Decades of corruption, mismanagement, and poor maintenance have led to a huge drop in Venezuela’s refining capacity. Iran has helped Venezuela to ease its still ongoing fuel crisis. Venezuela needs Continue Reading
China fuel demand could drop 380,000 bpd in 2022 -Energy Aspects Crude imports down 4.7% for Jan-Aug, 1st period drop since at least 2004 Road congestion down 50% in COVID-locked Continue Reading
Customers refuel at a gas station in Concord, California. Photographer: David Paul Morris/Bloomberg Californians can’t get a break. A dangerous heat wave is raising the risk of blackouts in the Continue Reading
The Charles River in MassachusettsPhotographer: Brian K. Sullivan/Bloomberg It’s barely September, but crops are withering and brown leaves carpet the ground. Forests are bursting into flames. An iconic river is, Continue Reading
Key wheat producing regions in Australia to see favorable weather France, Germany to receive rains in next few days Brazil, Argentina also set to witness rains Late sporadic rains in Continue Reading
Highlights Permian adds most rigs: up 3 to 347 Even Permian growth may be slow in H2-22 The US oil and gas rig count rose by three to 871 on Continue Reading
In 2007, the U.S. Congress mandated the blending of biofuels such as corn-based ethanol into gasoline. One of the top goals: reducing greenhouse gas emissions. But today, the nation’s ethanol Continue Reading
President Vladimir Putin said on Wednesday he wanted to discuss reopening a U.N.-brokered deal that allows Ukraine to export its grain via the Black Sea after accusing Kyiv and the Continue Reading
As Russia struggles to maintain its offensive in Ukraine, Putin is attempting to leverage the country’s vast energy influence to squeeze the West. Putin’s aggressive use of energy exports is Continue Reading
The UK’s new Prime Minister is set to unveil a substantial energy support package. The package will encourage North Sea drilling and potentially lift a ban on fracking. While Truss Continue Reading
British households will have their annual energy bills capped at £2,500 for two years in a £130bn+ scheme that will save consumers thousands of pounds. Prime Minister Liz Truss said Continue Reading
Iraq’s nationwide oil sales fell in August for the second consecutive month, declining to 3.667 million barrels per day (bpd).* Federal exports through the northern pipeline to Turkey dropped by Continue Reading
Highlights Move sets foundation for gas self-sufficiency: Cuadrilla Ineos renews offer to drill test shale gas well in UK Egdon pledges to deliver shale gas in ‘timely fashion’ A number Continue Reading
Swiftly advancing Ukrainian troops were bearing down on the main railway supplying Russian forces in the east on Friday, after the collapse of a section of Russia’s front line caused Continue Reading
European Union energy ministers met on Friday to seek agreement on ways to shield citizens from sky-high energy prices and prevent power utilities from collapsing as Russia has gradually turned Continue Reading
Russia warned the West on Friday that plans to try to cap the price of Russia’s oil and gas exports in retaliation for the war in Ukraine would fail and Continue Reading
European governments are drafting drastic measures to cut energy demand and survive the winter without natural gas from Russia. That’s going to be a huge challenge. Gas prices have eased Continue Reading
EU energy ministers are looking at steps to prevent Russia’s gas supply cutoff from unleashing rationing, blackouts or even social unrest. Maria Tadeo reports. Natural gas prices dropped, with the Continue Reading
The Olkiluoto-3 nuclear reactor plant in Finland. Power output at Europe’s newest reactor exceeded a landmark 1,000 megawatts on Friday morning just as the power market needs all the megawatts Continue Reading
European energy ministers are debating plans for an intervention in the continent’s energy markets at an emergency meeting that is aimed at tamping down soaring electricity prices . Diplomats said Continue Reading
It was the summer of 2022 that finally orphaned the Scex Rouge glacier, breaking the connection that linked it to its larger parent for millennia. Only last year, three meters Continue Reading
Oil steadied after slumping Wednesday with investors assessing global demand as China pushes on with its Covid Zero policy and central banks tighten monetary policy to fight inflation. West Texas Continue Reading
Oil prices fell on Thursday, extending sharp losses from the previous session, as China’s extension of lockdown measures to curb the COVID-19 spread exacerbated concerns that a slowdown in economic Continue Reading
Oil prices rose on Wednesday on threats that Russia will walk away from its energy supply contracts, reversing losses from earlier in the session when prices fell to their lowest Continue Reading
A drought in China has had ripple effects for businesses around the globe.Credit…Thomas Peter/Reuters Chinese factories were shuttered again in late August, a frequent occurrence in a country that has Continue Reading
On most days in the Iraqi capital, jackhammers and electric drills provide the soundtrack to a construction boom, with multistory restaurants taking shape and a new $800 million central bank Continue Reading
The Iranian nuclear deal will be agreed to by the end of September. That’s Fitch Solutions Country Risk & Industry Research’s core view, according to a report sent to Rigzone Continue Reading
Tens of millions of Chinese confined at home, schools closed, businesses in limbo and whole cities at a standstill. Once again, China is locking down enormous parts of society, trying Continue Reading
Tesla (TSLA.O) sold 76,965 Chinese-made vehicles in August, nearly triple its sales from a month ago, as it quickened deliveries after ramping up output at its Shanghai plant. The U.S. Continue Reading
China’s imports of major commodities were mixed in August, with ongoing weakness in crude oil and natural gas but strength in coal and copper. However, where recovery was evident, probably Continue Reading
Debt sales in dollars are running at their lowest in 11 years Bloomberg News China has surged ahead of the US for corporate bond deals in its yuan credit market Continue Reading
Forecast Highlights Global liquid fuels The Brent crude oil spot price in our forecast averages $98 per barrel (b) in the fourth quarter of 2022 (4Q22) and $97/b in 2023. Continue Reading
While the electric car is undoubtedly the darling of the electric vehicle industry, it is by no means the only vehicle that engineers are determined to electrify. The electric boat Continue Reading
Highlights September output averages over 96.6 Bcf/d US rig count near 34-month high at 868 NYMEX 2022 futures dip to low- to mid-$8s US natural gas production is on a Continue Reading
In 2007, the U.S. Congress mandated the blending of biofuels such as corn-based ethanol into gasoline. One of the top goals: reducing greenhouse gas emissions. But today, the nation’s ethanol Continue Reading
Wholesale gasoline prices are expected to keep falling in coming months as U.S. refiners overproduce fuel to try to rebuild low stocks of diesel and heating oil, according to analysts Continue Reading
Canadian airlines face potentially higher costs as new rules that take effect on Thursday broaden passenger refund requirements to cases of canceled or long-delayed flights outside of carriers’ control, an Continue Reading
The European Union proposed a price cap on Russian gas on Wednesday after President Vladimir Putin threatened to cut off all energy supplies if it took such a step, raising Continue Reading
German Economy Minister Robert Habeck faced a backlash on Wednesday for saying he could imagine parts of the economy stopping production due to rising energy prices that German firms say Continue Reading
Truss to announce energy support plan on Thursday New PM rules out windfall tax on power firms Sterling falls to lowest since 1985 against U.S. dollar Kwarteng says borrowing will Continue Reading
Shelling resumed near Ukraine’s Zaporizhzhia nuclear power plant with the warring sides trading blame again on Wednesday, a day after the U.N. atomic watchdog agency pressed for a safe zone Continue Reading
Britain’s new energy minister, Jacob Rees-Mogg, is one of the most recognizable politicians in Britain, known for his old-fashioned double-breasted suits, an exaggerated upper-class accent and a love of archaic Continue Reading
Not long after Russian forces invaded Ukraine, another mobilization began. European energy ministers and diplomats started jetting across the world and inking energy deals — racing to prepare for a Continue Reading
Banks across Europe are bracing for energy rationing and possible power outages this winter by getting backup generators ready so that they won’t leave bank transactions and ATMs in the Continue Reading
Britain’s new leader Liz Truss capped soaring consumer power bills for two years on Thursday in a package to limit the economic shock of war in Ukraine that could cost Continue Reading
President Vladimir Putin said on Wednesday he wanted to discuss reopening a U.N.-brokered deal that allows Ukraine to export its grain via the Black Sea after accusing Kyiv and the Continue Reading
Germany plans to subsidise a basic level of electricity usage for households and set aside cheaper power for small and medium-sized businesses, according to measures set out in an Economy Continue Reading
The first ship to bring a cargo of liquefied natural gas (LNG) to a new terminal at the Dutch port of Eemshaven has docked and has started the unloading process, Continue Reading
France’s economy is set to grow by 0.3% in the third quarter, with business leaders expecting activity to pick up further in September despite concerns over energy deliveries and inflation, Continue Reading
Russia’s Economic Pain Will Last Years, Adeyemo Says Bloomberg News Russia may face a longer and deeper recession as the impact of US and European sanctions spreads, handicapping sectors that Continue Reading
