Nuclear Power Gets New Push in U.S., Winning Converts
Driven by the difficulty of meeting clean energy goals and by surging electricity demands, a growing number of political leaders are taking a fresh look at nuclear power — both Continue Reading
Governors Hochul and Murphy to Split Cost of Gateway Tunnel
For the last 20 years, the plan to dig new train tunnels under the Hudson River — among the most ambitious and important transportation projects in the country — has Continue Reading
Austria plans to order industry to switch to oil from gas where it can
Austria will order industry and utilities to make plants run on alternatives to natural gas where possible, especially oil, its energy minister said on Tuesday, as the country scrambles to Continue Reading
France’s EDF says hot summer could hit nuclear output, shares fall
France’s EDF (EDF.PA) might be forced to cut nuclear output further because of expected prolonged hot temperatures over the summer months, an executive told a briefing on Tuesday, prompting a Continue Reading
Russian Army Turns Ukraine’s Largest Nuclear Plant Into a Military Base
The Zaporizhzhia Nuclear Power Station is under control of the Russian National Guard. The Russian army is transforming Europe’s largest nuclear power plant into a military base overlooking an active Continue Reading
France’s Nuclear Woes Will Worsen Europe’s Power Crisis
Drought and hot weather this summer are adding to France’s nuclear power generation problems at the worst possible moment. As Europe grapples with low Russian gas supply and the threat Continue Reading
Russia set to meet just 25% of EU gas demand in 2022: IEA
Russia is expected to meet just 25% of EU gas demand this year, its lowest level in more than two decades, the International Energy Agency said July 5. In its Continue Reading
Russian court orders halt to Caspian oil pipeline but exports still flow
Caspian Pipeline Consortium (CPC), which takes oil from Kazakhstan to the Black Sea via one of the world’s largest pipelines, has been told by a Russian court to suspend activity Continue Reading
All oil and gas fields affected by Norway strike to be fully back up in days – Equinor
All oil and gas fields that were affected by a strike in Norway’s petroleum sector are expected to be back in full operation within a couple of days, Equinor (EQNR.OL) Continue Reading
Shell to start construction of renewable hydrogen plant in Netherlands
Shell Plc (SHEL.L) said on Wednesday it would start building a renewable hydrogen plant in the Netherlands, which according to the energy giant will be Europe’s largest once it is Continue Reading
EUROPE POWER Rising wind supply weighs on spot price
European spot power prices dropped on Wednesday as wind supply in Germany is expected to nearly double, offsetting lower solar production throughout the region and lower French nuclear. “There is Continue Reading
UK Grid Turns Screws on Industry to Cut Winter Gas Use
Britain’s grid operator is set to crank up the pressure on big energy users, taking a more forceful stance on curbing their natural gas consumption as it tries to head Continue Reading
Putin’s War Throws Crucial EU Vote on ‘Green’ Gas Into Doubt
European lawmakers are under pressure from Ukraine to block plans to treat gas as a green asset, plunging into serious doubt an EU Parliament vote that not long ago seemed Continue Reading
Europe’s String of Extreme Heat Waves Linked to Jet Stream
The extreme heat in Spain, the UK and France this summer was made worse by changes in the jet stream , the strong westerly winds that blow above the planet’s Continue Reading
Brent oil falls as recession fears increase fuel demand concerns
Brent oil prices dipped on Tuesday, reversing earlier gains of $1, as concerns of a possible global recession curtailing fuel demand outweighed supply disruption fears, highlighted by a potential production Continue Reading
Oil Holds Above $110 as Tight Supply Balanced by Recession Risk
Crude’s timespreads point to robust near-term consumption Citi warns price could slump to $65 if recession hurts demand Oil held gains as investors assessed still-strong underlying market signals against concerns Continue Reading
Oil bulls retreat as economic outlook darkens
Investors continued to liquidate bullish long positions in petroleum last week as the economic outlook deteriorated though the rate of selling was much slower after heavy selling the week before. Continue Reading
Coal Makes a Comeback as the World Thirsts for Energy
An energy-starved world is turning to coal as natural-gas and oil shortages exacerbated by Russia’s war against Ukraine lead countries back to the dirtiest fossil fuel. From the U.S. to Continue Reading
Is Saudi Arabia Exaggerating Its Oil Production Potential?
For years, Saudi Arabia has made some pretty hefty claims about its oil potential. It is becoming increasingly clear, however, that the Kingdom may be stretching the truth a little Continue Reading
Baghdad court declares four KRG oil contracts void
The Karkh Commercial Court in Baghdad purported to annul four of Iraqi Kurdistan’s oil contracts Monday, as the federal Oil Ministry intensifies its push to implement February’s landmark ruling against Continue Reading
Schlumberger, Baker Hughes, Halliburton to exit Kurdish contracts: Iraq’s oil ministry
Schlumberger, Baker Hughes and Halliburton are in the process of liquidating and exiting existing tenders and contracts in Iraq’s semi-autonomous Kurdistan region to be in compliance with a Federal Supreme Continue Reading
Saudi Arabia, Kuwait discuss boosting Neutral Zone oil production
Saudi Arabian and Kuwaiti officials for the Neutral Zone — the oil-producing area that straddles the border between the two countries — met on July 3 to discuss ways to Continue Reading
Drones Sent Towards Israeli Gas Rig
There have been tensions over the location of the Israeli gas rig within the contested waters. Earlier this month, Lebanon’s Hezbollah sent three unarmed drones towards an Israeli Mediterranean gas Continue Reading
Saudi Arabia sets Aug crude prices to Asia at near-record high – sources
Saudi Arabia, the world’s top oil exporter, raised August crude oil prices for Asian buyers to near-record levels amid tight supply and robust demand. The official selling price (OSP) for Continue Reading
U.S. oilfield services trio to exit Kurdistan region, Iraqi ministry says
U.S. oilfield services companies Schlumberger (SLB.N) , Baker Hughes (BKR.O) and Halliburton (HAL.N) have pledged to comply with a federal supreme court ruling and withdraw from Iraq’s Kurdistan region, the Continue Reading
For Reliance, With Love: Russian Oil Has Supercharged Profits
It takes a lot to shake confidence in Reliance Industries Ltd, 500325 0.80%▲ India’s most valuable company. An unprecedented windfall tax on fuel exports, which pushed the stock down by as much as 9% on Continue Reading
India Will Not Lift Windfall Tax On Oil Firms Until Crude Drops By $40
India’s windfall tax on oil companies and refiners, introduced last week, could stay for a very long time, as the government plans to withdraw it only when oil prices drop Continue Reading
Sydney floods burden 50,000 around Australia’s largest city
Hundreds of homes have been inundated in and around Australia’s largest city in a flood emergency that was causing trouble for 50,000 people, officials said Tuesday. Emergency response teams made Continue Reading
South Korean president unveils energy plan focused on cutting fossil fuel reliance
South Korea’s newly-elected president Yoon Suk-yeol unveiled his new energy plan July 5 focused on reducing the country’s reliance on fossil fuels and increasing oil and LNG stockpiles with a Continue Reading
China and US Discuss Trump-Era Tariffs Biden’s Looking to Ease
:Yellen and Chinese Vice Premier Liu discussed US economic sanctions and tariffs. Bruce Einhorn reports. Bloomberg News Senior US and Chinese officials discussed US economic sanctions and tariffs Tuesday amid Continue Reading
If the U.S. Is in a Recession, It’s a Very Strange One
The first half of 2022 looks like a ‘jobful’ downturn, in which output fell and companies kept hiring. The U.S. economy has experienced 12 recessions since World War II, and Continue Reading
Norwegian oil and gas workers start strike, cutting output
Norwegian offshore workers began a strike on Tuesday that will reduce oil and gas output, the union leading the industrial action told Reuters. The strike, in which workers are demanding Continue Reading
Column: Russia boosts coal exports as Western sanctions yet to bite
Much of the focus on sanctions on Russia’s commodity exports is on crude oil and natural gas, but coal is perhaps the best example of the challenges facing those seeking Continue Reading
Russia’s Medvedev: oil could top $300-400 if Japan’s price cap idea implemented
Russia’s former president Dmitry Medvedev said on Tuesday that a reported proposal from Japan to cap the price of Russian oil at around half its current price would lead to Continue Reading
Russia May Keep Nord Stream Gas Curbed After Works, Goldman Says
A key Russian pipeline to Europe may not return to full capacity after planned maintenance this month, Goldman Sachs Group Inc. said, echoing the concerns of German officials. Nord Stream Continue Reading
Europe Gas Trades Near 4-Month High With Norway, Russia in Focus
European natural gas prices extended gains to the highest level in almost four months on persistent supply concerns amid the worst energy crunch in decades. Benchmark futures jumped as much Continue Reading
Europe Gas Trades Near 4-Month High With Norway, Russia in Focus
European natural gas prices extended gains to the highest level in almost four months on persistent supply concerns amid the worst energy crunch in decades. Benchmark futures jumped as much Continue Reading
High cost of Russia gains in Ukraine could limit new advance
After more than four months of ferocious fighting, Russia claimed a key victory: full control over one of the two provinces in Ukraine’s eastern industrial heartland. But Moscow’s rout of Continue Reading
Italy Declares State of Emergency in Regions Hit by Drought
Italy’s Cabinet declared a state of emergency in five regions that have been heavily hit by drought, according to a government statement. View full article at www.bloomberg.com
Ukraine War Hits Germany With First Trade Deficit in Over Three Decades
Germany posted a trade deficit for the first time in more than three decades in May, underlining the impact of the Ukraine war on Europe’s largest economy, whose reliance on Continue Reading
In Putin’s Russia, the Arrests Are Spreading Quickly and Widely
They came for Dmitri Kolker, an ailing physicist, in the intensive care ward. They came for Ivan Fedotov, a hockey star, as he was leaving practice with a film crew Continue Reading
Russia Announces 82-Million-Ton Arctic Oil Discovery
Russian oil and gas giant Rosneft claims to have made an 82-million-ton oil discovery in the Pechora Sea. Rosneft has a controlling interest in 28 offshore licenses in the Arctic Continue Reading
The Netherlands Calls On Large Energy Users To Reduce Consumption
The Netherlands said on Monday that large energy consumers would need to cut back on their usage beginning at the start of next year, Reuters has reported. The restrictions are Continue Reading
Gazprom Demands Rubles For LNG
Gazprom is proposing to extend the rubles-for-gas scheme to liquified natural gas (LNG), a senior executive said on Monday, days after Russia moved to take full control over the Sakhalin-2 Continue Reading
Oil slips as recession fears balance tight supply
Oil edged lower on Monday as fears of a global recession that would hit demand overshadowed concerns of tight supply amid lower OPEC output, unrest in Libya and sanctions on Continue Reading
Oil Stabilizes as Traders Weigh Recession Concerns, Tight Supply
Oil steadied below $109 a barrel at the start of the week’s trading, with traders weighing concerns that a global slowdown will drag down demand against supply interruptions and signs Continue Reading
JPMorgan Sees ‘Stratospheric’ $380 Oil on Worst-Case Russian Cut
Russia. Global oil prices could reach a “stratospheric” $380 a barrel if US and European penalties prompt Russia to inflict retaliatory crude-output cuts, JPMorgan Chase & Co. analysts warned. The Continue Reading
Total Global Recoverable Oil Reserves Are Falling At An Alarming Rate
Rystad Energy is an independent oil and gas consulting services and business intelligence data firm offering global databases, strategy consulting and research products. Rystad Energy’s… According to Rystad Energy analysis, Continue Reading
Falling Commodity Prices Raise Hopes That Inflation Has Peaked
A slide in all manner of raw-materials prices—corn, wheat, copper and more—is stirring hopes that a significant source of inflationary pressure might be starting to ease. Natural-gas prices shot up Continue Reading
Can Past Oil Production Predict the Future?
The EIA has reported that their site experienced technical problems last week and that they have not been able to update their weekly and monthly data. Since we do not Continue Reading