OPEC+ might have to raise oil production to avoid market overheating, OPEC+ member Kazakhstan said on Wednesday, as the group of oil producers meets amid U.S. pressure to add barrels Continue Reading
Iraq is stuck in a purgatory of caretaker governance — unable to make strategic decisions in the oil sector and beyond — as political leaders in Baghdad escalate their 10-month Continue Reading
Total rice planted area has shrunk 13% due to lack of rainfall Traders are concerned that India may restrict rice exports Workers clean rice paddy at a wholesale market in Continue Reading
Highlights Cabinet approves $1.6 billion investment to develop oil block in Brazil New Delhi open to equity oil opportunities in other Latin American countries India’s aging fields struggling to keep Continue Reading
Outages disrupting Venezuela’s power and gas supplies to state-run energy firm PDVSA hit July oil exports, contributing to a 27% fall from the previous month, according to Refinitiv Eikon vessel Continue Reading
Venezuela’s crude oil exports fell in July, Refinitiv Eikon data showed on Tuesday, as oil markets are on the prowl for additional oil supplies to ease the tight market. Venezuela’s Continue Reading
Pelosi’s Taiwan Trip Spurs China Battery Giant to Pause Plant Debut A giant Chinese supplier of electric-vehicle batteries decided to push back announcing a multibillion-dollar North American plant to supply Continue Reading
Top U.S. shale oil producers say they remain laser focused on shareholder returns, limiting production expenditures largely to offset higher costs for equipment, supplies and services. The decision likely will Continue Reading
California water prices are at all-time high as a severe drought chokes off supplies to cities and farms across the Golden State. The price of water on the Nasdaq Veles Continue Reading
After a miserably hot summer across much of the country, don’t expect August to bring relief. Only the Southwest and Alaska are forecast to have cool or average temperatures over 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
Amid a global semiconductor shortage, and as lawmakers dithered over a bill to boost U.S.-based chip manufacturing, Intel went to the Biden administration with a proposal that some officials found Continue Reading
The U.S. shale patch has been disappointing shareholders for over a decade now, struggling to return profits to investors. This year, all of that is going to change as the Continue Reading
U.S. gas prices hit at a 14-year seasonal high as the country battles persistent high temperatures. U.S. gas prices hit at a 14-year seasonal high as the country battles persistent Continue Reading
U.S. companies are reporting mostly upbeat news this earnings season, surprising investors who had been bracing for a gloomier outlook on both businesses and the economy. More than halfway into Continue Reading
The EU is weighing accelerating the development of manure-based fertilizers to limit reliance on Russian-made alternatives and the gas needed for domestic production. The Spanish and Dutch governments are “opening Continue Reading
France experienced its driest July on record as searing heat spread across Europe, putting strain in key crops. The average precipitation across the country was 8.1 millimeters (0.3 inches), making Continue Reading
The German government will have to amend its energy security law again in September as its gas levy cannot yet be imposed on all consumers, including those with fixed prices Continue Reading
Dust and mud is clogging the filters on a key pipeline sending natural gas from the UK to Europe, slowing down flows as the winter crunch time approaches. The operator Continue Reading
Fanning out like urban guerrillas through Paris’ darkened streets well after midnight, the anti-waste activists shinny up walls and drain pipes, reaching for switches to turn off the lights. Click. Continue Reading
A serious shortage of natural gas supplies could trigger “a chain reaction with unforeseeable consequences” for the German economy, said Commerzbank, one of the country’s biggest corporate lenders. The German Continue Reading
Highlights Turbine is ready to be transported to Russia: Scholz All relevant documentation prepared, needs Russian approval Nord Stream running at just 20% of capacity since July 27 German Chancellor Continue Reading
Oil held its decline, after closing at the lowest level in more than five months, as traders counted down to an OPEC+ meeting on supply amid signs that physical markets Continue Reading
Oil slipped on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as OPEC+ producers meet this week to decide Continue Reading
Oil prices dropped on Monday, as weak manufacturing data from China and Japan for July weighed on the outlook for demand, while investors braced for this week’s meeting of officials Continue Reading
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… The price of energy has Continue Reading
OPEC pumped an extra 310,000 barrels of oil per day in July as rising supply from the Gulf offset outages in Nigeria and Libya, a Reuters survey showed on Monday, Continue Reading
Lebanon’s armed Hezbollah group threatened Israel that drilling at the Karish gas field could result in war. Israel and Lebanon are in a years-long dispute over the demarcation of their Continue Reading
Saudi Arabia recorded a GDP growth rate of 11.8 percent for the second quarter, driven by a 23.1-percent rise in oil income, according to preliminary data cited by Reuters. The Continue Reading
Iraq’s state-owned Basra Oil Company (BOC) has told international oil companies not to work with four major oil services companies operating in Iraqi Kurdistan — the first sign that the Continue Reading
Libya’s crude production has returned to 1.2 million b/d after the lifting of force majeure on oil fields and exports on July 15, state-owned National Oil Corp. said July 31, Continue Reading
ADNOC awarded $2 billion worth of drilling contracts for Hail and Ghasha sour gas projects. The UAE is looking to achieve self-sufficiency in natural gas production. The contracts are part Continue Reading
China’s “precarious” debt trajectory and its slowing population growth mean it could be eclipsed by India as the world’s most important buyer of minerals in a decade, according to Dambisa Continue Reading
Emerging economies in Asia face prolonged electricity crises and continued rolling blackouts as spot LNG prices surge and high demand from Europe is pricing Southeast Asia out of the tight Continue Reading
Beijing reluctant to spend its way out of real-estate troubles Goldman sees steel demand heading for 5% decline this year Bloomberg News China’s steel industry is entering a precarious new Continue Reading
The United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars’ in Iranian oil and petrochemical products to East Continue Reading
Six years ago, China suffered a severe natural gas shortage and has since been very careful to ensure it has as much gas as it needs before winter. One of Continue Reading
Shoppers inside a grocery store in San Francisco, California.Photographer: David Paul Morris/Bloomberg The official arbiters of US recessions look at six monthly indicators in determining whether the nation is indeed Continue Reading
U.S. manufacturing activity slowed less than expected in July and there were signs that supply constraints are easing, with a measure of prices paid for inputs by factories falling to Continue Reading
The U.S.emergency crude oil stockpile fell by 4.6 million barrels last week its lowest level since May 1985, according to the Department of Energy on Monday. Crude held in the Continue Reading
Power use in Texas will break records again this week as homes and businesses crank up their air conditioners to escape another heatwave, the state’s power grid operator projected on Continue Reading
The national average for a gallon of gasoline in the United States fell again on Monday to $4.212, according to AAA data. U.S. gasoline prices are down 14.3 cents from Continue Reading
ExxonMobil has announced an estimated second-quarter 2022 earnings of $17.9 Bn. A record quarter for the company. U.S. oil supermajor ExxonMobil has announced an estimated second-quarter 2022 earnings of $17.9 Continue Reading
Manchin Pitches Sinema on Democrats’ Tax-Climate Bill The climate and tax spending deal announced last week by Senate Majority Leader Chuck Schumer and Senator Joe Manchin could cost billions in Continue Reading
If signed into law, the bill’s hefty tax incentives for low-carbon technologies could enable the country to cut its net greenhouse gas emissions by roughly 40 percent below 2005 Continue Reading
Hot weather and high gas prices in Texas and the Southeast are posing a renewed threat to gas storage in the US South Central region as strong spot gas demand Continue Reading
A new study from Juniper Research forecasts that the volume of electric vehicle battery pack shipments will reach 30 million in 2027 up from 10 million in 2022. The research Continue Reading
News that his ship would be allowed to leave the Ukrainian port of Odesa carrying grain was the “best feeling” of the year, a joyful crew member said on Monday, Continue Reading
Germans more often than not choose to be cremated when they die – which would be a problem if Russia turns off the gas. As Western sanctions heighten tensions between Continue Reading
Baker Hughes (BKR.O) said on Monday it signed a deal to sell its oilfield services (OFS) business in Russia to the local management team, months after stopping new investments in Continue Reading
