The Inflation Reduction Act’s name may become a misnomer. The Inflation Reduction Act’s (IRA) name may become a misnomer if investment surges while supply chains remain constrained – fueling inflation. Continue Reading
Lower fuel prices caused an unexpected fall in British inflation in August, official figures showed on Wednesday, offering some respite to households and the Bank of England after inflation hit Continue Reading
The European Commission on Wednesday unveiled a series of proposals to curb the energy price spike that has rocked Europe in the wake of Russia’s invasion of Ukraine, while stressing Continue Reading
Norway’s Equinor became the first Western oil major to fully exit Russia this month, avoiding the high-profile clashes with Moscow experienced by some rivals – but it also paid a Continue Reading
The European Union will propose measures to cap revenues from low-cost electricity generators and force fossil fuel firms to share the profits they make from soaring energy prices, European Commission Continue Reading
Russia’s oil-export revenue contracted to $17.7 billion in August, the lowest since at least March, as a decline in crude prices more than offset higher supplies abroad, according to the Continue Reading
Brussels has said it will raise more than €140bn from windfall taxes on energy companies’ profits to soften the blow of record high energy prices this winter. With energy prices Continue Reading
The European energy shortage has forced authorities across the continent to take extreme measures to reduce and encourage the reduction of energy consumption. The Mayor of Paris has said that Continue Reading
STRASBOURG, Sept 14 (Reuters) – The European Commission on Wednesday unveiled a series of proposals to curb the energy price spike that has rocked Europe in the wake of Russia’s Continue Reading
Oil pushed higher for a fourth day as a weaker dollar offset global demand concerns, and progress toward an Iranian nuclear deal stalled. West Texas Intermediate futures rose toward $89 Continue Reading
Oil prices rose in volatile trade on Tuesday as worries about tight fuel supplies ahead of winter offset investor concerns about lower demand in China, the world’s biggest crude importer, Continue Reading
WTI crude gained 2% on Monday morning. European diplomats expressed “serious doubt” that Tehran is genuinely seeking a revival of the 2015 nuclear deal. Softer U.S. dollar supports crude prices. Continue Reading
Onshore crude oil inventories have been tightening. Onshore crude oil inventories have been tightening and seem to be at an inflection point, according to energy and environmental geo-analytics company Kayrros. Continue Reading
Global employment in the energy sector has risen above its pre-pandemic levels, led by increased hiring in clean energy, the IEA said in its latest report. Global employment in the Continue Reading
Despite record high natural gas prices and a worldwide energy crisis, global coal-powered generation fell in the year’s first half, defying forecasts of high coal consumption in the electricity sector. Continue Reading
Climate report: Middle East and East-Mediterranean are warming up at nearly twice the global average. The Middle East is set to overtake Europe as the biggest contributor of greenhouse gasses Continue Reading
A new Iran nuclear deal is looking increasingly unlikely after U.S. Secretary of State Anthony Blinken said Iran had taken “a step backward” with its latest comments on the final Continue Reading
Iran says it is ready to continue to cooperate with the UN’s nuclear watchdog but called on the agency “not to yield to Israel’s pressure” over Tehran’s nuclear activities. The Continue Reading
Foreign oil companies operating in Iraq’s semi-autonomous Kurdistan region are ignoring a barrage of legal challenges to their businesses by Baghdad and are investing for the long haul, including activity Continue Reading
Oil rigs Abuja, Nigeria — Nigeria has lost its position as Africa’s top oil producer to Angola, industry insiders say, and could soon become third after Libya. Oil analysts say Continue Reading
South African government plans to end recurring power cuts could take at least a year to deliver results, a top executive at struggling utility Eskom said on Monday. Africa’s most Continue Reading
Crude oil production in Kazakhstan, which is part of the OPEC+ output deal, plunged by 13% in August from July due to regular maintenance at one giant field and an Continue Reading
Farmers stranded by unprecedented floods that have submerged huge swathes of Pakistan are running low on feed for their cattle, officials said on Tuesday, as airdropping supplies proved a difficult Continue Reading
Metal prices powered to new highs in Spring on fears that rapidly rising energy costs would restrain supply. Bad news in China, however, has squashed those concerns. China’s zero-Covid policy Continue Reading
China’s southwestern province of Yunnan has ordered producers of electrolytic aluminium to reduce their power usage this week, the companies told Reuters on Tuesday. Yunnan’s decision is another sign that Continue Reading
The latest US effort to reduce reliance on China is striking hard at the Asian nation’s biotech stocks, as investors price in more indications of decoupling between the world’s two Continue Reading
Japan’s biggest oil refiner is drawing up plans to consolidate production as domestic demand slumps because of a shrinking population and efforts to cut emissions. Eneos Holdings Inc. has an Continue Reading
A northeastern province that was once one of China’s major coal and industrial hubs has launched a 600 billion yuan ($87 billion) plan to expand clean energy production. Liaoning province Continue Reading
Draconian Covid-related lockdowns have a direct and significant effect on China’s economic growth. The extended Covid-19 lockdown in Chengdu last week has led to a sharp selloff in crude oil Continue Reading
Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 66,000 barrels per day (bpd) to a record 5.413 million Continue Reading
Investors sold petroleum last week with the fastest sales concentrated in middle distillates as the economic outlook on both sides of the Atlantic deteriorated. Hedge funds and other money managers Continue Reading
Let’s say you want to sell your home in Cape Coral, Florida, and think you’ll get a great price because of the proximity to water. Or perhaps you’re thinking of Continue Reading
Highlights USDA sees 2022-23 US corn production at 13.9 bil bu, down 415 mil bu Sees US corn yield estimate at 172.5 bu/acre, down 2.9 bu/acre Sees US corn harvested Continue Reading
Fossil fuel firms may have to share their excess profits to help European households and industries cope with red-hot energy bills, a draft European Union plan showed on Monday as Continue Reading
BRUSSELS, Sept 12 (Reuters) – European Union countries can use 225 billion euros ($227.57 billion) in untapped loans from the EU’s recovery fund to address energy problems and other challenges Continue Reading
French scepticism about a new gas pipeline across the Pyrenees highlights the competing visions for Europe’s future energy mix as the continent urgently confronts a power crisis. MidCat would be Continue Reading
In July, Germany reported a 45.8% reduction in imports from Russia compared to a year ago, but the value of those imports had increased by over 10%. This increase in Continue Reading
The European Union is preparing to propose a plan that would force fossil fuel companies taking in windfall profits from surging oil and gas prices to submit financial contributions to Continue Reading
Public Policy This is part two of a condensed and lightly edited transcript of an interview with Soviet and Russian energy specialist Thane Gustafson. In part one, he described the Continue Reading
The Kremlin said on Tuesday there was no discussion of a nationwide mobilization to bolster the country’s military campaign in Ukraine, days after a surprise Ukrainian offensive drove Russia out Continue Reading
The European Union is retreating from imposing a price cap on Russian gas, but pushing ahead with windfall taxes on energy companies’ surplus profits, the Guardian reported on Tuesday, citing Continue Reading
French farmers are collecting their smallest corn crop in more than three decades, highlighting the massive toll that summer drought has wrought on Europe’s food supplies. Heat and dryness gripped Continue Reading
Natural gas prices fell for a third day as the European Union pushes ahead with its market intervention to ease the worst energy crisis in decades. Benchmark prices dropped as Continue Reading
Germany is set to use a fund created to help companies cope with the economic hit from the pandemic to provide loan guarantees for struggling energy firms, according to a Continue Reading
China and India hold the key to the success, or failure, of a price cap on Russian oil proposed by the G7. Asia’s largest oil consumers are expected to buy Continue Reading
Oil wiped out an earlier decline as a slump in the dollar offset mounting concerns that global demand is weakening. The global Brent benchmark rose to trade near $94 a Continue Reading
Oil prices rose on Monday as Iranian nuclear talks appeared to hit obstacles and an embargo on Russian oil shipments loomed, with tight supply struggling to meet still robust demand. Continue Reading
Saudi Arabia will supply the full contractual volumes to at least three customers in North Asia, sources familiar with refiners’ allocations from the world’s top crude oil exporter told Reuters Continue Reading
Israel does not anticipate a renewal of Iran’s nuclear deal with world powers before the U.S. mid-term elections in November, an Israeli official said on Sunday, after European parties to Continue Reading
Nigeria’s oil sector challenges appear to be worsening, with production hitting a record low of 972,394 barrels per day in August, according to data obtained from the Nigerian Upstream Petroleum Continue Reading
