Oil plunges to eight-month low on strong dollar, recession fears
Oil prices plunged about 5% to an eight-month low on Friday as the U.S. dollar hit its strongest level in more than two decades and on fears rising interest rates Continue Reading
Oil Falls Below $80 En Route to Biggest Run of Weekly Losses This Year
WATCH: Amrita Sen, Founder and Director of Research at Energy Aspects, discusses her outlook for energy markets. Oil posted its longest stretch of weekly losses this year as central banks Continue Reading
Nigeria Is Producing Less and Less Oil. Here’s Why
Nigeria’s oil output was at the lowest since 1990 as its crude oil production fell below 1 million barrels per day (bpd) in August 2022. And data from the Organisation Continue Reading
Colombia May Shoot Itself In The Foot With Ban On Fracking
Crude oil is Colombia’s largest export responsible for around a third of the Andean country’s total exports by value. Colombia’s lack of proven oil and natural gas reserves, and the Continue Reading
Pump Prices in US Soar as Supply Cracks Outweigh Weak Demand
A driver holds a fuel nozzle at a gas station in Sacramento, California. Photographer: David Paul Morris/Bloomberg The US is running low on gasoline on the West Coast and in Continue Reading
Joe Biden’s Climate Bill Has the US Battery Industry Revved Up
While Joe Biden was busy throttling the latest Corvette with car executives at the Detroit auto show last week, much of the rest of the industry filed into a jam-packed convention Continue Reading
Storm forming in Caribbean is forecast to hit Florida as hurricane – The Washington Post
Confidence is increasing that a tropical storm developing in the Caribbean will intensify into a hurricane by Monday and strike Florida around Wednesday. The National Hurricane Center declared that the Continue Reading
Oil Rig Count Sees Small Jump Amid Crash In Crude Prices
The number of total active drilling rigs in the United States rose by 1 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
How Big A Problem Is America’s Shrinking Oil Reserve?
The Strategic Petroleum Reserve, which was established in 1975 as a reaction to the 1973 oil embargo, is now at its lowest level since December 1984. Ultimately, the SPR is Continue Reading
The Global Water Crisis Could Crush The Energy Industry
Water is growing more scarce due to climate change. Water scarcity could derail the green energy boom, and even hinder fossil fuel production. With rising concerns over water scarcity, mainly Continue Reading
Biden administration unveils roadmap to clean up emissions from air travel
Highlights Plan supports 2030, 2050 SAF production goals Output of 60 billion gal/year of advanced biofuels seen possible Aviation industry shows support for new roadmap The departments of Energy, Transportation Continue Reading
USA Could See Strong Hurricane Enter Gulf of Mexico by Mid-Week
Forecasters indicate the U.S. could see a strong hurricane enter the Gulf of Mexico by mid-week. (The views and opinions expressed in this article are those of the attributed sources Continue Reading
Powerful storm Fiona hits Nova Scotia
Powerful storm Fiona slammed into eastern Canada on Saturday with hurricane-force winds, nearly a week after devastating parts of the Caribbean. The U.S. National Hurricane Center said the center of Continue Reading
U.S. Is Not Considering Curb On Oil Product Exports: Granholm
The United States is not currently considering a ban or restrictions on oil products exports, U.S. Energy Secretary Jennifer Granholm said on Friday. With WTI falling below $80 per barrel Continue Reading
EU countries push to keep their own energy crisis measures
European Union countries are pushing for guarantees that they can keep their own windfall profit levies on energy companies, and retain the option to impose even tougher measures, alongside bloc-wide Continue Reading
Russia’s idle primary oil refining capacity revised down by 3.6% for Sept
Russia’s offline primary oil refining capacity was revised down by 3.6% for September from the previous plan to 4.233 million tonnes, according to sources and Reuters calculations. Russia’s offline primary Continue Reading
World opinion shifts against Russia as Ukraine worries grow
The tide of international opinion appears to be decisively shifting against Russia, as a number of non-aligned countries are joining the United States and its allies in condemning Moscow’s war Continue Reading
Russia’s Gas Exports To Europe Drop By 82% In A Year
Russian natural gas exports to Europe have dropped by more than 82% in one year, according to Spain’s Energy Transition Minister Teresa Ribera. “In just a year, the flow of Continue Reading
Poland Now Has Enough Natural Gas And Coal Supply For Winter
Poland has secured its supply of natural gas and coal for the coming winter heating season, the country’s largest oil and gas firm and a senior politician from the ruling Continue Reading
Winter power demand in EU’s main gas markets forecast 5.3% lower: S&P Global
Winter power demand across the EU’s main gas-fired power markets is forecast some 5.3% below the five-year average, analysis by S&P Global Commodity Insights shows. November-to-March demand in eight EU Continue Reading
Europe’s First Cold Snap Is Early Test for Continent in Crisis
Normal temperatures are set to return by the start of October when wind generation will increase too. Photographer: Angel Garcia/Bloomberg An Arctic chill that’s blowing across western Europe through next Continue Reading
Belgium To Shut Nuclear Reactor On Friday Amid Energy Crunch
Belgium announced on Friday that its Doel 3 nuclear reactor will disconnect from the grid and cease operations, even as the country fears blackouts this winter. It is one of Continue Reading
UK Set for Winter Power Shortages Even With Coal Making Comeback
Europe May Rely on Coal More in Winter, Kung Says The UK may still face energy shortages this winter even after resorting to burning coal, with less power flowing through Continue Reading
Oil Set for Fourth Weekly Loss With Rate Hikes Darkening Outlook
Oil headed for a fourth weekly decline after a raft of interest-rate hikes around the world darkened the outlook for energy demand. West Texas Intermediate futures edged below $82 a Continue Reading
Oil prices edge down, recession fears back in focus
Oil prices fell on Friday amid recession fears and a stronger U.S. dollar, though losses were capped by supply concerns after Moscow’s new mobilization campaign in its war with Ukraine Continue Reading
Oil rises on rebounding Chinese demand, geopolitical risks
Oil rose on Thursday after sliding 1% in the previous session on the prospect of higher Chinese demand and geopolitical risks. Brent crude futures were up $1.09, or 1.21%, to Continue Reading
IEA sees momentum building in global hydrogen sector but warns of regulatory barriers
Highlights Low-carbon hydrogen growing fast, from low base Electrolyzer production capacity to jump by 2025 Green hydrogen cost competitive in best locations The International Energy Agency sees momentum building in Continue Reading
Aluminum Supply Shrinks As Energy Prices Force Smelters To Shutdown
Things may appear better in China than they are, at least as far as the country’s metals and minerals markets are concerned. However, China still remains the go-to destination for Continue Reading
War, Inflation Knock World Economy Off Balance
The global economy outside the U.S. is stuttering, knocked off course by soaring inflation, an energy crisis and now Russia’s nuclear war threats . Business surveys published on Friday indicate Continue Reading
LNG Exporters Face Risk Of Stranded Assets Despite Current Demand Boom
Short term gas demand growth has made near-term economics of LNG projects very favorable. European countries are rushing to deploy floating LNG import vessels this autumn. LNG exporters that came Continue Reading
Ramping Up Renewables Won’t Save The World From A Cold Winter
Winter is coming, and it could add even more pressure on the world, which is already grappling with an ongoing energy crisis. Some analysts and officials believe renewable energy could Continue Reading
Libya’s Oil Output Inches Higher Despite Political Tensions
Libya’s oil production rose by 3,000 barrels per day (bpd) to 1.186 million bpd on Thursday, according to the National Oil Corporation (NOC), as the African OPEC member exempted from Continue Reading
Pakistan PM Says ‘All Hell’ to Break Loose Without Debt Deal
Government signed ‘very tough’ agreement with the IMF, he says Nation ravaged by disaster, and political, economic turmoil WATCH: Pakistan Prime Minister Shehbaz Sharif made an urgent appeal for debt Continue Reading
India’s Russian thermal coal imports set to fall for first time in 4 months
India’s thermal coal imports from Russia are expected to fall for the first time in four months in September, two research consultancies said, potentially resulting in lower revenues for Moscow Continue Reading
Why India Is Suddenly Buying Less Russian Crude
In September, Indian refiners are not expected to buy any ESPO crude from Russia because of the higher shipping rates. African and Middle East crude becomes more attractive as shipping Continue Reading
This Is What Life’s Like in the World’s Strictest Covid Zero City
Seven times since last March, Ruili—on China’s Myanmar border—has felt the full force of Xi Jinping’s Covid Zero policy. China’s 1,300-mile border with Myanmar traverses some of the most rugged Continue Reading
China’s manufacturing steel demand rebounds in August, further improvement to be modest
China’s manufacturing steel demand rebounded in August and is expected to improve further in September and October on higher seasonal manufacturing activity, but market sources told S&P Global Commodity Insights Continue Reading
Almost 1 Million Puerto Ricans Still Without Power After Hurricane Fiona
Five days after Hurricane Fiona made landfall in Puerto Rico, some 970,000 households and businesses remain without electricity — nearly two-thirds of subscribers — while more than 437,000 people don’t Continue Reading
How Texas’ abortion ban hurts Big Oil’s effort to transform its workforce
Hayley Hollands, an attorney, and her husband Steve Beaman, an oil worker, who As Texas officials moved to restrict abortion, promote Christianity in schools and the state’s power grid teetered Continue Reading
California Moves to Ban Natural Gas Furnaces and Heaters by 2030 – Bloomberg
California is committing to a plan that will make it the first US state to phase out gas-fueled furnaces and water heaters in homes, a move environmentalists are betting will Continue Reading
The Next Step on Climate Action: Parking Reform
California is finally poised to lift parking requirements across the state. Here’s why that would be a huge win for the climate. Los Angeles, home of ample parking. Photo by Continue Reading
Tesla Is Crushing The Competition on Electric-Car Charger Costs
The cost of setting up an electric-car charging station can vary greatly, according to our latest Commercial EV Charger Price Survey which looks at how hardware and installation costs are Continue Reading
Energy Earnings Set To Ease, But Oilfield Services Remain Strong
Moody’s: energy sector remains a strong performer in 2023, but earnings won’t be as good as in 2022. Moody’s: Energy prices are expected to remain cyclically strong through 2023. Moody’s Continue Reading
Russia’s Historic 100 Million-Ton Wheat Crop Piles Up at Home
A combine harvester is used to harvest wheat at a farm in Orel, Russia. Photographer: Andrey Rudakov/Bloomberg Russia’s wheat harvest could reach a historic 100 million tons, according to consultant Continue Reading
Lights off, heat down: central Europe governments save power to set example
Turning off lights, lowering thermostats and installing motion detectors are among the ways central European governments have begun energy saving, as part of efforts to trim costs and avoid shortages Continue Reading
Volkswagen Warns: High Gas Prices Could Impact Car Production
Germany’s Volkswagen AG warned on Thursday that global auto production will be at risk in 2023 if Russia fails to resume deliveries of natural gas through Nord Stream 1. As Continue Reading
European fuel makers urge EU to rethink plans for ICE car ban due to energy crisis
EU proposals to ban the sale of new internal combustion engine cars and vans by 2035 should be reconsidered given the impact Russia’s war in Ukraine has had on soaring Continue Reading
Russia starts annexation vote in occupied areas of Ukraine, draws condemnation
Referendums in Luhansk, Donetsk, Kherson, Zaporizhzhia Seen as paving the way for Russian escalation of war Denounced as illegal, illegitimate by Ukraine, West Regions represent about 15% of Ukraine territory Continue Reading
Exclusive: Germany in talks over urgent help for regional energy providers – sources
The German government is in talks about providing urgent financial support for scores of regional state-owned energy providers which are struggling to cope with soaring gas prices, three sources familiar Continue Reading
Mercedes-Benz has further gas reduction plans in back pocket, production chief says
Mercedes-Benz (MBGn.DE) has planned out measures by which it could reduce gas consumption by up to 50% but has not reduced it beyond 10% as of yet, the carmaker’s production Continue Reading