Germany has gathered support from four European Union countries around its opposition to classifying nuclear energy as “green” and sustainable for investment purposes, a letter to the Commission seen by Continue Reading
Countries across Europe are scrambling to accelerate coronavirus vaccinations and outpace the spread of the more infectious delta variant, in a high-stakes race to prevent hospital wards from filling up Continue Reading
OPEC+ Oil Deal Hangs in the Balance Oil held Thursday’s gain after infighting within OPEC+ delayed a much-anticipated decision on raising output levels, risking an inflationary spike in prices if Continue Reading
Oil prices edged lower on Friday after OPEC+ ministers delayed their output policy meeting, with sources saying the United Arab Emirates had balked at plans to return 2 million barrels Continue Reading
Highlights OPEC+ August output could rise just 400,000 b/d Monitoring committee adjourns without recommendation Brent-WTI spread narrowest since Oct 2020 Crude futures settled higher July 1 after a smaller-than-expected bump Continue Reading
Extreme temperatures in China coupled with a lack of hydro-power forced blackouts in some of its largest industrial cities last month. A rare and short-lived subtropical storm popped up in Continue Reading
The fast spread of the Delta variant of the coronavirus in much of the world is thwarting plans in many countries to lift lockdowns and reopen economies, a major setback to Continue Reading
Last August, scientists aboard an icebreaker that had been drifting with the ice across the Arctic Ocean in a yearlong research expedition decided to take a detour to the North Continue Reading
The OPEC+ alliance fell into bitter infighting after a key member blocked a deal at the last minute, casting doubt on the group’s ability to reach an agreement to ease Continue Reading
Highlights Saudi Arabia seeking flexibility if Iran nuclear deal reached OPEC meeting in progress, Russia and other allies to join later Ministers also considering extending supply pact to end-2022 OPEC Continue Reading
An OPEC+ deal to release more oil to the market and extend its supply management policy to the end of 2022 hinges on agreement from the United Arab Emirates (UAE), Continue Reading
Iran has been restricting U.N. nuclear inspectors’ access to its main uranium enrichment plant at Natanz, citing security concerns after what it says was an attack on the site by Continue Reading
Highlights Iraq’s quota rose in June to 3.954 million b/d Quota to rise further to 4.016 million b/d in July Iraq is OPEC’s second-biggest producer Iraq’s federal oil exports, excluding Continue Reading
Iraq’s top tax authority has ordered government departments to stop issuing visas and halt imports for nearly two dozen international energy companies whom it accuses of late tax payments. If Continue Reading
The variant-driven coronavirus outbreak that public health officials across Africa had warned about for months is underway — and it’s happening without the urgently needed ramping up of the continent’s access Continue Reading
Angola owes foreign oil field operators some $1 billion, Reuters has reported , citing unnamed sources, adding this level of debt had forced the country to put up stakes for Continue Reading
India’s official coronavirus death toll crossed the 400,000 mark, as the nation continued to grapple with the fallout of a devastating spring surge in cases, an outbreak that was driven Continue Reading
Venezuela is preparing to once again lop off zeroes from the national currency in an attempt to simplify daily transactions which sometimes barely fit on a calculator or require swiping Continue Reading
Venezuela’s oil exports inched higher in June, boosted by cargoes to Asia and expanded sales of upgraded crude, data from state-run oil firm PDVSA and tanker monitoring showed, as the Continue Reading
The vast majority of new coal-power plants being planned will struggle to make back their upfront costs, including all of those under construction in China, according to a new report Continue Reading
The highly contagious Delta variant of the coronavirus is surging through Asia this week, with record numbers of infections in Australia and South Korea, prompting some countries to tighten curbs Continue Reading
Chevron Corp (CVX.N) and its partners in the Gorgon LNG project off Western Australia have agreed to go ahead with a $4 billion project to improve gas recovery from offshore Continue Reading
Asian spot liquefied natural gas (LNG) prices spiked to a fresh eight-year seasonal high this week, as demand remained robust globally for power generation needs in summer. The average LNG Continue Reading
Oil companies are betting that if they sell land, buyers will come, as crude prices have soared more than 50% this year, fueling the most robust pipeline of deals in Continue Reading
The United States must speed up project permits if it is to meet the Biden administration’s 2030 target for offshore wind power, major developer Orsted (ORSTED.CO) said on Thursday. The Continue Reading
The U.S. oil futures curve is pointing to a tightness the market hasn’t seen in years, sparking concerns of the potential for sharp inventory drawdowns. The three nearest so-called timespreads Continue Reading
The European Union started rolling out a first-of-a-kind digital health certificate that permits people who have been vaccinated to travel freely within the bloc without the need to quarantine or Continue Reading
Highlights Build measures 13 Bcf above five-year average Margin narrows for summer to winter futures US natural gas storage fields posted an above-average storage build for the week ended June Continue Reading
The stench bellows from the 1,500-foot hole in the ground, the remains of a well long ago abandoned by a bankrupt oil company. Despite its rotten-egg smell, the culprit is Continue Reading
Banks have started to cut their exposure to the U.S. shale patch, seeing more than 100 producers and oilfield services firms go bust last year and feeling the environmental, social, Continue Reading
Using wind tunnel measurements and computational fluid dynamics simulations, Lawrence Livermore National Laboratory (LLNL) engineers have demonstrated that aerodynamically integrated vehicle shapes decrease body-axis drag in a crosswind, creating large Continue Reading
Despite announcements last year that it is striving for net-zero carbon emissions by 2050, Norway has now said it will go full steam ahead in its oil ventures over the Continue Reading
The city of Moscow, Russia is halting the purchase of diesel buses for its passenger transport fleet. Starting this year, by the decision of the Mayor of Moscow, we will Continue Reading
An effort to push the most sweeping changes to the global tax system in a century gained significant momentum on Thursday when 130 nations agreed to a blueprint in which Continue Reading
Oil prices rose on Thursday, supported by lower U.S. inventories and the prospect of strengthening demand, while investors awaited a decision from OPEC+ producers on whether they would maintain or Continue Reading
Amrita Sen says OPEC+ is likely to raise output by “anything up to 500,000 barrels per day.” Oil rose above $74 a barrel as the market waited for a meeting Continue Reading
Crude oil prices jumped higher today after the Energy Information Administration reported an inventory decline of 6.7 million barrels for the week to June 25. This compares with a draw Continue Reading
The oil market will end 2021 in a deficit of 5 million bpd as demand grows by another 2.2 million bpd in the second half of the year, Goldman Sachs Continue Reading
Iranian President Mahmoud Ahmadinejad has announced plans for discussions with Arab nations about plans to enrich uranium in a neutral country outside of the the Middle-Eastern region, such as Switzerland Continue Reading
Global prices for natural gas are at multi-year highs, with high temperatures driving up demand for power generation in the northern hemisphere for air conditioning and as traders in some Continue Reading
The Texas Freeze was one of those unprecedented events that have the potential to upend the way things are done, in this case, in power utilities. The crisis, which saw Continue Reading
The oil and gas industry is embracing new technologies to save time and costs and, most recently, to reduce the carbon footprint of its supply chain as the energy sector Continue Reading
Hydropower, the “forgotten giant” of low-carbon electricity, will need major policy support to help accelerate the expansion of solar and wind power and put the world on track for net-zero Continue Reading
OPEC+ is expected to discuss extending its deal on cutting oil supply beyond April 2022, two OPEC+ sources said on Wednesday, after a panel set up by the group warned Continue Reading
The OPEC+ alliance expects a significant overhang of oil supply on the market after April 2022 when the current production cut pact expires, Reuters reported on Wednesday, citing an internal Continue Reading
Tehran — Iranian President Hassan Rouhani gave assurance on June 30 that recent labor protests did not impact energy supply in the country or its exports and vowed to solve Continue Reading
At June’s G7 meeting, U.S. President, Joe Biden, received the backing of the world’s seven largest advanced economies (comprised of the U.S., the U.K., Germany, France, Italy, Canada, and Japan) Continue Reading
Power blackouts throughout Iraq threaten to cause new bouts of social unrest over chronic failures to build adequate domestic gas and electricity supply. An Iraqi worker fixes wiring linked to Continue Reading
With a climate and topography ill-suited for large-scale wind power generation on land, the country looks out to sea for its clean energy ambitions The offshore substation collects and sends Continue Reading
Following a joint statement with China addressing the climate crisis on April 17th, the US submitted a new ‘nationally determined contribution’ (NDC) at the virtual summit led by Biden on Continue Reading
