The New Acquisition Strategy Of U.S. Shale
The value of mergers and acquisitions in U.S. shale fell by 65% in the second quarter of 2022 compared to a year earlier. Now, interest in acquisitions appears to be Continue Reading
Rhine River to Drop Further as IEA Sees Prolonged Crisis
Water level at Kaub to fall to 33-centimeter marker by Aug. 15 River closure could significantly dent oil-product trade: FGE An exposed section of the Rhine River riverbed, due to Continue Reading
Ukraine resumes Russian oil flows to Hungary, Slovakia as bills settle
Oil flows have resumed from Russia to Hungary and Slovakia via the Ukrainian section of the Druzhba oil pipeline, Ukraine’s Naftogaz said on Thursday, days after being suspended over payment Continue Reading
Gas-Starved Europe Is About to Get a Pair of Floating LNG Units –
At least two floating liquefied natural gas terminals are heading for Europe in the next several months as the region clamors to replace supplies cut off after Russia’s invasion of Continue Reading
IEA: Russian Oil Output Resilient, But Could Drop With EU Embargo
Russian oil production and exports have been holding resilient in recent months, with much smaller declines than initially expected, the International Energy Agency (IEA) said on Thursday. But the agency’s Continue Reading
‘Not enough’ gas for European winter drives front season contract prices higher
Highlights Supply crunch, few sellers underpin winter price: traders UK winter hedging echoes upswings prior to winter 2018, 2021 Europe could run short of natural gas this winter, market sources Continue Reading
Putin’s War Hurls His Economy Back Four Years in One Quarter
President Vladimir Putin’s invasion of Ukraine set Russia’s economy back four years in the first full quarter after the attack, putting it on track for one of the longest downturns Continue Reading
Strikes at Ukraine nuclear plant prompt U.N. call for demilitarised zone
Russia and Ukraine accused each other of shelling Europe’s biggest nuclear power plant, compounding fears of a disaster as the U.N. chief said it should be made a demilitarised zone Continue Reading
Shipping disruption continues as Rhine water levels fall again in Germany
Water levels on the river Rhine in Germany have fallen again in dry weather on Friday, with some vessels no longer able to sail, shipping operators and brokers said. Rhine Continue Reading
Public buildings in Germany to be heated to 19° Celsius – econ minister
Public buildings in Germany should be heated to a maximum of 19 degrees Celsius (66.2°F) under planned legislation to save energy, the Sueddeutsche Zeitung quoted the economy minister as saying Continue Reading
European drought dries up rivers, kills fish, shrivels crops
Once, a river ran through it. Now, white dust and thousands of dead fish cover the wide trench that winds amid rows of trees in France’s Burgundy region in what Continue Reading
U.S. gasoline prices fall below $4 for first time since March
The average price of U.S. retail gasoline fell below $4 per gallon on Thursday for the first time in months, giving some relief to drivers in the world’s largest consumer Continue Reading
Oil Inches Up as IEA Boosts Demand Outlook on Fuel Switching
Oil edged higher after the International Energy Agency boosted its forecast for global demand growth this year. West Texas Intermediate rose 0.9% to trade above $92 a barrel, after earlier Continue Reading
Global physical oil market weakens as recession jitters mount
Physical oil prices around the world have begun to sag alongside futures, reflecting less alarm over Russian-led supply disruptions along with heightened worries about a possible global economic slowdown. “The Continue Reading
Oil drops on Druzhba pipeline news and U.S. inflation expectations
Oil prices edged lower on Wednesday on expectations that Druzhba pipeline flows will resume shortly and demand concerns ahead of the publication of key demand indicators. Brent crude futures fell Continue Reading
IEA raises 2022 oil demand growth forecast by 380,000 b/d
Highlights Raises OPEC+ output ‘call’ for 2022 by 700,000 b/d, lowers 2023 estimate Oil output hits post-pandemic high, 1 million b/d rise seen by end-2022 Raises H2 Russian oil supply Continue Reading
Fitch: Global Coal Price Rally Could Last For Years
The rally in coal prices, which began at the end of last year and intensified after the Russian invasion of Ukraine and the subsequent EU ban on Russian coal imports, Continue Reading
World’s largest ice sheet risks melting, threatens spike in sea levels
Scientists say the window for protecting the world’s largest ice sheet from significantly shrinking is narrowing, with troubling new predictions that it has the potential to unleash sea level rises Continue Reading
Nigeria: Buhari Backs Down, Supports Regulator’s Rejection of Seplat’s Purchase of ExxonMobil Asset
President Muhammadu Buhari A spokesperson says the president decided the position of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is to be supported, and the earlier confusion was because “various Continue Reading
CHINA DATA: Independent refineries boost discounted crudes imports 33% on month in July
China’s independent refineries boosted imports of discounted crudes from Venezuela, Iran, and Russia by 32.8% month on month to 8.3 million mt, or 1.96 million b/d, in July via the Continue Reading
China’s Mounting Risks Set Stage for PBOC to Rein In Stimulus
Bloomberg News China may be ready to curb some of the excess liquidity sloshing in the banking system as it turns its focus to mitigating risks in the financial industry. Continue Reading
U.S. consumer prices unchanged in July as cost of gasoline tumbles
U.S. consumer prices were unchanged in July due to a sharp drop in the cost of gasoline, delivering the first notable sign of relief for weary Americans who have watched Continue Reading
United Airlines Puts Down Deposit on Flying Taxis
United Airlines Holdings Inc. UAL 2.35%▲ has paid a $10 million deposit for 100 electric flying taxis, a sign that the airline is growing more confident in the nascent technology. Continue Reading
The Inflation Reduction Act Is A Game-Changer For Decarbonization
The Inflation Reduction Act (IRA) includes more than $170 billion of tax credits for the electric industry, designed to encourage the shift from carbon-intensive fuels. An analysis carried out in Continue Reading
U.S. Refiners See Demand Holding Strong Through Year-End
American refiners and oil and gas operators expect strong demand for fuels and energy through the remainder of the year, despite analyst concerns in recent weeks that demand could take Continue Reading
Freeport LNG Retracts Force Majeure, Leaving Buyers On The Hook For $8 Billion
The largest gas exporter in the United States, Freeport LNG, has retracted its force majeure, according to anonymous sources who shared the information with Reuters, leaving traders to source product Continue Reading
Oil Inches Higher After EIA Reports Large Crude Inventory Build
Crude oil prices inched down before the EIA reported its crude inventory report today, but saw a small jump after the release, when the agency reported that crude oil inventories Continue Reading
US natural gas prices could ease in 2023, potentially lowering northeast power prices: EIA
Mid-Atlantic power prices highest in years Mostly driven by higher fuel prices US Energy Information Administration analysts discussed the relationship between fuel costs and power prices, and how recent US Continue Reading
Falling Gasoline Prices Keep Inflation In Check
The U.S. Consumer Price Index (CPI) saw no real change in July, suggesting that inflation is easing as a result of falling gasoline prices, according to the latest data from Continue Reading
US gasoline demand rises while commercial crude stocks spike: EIA
Implied gasoline demand jumps 6.8% to 9.12 million b/d Commercial crude stocks spike by 5.5 million barrels Gasoline stocks plunge by 5 million barrels US gasoline demand rose for the Continue Reading
Retailers turn off lights, cut opening hours to save energy
As energy bills mount and the threat of rationing increases, some European retailers are turning off lights and considering shorter opening hours this winter. Energy bosses and government officials have Continue Reading
Sweden tops France as Europe’s largest net power exporter
Sweden overtook France as Europe’s largest net power exporter in the first half of 2022, as deep-rooted problems reduced French nuclear availability to historic lows, Energy analysts EnAppSys said on Continue Reading
Oil Tanker Freight Rates From US to Europe Soar to Two-Year High
Shipping costs for mid-size oil tankers from the US Gulf to Europe are near the highest levels since early in the pandemic, due to changes in trade flows amid Russia’s Continue Reading
Ukraine says 9 Russian warplanes destroyed in Crimea blasts
Ukraine’s air force said Wednesday that nine Russian warplanes were destroyed in a deadly string of explosions at an air base in Crimea, amid speculation the blasts were the result Continue Reading
Standard Chartered: Putin’s Gas Weapon Is Weakening As Inventories Build
Standard Chartered: “The power of Russia’s gas ‘weapon’ has deteriorated significantly,”. Europe started the 2021/2022 winter heating season with gas in storage below seasonal norms. Even if Russia cuts off Continue Reading
Russia Is Playing A Dangerous Game With Europe’s Largest Nuclear Plant
Russian occupiers of Europe’s largest nuclear plant are preparing to redict electricity production using aging technology. The move has been criticized by UN officials, with the IAEA issuing grave warnings Continue Reading
Europe’s dash for new LNG import infrastructure picks up pace
Germany decides on locations for five FSRUs Netherlands expects first FSRUs to start in 2022 Europe to face Asian competition for cargoes The scramble by countries across Europe to install Continue Reading
Climate risks dwarf Europe’s energy crisis, space chief warns
The head of the European Space Agency (ESA) has warned economic damage from heatwaves and drought could dwarf Europe’s energy crisis as he called for urgent action to tackle climate Continue Reading
Switch from gas boosts oil demand, but economic headwinds loom – IEA
Sweltering summer temperatures and soaring gas prices have boosted the use of oil in power generation, the International Energy Agency (IEA) said on Thursday, increasing demand but masking weakness in Continue Reading
Rhine River Level to Drop Further as IEA Sees Prolonged Crisis
The Rhine River is set to drop well below a critical depth over the weekend, signaling further turmoil for shipments of energy supplies on one of Europe’s most vital waterways. Continue Reading
Britain says sanctions also impact Russia’s defense sector
The European Union’s full ban on Russian coal imports kicked in on Thursday at a time when British defense intelligence said that Western sanctions were increasingly having an impact, even Continue Reading
Soaring European gas prices will drive higher oil use, IEA forecasts
Soaring oil use for power generation in Europe and the Middle East will boost crude consumption for the rest of the year, the International Energy Agency said on Thursday, as Continue Reading
Zelensky addresses tThe explosions in Crimea as photos suggest a major loss for Russia.
With satellite images showing at least eight wrecked warplanes after explosions at a Russian air base in Crimea, President Volodymyr Zelensky of Ukraine said late Wednesday that Moscow’s mounting losses Continue Reading
A Radical Plan To Reduce Europe’s Oil Demand By 33%
Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. With the cost of energy soaring across Europe, governments and NGOs Continue Reading
Brent-WTI Oil Price Spread at Highest Point Since 2014
The price spread between Brent and West Texas Intermediate oil increased to a high of $13.26 per barrel on July 29. The price spread between Brent and West Texas Intermediate Continue Reading
Crude oil futures rangebound amid lack of fresh cues
Highlights Oil prices supported by Druzbha pipeline disruption Upside capped by uncertain demand outlook Crude oil futures were mostly steady in mid-morning Asian trade Aug. 10 as prices continued to Continue Reading
Oil drops on Druzhba pipeline news and U.S. inflation expectations
Oil prices edged lower on Wednesday on expectations that Druzhba pipeline flows will resume shortly and demand concerns ahead of publication of key demand indicators. Brent crude futures fell 73 Continue Reading
Oil slips amid chance of Iran nuclear deal supply boost
Oil dropped over $1 a barrel on Tuesday, approaching a multi-month low hit last week, pressured by the latest progress in talks to revive the 2015 Iran nuclear accord, which Continue Reading
Gasoline-Demand Forecast Is Cut for This Year Amid High US Prices
The US will consume less gasoline this year than previously thought, although total demand will still top 2021 levels, according to the latest government forecast. Gasoline consumption for 2022 is Continue Reading
An Iran Nuclear Deal Could Send Oil Prices Tumbling Towards $80
Speculation that a new Iran nuclear deal could soon be agreed upon has added downward pressure to oil prices, although the disruption of Russian oil flows to Central Europe is Continue Reading