Oil prices fall 3% on recession fears
Oil prices continued to slide on Wednesday on investor worries about the ailing state of the global economy, bearish oil demand signals from OPEC+ and increased restrictions to curb COVID-19 Continue Reading
Oil Retreats From Biggest Gain in Six Weeks Amid Supply Angst
Oil moved below $96 a barrel, retreating from its biggest gain in more than a month as traders weighed potential supply disruptions, including the possibility of an OPEC+ output cut. Continue Reading
Oil tumbles on inflation woes, Iraq exports
The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, March 21, 2016. REUTERS/Leonhard Foeger LONDON, Aug 30 (Reuters) – Oil Continue Reading
Nuclear Power Is Staging A Remarkable Comeback
As governments around the world struggle with a seemingly insurmountable energy crisis, policymakers are reconsidering nuclear energy as a possible solution. Natural gas prices continue to break record highs, making Continue Reading
This decade’s oil boom is moving offshore – way offshore
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Continue Reading
OPEC+ JTC raises 2022 oil market surplus forecast
The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters ahead of the OPEC and NON-OPEC meeting, Austria December 6, 2019. REUTERS/Leonhard Foeger Aug 31 Continue Reading
One of World’s Most Polluted Spots Gets Worse as $1 Billion Cleanup Drags On
A Hyprep remediation site in Eleme, near Port Harcourt, in 2019. Mismanagement, waste and lack of transparency are making the cleanup in the Niger Delta’s Ogoniland anything but exemplary, UN Continue Reading
Nigeria: NNPC in ‘Locked Pact’ to Supply Dangote Refinery Crude Oil for 20 Years
Oil refinery The agreement will help Nigeria side-step the likely crude oil glut that will follow as more countries move away to cleaner energy. The Nigerian government says it has Continue Reading
Civil unrest raises risks for oil sector
Muqtada al-Sadr on Tuesday gave a speech condemning Monday’s violence and ordering his followers to stop even the peaceful protests that he had earlier ordered. Sadr’s followers appeared to obey Continue Reading
China’s Largest Developer Posts Record 96% Profit Slump
No Single White Knight for China Property Market Bloomberg News Country Garden Holdings Co. said first-half earnings plunged 96%, the most since its 2007 listing in Hong Kong, as China’s Continue Reading
Chinese Property Giants See Fortunes Diverge During Crisis
Country Garden reported 96% profit slump, worst since listing China Vanke saw net income climb 11% as it defied the slowdown Bloomberg News China’s two biggest property developers saw contrasting Continue Reading
U.S. gasoline futures settle at lowest since before Ukraine crisis
U.S. gasoline futures settled at $2.6944 per gallon on Tuesday, its lowest close since Feb. 18, before Russia’s invasion of Ukraine. The Ukraine crisis had roiled energy markets, pushing up Continue Reading
U.S. Diesel Prices Are Back Above $5
Low inventories sent the national average diesel price in the United States back above $5, the first weekly price increase in more than two months. Distillate fuel inventories in the Continue Reading
Texas economic activity shows signs of weakening, reflected in loads, power prices
Texas manufacturing growth in August dropped to its lowest level since May 2020 and the retail sales index stayed negative for the sixth consecutive month, also similar to the pandemic Continue Reading
Gazprom says it will halt gas supplies to France’s Engie, cites lack of payment
Russia’s Gazprom (GAZP.MM) said on Tuesday it would fully suspend gas deliveries to major European utility Engie (ENGIE.PA) from Thursday in a dispute over contracts, a move which will deepen Continue Reading
European Energy Prices Plunge as EU Plans to Intervene in Crisis
Engie says it has been informed by Russian energy giant Gazprom of a reduction in gas deliveries starting Tuesday. European energy prices plunged on signs that the region is stepping Continue Reading
Russia deepens Europe’s energy squeeze with new gas halt
Russia halted gas supplies via Europe’s key supply route on Wednesday, intensifying an economic battle between Moscow and Brussels and raising the prospects of recession and energy rationing in some Continue Reading
Euro zone inflation hits yet another record high in August
Euro zone inflation rose to another record high this month, beating expectations and solidifying the case for further big European Central Bank rate hikes even before pries peak near the Continue Reading
Ukraine southern offensive has ‘successes’ in three areas of Kherson region – local official
Ukrainian forces have had “successes” in three areas of the Russian-occupied region of Kherson, a Ukrainian regional official said on Wednesday, two days after Kyiv announced the start of a Continue Reading
Germany to help citizens cope with energy prices with various measures – econ minister
Economy and Climate Minister Robert Habeck addresses the media after a closed German cabinet meeting at the government’s guest house in Schloss Meseberg, near Gransee, Germany August 31, 2022. REUTERS/Michele Continue Reading
France has been ready for Gazprom’s ‘pretext’ to switch off gas – minister
The logo of Gazprom is seen on the facade of a business centre in Saint Gazprom is using a mere excuse to switch off natural gas deliveries to its French Continue Reading
Banks Avoid Worst of Europe Energy Crisis as Governments Step In
Nat. Gas Sets Path of Price Increases When German utility Uniper SE on Monday requested another 4 billion euros in bailout loans, it didn’t mention some key beneficiaries of the Continue Reading
Europe plan for floating gas terminals raises climate fears
As winter nears, European nations, desperate to replace the natural gas they once bought from Russia, have embraced a short-term fix: A series of roughly 20 floating terminals that would Continue Reading
Nuclear Inspectors Head Into War Zone To Review Shelled Plant
The team of inspectors from the International Atomic Energy Agency (IAEA) left Kyiv on Wednesday en route to the Zaporizhzhya nuclear power plant in southeastern Ukraine to inspect the damage Continue Reading
Europe Braces for Rationing Risks
Europe faces the risk of blackouts, rationing and a severe recession. Europe faces the risk of blackouts, rationing and a severe recession if Russia further slashes gas deliveries, and the Continue Reading
Oil Retreats From Biggest Gain in Six Weeks Amid Supply Angst
Oil moved below $96 a barrel, retreating from its biggest gain in more than a month as traders weighed potential supply disruptions, including the possibility of an OPEC+ output cut. Continue Reading
The World’s Energy Problem Is Far Worse Than We’re Being Told
Gail Tverberg is a writer and speaker about energy issues. She is especially known for her work with financial issues associated with peak oil. Prior… Citizens around the world can Continue Reading
Greenland ice sheet set to raise sea levels by nearly a foot, study finds
Human-driven climate change has set in motion massive ice losses in Greenland that couldn’t be halted even if the world stopped emitting greenhouse gases today, according to a new study Continue Reading
Exclusive: Iran steps up underground uranium enrichment, IAEA report says
Iran is pressing ahead with its rollout of an upgrade to its advanced uranium enrichment programme, a report by the U.N. nuclear watchdog seen by Reuters on Monday showed, even Continue Reading
Clashes erupt after Iraqi Shiite cleric resigns, 10 dead
BAGHDAD (AP) — An influential Shiite cleric announced Monday that he would resign from Iraqi politics, prompting hundreds of his angry followers to storm the government palace and sparking clashes Continue Reading
Pakistan Flood Death Toll Passes 1,000 in ‘Climate Catastrophe’
Over 1,000 Dead in Pakistan’s Deadly Monsoon Flooding in Pakistan from the highest rainfall in more than three decades has killed at least 1,000 people since June and caused more Continue Reading
Exclusive: Attacks on major Iraqi gasfield drive out U.S. contractors
A series of rocket attacks on a gasfield in northern Iraq has sent the U.S. contractors working on its expansion packing, dealing a blow to the Kurdish region’s hopes of Continue Reading
China Is Battling Its Broadest Covid Outbreak Yet
US Firms’ Confidence on China Falls to Fresh Low China is battling Covid-19 in every province despite its use of the world’s strictest measures to keep the virus out. All Continue Reading
China Arrests Hundreds in Nation’s Biggest-Ever Bank Fraud Probe
Bloomberg News China arrested hundreds of people allegedly involved in the nation’s largest ever bank fraud and started repaying more victims of the $5.8 billion scandal, in a bid to Continue Reading
China’s Biggest Developer Says Property Crisis Has Yet to Bottom
China’s biggest property developer by sales is predicting more pain for the real estate industry after posting a record drop in first-half profit. “The home market hasn’t entirely bottomed out, Continue Reading
Crude in U.S. emergency reserve falls to lowest since Dec. 1984
Crude inventory in the U.S. emergency reserves fell by 3.1 million barrels in the week to Aug. 26, according to data from the Department of Energy. Stockpiles in the Strategic Continue Reading
IEA: Russian Oil Output Still Exceeding Expectations
Six months into Russia’s war on Ukraine, Russia’s oil output has continued to exceed expectations although experts are warning that Moscow will find it increasingly difficult to uphold production as Continue Reading
Shell CEO: Europe’s Gas Crisis Could Continue For Multiple Winters
Europe could continue scrambling for gas supply for a number of winters due to low gas flows from Russia, according to the chief executive officer of supermajor Shell. “It may Continue Reading
Russia Curbs Gas Supply to France’s Engie as Squeeze Worsens
WATCH: Engie says it has been informed by Gazprom of a reduction in gas deliveries starting Tuesday. Stephen Stapczynski reports. Europe faced a further squeeze in Russian energy supplies as Continue Reading
Russia-Ukraine War News: Live Updates – The New York Times
View full article at www.nytimes.com
Russia Gives Power Burn a Whole New Meaning
‘Many see the move as a power play to ratchet up political pressure on European supporters of Ukraine’. Russia is giving the term ‘power burn’ a whole new meaning by Continue Reading
Oil rises on prospect of OPEC+ supply cut
Oil rose almost 1% on Monday as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth. Saudi Continue Reading
Global Renewable Energy Consumption Is Soaring
Renewable energy consumption is growing at a blistering rate. Despite the largest decline in primary global energy consumption since World War II, global renewable energy consumption grew by 9.7% in Continue Reading
Oil Edges Higher as Supply Concerns Eclipse Fed’s Rate Stance
Oil climbed as traders weighed risks to the supply outlook against pledges from leading central banks to raise interest rates further. West Texas Intermediate rose toward $94 a barrel, reversing Continue Reading
Fake News Or Fundamentals: What’s Driving Oil Prices?
Multiple OPEC+ officials have spoken out about the negative impact of “fake news” on oil markets, suggesting it has driven a disconnect between fundamentals prices. Standard Chartered believes these comments Continue Reading
Tripoli calm, Libya riven after worst fighting in years
Charred cars and buildings pockmarked by bullets scarred Libya’s capital on Sunday, the day after intense fighting killed 32 people yet appeared to leave the Tripoli government more firmly entrenched. Continue Reading
Violent Clashes in Libya Reignite Fears of Civil War
Deadly clashes in Tripoli, Libya, erupted over the weekend between armed groups loyal to rival political leaders. The oil-rich nation has been racked with violence since 2011. Photo: Hazem Ahmed/Reuters Continue Reading
Iran May Drain Offshore Oil Cache If Nuclear Deal Reached
Progress toward an Iranian nuclear deal has thrown the spotlight onto a sizeable cache of crude held by Tehran that could be swiftly dispatched to buyers in the event an Continue Reading
Analysis: U.S. and Iran finesse issue of IAEA’s nuclear probes, for now
The United States and Iran have found a way to address the U.N. nuclear watchdog’s investigations of Tehran’s atomic program that allows both to claim victory for now but delays Continue Reading
Iran Is Ready To Release Millions Of Barrels Of Oil Into The Market
Iran has considerable volumes of oil in floating storage that it could quickly release should a deal with the United States be finalized. In an update earlier this month, OilX Continue Reading