Highlights Plateau target reduced to 1.7 mil b/d from 2.1 mil b/d Field currently producing 1.4 mil b/d BP, PetroChina lead contractors Iraq has lowered the production plateau target of Continue Reading
The OPEC member is suffering a worsening political crisis. Libya’s state oil company suspended shipments from the key eastern port of Ras Lanuf, according to people familiar with the matter, Continue Reading
People walk past a China Energy coal-fired power plant in Shenyang, Liaoning province, China September 29, 2021. REUTERS/Tingshu Wang SHANGHAI, June 29 (Reuters) – China will reduce its industrial energy Continue Reading
Bloomberg News Travelers wanting to get into China will still need to contend with the intricate web of testing and bureaucratic requirements that underpin Covid Zero, tempering optimism that its Continue Reading
Russia’s invasion of Ukraine has driven up food prices around the world, but the situation is less grim in Asia. Thank rice. Following successive bumper crops, rice has emerged as Continue Reading
Highlights Q2 power burn trends at record-high 30.9 Bcf/d US coal exports in H1 2022 at highest since 2018 CAPP thermal coal prices hit record-high $175/st Rising US coal exports Continue Reading
The number of workers active in the Permian has dramatically increased since the invasion of Ukraine in late February. More oil workers are being trained to operate in the Permian, Continue Reading
U.S. power companies are facing supply crunches that may hamper their ability to keep the lights on as the nation heads into the heat of summer and the peak hurricane Continue Reading
U.S. authorities have stopped a ship traveling from Russia to Louisiana with a cargo of fuel products, say people familiar with the matter. The Daytona tanker is owned by Greek Continue Reading
The American Petroleum Institute (API) reported a large draw this week for crude oil of 3.799 million barrels, while analysts predicted a draw of 110,000 barrels. The build comes as Continue Reading
Europe may struggle to tap LNNG to replace missing Russian supply. Source: Bloomberg Natural gas prices in Europe increased on Wednesday amid risks that the supply situation could deteriorate as Continue Reading
The worst drought Italy has faced in 70 years is thirsting paddy fields in the river Po valley and jeopardizing the harvest of the premium rice used for risotto. Italy’s Continue Reading
The UK will cut off gas supplies to mainland Europe if it is hit by severe shortages under an emergency plan that energy companies warn risks exacerbating a crisis on Continue Reading
The US will increase its military deployments in Europe as part of a scaling up of Nato defenses, President Joe Biden said, in response to Russia’s invasion of Ukraine. Biden Continue Reading
NATO’s top official said Tuesday that Turkey had dropped its objections to the membership of Sweden and Finland, two historically nonaligned nations that, alarmed by Russia’s invasion of Ukraine, have Continue Reading
President Biden unveiled an enhanced U.S. posture in Europe on Wednesday, announcing that the NATO alliance would be “ready for threats in all directions.” The new U.S. military deployments include Continue Reading
MP Andrey Gurulyov said that Europe would ‘croak’ if Russia attacked its no.1 oil hub in the Netherlands. Gurulyov’s muscle-flexing doesn’t reflect Russia’s official state policy. Europe’s energy infrastructure is Continue Reading
In the first quarter of next year, the countries of the European Union will have to cut their usage of natural gas by up to 30% in preparation for a Continue Reading
OEUK Chief Executive Deirdre Michie warned that the new tax risks driving away UK oil and gas investment. The UK government’s decision to impose a 65 percent tax rate on Continue Reading
Libya on verge of declaring force majeure, adding to Ecuador woes UAE at maximum output, Saudi has only 150,000 b/d spare capacity: Macron Crude oil futures were higher in mid-morning Continue Reading
Oil prices rallied for a third day on Tuesday as major producers Saudi Arabia and the United Arab Emirates looked unlikely to be able to boost output significantly, while political Continue Reading
Goldman Sachs remains highly bullish on crude and refined products. GS: recent pullback could be buying opportunity. The underinvestment thesis remains the core of Goldman’s energy market view. Goldman Sachs Continue Reading
As investors are increasingly concerned about recessionary risks, Brent oil prices have bucked this trend. As investors are increasingly concerned about recessionary risks, Brent oil prices have bucked this trend, Continue Reading
Group of Seven nations are set to allow some exceptional public financing of overseas fossil-fuel projects to continue provided that the investments are consistent with prior climate-change agreements, according to Continue Reading
Kayrros, a firm that analyzes satellite data, says methane emissions from fossil fuels have intensified, rising faster than the rebound in oil, gas and coal production since the easing of Continue Reading
Oil and gas employees across the globe are on edge as the industry faces a growing set of existential challenges. The green energy transition is one of the primary drivers Continue Reading
G7 leaders have agreed to study placing global price caps on imports of Russian energy to curb Moscow’s ability to fund its invasion of Ukraine and to contribute up to Continue Reading
OPEC’s oil revenue surged in 2021 as prices and demand recovered from the worst of the COVID pandemic, while the number of its members active rigs posted a modest rebound Continue Reading
Producer group OPEC+ trimmed its projected 2022 oil market surplus to 1 million barrels per day (bpd), down from 1.4 million bpd previously, a report seen by Reuters showed. The Continue Reading
French President Emmanuel Macron said on Monday the president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan (MbZ), had told him two top OPEC oil producers, Saudi Arabia Continue Reading
Highlights Gulf of Sirte includes Es Sider, Brega, Ras Lanuf and Zueitina ports Force majeure could be declared in in 72 hours, says NOC chairman Production has fallen by almost Continue Reading
Jizan adds 400,000 b/d to Saudi refining capacity Saudi petroleum products up 17% in 2021 Crude reserves remain largely flat Saudi Arabia’s refining capacity rose 13.7% in 2021, one of Continue Reading
Sri Lankan citizens were put on a virtual lockdown amid a crippling sovereign debt crisis that’s left the South Asian nation with no fresh fuel supplies. The island nation’s cabinet Continue Reading
Authorities in northeastern India are airdropping water packets, sending kerosene supplies and racing to restore power after heavy rains drowned the city of Silchar, in the state of Assam. It’s Continue Reading
President Joe Biden and G7 leaders are ramping up efforts to counter China’s Belt and Road initiative. The leaders have pledged $600 billion to a new global infrastructure project for Continue Reading
Power consumption in several Chinese regions rose to record highs over the weekend, as persisting heatwaves spurred the use of air conditioners to help people cool off. Monitoring data from Continue Reading
– U.S. crude inventory in the Strategic Petroleum Reserve (SPR) fell by 6.9 million barrels in the week to June 24, according to data from the Department of Energy. Stockpiles Continue Reading
Pain at the gas pump goes beyond the high prices : Gas stations are also putting bigger holds of up to $175 on customers’ cards when they swipe. When drivers Continue Reading
Oil exports from the US Gulf Coast are set to hit an all-time high of 3.3 million barrels per day (bpd) in the second quarter of 2022, as refining capacity Continue Reading
Highlights differentials Urals shipments to China, India, upend traditional crude flows Canadian heavy crude increasingly is flowing more to the US Gulf Coast since new pipeline capacity recently came online, Continue Reading
A drop in the global price of oil helped the national average for a gallon of gas to fall for a second week to land at $4.89. Economic fears of Continue Reading
Jobs in the U.S. energy business rose 4% last year, at a faster clip than the country’s overall private sector, led by work in low-carbon vehicles, while positions in fossil Continue Reading
– U.S. farmers have cut back on using common weedkillers, hunted for substitutes to popular fungicides and changed planting plans over persistent shortages of agricultural chemicals that threaten to trim Continue Reading
The White House said on Tuesday that companies are planning to invest more than $700 million to boost U.S. manufacturing capacity for electric vehicle (EV) chargers – actions set to Continue Reading
Exports of crude oil from the U.S. Gulf Coast could hit a record 3.3 million barrels per day (bpd) this quarter, analysts said on Monday, as Europe chases U.S. crude Continue Reading
The international community should explore all options to alleviate a Russian squeeze of energy supplies that has spiked prices, including talks with producing nations like Iran and Venezuela, a French Continue Reading
A “serious disruption” to the European Union’s gas supplies from Russia is likely, the bloc’s energy chief said on Monday as she urged countries to update their contingency plans for Continue Reading
The Group of Seven club of wealthy nations on Monday vowed to stand with Ukraine “for as long as it takes”, promising to tighten the squeeze on Russia’s finances with Continue Reading
Norway and the European Union will closely cooperate on battery value chains and raw material supply as part of efforts to tackle climate change, they announced during a Norway visit Continue Reading
European natural gas prices rose as Russia’s deep supply cuts are slowing the pace of refilling storage sites, threatening to fall short of the levels required to keep homes warm Continue Reading
