To reach net-zero emissions by 2050 and limit global warming to 1.5C, investment in renewable energy sources needs to surpass finance flows to fossil fuels by a factor of four Continue Reading
The prospective industrial action will hit several platforms and rigs. London-based union Unite has announced that over 300 offshore drilling and contract maintenance workers employed by Archer, Maersk, Transocean and Continue Reading
The White House has accused Opec+ of aligning with Russia after Saudi Arabia led the group in agreeing deep oil production cuts, prompting a backlash from countries already battling surging Continue Reading
OPEC+ agreed to cut its collective output limit by 2 million barrels day. by S.E.Wardany, G.Smith, B.Bartenstein, F.MacDonald View All Attend Rigzone’s Oil & Gas Career Fair on October 6th Continue Reading
Global oil supply is set to tighten, intensifying concerns over soaring inflation after the OPEC+ group of nations announced its largest supply cut since 2020 ahead of European Union embargoes Continue Reading
Officials in Nigeria discovered an illegal connection line from one of its major oil export terminals into the sea that had been operating undetected for nine years, the head of Continue Reading
Ecuador’s economy is staring down yet another crisis. Economic headwinds could further jeopardize its already-struggling oil industry. Drill count is inching up slowly, but it remains to be seen whether Continue Reading
The Biden administration is preparing to scale down sanctions on Venezuela’s authoritarian regime to allow Chevron Corp. CVX 0.57%▲ to resume pumping oil there , paving the way for a Continue Reading
The top of China’s agenda in energy terms remains the Middle East. The recent Shanghai Cooperation Organization (SCO) summit saw China enhance its influence with several of the world’s leading Continue Reading
While job openings are coming down, they’re still extremely elevated. Photographer: Al Drago/Bloomberg US companies hired at a solid clip in September, suggesting demand for workers remains healthy despite rising Continue Reading
The U.S. services industry slowed modestly in September while employment surged and a measure of prices paid by businesses for inputs fell to more than a 1-1/2-year low, suggesting underlying Continue Reading
Californians on the cusp of paying record-high pump prices may be in for some relief. Wholesale gasoline premiums in Los Angeles and San Francisco plunged Wednesday to the lowest levels Continue Reading
Prices vary widely across the country, with California’s average at $6.425 a gallon. U.S. gasoline prices are ticking up after a roughly 100-day decline, threatening to inflict new pain on Continue Reading
The newest US exporter of liquefied natural gas has signed a deal to increase exports to Germany, one of a flurry of sales to Europe amid a scramble to replace Continue Reading
Manufacturing growth in the United States slowed in September to its lowest rate since the pandemic recovery started Global maritime trade growth is slowing in a sign that the global Continue Reading
Strikes have disrupted TotalEnergies’ (TTEF.PA) oil products refining and delivery for an ninth day, with four of its French plants hit by continuing industrial action by workers, a CGT trade Continue Reading
German Chancellor Olaf Scholz said on Wednesday he did not have the impression France had ruled out building a gas pipeline across the Pyrenees and said he firmly believed Europe Continue Reading
Europe may face an even more acute energy crunch next year after draining its natural gas tanks to get through the cold of this winter, the head of the International Continue Reading
Russia has joined the short list of capitals willing to trade with the Taliban. Moscow inkedc a preliminary agreement with the Taliban to provide key fuels to Afghanistan, though what Continue Reading
Russian President Vladimir Putin has decreed Ukraine’s Zaporozhye Nuclear Power Plant is a Russian federal asset, absorbing all facilities and employees as the Kremlin’s push in the east loses momentum Continue Reading
Ratings agency Fitch lowered the outlook for its credit rating for British government debt to “negative” from “stable” on Wednesday, days after a similar move from rival Standard & Poor’s Continue Reading
OPEC+ agrees major cuts to production quotas Urals currently trading at a discount of around $25 Russian Deputy Prime Minister Alexander Novak said Oct. 5 that a planned price cap Continue Reading
Oil inched lower on Wednesday after gains in recent days as OPEC+ producers looked set to agree deep output target cuts later in the day despite a tight market. Brent Continue Reading
The American Petroleum Institute (API) reported a surprise draw this week for crude oil of 1.770 million barrels, while analysts predicted a build of 333,000 barrels. U.S. crude inventories have Continue Reading
Oil prices rose on Tuesday as expectations that OPEC+ may agree to a large cut in crude output on Wednesday offset concerns about the global economy. Brent crude was up Continue Reading
Nov-Jan contango for JKM benchmark as wide as $7/MMBtu Charterers have been taking up tonnage since mid-2022 Storage demand drives up spot LNG freight rates to record highs The number Continue Reading
Emissions of methane, a potent greenhouse gas, from oil and gas infrastructure could be stamped out within the next 10 years, industry experts said on Tuesday. Speaking at the Reuters Continue Reading
Droughts, heatwaves pushed countries to coal power, Ember says Renewable growth saved $40 billion in fuel costs in first half Global carbon emissions from power plants may be headed for Continue Reading
A gas pump is inserted inside an Audi vehicle at a Mobil gas station in Beverly Boulevard in West Hollywood, After a tumultuous year, U.S. gasoline prices have been steadily Continue Reading
India, the world’s third-largest crude oil importer, is looking to lock in term purchase contracts with crude producers, expecting a redirection of trade flows and a tighter market when the Continue Reading
The White House is up in arms to try and prevent a potentially major production cut in OPEC+ just a month before midterm elections when the current administration least needs Continue Reading
Iran’s national currency, the rial, fell to a record low against the U.S. dollar amid a wave of protests triggered by the death in custody of a young woman. The Continue Reading
The West’s race to reduce reliance on Chinese rare earths is facing headwinds. Europe’s ongoing energy crisis has forced smelters and producers to shut down. Ionic Rare Earths has just Continue Reading
Almost a third of the new coal mines planned for the world are in China, all but guaranteeing that output will keep rising in the top producer, even as calls Continue Reading
The protests that have gripped Iran for three weeks started over a headscarf, but are morphing into a broader movement fueled by middle-class anger over the country’s collapsing economy. Iran’s Continue Reading
The largest U.S. oil trade groups said on Tuesday that they have “significant concerns” that the Biden administration is considering limiting fuel exports to lower consumer prices and urged top Continue Reading
Hurricane Ian hit the Florida coast last week, leaving huge amounts of damage and a large death toll in its wake. Governor Ron DeSantis is piecing together recovery efforts while Continue Reading
U.S. job openings fell by the most in nearly 2-1/2 years in August, suggesting that the labor market was starting to cool as the economy grapples with higher interest rates Continue Reading
The Group-of-Seven industrialized economies are within weeks of announcing a formal cap on the price of Russian oil, according to a US Treasury official. The step will be announced “substantially Continue Reading
The U.S.’s new tax-break scheme for electric vehicles has drawn angry responses from the country’s key allies in Asia and Europe, highlighting a tension between government support for the domestic Continue Reading
The U.S. shale industry won’t step in to fill the gap left by an OPEC+ crude oil production cut, energy executives told Reuters on Tuesday. OPEC+ is set to review Continue Reading
The White House intends to keep LNG exports to Europe flowing through winter. American LNG has been crucial in meeting demand in Europe, which is scrambling for gas supply and Continue Reading
Exxon Mobil Corp (XOM.N) on Tuesday signaled strong third quarter operating profits on the heels of the prior quarter’s all-time high as earnings from natural gas offset weaker refining and Continue Reading
America’s gross national debt exceeded $31 trillion for the first time on Tuesday, a grim financial milestone that arrived just as the nation’s long-term fiscal picture has darkened amid rising Continue Reading
The Amprion control room in Brauweiler, Germany. Photographer: picture alliance/Getty Images Germany’s largest power-grid operator said that the country may have to restrict electricity exports this winter as a last Continue Reading
The UK has placed new sanctions on Russia, blocking its citizens and businesses from purchasing an array of services from British firms, over the Kremlin’s decision to annex four regions Continue Reading
UK talking to market about commercial gas deal availability Norway, US, Qatar key gas suppliers to UK market Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
Strikes have disrupted TotalEnergies’ (TTEF.PA) oil products refining and delivery for an ninth day, with four of its French plants hit by continuing industrial action by workers, a CGT trade Continue Reading
Russian gas supplies to Italy via Austria resumed, bringing some temporary relief to gas prices in Europe. Gazprom PJSC said it has found a solution with Italian buyers to overcome Continue Reading
Europe’s diesel crisis is set to worsen as refinery maintenance and unplanned outages result in reduced supply. The benchmark diesel profit margins in Europe rose last week to the highest Continue Reading
