U.S. Gulf Of Mexico Can Help Fill Global Oil Supply Gap
The U.S. Gulf of Mexico may be one of the world’s most mature deepwater basins, but it still has a lot of potential to expand. The deepwater U.S. Gulf of Continue Reading
France to re-evaluate MidCat gas pipeline across Pyrenees with open mind, Portugal says | Reuters
France is willing to re-evaluate its opposition to the proposed MidCat natural gas pipeline across the Pyrenees mountains amid the energy crisis in Europe, Portugal’s secretary of state for EU Continue Reading
Analysis: Russia’s Ukraine gas transit sanction threat a fresh blow for Europe
If Moscow carries out a threat to sanction Ukrainian energy firm Naftogaz, one of the last functioning Russian gas supply routes to Europe could be shut, exacerbating the energy crisis Continue Reading
Study: Heat wave led to unprecedented melt of Swiss glaciers
Switzerland’s glaciers are melting like never before, an academic study released Wednesday found, with their ice volume declining by 6% this year amid rising concerns about global warming and a Continue Reading
Russia’s Mobilization, Plunging Oil Prices Weaken Putin’s Economic Hand
People bid farewell to reservists drafted during the partial mobilization in the Omsk region, Russia. A costly troop mobilization , plunging energy prices and a new round of Western sanctions Continue Reading
E.U. Moves to Impose New Sanctions to Punish Russia for ‘Sham’ Referendums
The Pentagon said on Wednesday it would send an additional $1.1 billion in long-term military aid to Ukraine, including 18 High Mobility Artillery Rocket System launchers, or HIMARS, one of Continue Reading
Meeting in Brussels Signifies a Turning Point for Allies Arming Ukraine
n a sign that the United States and its allies believe that the fighting in Ukraine will last years, military officials from more than 40 countries gathered at NATO’s headquarters Continue Reading
UK Food Inflation Swells To Highest Rate Ever Recorded
Food inflation has soared to the highest rate ever recorded. Fresh food swelled to 12%, while the price of animal feed and fertilizer climbed even higher. Shoppers are expected to Continue Reading
Fourth leak found on Nord Stream pipelines, Swedish coastguard says
Sweden’s coastguard said on Thursday it had discovered a fourth gas leak on the damaged Nord Stream pipelines earlier this week, after ruptures first reported on Monday sent gas spewing Continue Reading
British Retail Facing ‘Mortgage Time Bomb,’ Deutsche Bank Warns
UK retailers are facing a “mortgage time bomb,” with rising interest rates set to have twice the impact on consumer finances as the recent surge in utility bills, according to Continue Reading
Germany will enter recession next year, say leading economists
A new forecast by Germany’s leading economic institutes predicts the eurozone’s largest economy will slip into recession next year, triggered largely by a “drastic” increase in energy costs caused by Continue Reading
Russia to formally annex four more areas of Ukraine
Russia’s Vladimir Putin will hold a signing ceremony on Friday formally annexing four more areas of Ukraine after conducting self-styled referendums condemned by Ukraine and the West as a sham. Continue Reading
Oil prices stable as soaring dollar offset by U.S. output outages
Oil prices were broadly stable on Wednesday as pressure from a strengthening dollar and crude storage builds was offset by U.S. production cuts caused by Hurricane Ian. Brent crude futures Continue Reading
Oil Halts Two-Day Slide on Report of Russia Pushing for Oil Cuts
Oil rallied after a report that Russia will advocate for OPEC+ nations to cut production, heightening supply concerns as deadlines to implement Russian fuel bans approach. West Texas Intermediate rose Continue Reading
Oil rises from 9-month low on U.S. Gulf supply cuts, softer dollar
Oil rose more than 1% on Tuesday from a nine-month low a day earlier, supported by supply curbs in the U.S. Gulf of Mexico ahead of Hurricane Ian and a Continue Reading
Gasoline Draw Sends Oil Prices Higher
The American Petroleum Institute (API) reported a build this week for crude oil of 4.150 million barrels, while analysts predicted a build of 333,000 barrels. According to API data, U.S. Continue Reading
Goldman Sachs Drops Oil Price Forecast
Goldman Sachs cut its oil price forecast on Tuesday on the deteriorating global economic outlook—although it remained bullish on oil. Goldman said it remained bullish, anticipating that oil prices would Continue Reading
Nord Stream Gas Leaks Could Be ‘Unprecedented’ Climate Disaster
The 700-meter wide pool of bubbling water in the Baltic Sea caused by the rupture of the Nord Stream gas pipelines points to a climate disaster. It’s the most visible Continue Reading
Russia At The Forefront Of Development Of Huge Iranian Oil Fields
Iran fast-tracks development of two West-Karoun oil fields with $7 billion plan. The Azadegan fields are shared with Iraq in which it forms the supergiant Majnoon field. Russian oil firms Continue Reading
Bangladesh to lean on more coal than natural gas in power generation to curb costs
Highlights To add 4,365 MW of coal-fired capacity in coming months Share of coal in electricity to double to 17%, thermal imports jump Gas supply may be diverted to industrial Continue Reading
Column: India’s coal and electricity supplies are more comfortable this autumn
A labourer works inside a coal yard on the outskirts of Ahmedabad, India, April 6, 2017. REUTERS/Amit Dave LONDON, Sept 28 (Reuters) – India’s electricity supply appears much more comfortable Continue Reading
Yuan Falls to Weakest Since 2008 on Signs PBOC Is Easing Grip
The onshore yuan fell to the weakest level against the dollar since the global financial crisis in 2008, amid an incessant advance in the greenback and speculation China is toning Continue Reading
China’s Xi Jinping Re-Emerges in Public After Quarantine
BEIJING—Chinese leader Xi Jinping got out of quarantine and made his first public appearance since visiting Central Asia, trumpeting his governance record over the past decade as he prepares to Continue Reading
China’s Oil Demand Is Finally Bouncing Back
China’s weak oil demand was one of the few bearish developments in oil markets in the last year, but it appears that is about to come to an end. China Continue Reading
Hurricane Ian: Cuba suffers complete blackout after storm
Watch: Lightning strikes surround the eye of Hurricane Ian Cuba is completely without power after Hurricane Ian pummelled the western end of the island, its government has announced. The electrical Continue Reading
U.S. core capital goods orders surge; consumer confidence rises further
New orders for U.S.-manufactured capital goods increased more than expected in August, suggesting that businesses remained keen to invest in equipment despite higher interest rates, which could keep the economy Continue Reading
U.S. offshore oil output drops as Hurricane Ian takes aim
About 11% of oil production in the U.S. Gulf of Mexico was shut on Tuesday as a powerful Hurricane Ian forced oil companies to evacuate workers and the storm took Continue Reading
Hurricane Ian Threatens to Make Food Inflation Worse as Path Aims at Fertilizer Hub
Hurricane Ian is poised to strike at the nation’s production of phosphate fertilizer, threatening supply as the cost of growing food in the US rises by the most ever. Florida Continue Reading
Florida’s Chaotic Insurance Market Braces for Hurricane Ian
Hurricane Ian Could Cause Billions in Damage in Florida Hurricane Ian is bearing down on Florida, threatening to further destabilize a homeowners-insurance market already teetering on the edge of disaster. Continue Reading
US Oil-Output Growth to Top Government Forecast, BNEF Says
Pump Jacks extract crude oil in Midland, Texas. Photographer: Angus Mordant/Bloomberg The US is on track to grow oil production faster than the government is forecasting, according to a BloombergNEF Continue Reading
Hertz, BP Partner to Bring EV Charging Stations Across North America
The climate bill recently passed by the Senate could knock thousands of dollars off the sticker price of electric vehicles, but it’s also redefining which cars are eligible. WSJ’s George Continue Reading
Solar Cell Breakthrough Could Challenge Silicon Dominance
Engineers at Rice University have solved a long-standing conundrum in making stable, efficient solar panels out of halide perovskites. Chemical and biomolecular engineer Aditya Mohite says the new approach is Continue Reading
Gasoline Prices Could Return To $5 Per Gallon
Ongoing supply chain woes could push oil prices back to $100 per barrel. Analysts estimate gasoline prices could return to $5 per gallon. Biden’s ability to continue pouring oil onto Continue Reading
Dollar marches to new 20-year high, sterling under pressure
SINGAPORE/LONDON, Sept 28 (Reuters) – Nervous financial markets propelled the safe-haven dollar to a two-decade peak on Wednesday as rising global interest rates fed recession worries, while sterling drifted lower Continue Reading
EV Tax Credits to Spur More Vehicle Sales Are Entering a Critical Phase
The government is pressing to complete new rules on tax breaks for electric-vehicle purchases by an end-of-year deadline as auto companies seek guidelines that help qualify as many vehicles as Continue Reading
U.S. Shale Drillers Try To Capitalize On Record Gas Prices In Europe
A few years ago, associated gas was seen as a wasteful byproduct of oil drilling. High natural gas prices have incentivized shale drillers in the U.S. to change from oil Continue Reading
Europe Is Ready for a Winter Without Russian Gas, BNEF Says
Europe Has to Pray for a Warm Winter: Blanch Europe’s frenzied buying of liquefied natural gas means it’s likely to have enough of the power-generation fuel this winter to offset Continue Reading
IMF says UK fiscal measures will ‘likely increase inequality,’ urges rethink
WASHINGTON, Sept 27 (Reuters) – The International Monetary Fund on Tuesday took aim at new British financial plans that have roiled markets, warning that “large and untargeted fiscal packages” would Continue Reading
EU sees sabotage of Nord Stream, warns against attacks on ‘active infrastructure’
European Commission chief Ursula von der Leyen on Tuesday said the leaks of the Nord Stream pipelines were caused by sabotage, and warned of the “strongest possible response” should active Continue Reading
Oil Price Cap On Russian Crude Could Cause Tanker Shortage
Vitol: The re-routing of Russian crude from West to East would put a strain on the shipping sector. Vitol: Traders will face challenges in finding Aframaxes to load oil from Continue Reading
Half Of France’s Refinery Capacity Goes Offline As Worker Strike
Strikes at several refineries across France have left half of its refineries offline or without sending out fuels, as refinery workers stepped up industrial actions over pay disputes this week Continue Reading
UK Regulator Demands Energy Firms Improve Support For Vulnerable Customers
According to Ofgem, three UK energy firms have severe weaknesses in how they support customers in payment difficulties. The regulator has demanded Scottish Power, Tru Energy and Utilita improve their Continue Reading
Exclusive: Russia aiming to fly solo without Airbus and Boeing
Foreign aircraft will drop out of fleet – Rostec Airbus, Boeing planes will never be delivered – Rostec Russian-made engines, parts to be used – Rostec No expectation sanctions will Continue Reading
Oil output seen halved at Sakhalin-1 in 2022 -RIA cites regional governor
A vessel leaves the Orlan oil plattform at Sakhalin-1’s off-shore rig at the Chaivo field, some 11 km (7 miles) off the east cost of Sakhalin island October 10, 2006. Continue Reading
Truss Takes a Bold Economic Gamble. Will It Sink Her Government?
Prime Minister Liz Truss of Britain campaigned as a tax cutter and champion of supply-side economics, and she won the race to replace her scandal-scarred predecessor, Boris Johnson. Now she Continue Reading
Baltic Natural Gas Pipeline Opens, Reducing Europe’s Dependence On Russia
The Baltic Pipe natural gas pipeline from Norway to Poland via Denmark and the Baltic Sea was inaugurated on Tuesday by the leaders of the three countries, who hailed the Continue Reading
Oil rises from 9-month low on U.S. Gulf supply cuts, softer dollar
Oil rose more than 1% on Tuesday from a nine-month low a day earlier, supported by supply curbs in the U.S. Gulf of Mexico ahead of Hurricane Ian and a Continue Reading
Oil Prices Are About To Reverse Course
Crude has fallen below $80 on recession fears. Some large investment banks including JPMorgan and Goldman Sachs remain highly bullish on crude. Aramco CEO Nasser: the oil market is not Continue Reading
Oil prices fall for a second day on recession fears
Model of Oil barrels are seen in front of rising stock graph in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration LONDON, Sept 26 (Reuters) – Oil prices fell for a Continue Reading
Column: Recession will be necessary to rebalance the oil market
Unused capacity in global oil production has fallen to exceptionally low levels, contributing to the intense upward pressure on prices until very recently. Restoring spare capacity to more comfortable levels Continue Reading