7.01 GW capacity set to be commissioned in 2022-23 39 thermal coal plants under construction India added 8 plants with 4.49 GW capacity in 2021-22 India is expected to commission Continue Reading
Brazil President Jair Bolsonaro’s government said it aims to include state oil company Petrobras (PETR4.SA) in its privatization program on Thursday, despite analysts calling it a long-shot for the far-right Continue Reading
New oil findings at a deeper layer in Guyana’s seabed could help adding billions of barrels to what is already the world’s largest oil discovery in 20 years, Hess Corp Continue Reading
June gasoline exports seen capped at 227,000 b/d Slower-than-expected demand recovery adds to inventory buildup China’s gasoline and gasoil exports are likely to remain muted in June as Beijing is Continue Reading
Russian officials have raised increasingly frustrated requests for greater support during discussions with Beijing in recent weeks, calling on China to live up to its affirmation of a “no limits” Continue Reading
The Biden administration must thoroughly analyze the climate impacts of oil and gas leasing on nearly 4 million acres (1.6 million hectares) of federal land in five states before drilling Continue Reading
The White House is considering proposals that would tax oil and gas windfall profits in order to provide a benefit to consumers struggling with higher energy prices, a U.S. official Continue Reading
Power demand in Texas will break the all-time high next week as economic growth boosts overall usage and hot weather causes homes and businesses to crank up their air conditioners, Continue Reading
The invasion of Ukraine has put the US and Europe on a wartime mission to abandon Russian fossil fuels. This series looks at speeding up zero-carbon alternatives by lowering political Continue Reading
Alaska is one of the most resource-rich states in the United States, will billions of barrels of recoverable oil reserves. Russia, which sold Alaska to the United States in 1867, Continue Reading
In May the US Federal Reserve implemented its largest interest rate increase in two decades. The move is likely to affect emerging market currencies and increase debt payments. Emerging markets Continue Reading
No large rig adds; Marcellus loses 2, leaving 41 Rig count additions to appear to be slowing Despite high oil prices, the discipline still strong The US oil and gas Continue Reading
Buick is committing to an all-electric portfolio by the end of the decade. In support of General Motors’ vision of a zero-emissions, all-electric future, Buick will bring its first electric Continue Reading
Tesla (TSLA.O) CEO Elon Musk has a “super bad feeling” about the economy and wants to cut about 10% of jobs at the electric carmaker, he said in an email Continue Reading
California port leaders expect imports to rise as Shanghai, home to the world’s busiest seaport, emerges from a two-month COVID-19 lockdown. The question is whether that release of pent-up goods Continue Reading
BlackRock’s Fink Sees Inflation Lasting for Years BlackRock Inc . Chief Executive Officer Larry Fink said he expects inflation to remain elevated for several years primarily because of snarled global Continue Reading
New York Governor Kathy Hochul announced plans to build 22 renewable energy projects, much of them solar-power facilities, as the state aspires to achieve a zero-emission grid by 2040. The Continue Reading
Ford Motor Co. plans to add 6,200 union manufacturing jobs and invest $3.7 billion into plants in Michigan, Ohio and Missouri, as it looks to expand vehicle production and prepare Continue Reading
Three major oil companies have given up opportunities to explore for oil in Alaska’s Arctic National Wildlife Refuge, after the industry and Republican politicians have spent decades working to gain access to Continue Reading
MISO, West region at highest risk High power prices expected in ERCOT Eastern ISOs forecast sufficient capacity The Midcontinent System Operator and Western US are at risk of energy emergencies Continue Reading
European Union’s embargo on oil imports from Russia may result in significant shortages of oil and oil products in Europe, Russian Deputy Prime Minister Alexander Novak said on Thursday, also Continue Reading
With only weeks left before Ukraine’s wheat harvest begins in earnest, Poland is racing to speed up the flow of grain from its war-torn neighbor, scouring Europe for spare train Continue Reading
Russia is confident that it will be able to restore in June oil production lost in March and April, with this month seen as “maximum recovery relative to previous levels,” Continue Reading
European Union ambassadors approved on Thursday the proposed partial ban on Russian oil imports into the EU as part of a sanctions package that also aims to cut Russia off Continue Reading
P&I cover unavailable for sanctioned location voyages Japan closely watching EU insurance ban on Russia ships Russian shipping gets costlier The European Union’s ban on insurance and reinsurance of Russian Continue Reading
After 100 days of war, Ukraine is fighting for time, trying to hold out against overwhelming Russian fire on its eastern front long enough for Western weapons to arrive and Continue Reading
Sanctions-hit Russia has limited exports of noble gases such as neon, a key ingredient for making chips, until the end of 2022 to strengthen its market position, its trade ministry Continue Reading
Germany must work harder to reduce its energy-dependence on Russia but Western sanctions in response to Moscow’s invasion of Ukraine are still taking a heavy toll on the Russian war Continue Reading
French industrial production unexpectedly declined in April, falling for the third consecutive month on continued weakness in manufacturing amid supply disruptions following the war in Ukraine. The factory data for Continue Reading
Shell won official consent to develop the Jackdaw natural gas field in the UK North Sea, eight months after the country’s regulator blocked the project on environmental concerns. Shell Plc Continue Reading
A new report suggests Saudi Arabia may increase oil production. This comes just ahead of the OPEC+ meeting today. Sharon Cho reports. Oil dropped below $113.50 a barrel following reports Continue Reading
Stocks in Europe and US futures climbed Thursday as investors assessed attractive valuations and a drop in oil prices against hawkish messages from central bankers on reining in inflation. Europe’s Continue Reading
ICE Brent crude plunges 3% in early morning trade Saudis prepared to raise output to replace Russian shortfall: reports US Fed survey shows slowing growth in the economy Crude oil Continue Reading
Crude oil from the nation’s Strategic Petroleum Reserves may be headed into commercial inventories, but the American Petroleum Institute (API) still reported a draw this week for crude oil of Continue Reading
Saudi Arabia has indicated to western allies that it is prepared to raise oil production should Russia’s output fall substantially under the weight of sanctions, according to five people familiar Continue Reading
Italy’s prime minister has hatched a radical plan to contain the oil price rally, a plan that involved creating a cartel of oil consumers to increase their bargaining power. The Continue Reading
Citi’s Ed Morse reiterated his bearish view on crude oil in an interview on Bloomberg. Morse: Oil should be trading at around $70 per barrel. Citibank revised its demand growth Continue Reading
OPEC+ is working on making up for a drop in Russian oil output, two OPEC+ sources said on Thursday, as Russia’s production has fallen by around 1 million barrels per Continue Reading
For many Libyans, clashes that erupted in the capital of Tripoli last month were all too familiar — a deja vu of street fighting, reverberating gunfire and people cowering inside Continue Reading
Nearly 50 members of the U.S. House of Representatives introduced a resolution on Wednesday seeking to end any U.S. involvement in Saudi Arabia’s air campaign in Yemen, with plans to Continue Reading
In past oil booms, Saudi Arabia funneled financial windfalls into massive infrastructure and handouts for its citizens. This time around, it is sitting on the cash. With oil prices consistently Continue Reading
Libya is losing another 22,000 barrels per day due to a pipeline leak at the Sarir Tobruk oilfield blamed on delayed budgets that have left the operating company unable to Continue Reading
Two exploratory wells planned in Mendoza If results are positive, 150 wells will be drilled on two blocks YPF is building on its shale production growth in Neuquen Argentina’s state-backed Continue Reading
Key gauges of activity at European and Asian factories remained under pressure in May from China’s economic slowdown and the fallout from the war in Ukraine. New orders in the Continue Reading
The opening of Tesla’s Shanghai factory in 2019 was a breakthrough for electric vehicles and for overseas carmakers: it was the first wholly foreign-owned plant in the world’s largest car Continue Reading
A resurgence in LNG contracting is expected to result in many more deals being signed in the coming months as LNG importers in Asia and Europe, portfolio players and trading Continue Reading
The World Health Organization has cast doubts on North Korea’s claims of progress in the fight against a COVID-19 outbreak, saying it believes the situation is getting worse, not better, Continue Reading
Surging battery prices and shortages of metals and materials are likely to last for some time, Toyota Motor Corp.’s chief scientist warned trends that could weigh on the world’s embrace Continue Reading
China has declared victory in defending Shanghai from the coronavirus pandemic, underscoring Beijing’s unrelenting commitment to its zero-Covid strategy despite the economy teetering on the edge of recession and millions Continue Reading
Price differences between U.S. light and heavy crude oil grades have been widening, pricing data showed, as refiners around the world have been snapping up less-dense crude grades for more Continue Reading
