The vast nuclear plant in the eye of the war in Ukraine
– The Zaporizhzhia nuclear power plant in southern Ukraine has been shelled in recent days, opening up the possibility of a grave accident just 500 km (around 300 miles) from Continue Reading
U.S. sour crude cargo sails to Germany as Russia sanctions bite
A tanker of U.S. sour crude was delivered at Germany’s port of Rostock last week for the first time ever, according to sources, analysts, and vessel tracking data, as local Continue Reading
UK Electricity Theft Breaks Records As Energy Bills Soar
The average annual UK gas and electricity bill rose from £1,400 in October 2021 to £2,000. Analysts are predicting that average energy bills could climb even higher, with the lowest Continue Reading
IAEA Sees “Very Real Risk Of A Nuclear Disaster” In Ukraine
The head of the International Atomic Energy Agency, Rafael Mariano Grossi, has warned that there is a “very real risk of a nuclear disaster” due to the situation around the Continue Reading
German economy to lose $265 billion in added value due to war, high energy prices – study
Germany’s economy will lose more than 260 billion euros ($265 billion) in added value by 2030 due to the Ukraine war and high energy prices, spelling negative effects for the Continue Reading
Ukrainian resistance grows in Russian-occupied areas
In a growing challenge to Russia’s grip on occupied areas of southeastern Ukraine, guerrilla forces loyal to Kyiv are killing pro-Moscow officials, blowing up bridges and trains, and helping the Continue Reading
As Many as 80,000 Russian Troops Hurt or Killed in Ukraine, Pentagon Says
As many as 80,000 Russian troops have been wounded or killed in less than six months of fighting in Ukraine , the Pentagon said Monday, the first time the U.S. Continue Reading
Norway set to curb electricity exports in blow to European energy supplies
Norway is to curb electricity exports to Europe if water levels for its hydropower plants remain low in a blow to hopes that the Nordic country could help ease its Continue Reading
Oil stays near multi-month lows on demand worries
Oil prices inched up from multi-month lows on Monday as lingering worries about demand weakening on the back of a darkened economic outlook outweighed some positive economic data from China Continue Reading
Oil Endures Choppy Start to Week With Demand Concern to the Fore
Tanker trucks sit on a gravel median waiting to be dispatched to drill sites in the Permian Basin area of Loving County, Texas. Photographer: Angus Mordant/Bloomberg Bloomberg News Oil shook Continue Reading
The Global Diesel Crunch Is Going To Get Worse
With a European ban on Russian crude and fuels looming, diesel markets are set to tighten even further despite weak economic growth. Distillate fuel inventories in the U.S. just witnessed Continue Reading
Iran, U.S. Close In on Nuclear Deal Text but Hurdles Remain
Iran’s chief negotiator in the nuclear talks, Ali Bagheri-Kani, in Vienna on Thursday. The U.N. probe into the man-made nuclear material found in Iran is highly sensitive for Tehran, which Continue Reading
Heat wave in Baghdad sends temperature to 122, cripples power grid –
Oil prices inched up from multi-month lows on Monday as lingering worries about demand weakening on the back of a darkened economic outlook outweighed some positive economic data from China Continue Reading
Nigeria: No Respite for Nigeria As Oil Production Falls to 1.083 Million BPD in July
*Deficit exceeds 700,000bpd despite assurances of increased drilling The expectation that Nigeria’s current dollar crunch could subside soon has again been dashed as the country’s crude oil production remained below Continue Reading
Nigerian oil output falls 6% in July as pipeline closures persist
Highlights July production falls 89,256 b/d to 1.31 million b/d Bonny Light hits lowest level in decades, force majeure still in effect Political risks could deteriorate ahead of 2023 elections Continue Reading
China’s commodity imports mixed with weak crude, improving metals
China’s imports of major commodities presented a mixed picture in July, with crude oil undeniably weak, but some signs of life in industrial metals such as copper and iron ore. Continue Reading
Two Chinese Cities Approve Baidu’s Unmanned Self-Driving Taxis
China took a notable regulatory step in the field of driverless taxis, with two cities giving Baidu Inc. BIDU -1.61%▼ approval to operate ride-hailing services without a driver or a Continue Reading
What’s driving the massive, destructive rainfalls around the country
At one weather station in Fairbanks, Alaska, each hour of rainfall is about 50 percent more intense, on average, than it was a half-century ago. The Wichita area is experiencing rains Continue Reading
CHINA DATA: July crude imports rise 1% from June’s 47-month low to 8.8 mil b/d
China’s crude oil imports remained weak, as expected, in July, edging up a mere 0.9% to 8.83 million b/d from the 47-month low in June amid destocking activity and slow Continue Reading
U.S. fuel retailers rail against green aviation fuel tax credit
U.S. fuel retailers are fighting the inclusion of a tax credit for sustainable aviation fuel (SAF) in Democrats’ $430 billion spending bill, arguing SAF is more carbon intense and less Continue Reading
Five Decades in the Making: Why It Took Congress So Long to Act on Climate
In 1969, President Richard Nixon’s adviser Daniel Patrick Moynihan wrote a memo describing a startling future. The increase of carbon dioxide in the atmosphere caused by burning oil, gas and coal, Mr. Continue Reading
Dodgy Demand Data? The Oil Price Collapse Conspiracy
WTI oil prices have given up nearly all their gains since Russia invaded Ukraine, falling roughly 9.5% over the course of the week amid fears oil demand is collapsing. Some Continue Reading
What’s Really Happening With Gasoline Demand?
As President Biden is reminding everyone who will listen, gasoline prices in the United States have been falling for 50 days straight. A debate has been raging over exactly how Continue Reading
USA Senate Passes Inflation Reduction Act
The U.S. Senate has passed the Inflation Reduction Act of 2022. The U.S. Senate has passed the Inflation Reduction Act, which will now head to the U.S. House Of Representatives. Continue Reading
UN chief demands international access to Ukraine nuclear plant after new attack
Aug 8 (Reuters) – U.N. Secretary-General Antonio Guterres called on Monday for international inspectors to be given access to the Zaporizhzhia nuclear plant after Ukraine and Russia traded accusations over Continue Reading
Siemens Energy warns of deeper net loss over Russia restructuring
Siemens Energy (ENR1n.DE) , which supplies equipment to the power industry, on Monday warned of a deeper than previously expected net loss in 2022, on a charge of around 200 Continue Reading
Energy companies urge UK to detoxify gas exports to EU
Energy companies have urged the UK to take “urgent” action over the amount of “toxic” and “hazardous” contaminants in the gas it is processing for export to the EU. They Continue Reading
How Will Gazprom Fare Without Its Biggest Cash Cow?
Gazprom’s future is facing increasing uncertainty as Europe races to reduce its dependence on Russian gas. Gazprom possesses the world’s largest reserves of natural gas, but losing one of its Continue Reading
Another 4 vessels carrying corn, sunflower products leave Ukraine’s deep sea ports
A second convoy of four vessels sailed from Ukraine’s deep sea ports Aug. 7, following the first convoy on Aug. 5, showing the feasibility of the “humanitarian maritime corridor” for Continue Reading
What’s Really Happening With Gasoline Demand?
As President Biden is reminding everyone who will listen, gasoline prices in the United States have been falling for 50 days straight. A debate has been raging over exactly how Continue Reading
Sanctions Are Making It Difficult For Afghanistan To Pay Its Energy Debts
Afghanistan has struggled to pay its energy debts due to sanctions on the Taliban government. While the country has been able to settle outstanding debts owed to Uzbekistan, it is Continue Reading
China’s exports gain steam but outlook cloudy as global growth cools
China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its struggles to recover from a COVID-induced slump, but weakening global demand could Continue Reading
China Eases Rules for International Covid Flight Suspensions
China shortened the length of suspensions for inbound airline flights that carry passengers infected with Covid-19, the latest sign the nation may be ready to ease virus-control measures for international Continue Reading
China’s Export Growth Stays Unexpectedly Robust, Offsetting Broader Weakness
China’s export machine remained surprisingly resilient in July following a strong bounceback from the spring’s harsh Covid-19 restrictions, defying again predictions of softening global demand for Chinese-made goods. Chinese shipments Continue Reading
Senate Democrats Close In on Passing Climate and Tax Bill
The Senate continued to plow through a series of amendments on Democrats’ climate and tax package , closing in Sunday on passing elements of President Biden’s agenda that have languished Continue Reading
Dems push Biden climate, health priorities toward Senate OK
Democrats drove their election-year economic package toward Senate approval early Sunday, debating a measure with less ambition than President Joe Biden’s original domestic vision but that touches deep-rooted party dreams Continue Reading
U.S. automakers say 70% of EV models would not qualify for tax credit under Senate bill
Most electric-vehicle models would be ineligible for a $7,500 tax credit for U.S. buyers under a Democratic proposal in the U.S. Senate, a group of major automakers said on Friday. Continue Reading
U.N.’s nuclear watchdog warns on Ukraine plant; Russia shells ‘dozens’ of towns
Aug 7 (Reuters) – The head of the International Atomic Energy Agency raised grave concern about shelling at a nuclear power plant in Ukraine, as its military said Russian forces Continue Reading
Four cargo ships sail from Ukraine Black Sea ports
Four ships carrying Ukrainian foodstuffs sailed from Ukrainian Black Sea ports on Sunday as part of a deal to unblock the country’s sea exports, Ukrainian and Turkish officials said. The Continue Reading
Turkey Agrees To Pay For Russian Gas With Rubles
Turkey’s President Tayyip Erdogan and Russia’s President Vladimir Putin agreed on Friday to bolster cooperation after a four-hour meeting, a joint statement from the two nations has revealed as cited Continue Reading
Oil prices end week on multi-month lows on recession fears
Oil prices settled higher on Friday, recouping some of this week’s losses on strong U.S. job growth data, but closed the week at their lowest levels since February, rattled by Continue Reading
Oil Posts Biggest Weekly Loss Since April On Demand Concerns
Oil posted the biggest weekly decline since early April on growing signs that a global economic slowdown is curbing demand. Prices are near the lowest level in six months. West Continue Reading
Nigeria Says It Owes $47 Billion to the Nation’s Central Bank
Nigeria said it owes 20 trillion naira ($47 billion) to its central bank and the obligations are yet to be added to the African nation’s outstanding public debt, according to Continue Reading
Kazakhstan’s 300,000-Bpd Kashagan Oilfield Halts Output
Kazakhstan’s Kashagan field was shut down after a gas leak was detected on Thursday. No people were harmed, and no excessive pollution was detected following the gas leak detected on Continue Reading
Big Oil Is Paying Out Years of Dividends in One Day
Some oil and gas companies are flush with so much cash that they are paying out a full year’s worth of dividends in a single day — and sometimes more Continue Reading
Energy Transfer reports Louisiana natgas pipeline ruptured in July
Energy pipeline operator Energy Transfer LP has disclosed a pipeline rupture in Louisiana last month that released 8.2 million cubic feet of natural gas, according to a report filed with Continue Reading
July Jobs Report: U.S. Added 528,000 New Jobs as Unemployment Rate Fell to 3.5%
The U.S. economy has now recouped the 22 million jobs lost early in the pandemic, adding 528,000 positions in July as employers clamored for workers despite a slowdown in economic Continue Reading
GOP Lawmakers Lobby Oil Industry to Denounce Tax-and-Climate Bill
Congressional Republicans are ramping up pressure on the oil-and-gas industry to take an aggressive stance against the Democrats’ tax-and-climate bill , frustrated that the industry hasn’t done more to help Continue Reading
At Ford, Quality Is Now Problem 1
Josh Halliburton HAL 1.91%▲ joined Ford F -0.46%▼ Motor Co. in January to help improve its shaky quality record. Within months it was clear how big a challenge he faced. Continue Reading
U.S. Drilling Activity Slows As Prices Ease
The number of total active drilling rigs in the United States fell by 3 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading