Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, will invest more than $2.3 billion to build its second battery cell manufacturing plant in the United Continue Reading
Two months after blackouts paralyzed Texas, most of the people who participate in the state’s 19-year-old electricity market, including producers, sellers and traders, share a similar view. The freeze wasn’t Continue Reading
President Biden is facing growing pressure from Congress as his administration wrestles with whether to use U.S. sanctions powers against Nord Stream 2, a Russian natural-gas pipeline project to Europe. Mr. Continue Reading
The OPEC+ alliance will gradually ease the collective production cuts between May and July, as the ministers agreed earlier this month, Russia’s Deputy Prime Minister Alexander Novak told reporters on Continue Reading
Highlights Russia has filled the gap left by US oil sanctions on Venezuela Bulk of imports include fuel oil products and feedstocks US refiners need Russian feedstocks to run secondary Continue Reading
Mercedes-Benz unveiled the EQS, the first all-electric luxury sedan from Mercedes-EQ. ( Earlier post .) The EQS is also the first model to be based on the modular architecture for Continue Reading
Due to the winter storms in February, net natural gas withdrawals from storage this heating season exceeded the five-year average by 10.6 percent, the Energy Information Administration (EIA) said on Continue Reading
The Volkswagen Group Components plant in Braunschweig is significantly expanding its production of battery systems for the latest electric vehicle generation. Following the first expansion stage with a maximum capacity Continue Reading
Under the name “Green Wilhelmshaven,” Germany-based international energy company Uniper plans to establish a German national hub for hydrogen in Wilhelmshaven and is working on a corresponding feasibility study. Plans Continue Reading
Crude oil futures were rangebound during mid-morning Asian trade April 16, as bullish sentiment, bolstered by signs of increasing US and Chinese economic activity, was tempered by the dire coronavirus Continue Reading
Oil edged higher at the end of a week in which prices have climbed on optimism the recovery in demand from the Covid-19 pandemic is improving. Futures in New York rose Continue Reading
Oil rose above $67 a barrel on Friday, gaining for a fifth session, as a stronger demand outlook and signs of economic recovery in China and the United States offset Continue Reading
Oil extended its climb out of a month-long trading range with further signs of an accelerating rebound taking shape in the U.S. Futures in New York inched up alongside a Continue Reading
Pioneer CEO Sees Oil Rising $5-$10 in Next Few Weeks Add Goldman Sachs Group Inc. to the list of forecasters calling for oil demand to peak sooner rather than later. Continue Reading
The U.S. oil industry faces a new oil price war if shale production rebounds next year by rising 1 million bpd compared to this year, Scott Sheffield, chief executive at Continue Reading
At a certain point in its lifecycle, every industry faces its moment of reckoning with growing pressure to transform due to factors such as increasing competition, changing consumer preferences, government Continue Reading
Efforts to identify and attribute global emissions will get a boost from satellites to be launched by a consortium including Carbon Mapper, the State of California, NASA’s Jet Propulsion Laboratory Continue Reading
Negotiators for the U.S. and Iran, working to revive an international deal aimed at restricting Tehran’s atomic ambitions, are looking for ways to untangle a knot of interlocking American sanctions Continue Reading
Iraq is in talks with US energy companies to find potential buyers for ExxonMobil’s 32.7% stake in West Qurna 1, the state-owned Iraqi News Agency reported citing an April 15 Continue Reading
Iran is warning that it doesn’t plan to let nuclear negotiations “drag on” and has threatened to cut talks short if they are “not constructive” . The fresh warning from Continue Reading
India envisages a bright future for hydrogen in the next 15-20 years, supplementing natural gas via blending in the grid and in compressed natural gas for vehicles, the president of Continue Reading
Guyana has estimated its future oil production at 1 million barrels per day by 2027, from seven floating production, storage, and offloading (FPSOs) vessels in country, according to natural resources Continue Reading
Japan has ambitious plans to be entirely carbon-neutral by 2050. Trouble is: It has no clear vision of how to get there. Japan’s nuclear industry was gutted by the 2011 Continue Reading
Coal-fired power stations are still a major part of China’s energy production China can save up to $1.6 trillion (£1.2 trillion) over 20 years by switching from coal power to Continue Reading
Demand, price spikes seen in Northeast Asia, US in Q1 Security of gas supply ‘never out of season’ ‘Time will tell’ if events lead to policy shifts Extreme weather in Continue Reading
China’s economic recovery quickened sharply in the first quarter to record growth of 18.3% from last year’s deep coronavirus slump, propelled by stronger demand at home and abroad and continued Continue Reading
A general view of the Xilutian coal mine in Fushun, Liaoning province, China June 26, 2018. REUTERS/Stringer China’s coal output rose 16% in the first quarter from the same period Continue Reading
China’s ever-expanding oil refining capacity will increase competition among crude processors around the world and weigh on their margins, the nation’s biggest energy producer said. Refining capacity will reach 900 Continue Reading
China’s economy surged 18.3% in the first quarter from a year earlier, a record rate of growth that reflected the recovery from a deep coronavirus-induced trough in early 2020 and the Continue Reading
China’s oil product exports are expected to rise by 31.7% year on year to around 54.7 million mt in 2021, as the recovery in the jet fuel market and an Continue Reading
An overwhelming amount of attention has been paid to the US tight oil industry’s financial wellbeing following the unprecedented Covid-19-induced downturn of 2020, while the aspect of operational efficiency gains Continue Reading
In the weeks after President Biden’s inauguration, as the oil industry was facing a far less welcoming White House, a ConocoPhillips executive went pheasant hunting with the Democratic senator poised Continue Reading
U.S. Jobless Claims Hit 13-Month Low, Retail Sales Surge Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Apple Podcast , Spotify or Continue Reading
. It didn’t take a heat wave or freak winter storm this time to raise the specter of rolling blackouts in Texas. All it took was a mild spring day. Continue Reading
A much-awaited economic boom coming off the pandemic recession appeared to edge closer to reality Thursday with fresh data showing the pace of layoffs dwindling, consumers spending freely and manufacturing Continue Reading
Easing coronavirus lockdowns tied to the rapid rollout of Covid-19 vaccinations in the US has helped spark a sharp increase in American consumer spending and the lowest new jobless claims Continue Reading
The Biden administration on Thursday barred American banks from purchasing newly issued Russian government debt, signaling the deployment of a key weapon in Washington’s intensifying conflict with Moscow — threatening Continue Reading
The pandemic now looks very different depending on where you are in the United States. While some states have seen the crisis start to dissipate, a spring wave of coronavirus infections Continue Reading
Just a few short years ago, the United States was producing more shale oil than ever , pumping as much and as quickly as they could to keep up with Continue Reading
A vital source of funding for the US oil sector is drying up as private investors retreat, prompting stricken operators to make “last gasp” efforts to boost production and cash Continue Reading
The coronavirus pandemic in the United States has turned into a patchwork of regional hotspots, with some states hammered by a surge of infections and hospitalizations even as others have Continue Reading
Highlights Delta to reopen middle seats on May 1 75% load factor seen in May Working to decarbonize footprint across operations Delta Air Lines, the nation’s second largest airline, saw Continue Reading
Natural gas injected into US underground storage fields the week ended April 9 dwarfed the five-year average once again, but the Henry Hub summer strip gained some ground while the Continue Reading
Highlights Oil drilling accounts for nationwide gain Permian teeter-totters, adding 1 rig for 236 Private E&Ps pick up 7 rigs in week The US oil and gas rig count leaped Continue Reading
Weekly US coal production rose to a four-week high 11.19 million st in the week that ended April 10, up 4.3% from 10.73 million st a week earlier and 17.7% Continue Reading
The Biden administration is considering singling out methane for significant reductions as part of a pledge to cut greenhouse gases in advance of a climate summit next week, according to Continue Reading
Pfizer Inc. PFE 1.16% Chief Executive Albert Bourla said it is likely that people who receive Covid-19 vaccines will need booster shots within a year afterward, and then annual vaccinations, to maintain protection against Continue Reading
The Biden administration on Thursday announced tough new sanctions on Russia and formally blamed the country’s premier intelligence agency for the sophisticated hacking operation that breached American government agencies and Continue Reading
Shell expects to have produced 75 percent of its current proved oil and gas reserves by 2030, and only around 3 percent after 2040, the supermajor said in its Energy Continue Reading
According to Russia’s Ministry of Energy, the country is unlikely to return to pre-pandemic oil production levels. Prior to the pandemic, Russia was producing 560 million tonnes of oil , Continue Reading
