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  • North Dakota Oil Pipeline Prevails Over Environmentalists
    by Julianne Geiger on 2021-04-09 at 22:30

    The Dakota Access Pipeline will not be ordered to shut down while pending review, government lawyers told U.S. District Judge Brian Boasberg on Friday, much to the ire of environmentalists who have long called for the pipeline to be shut down. According to Ben Shifman, a Justice Department Attorney, the government is still reserving the right to shut down the pipeline at any time during the environmental review by the Army Corps of Engineers. That review is not expected to be complete until this time next year. For DAPL, that’s a lot of uncertainty.…

  • Iran Says It Will Return To Nuclear Compliance After U.S. Lifts Oil Sanctions
    by Julianne Geiger on 2021-04-09 at 21:30

    Iran insists that it will only start complying with its obligations under the nuclear deal after the United States removes all the sanctions on the Islamic Republic, Iran’s Supreme Leader, Ayatollah Ali Khamenei, said. World powers, including the United States, started talking about the deal in Vienna this week. “Iran will return to its JCOPA obligations once the US fully lifts its sanctions in action and not in words or on paper, and once Iran verifies the sanction relief,” Iran Press News Agency reported, citing the Ayatollah…

  • China Sets World Record For Deep-Sea Drilling In Disputed South China Sea
    by Tsvetana Paraskova on 2021-04-09 at 19:30

    China has set a world record for deep-sea drilling in the South China Sea, Chinese state media reported, while tensions in the disputed area are rising. According to the Xinhua news agency, Chinese scientists aboard a marine research vessel drilled on Wednesday 2,060 meters (6758 feet) under the seabed to obtain a sediment core. China’s drilling system Sea Bull II is the world’s only seabed drilling equipment with a drilling capacity of more than 200 meters (656 feet), and it could help the country to explore natural gas hydrate resources,…

  • Oil Prices Post Weekly Loss On Covid Concerns
    by Tom Kool on 2021-04-09 at 19:00

    Oil prices are set to post a loss this week as demand fears and Covid lockdowns counteract optimism over a tightening market.For more great energy content, make sure you subscribe to the Oilprice youtube channel for breaking news and analysis.Friday, April 9th, 2021Oil prices are set to post a loss this week, following several days of up-and-down trading. The story is the same – a jockeying between market tightness and concerns about demand amid spreading Covid cases and lockdown measures. Biden admin to decide DAPL’s fate. The…

  • Russia: Pandemic Could Continue Affecting Oil Demand Until 2024
    by Tsvetana Paraskova on 2021-04-09 at 18:00

    The pandemic could continue to impact global oil demand until 2024, while the decarbonization plans in major European economies could arise as a new threat to Russia’s oil industry, according to a draft document of Russia’s government seen by Reuters. According to the estimates in the document about the prospects of Russia’s oil industry through 2035, global oil demand could continue to suffer through 2023 or 2024. This year, global oil demand is expected to rise by 5.9 million barrels per day (bpd) compared to last year’s…

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