Tesla plans to build a new industrial building with a yet unknown function next to its Gigafactory in Austin, Texas, Austin Business Journal reported, citing documents the electric vehicle maker had filed with the citys planners. Tesla filed the site plan for a still mysterious project, dubbed ...

https://oilprice.com/Energy/Energy-General/Tesla-Plans-New-Mystery-Facility-Near-Texas-Gigafactory.html

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OPEC is optimistic that accelerating vaccination programs and rising fuel demand will raise global oil demand by 5.95 million barrel per day (bpd) this year despite the current COVID crisis in India, the cartel said on Tuesday, keeping its demand outlook unchanged from last month. World oil demand ...

https://oilprice.com/Energy/Crude-Oil/OPEC-Continues-To-See-Strong-Oil-Demand-Recovery-In-2021.html

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The relationship between Australia and China has been going through a difficult period lately. Altercations surrounding the origins of COVID-19 rage on, all the while China has found ways to curb imports of Australian coal, oil and LNG to demonstrate that it would not refrain from weaponizing energy...

https://oilprice.com/Energy/Natural-Gas/Australian-LNG-Exports-To-China-Are-Bouncing-Back.html

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It is very hard to give up on ones own resource bounty and Australia knows it only too well. Endowed with the worlds third-largest coal reserves coupled with ample hydrocarbon plays in offshore deposits, many of which are still yet to be assessed and located, Australias energy transition to include ...

https://oilprice.com/Alternative-Energy/Wind-Power/Building-Australias-First-Ever-Offshore-Wind-Farm.html

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Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 this week, bringing the total rig count to 440. In the week prior, the U.S. oil and gas rig count decreased by 1. The total number of active oil and gas drilling rigs in the U.S. is now 32 more ...

https://oilprice.com/Energy/Energy-General/US-Rig-Count-Increases-To-440-Rigs.html

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A shortage of tanker truck drivers in the United States made headlines recently, sparking fears that Americans may face higher prices at the pump this driving season, just as traveland gasoline demandbegins to really recover. Yet not all agree there are good reasons for this fear. In an article for ...

https://oilprice.com/Energy/Energy-General/Gasoline-Prices-Set-To-Soar-This-Summer.html

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Deal activity in the oil and gas industry in the Middle East and Africa dropped by 32.92 percent in the first quarter of 2021 compared to the last four-quarter average, data and analytics company GlobalData said in a new report. As many as 27 deals worth US$4.81 billion were announced in the Middle ...

https://oilprice.com/Latest-Energy-News/World-News/Oil-Gas-Deals-In-Middle-East-And-Africa-Slump-By-33-In-Q1.html

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The global LNG market has witnessed a remarkable period of growth and expansion where the proliferation of liquefaction technology and the rise of renewables has had a positive effect on the sector. The Covid-19 pandemic, however, shook the global economy, disrupted economic activities, and hit the ...

https://oilprice.com/Energy/Natural-Gas/Can-US-LNG-Compete-In-An-Increasingly-Crowded-Market.html

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Higher oil prices this year are helping Saudi Arabia to reduce its budget deficit which soared with the oil price collapse last year. But the Kingdom and its de facto ruler, Crown Prince Mohammed bin Salman, need more than oil revenues to continue carrying out the ambitious Vision 2030 plan of ...

https://oilprice.com/Energy/Energy-General/The-Saudi-Aramco-Sale-Is-A-Key-Part-Of-Vision-2030.html

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Finally, after years of watching dubious short-sellers manipulate stocks and destroy companies, Canadian regulators are ready to do something about it, and unscrupulous short-sellers who have been living lives of obnoxious luxury paid for by ordinary shareholders have every reason to worry. The only...

https://oilprice.com/Energy/Energy-General/Is-This-The-Beginning-Of-The-End-Of-Naked-Short-Selling-In-Canada.html

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The starting point for all sound intelligence analysis of a particular action is to identify who gains from it and what it is that they gain. As the new tit-for-tat conflict between Israel and Palestine continues to escalate such analysis reveals the following: overall Palestine will gain nothing ...

https://oilprice.com/Geopolitics/Middle-East/Conflict-In-Gaza-Threatens-US-Middle-East-Strategy.html

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A massive $2.5-trillion infrastructure plan could send EV companies--and many of their tie-ins--to record new heights.And some investors are getting ready to pile in like never before as the green tidal wave prepares to reach tsunami proportions.Theyre already on the move and tie-in stocks, ...

https://oilprice.com/Energy/Energy-General/Bidens-25-Trillion-Infrastructure-Plan-Could-Send-These-EV-Stocks-Soaring.html

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For years, searching for potentially rewarding oil and gas stocks during the ongoing energy crisis has pretty much felt like dumpster diving. The energy sector has been deeply out of favor over the past few years, with the Covid-19 pandemic only serving to make an already bad situation much worse. ...

https://oilprice.com/Energy/Energy-General/3-Strong-Oil-And-Gas-Stocks-For-The-Summer.html

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President Biden is coming under fire for his attack on oil and gas once again as Canada pleads to keep the cross-border Great Lakes oil pipeline open. Canada is battling against the state of Michigan to keep the cross-border pipeline open as calls to enhance the joint response to climate change seem...

https://oilprice.com/Energy/Crude-Oil/Canada-Is-Battling-Another-Pipeline-Cancelation-By-The-US.html

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The National Tank Truck Carriers (NTTC) industry trade group warns that a worsening semi-truck driver shortage may spark higher fuel prices and gas shortages this summer. CNNreported that industry group said about a quarter of tanker trucks aren't on the road ahead of the busy summer driving season ...

https://oilprice.com/Energy/Energy-General/Shortage-Of-Tanker-Truck-Drivers-May-Lead-To-Higher-Gasoline-Prices-This-Summer.html

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Chart of the Week- Air travel is on the rise in the U.S., indicating an uptick in jet fuel demand.- Jet fuel demand has averaged 1.2 mb/d over the past four weeks, up 200,000 bpd from March levels.- In March, 1.2 million passengers passed through U.S. airports per day on average. That jumped to 1.4 ...

https://oilprice.com/Energy/Energy-General/Oil-Prices-Hit-7-Week-High-On-Demand-Optimism.html

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Californians pay for some of the most expensive electricity in the United States. They also live in one of the greenest states, at least from an energy perspective. California is only going to get greener. Meanwhile, electricity bills are expected to continue their rise. Some deny there is a link ...

https://oilprice.com/Alternative-Energy/Renewable-Energy/Why-Californians-Have-Sky-High-Electricity-Bills.html

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Oil prices dropped on Thursday morning, cutting short the rally to $70 a barrel after the worlds third-largest oil importer, India, reported a fresh record of new daily coronavirus cases. As of 11:17 a.m. EDT on Thursday, WTI Crude was down 0.96 percent at $64.99 and Brent Crude was trading down 0....

https://oilprice.com/Energy/Energy-General/Oil-Rally-Stalls-As-Indias-COVID-Crisis-Worsens.html

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The US shale industry is set to achieve a significant milestone in 2021: If WTI futures continue their strong run and average at $60 per barrel this year and natural gas and NGL prices remain steady, producers can expect a record-high hydrocarbon revenue of $195 billion before factoring in hedges, a...

https://oilprice.com/Energy/Energy-General/US-Shale-Pre-Hedge-Revenues-Set-To-Hit-All-Time-High-In-2021.html

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The American Petroleum Institute has called on the U.S. federal government to take note of Mexico's energy industry reforms as spearheaded by President Andres Manuel Lopez Obrador, saying recent changes to industry legislation are violations of Mexico's trade commitments and also that they undermine...

https://oilprice.com/Energy/Energy-General/Do-Mexicos-Energy-Reforms-Violate-Its-Trade-Commitments.html

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BHP has commenced oil production in Trinidad and Tobago in the next big energy development in the Caribbean. After recent successes in Guyana and Surinames energy sectors, Australian firm BHP has begun production on its $500m Ruby Project, located in shallow water in Block 3(a) within the Greater ...

https://oilprice.com/Energy/Energy-General/Could-Trinidad-And-Tobago-Become-A-Hotspot-For-Oil-In-The-Caribbean.html

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Texas lawmakers are circling the wagons. Politicians from the Lone Star state are preparing for an escalating war on oil and gas, the lifeblood of the Texan economy, and theyre determined not to go down without a fight. The Permian Basin has been in a bad way for years now. Even before the spread of...

https://oilprice.com/Energy/Energy-General/Texas-Lawmakers-Brace-For-A-War-On-The-Oil-Gas-Sector.html

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This is the type of story that investors only dream about. It all began about a year ago after a monster gold discovery was made..and then a savvy junior mining company scooped up the adjoining land plus one of the largest past-producing mines in Quebecs history, looking for a repeat discovery. But ...

https://oilprice.com/Metals/Gold/One-Junior-Miner-May-Have-Sparked-A-New-Gold-Rush-In-Canada.html

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Crude oil futures have rallied to their highest finish in months, with WTI price climbing above $65 for the first time in two months after OPEC+ stuck with plans to gradually ease production curbs, signaling confidence in the demand outlook. The optimism has coincided with a breakout season for the ...

https://oilprice.com/Energy/Energy-General/Big-Oil-Eyes-Wave-Of-Buybacks-After-Blowout-Earnings.html

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A cyberattack during the weekend caused the shutdown of the Colonial pipeline, which carries some 45 percent of the gasoline and diesel fuel the East Coast of the U.S. consumes, media have reported, noting that the attack could threaten the security of gasoline supply and push up prices. Gasoline ...

https://oilprice.com/Energy/Energy-General/Cyberattack-Shuts-Down-Major-US-Gasoline-Pipeline.html

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Retail Gasoline Nearing 7 Year High in U.S. on Major Shortage, Panic Buying U.S. Retail Gasoline Prices Near 7-Year High On Panic BuyingPanic Buying Sends U.S. Gasoline Prices To Near 7-Year HighPanic Buying Sends U.S. Gasoline Prices Soaring To Near 7-Year HighA Major Shortage Panic Buying Jolts U....

https://oilprice.com/Energy/Energy-General/Panic-Buying-Sends-US-Gasoline-Prices-To-Near-7-Year-High.html

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Following talks in Vienna this month, the U.S. could announce a deal with Iran as early as the end of May, which could lead to the lifting of oil and energy sanctions. Analysts are predicting a return to pre-pandemic oil production levels for Iran, around 3.9 million bpd, by 2022, assuming that the ...

https://oilprice.com/Energy/Energy-General/Irans-Return-To-Oil-Markets-Is-Imminent.html

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Last Friday, a cyberattack prompted the shutdown of the biggest piece of energy infrastructure in the United States, the Colonial Pipeline system that supplies almost half of the gasoline and diesel that the East Coast consumes. The attack naturally led to higher gasoline prices and a run on gas as ...

https://oilprice.com/Energy/Energy-General/Americas-Multi-Trillion-Dollar-Infrastructure-Security-Crisis.html

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Indias COVID travails have become the main talking point when it comes to Asian crude demand, once again pushing out the timeline of things finally settling down. China is gradually coming out of its planned maintenance, OPEC+ have already started to bring back part of the 2.1mbpd halted output that...

https://oilprice.com/Energy/Oil-Prices/Indias-Faltering-Oil-Demand-Sets-The-Tone-For-Middle-East-Producers.html

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Indian state-owned oil and gas producer Oil and Natural Gas Corporation Limited (ONGC) is told to sell its stake in the countrys oil fields as part of the Ministry of Petroleum and Natural Gas seven-point plan to boost production after a year of limited production. According to a Press Trust of ...

https://oilprice.com/Energy/Crude-Oil/What-Will-Privatization-Mean-For-Indias-Burgeoning-Oil-Industry.html

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