HUNTINGTON BEACH, Calif.—An oil sheen has been spotted about two nautical miles off the coast of Huntington Beach, more than two months after a large oil spill in the same area, and officials were working to determine its size and source on Dec. 16. Huntington Beach police reported it was about 20 yards by 150…
Oil Company Amplify Energy Accused of Negligence Over Massive Spill Off California Coast: DOJ
December 16, 2021
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Amplify energyCrime and IncidentsExecutive BranchJudiciaryLocal NewsOilPoliticsRegional-Local NewsSouthern CaliforniaUSUS News
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A federal grand jury has accused oil company Amplify Energy Corp. and two of its subsidiaries with negligently discharging oil during a pipeline break in California in early October. An indictment filed on Wednesday charges Houston-based Amplify and its subsidiaries, Beta Operating Co. and San Pedro Bay Pipeline Co., with one misdemeanor count of negligent discharge of oil. The…
Australia Could See Coal Retire Three Times Faster Than Anticipated
Analysis Australia’s accelerating transition to more renewable energy and commitment to reach net-zero emissions by 2050 could see coal power retire three times faster than originally expected. This is the determination made by the Australian Energy Market Operator (AEMO) under its future energy “step change” model, which it argues is the most likely scenario for…
Omicron Travel Restrictions Poised to Dent Oil Demand: IEA
New travel restrictions driven by a rise in COVID-19 infections is poised to slow the recovery in global oil demand, according to a new report from the International Energy Agency (IEA), which dropped its oil demand forecast by 100,000 barrels per day for the remainder of 2021 and all of 2022, mostly due to reduced…
Western Australia Needs New Gas to Address Impending Shortfall: Market Operator
Western Australia (WA) will need to start developing new sources of gas very soon to avoid a deficit in the next few years, Australia’s energy monitor has said. Meanwhile, similar concerns are brewing nationwide. The Australian Energy Market Operator’s (AEMO) annual gas outlook for WA has projected a gap in supply between 2025 and 2027,…
OPEC Remains Steady on Demand for Oil in 2022
December 13, 2021
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Business & EconomyBusinesses in COVID-19CCP ViruseconomyGold & CommoditiesOilOmicron variantOPECWorld
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OPEC said it believes that the Omicron variant will not have as much of an impact as widely feared on Dec. 13, leaving its forecast for global oil demand unchanged for the first quarter of 2022. “The impact of the new Omicron variant is expected to be mild and short-lived, as the world becomes better…
Oil Steady but Omicron Risks Weigh
December 13, 2021
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LONDON—Oil was steady on Monday, but new concerns about the Omicron coronavirus variant and doubts around the effectiveness of vaccines against it were weighing on prices. Brent was up 6 cents, or 0.1 percent, at $75.21 a barrel by 0947 GMT, and U.S. West Texas Intermediate (WTI) gained 9 cents, or 0.1 percent, to $71.76…
Oil Prices on Track for Biggest Weekly Gain Since August
December 10, 2021
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LONDON—Oil prices were on track for their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant’s impact on global economic growth and fuel demand. The Brent and WTI benchmarks were both on course for gains of more than 7 percent this week, their first weekly gain…
World Economy Entering Period of Oil Scarcity, Halliburton CEO Says
News Analysis Halliburton CEO and president Jeff Miller made waves on Monday predicting that the world is due for a period of oil scarcity in comments at the World Petroleum Congress in Houston, Texas. “I think that for the first time in a long time, we will see a buyer looking for a barrel of…
Oil Slips After Restrictions to Counter Omicron Variant
December 9, 2021
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AfricaAsia & PacificBusiness & EconomyBusinesses in COVID-19CCP VirusChinaCompanieseconomic policieseconomyEuropeGold & CommoditiesInternationalInvestmentLocal NewsMarket WatchMarketsMiddle EastOilOmicronRegional-Local NewsSpecial TopicsTexasUKUSUS NewsVaccines & SafetyWorld
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LONDON—Oil prices eased after early gains on Thursday after measures by some governments to slow the spread of the Omicron coronavirus variant, though losses were capped by comments from vaccine makers about the efficacy of their jabs. Brent crude futures fell 47 cents, or 0.6 percent, to $75.35 a barrel by 1004 GMT after touching…
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