China’s largest utility will soon begin the construction of some $22 billion of new long-distance, ultra-high-voltage transmission lines to connect more wind and solar installations to the grid. State Grid Continue Reading
Soy crushing plants reduce operations amid sharp losses China’s soybean demand projections revised down for August But soybean oil entering stronger demand season in the month The operating rate at Continue Reading
U.S. distillate fuel oil inventories are depleting to critically low levels; either an imminent recession reduces consumption or prices are likely to surge higher. Distillate fuel oil is the lifeblood Continue Reading
A drop in US jet fuel consumption verifies what travelers have felt for months: Airlines haven’t been able to keep up with summer travel demand. Carriers contending with labor shortages Continue Reading
A pipe for carbon dioxide captured from the emissions of a generating station in Thompsons, Texas. Photographer: Luke Sharrett/Bloomberg A week after US Senate Majority Leader Chuck Schumer and Senator Continue Reading
Two top forecasters are trimming their Atlantic hurricane outlooks slightly after a slow start to the season, but still predict an above-average number of storms. The US National Oceanic and Continue Reading
A person cooled off in a mister set up in lower Manhattan in New York City on Thursday as a heat wave hit the area. High temperatures in the Northeast Continue Reading
Senator Kyrsten Sinema, Democrat of Arizona, announced on Thursday evening that she would support moving forward with her party’s climate, tax and health care package, clearing the way for a Continue Reading
Nearly two dozen Republican state treasurers around the country are working to thwart climate action on state and federal levels, fighting regulations that would make clear the economic risks posed Continue Reading
Sen. Kyrsten Sinema (D-Ariz.) said she would soon be ready to “move forward” on a revised version of Senate Democrats’ health-care, climate and deficit-reduction package, opening the door for party Continue Reading
U.S. oil and gas dealmaking contracted 65% Y/Y to $12 billion last quarter. Big Oil executives have become increasingly hesitant to pull the trigger after the last M&A wave turned Continue Reading
An indication of demand destruction, US steam coal exports fell 15.2% on the year in June as the CIF ARA monthly average price more than tripled to $371.02/mt, according to Continue Reading
ConocoPhillips has reported a rise in second-quarter 2022 earnings. The company earned $5.1 billion compared with second-quarter 2021 earnings of $2.1 billion. U.S. supermajor ConocoPhillips has reported a rise in Continue Reading
A stand-off over the return of a turbine that Russia says is holding back gas supplies to Europe showed no sign of being resolved on Thursday, with Moscow saying it Continue Reading
Germany’s cabinet has agreed to introduce a planned levy on gas consumers from October to help suppliers hit by soaring gas import prices caused by Russia’s invasion of Ukraine, the Continue Reading
German unit of refiner OMV: There is a run on fuels such as diesel and heating oil in the southern parts of Germany. Critically low water levels of the river Continue Reading
An employee monitors for gas leaks at the Uniper SE Bierwang Natural Gas Storage Facility in Muhldorf, Germany. Photographer: Krisztian Bocsi/Bloomberg German power prices rose to a record as utilities Continue Reading
The number of UK companies at risk of collapse rose by more than a third in the second quarter as surging inflation continued to erode margins. Almost 2,000 companies were Continue Reading
The famously green UK capital is now covered in fields of yellow after weeks of unusual heat and a lack of rain. Greenwich Park in London, on Aug. 3. Photographer: Continue Reading
The battle between Asia and Europe to lock in gas supplies is stepping up a gear, heightening the risks of a further surge in prices that would add fresh fuel Continue Reading
Russian forces at Ukraine’s Zaporizhzhia nuclear power plant have likely undermined the security and safety of the plant’s operations, the UK’s defence ministry says. Europe’s largest nuclear plant has been Continue Reading
Oil steadied after plunging to the lowest close in almost six months as investors weighed weaker US gasoline demand and rising inventories against a token supply increase from OPEC+. West Continue Reading
Crude oil futures were higher in mid-morning Asian trade Aug. 4, rebounding from five-month lows after bearish US oil data and supply increases from OPEC+ sent oil prices plummeting to Continue Reading
Oil prices were broadly steady on Thursday as the market weighed tight supply against demand fears, after a build in U.S. crude and gasoline stocks sent prices to multi-month lows Continue Reading
The cement, glass and steel that give shape to urban life have also turned modern cities into dangerous heat sinks. Scorching sunlight gets absorbed, stored and slowly emitted in a Continue Reading
Libya’s oil production is bouncing back from the latest oil blockade that was triggered in the aftermath of failed elections. Libya’s oil production reached 1.2 million barrels per day after Continue Reading
The 31st OPEC and non-OPEC ministerial meeting, which was held via videoconference on Wednesday, offered several warnings. The 31st OPEC and non-OPEC ministerial meeting, which was held via videoconference on Continue Reading
While Iran says it isn’t trying to build nuclear weapons, a look at its key facilities suggests it could develop the technology to make them. WSJ breaks down Tehran’s capabilities Continue Reading
“I want to give my family the best I can afford. We cannot just stay and survive. We really want to live,” Tam G (not his real name) said. “This Continue Reading
Near-record amounts of seaweed are smothering Caribbean coasts from Puerto Rico to Barbados, killing fish and other wildlife, choking tourism and releasing stinky, noxious gases. More than 24 million tons Continue Reading
Note: According to Reuters’ sources, CATL is pressing ahead with plans to deliver lower-cost lithium iron batteries to Ford Motor Co. and with plans for battery production in North America Continue Reading
– The West’s energy giants are set to return a record $30 billion to investors after reporting bumper profits in the second quarter of the year following a surge in Continue Reading
Intensifying Texas heat is poised to test the power grid on Thursday with demand seen topping 80 gigawatts for the first time ever. Ample winds twirling turbines are expected to Continue Reading
Americans are officially driving less than they did in the summer of 2020, when pandemic travel restrictions all but halted movement. The four-week average of US gasoline consumption — the Continue Reading
The Western US is an empire built on snow. And that snow is vanishing. Since most of the region gets little rain in the summer, even in good years, its Continue Reading
Global demand for oil has fallen in recent weeks as economic growth has slowed around the world, including in China , analysts said. Demand data and consumer surveys also suggest Continue Reading
Crude oil prices fell today after the Energy Information Administration reported a build in crude oil inventories of 4.5 million barrels for the week to July 29. This compared with Continue Reading
Operator sticks to early October target for partial restart Shutdown of 15 million mt/year export facility impacting market Freeport LNG has reached an agreement with US regulators on certain corrective Continue Reading
The shrinking discount of U.S. crude to Brent and rising Canadian oil imports this month will send more barrels to the top U.S. oil storage hub, continuing a recent supply Continue Reading
German Chancellor Olaf Scholz on Wednesday said Russia had no reason to hold up the return of a gas turbine for the Nord Stream 1 pipeline that had been serviced Continue Reading
Gazprom (GAZP.MM) will receive 50% of a new Russian entity replacing the Sakhalin Energy liquefied natural gas (LNG) project, Russian news agencies reported on Wednesday, citing a government decree. Interfax Continue Reading
An oilfield near Neftekamsk, in the Republic of Bashkortostan, Russia. Source: Bloomberg Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Russia appears Continue Reading
German Chancellor Olaf Scholz said for the first time that his government could postpone the planned closure of its remaining nuclear reactors, as he criticized a decision by Russia to Continue Reading
Electricite de France SA, France’s state-owned utility, announced on Tuesday that it is highly likely it will be forced to extend cuts to nuclear generation as scorching weather pushes up Continue Reading
Russia registered 17,126 new cases of coronavirus in the last 24 hours, the highest daily increase since April 2, the country’s anti-pandemic taskforce said in a statement. The taskforce said Continue Reading
Europe gas storage 70% full, surpassing 5-year average Filling EU tanks to targets costs 50-55 bln euros-analysts Europe raised LNG imports to compensate for reduced Russia flows Despite building up Continue Reading
Oil prices dipped on Wednesday ahead of a meeting of OPEC+ producers at which producers are expected to keep output steady with spare capacity limited and against the backdrop of Continue Reading
The American Petroleum Institute (API) reported a surprise build this week for crude oil of 2.165 million barrels, while analysts predicted a draw of 467,000 barrels. The build comes as Continue Reading
Despite expectations of an economic slowdown, diesel demand appears to be rising unabated. For some countries around the world, diesel shortages are already a reality, and European countries are racing Continue Reading
Highlights Main producing field, Greater Burgan, is aging Kuwait has been averse to foreign investment But $1 billion loan deal with Japan could help Kuwait is close to exhausting its Continue Reading
