Diesel Hits Chaos Mode
The world’s diesel market is once again flashing signs of chaos. The world’s diesel market is once again flashing signs of chaos, undermining the global economy with a fresh bout Continue Reading
Atlantic Basin refining margins soar on refinery outages, tight diesel supply
Atlantic Basin refinery margins are rising back toward record levels set earlier this year, spurred higher by refinery outages and French refinery strikes, an analysis from S&P Global Commodity Insights Continue Reading
Clean Energy Has a Tipping Point, and 87 Countries Have Reached It
Rendering of a home battery energy storage system. Photo: Getty Images On New Year’s Eve, 1879, Thomas Edison flipped the switch on the first building strung up with electric light Continue Reading
Renewable Investments Could Outstrip Upstream Oil And Gas In 2022
Capital investment in renewables is set to reach nearly $500 billion in 2022. This year could be the first year that renewable investment overtakes upstream oil and gas investment. The Continue Reading
UAE says it fully stands with Saudi Arabia to support energy stability, security
The United Arab Emirates (UAE) on Monday said it fully stands with Saudi Arabia in its efforts to support energy stability and security, UAE state news agency (WAM) reported, citing Continue Reading
Nigeria LNG Declares Force Majeure After Flooding
A ship loads liquefied natural gas from the Nigerian LNG plant on Bonny Island, Nigeria. Nigeria LNG Ltd. declared force majeure on shipments from its Bonny Island liquefied natural gas Continue Reading
Nigeria flooding kills more than 600 people and displaces 1.3mn
More than 600 people have died and 1.3mn have been displaced from their homes in flooding that has hit 33 of Nigeria’s 36 states and the capital Abuja, government officials Continue Reading
Saudi Arabia Announces $400 Million In Aid To Ukraine
Saudi state media announced Saturday that the kingdom will provide $400 million in humanitarian aid to Ukraine , following a Friday phone call between Crown Prince Mohammed bin Salman and Continue Reading
Cuba replaces energy minister as hours-long blackouts stir unrest
Cuba´s communist-run government replaced its energy and mines minister with Vicente de la O Levy, head of the state-run electronics company, official media reported on Monday, as the country struggles Continue Reading
China to boost development of new energy system, climate change governance: Xi
Highlights New energy system refers to new fuel sources, technologies Environmental conservation accounts for large section speech Low-carbon push tempered by energy security concerns China plans to accelerate the development Continue Reading
Xi Jinping’s Ideological Ambition Darkens China’s Economic Prospects
Xi Jinping laid out ambitious plans two years ago to expand China’s wealth and double the size of the nation’s economy by 2035. The target would require China’s economy to Continue Reading
Flying to China in Economy Class Will Cost You $5,000
China is creaking open the door to international travel, but getting into the country comes with a cost—thousands of dollars for a flight. Michael Hart this summer made his first Continue Reading
China Abruptly Delays GDP Release During Communist Party Conference
China abruptly delayed the publication of its third-quarter gross domestic product data Monday, a day before it was set to be released, an unusual move as the country’s ruling Communist Continue Reading
Founder Harold Hamm clinches deal to take shale producer Continental private
Continental Resources Inc (CLR.N) said on Monday it had agreed to a sweetened offer from founder Harold Hamm to take the U.S. shale oil producer private at a valuation of Continue Reading
Gasoline Prices See Abrupt Decline As U.S. Diesel Prices Continue To Rise
After a relentless four-week climb, U.S. national average gas prices have declined, falling 5.4 cents from a week ago to $3.86 per gallon on Monday . Still, the national average Continue Reading
U.S. could sell oil from emergency reserve this week – sources
The Biden administration plans to sell oil from the Strategic Petroleum Reserve in a bid to dampen fuel prices before next month’s congressional elections, three sources familiar with the matter Continue Reading
Florida Coastal Living Reshaped by Hurricane Housing Codes
Trixie Parkes’s 1976 wood-framed cottage long served as her home and main source of income, because she rented two units on the top floor to tourists. But when Hurricane Ian Continue Reading
NOPEC Bill Would Mean The End Of Aramco And OPEC As We Know Them
Simon Watkins is a former senior FX trader and salesman, financial journalist, and OPEC+ decision to cut output by 2 million bpd has sparked angers in the White House. Bipartisan Continue Reading
Why The Lack Of Public Charging Infrastructure Isn’t Deterring EV Buyers
Electric vehicle demand is soaring despite the lack of public charging infrastructure. While demand remains strong, there is a clear need for increased investment in charging infrastructure. China is leading Continue Reading
Study estimates California’s GHG reductions since 2003 could be wiped out by 2020 wildfires
In an open-access report in the journal Environmental Pollution , researchers from UCLA and the University of Chicago estimate that California’s wildfire carbon dioxide equivalent (CO 2 e) emissions from Continue Reading
U.S. Permian oil production forecast to hit record in November -EIA
Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is forecast to rise by about 50,000 barrels per day (bpd) to a record Continue Reading
Dozens of LNG-laden ships queue off Europe’s coasts unable to unload
Dozens of ships carrying liquefied natural gas (LNG) circling off the coasts of Spain unable to secure slots to unload have prompted grid operators for the country to warn they Continue Reading
EXCLUSIVE Rosneft moves into tanker chartering as EU ban looms
Russia’s biggest oil exporter Rosneft has expanded its tanker chartering business to ease oil shipments for buyers amid looming Western sanctions on the insurance of Russian oil shipments, three sources Continue Reading
Russia Wipes Out Exxon’s Stake in Sakhalin Oil-and-Gas Project
Share As the West tries to move away from Russian energy sources and imposes sanctions on Moscow, China and India have stepped in to fill the gap. WSJ examines how Continue Reading
Putin Blames Outsiders As Central Asia Turns Its Back On Russia
Russian President Vladimir Putin is blaming the West for Russia’s declining influence in Central Asia. Putin referenced one of his conspiracy theories about foreigners scheming to rob the world and Continue Reading
Norway’s Equinor Considers Buying Chinese North Sea Oilfields
Reuters reported on Monday that Norway’s Equinor ASA (NYSE: EQNR)is considering buying oilfields in the British North Sea from China’s CNOOC Ltd (OTCPK: CEOHF), including a significant stake in the Continue Reading
Nord Stream Blasts Were Likely Result of Sabotage, German Probe Finds
Western leaders are preparing for the possibility that Russian natural gas flows through the key Nord Stream pipeline may never return to full levels. WSJ’s Shelby Holliday explains what an Continue Reading
France’s central bank boss says UK crisis shows risk of ‘vicious loop’
France’s central bank head has warned that the recent turmoil in the UK’s bond markets illustrates the “vicious loop” governments face if they undermine efforts by rate-setters to curb soaring Continue Reading
Drones Embody an Iran-Russia Alliance Built on Hostility to the U.S.
The Iranian-made drones that Russia sent on Monday to divebomb Ukraine’s capital delivered the most emphatic proof yet that Tehran has become a rare, increasingly close ally to the Kremlin, offering both Continue Reading
As Europe Piles Sanctions on Russia, Some Sacred Cows Are Spared – The New York Times
Eight months into the war in Ukraine, and eight rounds of frantic negotiations later, Europe’s sanctions against Russia run hundreds of pages long and have in many places cut to the Continue Reading
EU Emergency Measures Unlikely To Include A Natural Gas Price Cap
The European Commission is unlikely to include an immediate cap on natural gas prices in the emergency measures it is set to propose today. The measures will be designed to Continue Reading
Scottish Independence Paper Proposes Oil Fueled Fund
A proposed new fund ‘would be a sustainable use of oil and gas revenues and would last for the first decade of independence’. A new prospectus paper detailing plans for Continue Reading
Oil climbs on China’s fuel demand recovery hopes
Oil prices rose on Monday after China rolled over liquidity measures to help its pandemic-hit economy, igniting hopes for a better fuel demand outlook from the world’s top crude importer. Continue Reading
Oil Edges Higher After Weekly Loss as Slowdown Hangs Over Market
Oil clawed back some losses after a weekly slump as fears over an economic slowdown continue to weigh on the outlook for demand. West Texas Intermediate futures traded above $86 Continue Reading
Oil Prices Reflect Growing Concerns About Chinese Demand
The Dubai benchmark oil prices, a bellwether of demand in Asia, have weakened in recent weeks, reflecting concerns about oil consumption in the most important crude oil importing region. The Continue Reading
Nigeria: Oil Theft – Tompolo Uncovers Another Illegal Pipeline in Delta
The latest discovery comes less than one week after at least 58 illegal oil pipelines were discovered by Tompolo in Delta and Bayelsa States where crude oil was being stolen. Continue Reading
Iran Is Sending Crude Oil To Venezuela For Refining
Iran has started refining its crude oil in Venezuela, Iranian media have reported , citing oil minister Javad Owji. Iranian crude is being processed at a rate of 100,000 bpd Continue Reading
Iran Protests Spread With Uprising at Prison
The protest movement sweeping Iran spread to a Tehran prison known as a symbol of political repression in a new challenge to the Islamic Republic, with detained dissidents chanting antigovernment Continue Reading
Iran prison fire death toll rises as protests rage
Eight prisoners died as a result of a fire at Tehran’s Evin prison over the weekend, Iran’s judiciary said on Monday, doubling the death toll from the blaze which has Continue Reading
Soaring Dollar Leaves Food Piled Up in Ports as World Hunger Grows
Food importers from Africa to Asia are scrambling for dollars to pay their bills as a surge in the US currency drives prices even higher for countries already facing a Continue Reading
China vows to step up capacity of energy supply, reserves
China will greatly increase domestic energy supply capacity and its reserve capacity for key commodities, government officials said on Monday, reiterating a policy of ensuring supplies and stabilising prices of Continue Reading
China Delays Release of GDP Data Due Tuesday, No Reason Given
China delayed the release of third-quarter gross domestic product data, which were scheduled for release Tuesday, without giving any reason. The National Bureau of Statistics updated its release schedule on Continue Reading
China Halts LNG Sales to Foreign Buyers to Ensure Own Supply
China told its state-owned gas importers to stop reselling LNG to energy-starved buyers in Europe and Asia in order to ensure its own supply for the winter heating season. The Continue Reading
China Won’t Rush Its Clean Energy Transformation, Xi Says
President Xi Jinping has promised a slow and steady end to the growth of planet-warming emissions in China, with energy security taking top priority as the country contends with a Continue Reading
Australia’s New Climate Politics Will Reshape its Entire Economy
Long accused of being a laggard on climate action, Australia in September passed its first binding emissions reductions target, enshrining into law a 43% cut from 2005 levels by 2030 Continue Reading
China to boost development of new energy system, climate change governance: Xi
New energy system refers to new fuel sources, technologies Environmental conservation accounts for large section speech Low-carbon push tempered by energy security concerns China plans to accelerate the development of Continue Reading
Oil Industry Execs Lash Out At Botched Energy Transition
Jamie Dimon: Biden administration has basically messed up the country’s—and the world’s—energy security. Chevron’s Michael Wirth has openly accused Western governments of causing the energy crunch because of their preoccupation Continue Reading
Why The U.S.’ Largest Shale Gas Basin Misses Out On The LNG Boom
The largest U.S. shale basin is stymied by regulatory hurdles. The U.S. Northeast is importing LNG from foreign producers to meet its gas demand. A lack of infrastructure and legal Continue Reading
Time for talks is over, French minister says as petrol crisis drags on
The time for talking is over, French Finance Minister Bruno Le Maire said on Monday, as the government ordered more fuel depot staff back to work to try to restore Continue Reading
How Russian Ships Are Laundering Grain Stolen From Occupied Ukraine
Grain on board the Osprey S anchored in the Marmara Sea, Turkey, following the safe-corridor deal. The Osprey S left the Ukrainian port of Chornomorsk on August 16 carrying 11,500 Continue Reading