IMF Managing Director Kristalina Georgieva Photographer: Andrew Harrer/Bloomberg The US economy is likely to slow in 2022 and 2023 but will “narrowly avoid a recession” as the Federal Reserve implements Continue Reading
A record number of acres have burned this month in Alaska, forcing Indigenous people from their homes, compromising air quality and stretching firefighting resources thin. More than 1 million acres Continue Reading
The number of total active drilling rigs in the United States rose by 13 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
Granholm led an in-person meeting with CEOs and executives of seven major U.S. oil companies. The U.S. Department of Energy (DOE) confirmed Thursday that Secretary of Energy Jennifer M. Granholm Continue Reading
When Russia turns off the gas through the Nord Stream 1 pipeline for maintenance in July, Europe is starting to worry that it won’t turn it back on again. This Continue Reading
EU leaders will on Friday discuss how the bloc would cope without Russian gas, and are expected to accuse Moscow of “weaponising” energy via a supply squeeze that Germany warned Continue Reading
The German government is considering converting parts of the Nord Stream 2 gas pipeline into a connection for a liquefied natural gas terminal on the Baltic Sea coast. Magazine Der Continue Reading
Poland and Ukraine are increasing this year’s production of thermal coal, the most polluting fossil fuel, preparing for colder months as Europe grapples with an energy security crisis exacerbated by Continue Reading
Italy’s dependence on Russia for imported gas has decreased to 25% from 40% last year, Prime Minister Mario Draghi said on Friday following a summit of European Union leaders where Continue Reading
Crude oil futures were mostly steady in mid-morning trade in Asia June 24 after shedding early morning gains as sentiment remained fragile following steep declines in the last two sessions. Continue Reading
US natural gas working stocks rose by a larger-than-expected 74 Bcf during the week ended June 17, reducing the deficit to a seasonal low of 13.2%, which helped spur a Continue Reading
OPEC and allied producing countries including Russia will likely stick to a plan for accelerated oil output increases in August, sources said, hoping to ease surging oil prices and inflation Continue Reading
High voltage electricity transmission pylons alongside the Eskom plant in South Africa. Eskom Holdings SOC Ltd. said it may increase power cuts in South Africa as workers escalate protests over Continue Reading
Pakistan is facing an escalation of its power crisis after it failed to agree a deal for natural gas supply next month. State-owned Pakistan LNG Ltd. scrapped a purchase tender Continue Reading
Ant Group headquarters in Hangzhou. Regulators scrapped Ant’s IPO plans in 2020. Photographer: Qilai Shen/Bloomberg On trading floors in New York and Hong Kong, the brightening mood toward Chinese technology Continue Reading
China may bar solar developers from building panels on farmland as the government weighs the importance of food security against its clean energy goals. Three ministries including the National Energy Continue Reading
The 500-mile drive across Guinea to the Simandou mountains takes three days. Videographer: Jason Florio for Bloomberg Green Guinea’s Simandou mountains hold the largest untapped iron-ore deposit on the planet. Continue Reading
Highlights State Grid says northern grids hit peak power loads multiple times High temperature alert issued for 12 provinces and regions Li Keqiang stresses on maximizing coal production A heat Continue Reading
A new battery from Contemporary Amperex Technology Co Ltd promises to resolve one of the chief complaints that drivers have with electric vehicles: battery range. The next-generation Qilin battery—named after Continue Reading
CATL launched Qilin, the third generation of its CTP (cell-to-pack) technology. With a record-breaking volume utilization efficiency of 72% and an energy density of up to 255 Wh/kg, it achieves Continue Reading
The U.S. and European economies slowed sharply in June as surging prices of energy and food weakened demand for other goods and services, business surveys showed, increasing the risk of Continue Reading
The volume of long-term LNG contracts signed to end-user markets climbed to a 5-year high in 2021. 10-year LNG contracts are currently priced at ~75% above 2021’s rate. Bloomberg data Continue Reading
The business activity index in the energy firms operating in Texas, northern Louisiana, and southern New Mexico jumped in the second quarter to the highest level in six years, but Continue Reading
EU leaders will on Friday discuss how the bloc would cope without Russian gas, and are expected to accuse Moscow of “weaponising” energy via a supply squeeze that Germany warned Continue Reading
Germany is heading for a gas shortage if Russian gas supplies remain as low as they are now, and certain industries would have to be shut down if there is Continue Reading
The United States will provide an additional $450 million in security assistance to Ukraine, including more long-range rocket systems, U.S. officials said on Thursday. Moscow’s forces are advancing in Ukraine’s Continue Reading
European natural gas prices headed for a second straight weekly advance as Russia’s deep supply cuts unsettle markets and force governments into policy u-turn to bring back coal power stations. Continue Reading
With Ukraine’s seaports blockaded or captured by Russian forces, neighboring Romania’s Black Sea port of Constanta has emerged as a main conduit for the war-torn country’s grain exports amid a Continue Reading
UK Chancellor of the Exchequer Rishi Sunak remained committed to his windfall tax. UK Chancellor of the Exchequer Rishi Sunak remained committed to his windfall tax on oil and gas Continue Reading
Highlights Recession fears continue to plague sentiment “Very challenging” to achieve soft landing for economy: Powell Oil market remains tight Crude oil futures were sharply lower in mid-morning trade in Continue Reading
Oil prices continued to retreat on Thursday as investors reassessed the risks of recession and the impact of interest rate hikes in major economies on fuel demand. U.S. West Texas Continue Reading
The Kurdistan Regional Government’s (KRG) lawsuit against several federal Oil Ministry leaders was delayed Tuesday — the latest development in a series of legal battles over the implementation of February’s Continue Reading
Companies in China are cutting back on digital-ad spending as the economy slows and recurring Covid-19 outbreaks weigh on consumption, another sign of waning business confidence in the world’s most Continue Reading
Glencore Energy on Tuesday admitted to paying over $28 million (€26.5 million) in bribes across five African countries to secure preferential access to oil and generate illicit profit. The United Continue Reading
Tensions between Kazakhstan and Russia are reaching a boiling point. Awkward exchanges between leaders highlight weakness in the two countries’ alliance. Russia’s unprovoked war in Ukraine has left Kazakhstan and Continue Reading
President Joe Biden’s request that Congress pass a three-month suspension of the federal gasoline tax “is dead on arrival,” U.S. Senator John Thune, the second-ranking Republican in the Senate, said Continue Reading
The U.S. economy faces elevated risks of a recession over the next one to two years due to rising imbalances in markets for goods and services, including labor, according to Continue Reading
Jay Powell said a US recession is “certainly a possibility” and warned that avoiding a downturn now largely depends on factors outside the Federal Reserve’s control. In testimony to the Continue Reading
The American Petroleum Institute (API) reported a build this week for crude oil of 5.607 million barrels, while analysts predicted a draw of 1.433 million barrels. It is the first Continue Reading
Top U.S. liquefied natural gas (LNG) exporter Cheniere Energy Inc (LNG.A) on Wednesday gave the financial go-ahead to an $8 billion expansion of its Corpus Christi, Texas, plant and signaled Continue Reading
Leaders from the Group of Seven rich democracies and the NATO alliance will work to increase pressure on Russia over its war in Ukraine next week, while underscoring their continued Continue Reading
Europe must race to replace sanctioned and curtailed Russian energy supply and should double down on efficiency and renewables, including nuclear power, the International Energy Agency (IEA) said on Wednesday. Continue Reading
Britain’s defense intelligence service believes that Russia’s momentum in the war in Ukraine will slow in the next few months as its army exhausts its resources, British Prime Minister Boris Continue Reading
Russian oil cargoes are increasingly disappearing from view in the Atlantic Ocean as sanctions against the nation’s exports ratchet up. In the past 10 days, at least three tankers have Continue Reading
Strikes hit processing unit, crude tank farm Novoshakhtinsky had only recently resumed operations Ukraine invasion leading to significant infrastructure damage Operations at the Novoshakhtinsky refinery in Southern Russia have been Continue Reading
Germany triggered the “alarm stage” of its emergency gas plan on Thursday in response to falling Russian supplies but stopped short of allowing utilities to pass on soaring energy costs Continue Reading
The British government is still “fleshing out details” of a special tax on North Sea oil and gas producers announced last month, energy minister Kwasi Kwarteng told a conference on Continue Reading
The German companies that drive Europe’s biggest economy are contemplating painful cuts to their output and resorting to polluting forms of energy previously considered unthinkable as they adjust to the Continue Reading
India is providing safety certification for dozens of ships managed by a Dubai subsidiary of top Russian shipping group Sovcomflot, official data showed, enabling oil exports to India and elsewhere Continue Reading
Ukraine will be accepted as a candidate to join the European Union on Thursday, a move that will boost the country’s morale as the battle with Russian troops for two Continue Reading
