Kashagan producing around 100,000 b/d, quarter of normal rate Ruptured pipe sent for checks as corrosion fears resurface Ongoing disruption limiting CPC Blend exports Production at Kazakhstan’s second-highest producing oil Continue Reading
On a recent scorching afternoon in his home state of Tabasco, the president of Mexico celebrated his government’s latest triumph: a new oil refinery. Though not yet operational, President Andrés Manuel Continue Reading
‘There has been an increase in the cadence of incidents in the Gulf of Mexico’. Dryad Global’s latest Maritime Security Threat Advisory (MSTA) has outlined that the Gulf of Mexico Continue Reading
China’s refinery processing and crude imports were unambiguously weak in July, but the world’s largest oil importer still added to stockpiles, maintaining a trend of building inventories. China added about Continue Reading
For the past two decades, China has conditioned global companies and markets to anticipate big government spending at any hint of an economic slowdown. Now, as growth sputters, Beijing is Continue Reading
The southwestern Chinese province of Sichuan is baking in the worst heatwave in six decades, with hydropower generation from the Yangtze River falling and factories closing to ease the pressure Continue Reading
China is scrambling to alleviate power shortages and bring more water to the drought-hit basin of the Yangtze river as it battles a record-breaking heatwave by deploying relief funds, seeding Continue Reading
China’s southwestern province Sichuan began limiting electricity supply to homes, offices and malls on Wednesday, due to a severe power crunch driven by extreme heat waves and drought, according to Continue Reading
As the historic drought in the U.S. Southwest pushes the nation’s largest reservoirs to record lows, the Biden administration Tuesday announced that water shortages along the Colorado River had passed a threshold for the Continue Reading
U.S. shale oil producers are in line to suffer more than $10 billion in derivative hedging losses this year. E&Ps typically employ derivative hedging to limit cash flow risks and Continue Reading
U.S. oil reserves held by 50 large companies rose by 13% over the five years ended in December, according to an Ernst & Young report released on Wednesday, with mergers Continue Reading
A look at the influencers who secured a rare climate win. It was the middle of July — with temperatures surging through one of the hottest summers in US history, Continue Reading
American Airlines will potentially order up to 100 of ZeroAvia’s hydrogen-electric engines for use in regional planes. The case for using hydrogen on very short flights is looking stronger. Investors Continue Reading
The American Petroleum Institute (API) reported a draw this week for crude oil of 448,000 barrels, while analysts predicted a smaller draw of 117,000 barrels. The draw comes as the Continue Reading
American Airlines Group Inc (AAL.O) on Tuesday agreed to buy up to 20 jets from aircraft maker Boom Supersonic, becoming the second major U.S. airline to bet on ultra-fast passenger Continue Reading
A second shipment of crude from a U.S. Gulf of Mexico offshore field has sailed for Germany, according to vessel tracking data and trade sources on Tuesday, as European refiners Continue Reading
The Isar nuclear-power plant in Essenbach, Germany, is one of the last nuclear plants still operating in the country. BERLIN—Germany plans to postpone the closure of the country’s last three Continue Reading
As Europe looks to secure alternative energy sources to Russian gas in light of the war in Ukraine , Statista’s Anna Fleck warns , a new threat to energy security Continue Reading
Year-ahead electricity prices continue to soar in Europe, with German power prices, the European benchmark, jumping to over $508 (500 euro) per megawatt-hour on Tuesday amid low Russian gas supply Continue Reading
As the EU grapples with an energy crisis and seeks alternatives to Russian pipeline gas, the bloc plans to increase its financial support to a military mission in Mozambique – Continue Reading
Russia’s gas giant Gazprom said on Tuesday that its natural gas exports slumped by 36.2 percent to 78.5 billion cubic meters between January and the middle of August, as deliveries Continue Reading
TTF front month opens at Eur230/MWh on Aug 16 Difficult to understand this market: trader Winter 23 contracts up 51% since July 1 European natural gas assessments at the benchmark Continue Reading
Switzerland is to launch negotiations on the use of reserve power plants, the government said on Wednesday, as part of plans to bolster energy security for the coming winter. The Continue Reading
Oil prices fell by more than $3 a barrel on Monday on concerns over demand in China, the world’s largest crude importer, and ahead of Iran’s response to a nuclear Continue Reading
U.S. crude prices on Monday extended a run of declines that have erased all gains since the Russian invasion of Ukraine and highlighted concerns about the impact of slowing global Continue Reading
An oil pump jack in a Central California field. Increased domestic production is one factor behind the decline in oil prices.Credit…Alisha Jucevic for The New York Times When Russia invaded Continue Reading
Despite a ninth consecutive week of falling gasoline prices in the United States, the streak of declines could soon see its end as wholesale gasoline prices have rebounded in recent Continue Reading
Barclays lowered its Brent price forecasts on Tuesday by $8 per barrel for 2022 and 2023, as it expects a large surplus of crude oil over the near-term due to Continue Reading
In 1990 Congress passed an amendment to the Clean Air Act of 1970, among other things taking action against acid rain, urban smog and ozone. The legislation was highly successful, greatly Continue Reading
Iraq’s most vulnerable citizens are the hardest hit by dust storms, which are growing in frequency and intensity due to both global climate change and government inaction. View full article Continue Reading
Saudi Arabia is snapping up U.S. stocks as the kingdom enjoys its strongest financial situation in years. DUBAI—Saudi Arabia’s sovereign-wealth fund has invested $7.5 billion in blue-chip American companies from Continue Reading
Iran on Monday said there were several issues with the nuclear-deal draft text that the U.S. needs to address before Tehran can agree to it, leaving the fate of the Continue Reading
The prospect of an imminent new “nuclear deal” between the West and Iran is looking increasingly unlikely. A senior political and oil industry analyst highlights that there is very little Continue Reading
A young Kurdish man was killed and two others were wounded Monday in a confrontation between armed protesters and security forces guarding an oil camp east of Erbil. Eyewitnesses, security Continue Reading
China’s economy stumbled in July as a two-month boost from easing lockdowns faded, prompting the country’s central bank to unexpectedly cut two key interest rates in an effort to shore Continue Reading
China will discourage abortions and take steps to make fertility treatment more accessible as part of efforts to boost one of the world’s lowest birth rates, its National Health Authority Continue Reading
Delivery drivers pass through a security checkpoint as several city blocks are sealed off due to Covid-19 in the Meilong township of Shanghai, China, on Aug. 15. Photographer: Qilai Shen/Bloomberg Continue Reading
Crude throughput at Chinese refineries slumped in July to the lowest level since the height of the pandemic in March 2020, amid unplanned facility outages and lower processing rates at Continue Reading
U.S. natural gas futures fell about 1% on Monday on rising supplies and forecasts for cooler weather and lower air conditioning demand over the next two weeks than previously expected. Continue Reading
The historic US climate deal that has now passed both chambers of Congress is being touted as one of the most ambitious decarbonization commitments made by any government to date. Continue Reading
TerraPower, a company working on small-scale nuclear reactor development backed by Bill Gates, has raised $750 million in investment, including from South Korea’s second-largest conglomerate, to pursue its plan to Continue Reading
The federal government on Tuesday is expected to announce water cuts to states that rely on the Colorado River as drought and climate change leave less water flowing through the Continue Reading
Electrification of the U.S. creates a huge challenge for the aging grid. Upgrading the grid isn’t just a question of investing more money. Resistance from states and localities may cause Continue Reading
The largest shale basin in the United States, the Permian, is on track to hit a record 5.408 million barrels per day next month, with production set to rise by Continue Reading
Anticipating electricity supply shortages well into 2026, California Governor Gavin Newsom has proposed allowing the state’s last-remaining nuclear power plant to continue operations beyond its 2025 planned shutdown. The package Continue Reading
Highlights Excessive heat watch issued for inland California CAISO thermal generation up 27% month over month Southern California spot gas benchmark SoCal, city-gate climbed above $12/MMBtu for the first time Continue Reading
Tax credits in the $430 billion U.S. climate and tax bill set to be signed into law this week will kickstart carbon sequestration projects, say oil and gas proponents, offsetting Continue Reading
German households will have to pay almost 500 euros ($509) more a year for gas after a levy was set to help utilities cover the cost of replacing Russian supplies, Continue Reading
German Economy Minister and Vice Chancellor Robert Habeck arrives to address the media after the announcement of the gas levy at Federal Ministry for Economic Affairs and Climate Action, in Continue Reading
Germany’s Schwedt oil refinery has started processing US crude blended with Russian Urals, according to a person familiar with the matter. US crude brought in from Rostock on Germany’s Baltic Continue Reading
