Higher oil export volumes, coupled with rising gas prices, will boost Russia’s earnings from energy exports to $337.5 billion this year, a 38% rise on 2021, according to an economy Continue Reading
Since the beginning of the Ukraine war, the rest has been racing to reduce reliance on Russian energy. Last week, the EU proposed a 15% cut in gas usage across Continue Reading
The Netherlands could decide this month whether it will fill its largest gas storage facility past 80%, Dutch officials told Reuters on Tuesday. The news comes as Europe moves to Continue Reading
Below are a number of Crude oil plus Condensate (C + C ) production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Statistics and updated Continue Reading
European spot power prices fell on Thursday as German solar supply is seen rising, while French nuclear availability increased. German baseload power for delivery on Friday was down 6.2% to Continue Reading
Germany will lower the sales tax on gas to 7% in an effort to cushion the blow of additional charges being placed on consumers to ensure energy companies can afford Continue Reading
Water levels on the Rhine are set to rise over the weekend, potentially providing respite to a crisis that has snarled the shipment of energy products and other goods along Continue Reading
Asia-to-Europe flows set for five-month high, Vortexa predicts Trade driven by energy-security concerns, slowdown in China A fleet of ships carrying diesel, one of the world’s most important fuels, is Continue Reading
A combination of record-breaking natural gas prices, rising coal prices, and droughts across Europe are putting the EU electricity market under massive pressure. French utility EDF has had to significantly Continue Reading
Oil hit a six-month low on Wednesday after a brief rally as concerns about the prospect of a global recession that would weaken demand overshadowed a report showing lower U.S. Continue Reading
Oil pared early losses on Wednesday after China signaled it would take steps to boost a flagging economy, as traders awaited further news about the potential resumption of the Iran Continue Reading
Barclays has slashed its Brent oil price forecast by $8. The bank noted that persistent Russian oil supply and an expected surplus were causes for the change in the forecast. Continue Reading
Uncertainty about the Iran nuclear deal and disappointing Chinese crude demand and refinery throughput are creating headwinds for crude. Chart of the Week Can the German Economy Fall by the Continue Reading
The global energy crisis deepened on Tuesday as a further surge in natural gas prices in Europe and the US threatened to push some of the world’s largest economies into Continue Reading
Microsoft and Amazon say they’re accelerating a transition to a greener future, but critics argue they’re helping prolong the fossil-fuel age. Oil pump jack. Photographer: Ian Tuttle/Bloomberg It’s been a Continue Reading
Five more ships have left Ukrainian ports carrying corn and wheat, three from Chornomorsk and two from Pivdennyi, under a U.N.-brokered grain export deal, Turkey’s defence ministry said on Tuesday. Continue Reading
The $40Bn Iran–Russia deal for joint development of offshore fields in the Middle Eastern country could fall through due to corrosion issues. Iran and Russia face significant challenges in their Continue Reading
Iran has delivered a response to the latest proposal of a nuclear deal being brokered by the European Union. Iranian media notes that there are still three issues that remain Continue Reading
Iraq holds a very conservatively estimated 145 billion barrels of proven crude oil reserves. Hamid Younis, first vice president of the Iraq National Oil Company, said last week that the Continue Reading
Nigerian police said on Tuesday two oil pipelines that feed the Brass export terminal, one of Nigeria’s export streams operated by Italian group Eni (ENI.MI) , were recently blown up Continue Reading
Kashagan producing around 100,000 b/d, quarter of normal rate Ruptured pipe sent for checks as corrosion fears resurface Ongoing disruption limiting CPC Blend exports Production at Kazakhstan’s second-highest producing oil Continue Reading
On a recent scorching afternoon in his home state of Tabasco, the president of Mexico celebrated his government’s latest triumph: a new oil refinery. Though not yet operational, President Andrés Manuel Continue Reading
‘There has been an increase in the cadence of incidents in the Gulf of Mexico’. Dryad Global’s latest Maritime Security Threat Advisory (MSTA) has outlined that the Gulf of Mexico Continue Reading
China’s refinery processing and crude imports were unambiguously weak in July, but the world’s largest oil importer still added to stockpiles, maintaining a trend of building inventories. China added about Continue Reading
For the past two decades, China has conditioned global companies and markets to anticipate big government spending at any hint of an economic slowdown. Now, as growth sputters, Beijing is Continue Reading
The southwestern Chinese province of Sichuan is baking in the worst heatwave in six decades, with hydropower generation from the Yangtze River falling and factories closing to ease the pressure Continue Reading
China is scrambling to alleviate power shortages and bring more water to the drought-hit basin of the Yangtze river as it battles a record-breaking heatwave by deploying relief funds, seeding Continue Reading
China’s southwestern province Sichuan began limiting electricity supply to homes, offices and malls on Wednesday, due to a severe power crunch driven by extreme heat waves and drought, according to Continue Reading
As the historic drought in the U.S. Southwest pushes the nation’s largest reservoirs to record lows, the Biden administration Tuesday announced that water shortages along the Colorado River had passed a threshold for the Continue Reading
U.S. shale oil producers are in line to suffer more than $10 billion in derivative hedging losses this year. E&Ps typically employ derivative hedging to limit cash flow risks and Continue Reading
U.S. oil reserves held by 50 large companies rose by 13% over the five years ended in December, according to an Ernst & Young report released on Wednesday, with mergers Continue Reading
A look at the influencers who secured a rare climate win. It was the middle of July — with temperatures surging through one of the hottest summers in US history, Continue Reading
American Airlines will potentially order up to 100 of ZeroAvia’s hydrogen-electric engines for use in regional planes. The case for using hydrogen on very short flights is looking stronger. Investors Continue Reading
The American Petroleum Institute (API) reported a draw this week for crude oil of 448,000 barrels, while analysts predicted a smaller draw of 117,000 barrels. The draw comes as the Continue Reading
American Airlines Group Inc (AAL.O) on Tuesday agreed to buy up to 20 jets from aircraft maker Boom Supersonic, becoming the second major U.S. airline to bet on ultra-fast passenger Continue Reading
A second shipment of crude from a U.S. Gulf of Mexico offshore field has sailed for Germany, according to vessel tracking data and trade sources on Tuesday, as European refiners Continue Reading
The Isar nuclear-power plant in Essenbach, Germany, is one of the last nuclear plants still operating in the country. BERLIN—Germany plans to postpone the closure of the country’s last three Continue Reading
As Europe looks to secure alternative energy sources to Russian gas in light of the war in Ukraine , Statista’s Anna Fleck warns , a new threat to energy security Continue Reading
Year-ahead electricity prices continue to soar in Europe, with German power prices, the European benchmark, jumping to over $508 (500 euro) per megawatt-hour on Tuesday amid low Russian gas supply Continue Reading
As the EU grapples with an energy crisis and seeks alternatives to Russian pipeline gas, the bloc plans to increase its financial support to a military mission in Mozambique – Continue Reading
Russia’s gas giant Gazprom said on Tuesday that its natural gas exports slumped by 36.2 percent to 78.5 billion cubic meters between January and the middle of August, as deliveries Continue Reading
TTF front month opens at Eur230/MWh on Aug 16 Difficult to understand this market: trader Winter 23 contracts up 51% since July 1 European natural gas assessments at the benchmark Continue Reading
Switzerland is to launch negotiations on the use of reserve power plants, the government said on Wednesday, as part of plans to bolster energy security for the coming winter. The Continue Reading
Oil prices fell by more than $3 a barrel on Monday on concerns over demand in China, the world’s largest crude importer, and ahead of Iran’s response to a nuclear Continue Reading
U.S. crude prices on Monday extended a run of declines that have erased all gains since the Russian invasion of Ukraine and highlighted concerns about the impact of slowing global Continue Reading
An oil pump jack in a Central California field. Increased domestic production is one factor behind the decline in oil prices.Credit…Alisha Jucevic for The New York Times When Russia invaded Continue Reading
Despite a ninth consecutive week of falling gasoline prices in the United States, the streak of declines could soon see its end as wholesale gasoline prices have rebounded in recent Continue Reading
Barclays lowered its Brent price forecasts on Tuesday by $8 per barrel for 2022 and 2023, as it expects a large surplus of crude oil over the near-term due to Continue Reading
In 1990 Congress passed an amendment to the Clean Air Act of 1970, among other things taking action against acid rain, urban smog and ozone. The legislation was highly successful, greatly Continue Reading
Iraq’s most vulnerable citizens are the hardest hit by dust storms, which are growing in frequency and intensity due to both global climate change and government inaction. View full article Continue Reading
