Over 1,000 Dead in Pakistan’s Deadly Monsoon Flooding in Pakistan from the highest rainfall in more than three decades has killed at least 1,000 people since June and caused more Continue Reading
A series of rocket attacks on a gasfield in northern Iraq has sent the U.S. contractors working on its expansion packing, dealing a blow to the Kurdish region’s hopes of Continue Reading
US Firms’ Confidence on China Falls to Fresh Low China is battling Covid-19 in every province despite its use of the world’s strictest measures to keep the virus out. All Continue Reading
Bloomberg News China arrested hundreds of people allegedly involved in the nation’s largest ever bank fraud and started repaying more victims of the $5.8 billion scandal, in a bid to Continue Reading
China’s biggest property developer by sales is predicting more pain for the real estate industry after posting a record drop in first-half profit. “The home market hasn’t entirely bottomed out, Continue Reading
Crude inventory in the U.S. emergency reserves fell by 3.1 million barrels in the week to Aug. 26, according to data from the Department of Energy. Stockpiles in the Strategic Continue Reading
Six months into Russia’s war on Ukraine, Russia’s oil output has continued to exceed expectations although experts are warning that Moscow will find it increasingly difficult to uphold production as Continue Reading
Europe could continue scrambling for gas supply for a number of winters due to low gas flows from Russia, according to the chief executive officer of supermajor Shell. “It may Continue Reading
WATCH: Engie says it has been informed by Gazprom of a reduction in gas deliveries starting Tuesday. Stephen Stapczynski reports. Europe faced a further squeeze in Russian energy supplies as Continue Reading
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‘Many see the move as a power play to ratchet up political pressure on European supporters of Ukraine’. Russia is giving the term ‘power burn’ a whole new meaning by Continue Reading
Oil rose almost 1% on Monday as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth. Saudi Continue Reading
Renewable energy consumption is growing at a blistering rate. Despite the largest decline in primary global energy consumption since World War II, global renewable energy consumption grew by 9.7% in Continue Reading
Oil climbed as traders weighed risks to the supply outlook against pledges from leading central banks to raise interest rates further. West Texas Intermediate rose toward $94 a barrel, reversing Continue Reading
Multiple OPEC+ officials have spoken out about the negative impact of “fake news” on oil markets, suggesting it has driven a disconnect between fundamentals prices. Standard Chartered believes these comments Continue Reading
Charred cars and buildings pockmarked by bullets scarred Libya’s capital on Sunday, the day after intense fighting killed 32 people yet appeared to leave the Tripoli government more firmly entrenched. Continue Reading
Deadly clashes in Tripoli, Libya, erupted over the weekend between armed groups loyal to rival political leaders. The oil-rich nation has been racked with violence since 2011. Photo: Hazem Ahmed/Reuters Continue Reading
Progress toward an Iranian nuclear deal has thrown the spotlight onto a sizeable cache of crude held by Tehran that could be swiftly dispatched to buyers in the event an Continue Reading
The United States and Iran have found a way to address the U.N. nuclear watchdog’s investigations of Tehran’s atomic program that allows both to claim victory for now but delays Continue Reading
Iran has considerable volumes of oil in floating storage that it could quickly release should a deal with the United States be finalized. In an update earlier this month, OilX Continue Reading
Nigeria released some funds owed to international air carriers to try and avert a crisis in the aviation sector amid warnings of flight suspensions from operators including Dubai’s Emirates Airline. Continue Reading
Tens of thousands of people fled their homes in northern Pakistan on Saturday after a fast-rising river destroyed a major bridge, as deadly floods cause devastation across the country. Powerful Continue Reading
Next month marks the 25th anniversary of the Sino-Kazakh intergovernmental agreement on cooperation in the oil and gas industry, which has seen China invest $45 billion. While the amount invested Continue Reading
Customers at a food market in Shanghai, China. Bloomberg News Economists are turning more bearish about China’s economy, downgrading their growth forecasts further for 2022 and seeing lingering risks into Continue Reading
Bloomberg News China’s southwestern province of Sichuan restored most power supplies for industries and businesses by Sunday noon after restrictions lasting about two weeks, according to state television . Power Continue Reading
More than 100,000 people have been moved to safer areas by Monday as heavy rains brought flood risks to a region of southwest China that was devastated by a heatwave Continue Reading
Everyone thought a COVID-19-ravaged steel supply market in China took a turn towards recovery. However, many other hurdles now stand in the way, both long & short-term. Power cuts and Continue Reading
The U.S dollar climbed to a 20-year high against other major currencies on Monday after Federal Reserve Chair Jerome Powell signaled interest rates would be kept higher for longer to Continue Reading
(LNG) export industry on its west coast a decade after soaring costs and indigenous opposition derailed a previous wave of proposed LNG terminals. This time, companies are focusing on smaller Continue Reading
“I’m not one of these coal or nothing people. You’ve got to diversify your energy,” said Mr. Zeigler, a physical-therapist assistant. He and his wife have spent less on clothes, Continue Reading
The federal government declared a regional emergency in the states of Illinois, Michigan, Indiana, and Wisconsin following a fire that broke out at a BP-owned refinery in Whiting, Indiana. The Continue Reading
France is readying a plan to subsidize electric-car leasing as part of President Emmanuel Macron’s campaign pledge to make them more affordable. The scheme will make EVs available for 100 Continue Reading
Energy regulator Ofgem has officially announced a new price cap for household energy bills, increasing the cap to £3,549 per year from the current price of £1,971. The price cap Continue Reading
European natural gas prices plunged the most since March after Germany said its gas stores are filling up faster than planned and some traders took profits after the rally of Continue Reading
A team from the U.N. nuclear watchdog headed on Monday to Ukraine’s Zaporizhzhia nuclear plant, the agency’s chief said, as Russia and Ukraine traded accusations of shelling in its vicinity, Continue Reading
European Union defense and foreign ministers, meeting in Prague this week, will discuss options for setting up an EU military training mission for Ukrainian forces and also look into calls Continue Reading
Party support renationalizing the country’s energy industry, according to a survey published on Monday, as soaring energy prices put pressure on household budgets. The government has been facing growing calls Continue Reading
Germany’s gas storage facilities are filling up faster than planned, Economy Minister Robert Habeck said, giving hope that Europe’s biggest economy could avoid acute gas shortages this winter. “The reservoirs Continue Reading
A 9 billion-euro ($9 billion) offshore wind power hub planned in the Baltic Sea will mark a significant step in the process of weaning Europe off its reliance on Russian Continue Reading
Countries across Europe are rushing to install new LNG import facilities as quickly as possible. That’s what Matteo Illardo, Europe analyst for RANE risk intelligence, told Rigzone, adding that most Continue Reading
– Oil prices ended higher on Friday, boosted by signals from Saudi Arabia that OPEC could cut output, but trading was volatile as investors digested and ultimately shrugged off warnings Continue Reading
The global diesel market looks set to get even tighter. The global diesel market looks set to get even tighter as power generators and industrial users seek relief from surging Continue Reading
The OPEC Monthly Oil Market Report (MOMR) for August 2022 was published recently. The last month reported in most of the OPEC charts that follow is July 2022 and output Continue Reading
A car heads south on a bridge over a mostly dry Platte River, south of Columbus, Nebraska, on July 28. Waterways have dried to a trickle thanks to droughts and Continue Reading
Numerous OPEC+ ministers have bemoaned oil prices volatility in recent weeks. Standard Chartered: when OPEC+ says volatility, what they really mean is ‘falling crude prices’ StanChart sees oil’s fundamentals as Continue Reading
The UAE could support OPEC+ production cuts. Some OPEC+ producers, including Iraq, Venezuela, and Kazakhstan, have also signaled support for new production restrictions. OPEC+ meets next on September 5 to Continue Reading
Iraq has ambitions to improve electricity supply using solar power, but those plans are being delayed by disputes over payment terms, inexperience among senior officials in dealing with solar agreements, Continue Reading
Intense fighting erupted in the Libyan capital overnight and lasted into Saturday morning, with rival factions exchanging heavy gunfire and the sounds of several loud blasts ricocheting around the city. Continue Reading
Shanghai’s famous Bund went dark on Monday as authorities turned off the waterfront district’s decorative lights to save energy. China extended power cuts in some areas to cope with soaring Continue Reading
Bloomberg News Profits at industrial firms in China fell in the first seven months of the year as the economy continued to grapple with Covid disruptions and an ongoing slump Continue Reading
