out once in office. The proposal would revise a suite … Read more U.S. moves to loosen safety rules for Arctic Ocean oil drilling

By Tommy Wilkes, Ritvik Carvalho LONDON (Reuters) – Investors are pouring money into green funds, banking on a Joe Biden presidency in the United States for a further boost to the renewable and alternative energy industry at the expense of traditional oil and gas businesses. Shares in solar and wind energy businesses, electric vehicle companies and … Read more Green is the new black in boom for clean energy funds

By Rod Nickel WINNIPEG, Manitoba (Reuters) – TC Energy Corp TRP.TO says it is continuing to advance its Keystone XL (KXL) oil pipeline, the $9 billion project that would move oil from the province of Alberta to Nebraska. Most recently, a Canadian indigenous group said it would invest C$1 billion ($764.35 million) in the project, which has … Read more What is happening with the Keystone XL oil pipeline?

If approved, the deal would revive plans to remove four massive hydroelectric dams on the lower Klamath River, creating the foundation for the most ambitious salmon restoration effort in history. The project on California’s second-largest river would be at the vanguard of a trend toward dam demolitions in the U.S. as the structures age and … Read more Historic deal revives plan for largest US dam demolition

By Scott Deveau Nov 17, 2020 (Bloomberg) Activist investor Kimmeridge Energy Management Co. has built new positions in Ovintiv Inc., PDC Energy Inc., and Cimarex Energy Co. and plans to push for changes at the oil and gas companies to improve their performance and governance. The New York-based investor considers Ovintiv, formerly known as Encana Corp., … Read more Ovintiv Criticized by Activist Over ‘Excessive’ Pay

By Mark Chediak  Nov 18, 2020 (Bloomberg) California’s largest utility, PG&E Corp., named Patricia K. Poppe as its new chief executive officer to lead the energy giant as it struggles to regain public trust after its equipment sparked deadly wildfires that drove the company into bankruptcy last year. Poppe, who currently runs Michigan-based CMS Energy Corp., … Read more PG&E Names New CEO After Emerging From Historic Bankruptcy

By Elizabeth Low and Grant Smith  Nov 18, 2020 (Bloomberg) Oil rose on expectations that further progress in vaccines against the coronavirus will revive global demand, and amid signs of robust consumption in Asia.Brent futures advanced 1.4% as Pfizer Inc. said a final analysis of clinical-trial data indicated its Covid-19 vaccine was 95% effective. The overall price structure … Read more Oil Rises on Further Vaccine Progress, Stronger Asian Demand

By Nichola Groom (Reuters) – The Trump administration on Wednesday will offer all available areas in the Gulf of Mexico for auction to oil and gas companies in its final offshore sale before the January inauguration of President-elect Joe Biden, a Democrat who has pledged to ban new drilling on federal lands and waters. The … Read more Final U.S. offshore oil auction under Trump will test industry demand

By Michael Erman, Julie Steenhuysen (Reuters) – Just as the novel coronavirus was gaining a foothold in the United States in mid-March, Pfizer Inc Chief Executive Albert Bourla called on his top vaccine scientists and laid out a clear mission: “He basically said, ‘Your mandate is to get this vaccine made. And if you need resources, … Read more How two companies sprinted ahead in extraordinary race for a COVID vaccine

By Reuters Staff WASHINGTON (Reuters) – The U.S. Treasury Department on Tuesday issued a new license to Chevron Corp, the last major U.S. oil company still operating in Venezuela, giving it until June 3 to wind down its joint ventures in the OPEC member nation. The United States last year imposed sanctions barring imports of … Read more U.S. Treasury Department gives Chevron new license to wind down Venezuela activities by June 3

By Reuters Staff (Reuters) – The Trump administration on Monday issued a request to energy companies to identify what specific land areas in the Arctic National Wildlife Refuge should be offered for sale, according to a government document. The Department of Interior said the nominations and any comments on the land tracts must be received … Read more U.S. asks oil companies to nominate drilling parcels in Alaska refuge

By Reuters Staff HOUSTON (Reuters) – BP Plc BP.L notified officials in Chicago and the state of Illinois of possible layoffs affecting more than 250 salaried employees at the company’s offices, BP said in a statement. BP is also reviewing the organizational structure at its Whiting, Indiana, oil refinery 28 miles (45 km) southeast of Chicago. BP’s … Read more BP files notices of possible worker layoffs in Chicago area

By Jennifer Epstein Nov 15, 2020 (Bloomberg) President-elect Joe Biden and Vice President-elect Kamala Harris will speak Monday on their plans for a post-Covid economic recovery and longer-term growth, their transition team said Sunday. The remarks, tentatively scheduled for 1:45 p.m. New York time, will be the pair’s first extended discussion of the economy since winning … Read more Biden, Harris to Make Remarks on Economic Recovery Monday

By Jennifer A. Dlouhy Nov 16, 2020 (Bloomberg) –The Trump administration is rushing to issue permits, finalize major environmental regulations and even sell the rights to drill for oil in Alaskan wilderness before Inauguration Day in a push that could complicate Joe Biden’s climate and conservation agenda. The 11th-hour regulatory race underscores the extent to which federal … Read more Trump Rushes Environmental Regulations That Could Handcuff Biden

NEW YORK (Reuters) – Environmental groups are appealing a decision made last month by Illinois regulators to allow the expansion of the Dakota Access oil pipeline (DAPL), according to documents filed with the state on Friday. The Illinois Commerce Commission last month voted to approve an application to roughly double the capacity of Energy Transfer … Read more Environmental groups appeal Illinois order allowing Dakota pipeline expansion

(Reuters) – A federal court judge on Friday for the second time in two years blocked drilling on more than 300,000 acres in Wyoming because the government failed to adequately consider its impact on climate change. According to court papers, Judge Ralph Contreras of the U.S. District Court for the District of Columbia ordered that … Read more U.S. judge again blocks Wyoming oil drilling over agency climate analysis

By Andres Guerra Luz Nov 13, 2020 (Bloomberg) Oil declined for a second session as rising Covid-19 cases threatened to derail demand with tougher restrictions in major U.S. cities on the horizon. Futures fell 2.4% in New York on Friday, but still posted the largest weekly gain in a month as optimism from news of a … Read more Oil Pares Weekly Gain as Viral Surge Overshadows Vaccine Promise

By Ari Natter Nov 12, 2020 (Bloomberg) A former Google executive who previously led an Energy Department unit that funded research into experimental power projects is among the front-runners to lead the agency under President-elect Joe Biden, according to two people familiar with the matter. Arun Majumdar, a Stanford University engineering professor who was named Tuesday … Read more Ex-Google Official From Stanford Seen as Biden’s Top Energy Pick

By Gerson Freitas Jr. Nov 12, 2020 (Bloomberg) The price to drill an acre of land in the biggest U.S. shale basin has tumbled amid the oil rout, creating conditions ripe for more mergers and acquisitions. Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals, … Read more Renting a Slice of U.S. Oil’s Hot Spot Is 70% Cheaper After Rout

By Alex Longley Nov 13, 2020 (Bloomberg) Oil fell for a second day — dropping below $41 a barrel in New York — as the ongoing spread of coronavirus dampens the demand outlook.As well as the surge in European coronavirus cases, there are also growing numbers in the U.S., Japan and South Korea, all of which … Read more Oil Falls Below $41 With Surging Covid Cases Menacing Demand

By Jordan Fabian, Jennifer A. Dlouhy, Alan Levin and Ben Bain Nov 12, 2020 (Bloomberg) President-elect Joe Biden has stocked his transition team with policy experts, academics and former Obama administration officials, a contrast with the industry-friendly figures President Donald Trump sent into the government upon winning office.The roughly 500-person group Biden’s campaign announced on Monday will prepare … Read more Biden’s Transition Teams Sideline Industries Trump Put in Charge

By Grant Smith Nov 12, 2020 (Bloomberg) The International Energy Agency cut forecasts for global oil demand amid new lockdown measures and cautioned that the vaccine breakthrough won’t quickly revive markets.While crude prices rallied to a 10-week high above $45 in London this week on news of Pfizer Inc.’s progress, fuel use won’t experience any “significant” … Read more IEA Cuts Oil-Demand Outlook as Vaccines Won’t Rescue Market

By Jess Shankleman and Alberto Nardelli Nov 12, 2020 (Bloomberg) Boris Johnson was given a friendly warning over the risks of Brexit by Joe Biden during a 25-minute phone-call on Tuesday afternoon. But there was at least one bright spot in that first conversation with the incoming American president: a shared goal to tackle climate change.The … Read more Climate Crisis Is Boris Johnson’s Chance to Woo Joe Biden

By Kevin Crowley  Nov 11, 2020 (Bloomberg) Occidental Petroleum Corp. became the first major U.S. oil producer to aim for net zero emissions from everything it extracts and sells, accelerating an industry trend that’s become commonplace in Europe.The Houston-based company announced a target to reach net zero emissions from its own operations by 2040 and an … Read more Occidental Is First U.S. Oil Major to Target Net Zero Emissions

By Tim Quinson Updated on Nov 11, 2020 (Bloomberg) Just five of the 39 largest oil and gas companies have announced carbon-reduction targets that match levels needed to avoid a 2-degree Celsius temperature increase. And only 20 have taken initial steps to disclose how they plan to lower emissions produced by both their operations and electricity use, known respectively as … Read more Big Oil Has a Long Way to Go on Setting Emissions Targets

By John Kemp (John Kemp is a Reuters market analyst. The views expressed are his own) LONDON (Reuters) – Coronavirus vaccines are expected to boost international passenger transportation and oil consumption, but the first significant impact will not be felt until well into the second half of 2021, based on futures price movements on Monday. … Read more COMMENTARY: Successful vaccine would boost oil consumption, but not for 6-12 months: Kemp

By Stephanie Kelly, Laura Sanicola NEW YORK, (Reuters) – Renewable fuels are a niche market for now, but with Democratic President-Elect Joe Biden set to enter office with a divided Congress, legislation supporting demand for products like renewable diesel could garner bipartisan support. Biden, elected president last week, defeating Republican Donald Trump, has pledged to move … Read more U.S. renewable fuels legislation could garner bipartisan support under Biden

By Laura Sanicola (Reuters) – U.S. refining stocks soared on Monday after pharmaceutical company Pfizer PFE.N said it had developed a vaccine that was more than 90% effective in preventing COVID-19. Fuel demand has been hit hard by the coronavirus, which has killed more than a million people worldwide and infected 50 million. In the United … Read more U.S. refining shares soar on vaccine news, hopes for renewed fuel demand

By Irina Vilcu, Slav Okov and Andra Timu  Nov 9, 2020 (Bloomberg) The former Cold War frontier of eastern Europe is becoming a battleground in the $500 billion business of building nuclear power plants. Four months after lifting a prohibition on financing nuclear-energy deals overseas, the U.S. is finding an opening for companies such as General Electric Co., … Read more U.S. Goes Nuclear to Compete With Russia, China in Europe’s East

By Scott DiSavino (Reuters) – U.S. energy firms this week added oil and natural gas rigs for an eighth week in a row for the first time since June 2018 as producers keep returning to the wellpad after crude prices held around $40 a barrel from mid June-late October. The oil and gas rig count, … Read more U.S. drillers add oil and gas rigs for eighth week -Baker Hughes

By Will Wade and Jess Shankleman Nov 9, 2020 (Bloomberg) President-elect Joe Biden plans to push for the most progressive climate policy the U.S. has ever had, aligning the world’s second-largest carbon emitter with a growing group of nations aggressively tackling global warming. Biden has promised to rejoin the landmark Paris climate agreement on his first day in office, … Read more U.S. Climate Reversal Will See Biden Join World’s Green Momentum

By David Wethe and Michael Bellusci Nov 6, 2020 (Bloomberg) When Devon Energy Corp. agreed to acquire WPX Energy Inc. in September for $2.56 billion, it was the latest U.S. shale merger to be done with little or no takeover premium, something that’s become more common in the beleaguered oil industry over the past year.However, in … Read more Shale Driller WPX Rejected 43% Takeover Premium for One at 2.6%

By Ksenia Galouchko Nov 6, 2020 (Bloomberg) With Joe Biden on a path to winning the U.S. presidency but control of the Senate still up in the air, investors in European stocks have been forced to review their outlook for some key industries.Market players had spent months positioning for post-election outperformance in European renewable-energy and cyclical … Read more Biden Win With Undecided Senate Flips European Market’s Outlook

By Naureen S. Malik Nov 6, 2020 (Bloomberg) President Donald Trump demoted the top U.S. energy regulator as his prospects to secure a second presidential term dimmed.The White House replaced Neil Chatterjee as chairman of the Federal Energy Regulatory Commission, a position he’s held for past two years. Fellow Republican Commissioner James Danly will now lead … Read more Trump Demotes Top Energy Regulator as Re-Election Hopes Dim

By Barbara Powell  Nov 5, 2020 (Bloomberg) Royal Dutch Shell Plc will begin shutting its Convent refinery in south Louisiana mid-month while it continues to seek a buyer for the facility, part of a plan to reduce its global sites and focus on combined oil refining and chemical plants. With global demand and profits stung by … Read more Shell to Shut Louisiana Refinery After Failing to Find a Buyer

By Gernot Wagner Nov 6, 2020 (Bloomberg) If there’s one thing working on climate for a living teaches you, it’s coping with uncertainty. If there are two, it’s how politics seemingly trumps all else. Welcome to the wondrous world of climate politics. On Friday morning, votes were still being counted, leaving Democratic candidate Joe Biden on the … Read more What Biden Can Really Do on Climate, Even Without the Senate

By Carlos Caminada and Sergio Chapa Nov 6, 2020 (Bloomberg) Enbridge Inc. became the largest company in the North American oil industry to set a goal of eliminating all net emissions from its operations by 2050, joining major European producers in providing climate-conscious investors with a plan to tackle global warming.The pipeline giant also established an … Read more Pipeline Giant Enbridge Joins Shell, BP With 2050 Emissions Goal

NEW YORK (Reuters) – Genesis Energy LP GEL.N said it expects to lose as much as $50 million this year due to a battery of storms that hit the U.S. Gulf of Mexico and forced lengthy offshore oil and gas production shut-ins, Chief Executive Grant Sims told investors on Thursday. In a typical year, storms would … Read more Genesis Energy expects up to $50 million in losses due to storms: CEO

By Will Wade and Jess Shankleman Nov 4, 2020 (Bloomberg) The U.S. has officially become the first nation to quit the Paris climate agreement, even as the outcome of the country’s presidential race remains undetermined.President Donald Trump, who’s fighting for re-election, moved to withdraw from the landmark environmental accord exactly one year ago, abandoning a global effort to curb carbon … Read more U.S. Exits Paris Climate Pact With Election Outcome Uncertain

By Kevin Crowley and Sergio Chapa Nov 4, 2020 (Bloomberg) Republican Jim Wright was elected as one of three powerful commissioners at Texas’s oil and gas regulator, ending a high-profile battle that had been called “the most important environmental race in the country,” by his Democratic opponent, Chrysta Castañeda.Wright was ahead in the vote count overnight, … Read more Republican Insurgent Wright Wins Texas Oil Regulator Post

By Reuters Staff (Reuters) – U.S. crude oil stocks fell sharply last week while gasoline inventories rose, data from industry group the American Petroleum Institute showed on Tuesday. Crude inventories fell by 8 million barrels in the week to Oct. 30 to about 487 million barrels, compared with analysts’ expectations in a Reuters poll for … Read more U.S. crude stocks drop sharply in latest week: API

By Noah Browning LONDON (Reuters) – Oil prices rose nearly 3% on Wednesday after President Donald Trump falsely claimed victory in a tight U.S. election with millions of votes still to be counted and the final result not yet clear. A victory by Trump is viewed as bullish for oil because of sanctions on Iran … Read more Oil rises after Trump falsely claims victory in tight U.S. election