UK lawmaker panel plots course to 2050 carbon neutrality
The UK’s electricity sector is ahead of the curve when it comes to cutting carbon emissions, but the country still needs to raise its renewables capacity four-fold by 2050 to Continue Reading
Oil falls on swelling U.S. stockpiles, but global markets tense
Oil prices fell on Wednesday after a report showed a rise in U.S. crude inventories, but global markets remained tense amid an intensifying political crisis in Venezuela, tightening U.S. sanctions Continue Reading
Surprise Crude Build Caps Oil Price Gains
The American Petroleum Institute (API) reported a surprise build in crude oil inventory of 6.81 million barrels for the week ending April 26, coming in over analyst expectations of a Continue Reading
Oil pares gains as fears ease on Venezuelan exports
Oil prices pared their gains on Tuesday, after global benchmark Brent crude rose above $73 a barrel, as the market grew less worried that a rebellion against Venezuelan President Nicolas Continue Reading
Transocean sees increase in offshore projects amid crude price rebound
Swiss driller Transocean’s customers are moving ahead with more offshore projects amid a rebound in crude oil prices and the continued improvement in offshore economics, company executives said Tuesday. Transocean Continue Reading
Overly Bullish Hedge Funds Set The Stage For Oil Price Drop
For more than ten weeks, portfolio managers have been consistently amassing bullish bets in the most important petroleum futures contracts, as market fundamentals were pointing to OPEC over-delivering on the Continue Reading
OPEC oil output hits four-year low in April on Iran, Venezuela: Reuters survey
OPEC oil supply hit a four-year low in April, a Reuters survey found, due to further involuntary declines in sanctions-hit Iran and Venezuela and output restraint by top exporter Saudi Continue Reading
India apprehensive Iran sanctions could boost oil, inflation
U.S. sanctions on Iran could boost oil prices and inflation to a point that hurts the common person in India, the country’s ambassador to the United States said on Tuesday Continue Reading
The Next Flashpoint In This Emerging Energy Hub
The Eastern Mediterranean is quickly turning into an energy hub due to the discovery of significant gas resources in recent years. Egypt, for example, has already started production at its Continue Reading
Asian Importers Step Up Iranian Oil Purchases Before Waivers End
The biggest oil importers in Asia collectively bought 1.57 million bpd of oil from Iran in March, a 36-percent surge over February, as buyers rushed to use up the U.S. Continue Reading