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US crude oil shipments to China will rise sharply in coming weeks, US traders and ship brokers and Chinese importers said, as the world’s top economies gear up to review a January deal after a prolonged trade war. Chinese state-owned oil firms have tentatively booked tankers to carry at least …
Read More »US-China Trade Review Delayed as Beijing Lifts Farm, Oil Spending
The US and China have delayed a review of their Phase 1 trade deal initially slated for Saturday, sources familiar with the plans told Reuters, citing scheduling conflicts and the need to allow time for more Chinese purchases of US exports. No new date for the initial six-month compliance review …
Read More »Masdar Acquires More of the US Renewable Market
The projects are expected to remove more than three million tonnes of carbon dioxide annually.
Read More »Iran’s Active Diplomacy Defeats US yet Again
Iranian Foreign Ministry Spokesman Abbas Mousavi reacted to the US historic failure against Iran and said Iran’s active diplomacy together with the legal strength of its nuclear deal led to the US defeat for the nth time. During the 75-year-old history of the United Nations, it was unprecedented for the …
Read More »Baker Hughes: US Oil & Gas Rig Count Falls to Record Low for 15th Week
US energy firms cut the number of oil and natural gas rigs operating to a record low for a 15th week even as higher oil prices prompt some producers to start drilling again. The US oil and gas rig count, an early indicator of future output, fell by three to …
Read More »Qatar’s First Storage Project Relies on Tesla Batteries
The Qatar General Electricity and Water Corp (Kahramaa) has installed a 1 MW/4 MWh storage system at its 11 kV Nuaija station. The facility, built in partnership with Qatari conglomerate Al-Attiyah Group and US electric car maker and battery provider Tesla, is intended to store power during peak hours or …
Read More »Big Oil has Spent Nearly a Million Dollars on Trump’s Reelection
The US oil industry appears to be backing Trump over Biden for reelection in 2020, having donated nearly $1 million to his campaign compared to only $265,000 for Biden’s campaign. According to the data, as of August 2020, President Trump has received $936,155 in contributions from the oil and gas …
Read More »US Sends Oil Shipment to Saudi Arabia
The United States sent a shipment of crude to Saudi Arabia in June, data from the US Census Bureau showed yesterday, in what appears to be the first such delivery since the US ban on crude exports ended in 2015, Reuters reported. The United States shipped about 550,000 barrels, or …
Read More »GE Using Supercomputer to Study Offshore Wind
The U.S. Department of Energy (DOE) has granted GE Research access to a supercomputer for research aimed at accelerating new advancements in offshore wind. GE engineers have been granted access to the Summit supercomputer at Oak Ridge National Laboratory (ORNL) in Tennessee, through DOE’s competitive ALCC (Advanced Scientific Computing Research …
Read More »US Crude Oil Inventories Post Sharp Fall
US commercial crude oil inventories decreased last week in line with the market expectation, according to data released by the country’s Energy Information Administration (EIA) on Thursday. Commercial crude oil inventories in the US fell by 7.4 million barrels, or 1.4%, to 518.6 million barrels for the week ending July …
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