Note: According to Reuters’ sources, CATL is pressing ahead with plans to deliver lower-cost lithium iron batteries to Ford Motor Co. and with plans for battery production in North America Continue Reading
– The West’s energy giants are set to return a record $30 billion to investors after reporting bumper profits in the second quarter of the year following a surge in Continue Reading
Intensifying Texas heat is poised to test the power grid on Thursday with demand seen topping 80 gigawatts for the first time ever. Ample winds twirling turbines are expected to Continue Reading
Americans are officially driving less than they did in the summer of 2020, when pandemic travel restrictions all but halted movement. The four-week average of US gasoline consumption — the Continue Reading
The Western US is an empire built on snow. And that snow is vanishing. Since most of the region gets little rain in the summer, even in good years, its Continue Reading
Global demand for oil has fallen in recent weeks as economic growth has slowed around the world, including in China , analysts said. Demand data and consumer surveys also suggest Continue Reading
Crude oil prices fell today after the Energy Information Administration reported a build in crude oil inventories of 4.5 million barrels for the week to July 29. This compared with Continue Reading
Operator sticks to early October target for partial restart Shutdown of 15 million mt/year export facility impacting market Freeport LNG has reached an agreement with US regulators on certain corrective Continue Reading
The shrinking discount of U.S. crude to Brent and rising Canadian oil imports this month will send more barrels to the top U.S. oil storage hub, continuing a recent supply Continue Reading
German Chancellor Olaf Scholz on Wednesday said Russia had no reason to hold up the return of a gas turbine for the Nord Stream 1 pipeline that had been serviced Continue Reading
Gazprom (GAZP.MM) will receive 50% of a new Russian entity replacing the Sakhalin Energy liquefied natural gas (LNG) project, Russian news agencies reported on Wednesday, citing a government decree. Interfax Continue Reading
An oilfield near Neftekamsk, in the Republic of Bashkortostan, Russia. Source: Bloomberg Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Russia appears Continue Reading
German Chancellor Olaf Scholz said for the first time that his government could postpone the planned closure of its remaining nuclear reactors, as he criticized a decision by Russia to Continue Reading
Electricite de France SA, France’s state-owned utility, announced on Tuesday that it is highly likely it will be forced to extend cuts to nuclear generation as scorching weather pushes up Continue Reading
Russia registered 17,126 new cases of coronavirus in the last 24 hours, the highest daily increase since April 2, the country’s anti-pandemic taskforce said in a statement. The taskforce said Continue Reading
Europe gas storage 70% full, surpassing 5-year average Filling EU tanks to targets costs 50-55 bln euros-analysts Europe raised LNG imports to compensate for reduced Russia flows Despite building up Continue Reading
Oil prices dipped on Wednesday ahead of a meeting of OPEC+ producers at which producers are expected to keep output steady with spare capacity limited and against the backdrop of Continue Reading
The American Petroleum Institute (API) reported a surprise build this week for crude oil of 2.165 million barrels, while analysts predicted a draw of 467,000 barrels. The build comes as Continue Reading
Despite expectations of an economic slowdown, diesel demand appears to be rising unabated. For some countries around the world, diesel shortages are already a reality, and European countries are racing Continue Reading
Highlights Main producing field, Greater Burgan, is aging Kuwait has been averse to foreign investment But $1 billion loan deal with Japan could help Kuwait is close to exhausting its Continue Reading
OPEC+ might have to raise oil production to avoid market overheating, OPEC+ member Kazakhstan said on Wednesday, as the group of oil producers meets amid U.S. pressure to add barrels Continue Reading
Iraq is stuck in a purgatory of caretaker governance — unable to make strategic decisions in the oil sector and beyond — as political leaders in Baghdad escalate their 10-month Continue Reading
Total rice planted area has shrunk 13% due to lack of rainfall Traders are concerned that India may restrict rice exports Workers clean rice paddy at a wholesale market in Continue Reading
Highlights Cabinet approves $1.6 billion investment to develop oil block in Brazil New Delhi open to equity oil opportunities in other Latin American countries India’s aging fields struggling to keep Continue Reading
Outages disrupting Venezuela’s power and gas supplies to state-run energy firm PDVSA hit July oil exports, contributing to a 27% fall from the previous month, according to Refinitiv Eikon vessel Continue Reading
Venezuela’s crude oil exports fell in July, Refinitiv Eikon data showed on Tuesday, as oil markets are on the prowl for additional oil supplies to ease the tight market. Venezuela’s Continue Reading
Pelosi’s Taiwan Trip Spurs China Battery Giant to Pause Plant Debut A giant Chinese supplier of electric-vehicle batteries decided to push back announcing a multibillion-dollar North American plant to supply Continue Reading
Top U.S. shale oil producers say they remain laser focused on shareholder returns, limiting production expenditures largely to offset higher costs for equipment, supplies and services. The decision likely will Continue Reading
California water prices are at all-time high as a severe drought chokes off supplies to cities and farms across the Golden State. The price of water on the Nasdaq Veles Continue Reading
After a miserably hot summer across much of the country, don’t expect August to bring relief. Only the Southwest and Alaska are forecast to have cool or average temperatures over Continue Reading
Global demand for oil has fallen in recent weeks as economic growth has slowed around the world, including in China , analysts said. Demand data and consumer surveys also suggest Continue Reading
Amid a global semiconductor shortage, and as lawmakers dithered over a bill to boost U.S.-based chip manufacturing, Intel went to the Biden administration with a proposal that some officials found Continue Reading
The U.S. shale patch has been disappointing shareholders for over a decade now, struggling to return profits to investors. This year, all of that is going to change as the Continue Reading
U.S. gas prices hit at a 14-year seasonal high as the country battles persistent high temperatures. U.S. gas prices hit at a 14-year seasonal high as the country battles persistent Continue Reading
U.S. companies are reporting mostly upbeat news this earnings season, surprising investors who had been bracing for a gloomier outlook on both businesses and the economy. More than halfway into Continue Reading
The EU is weighing accelerating the development of manure-based fertilizers to limit reliance on Russian-made alternatives and the gas needed for domestic production. The Spanish and Dutch governments are “opening Continue Reading
France experienced its driest July on record as searing heat spread across Europe, putting strain in key crops. The average precipitation across the country was 8.1 millimeters (0.3 inches), making Continue Reading
The German government will have to amend its energy security law again in September as its gas levy cannot yet be imposed on all consumers, including those with fixed prices Continue Reading
Dust and mud is clogging the filters on a key pipeline sending natural gas from the UK to Europe, slowing down flows as the winter crunch time approaches. The operator Continue Reading
Fanning out like urban guerrillas through Paris’ darkened streets well after midnight, the anti-waste activists shinny up walls and drain pipes, reaching for switches to turn off the lights. Click. Continue Reading
A serious shortage of natural gas supplies could trigger “a chain reaction with unforeseeable consequences” for the German economy, said Commerzbank, one of the country’s biggest corporate lenders. The German Continue Reading
Highlights Turbine is ready to be transported to Russia: Scholz All relevant documentation prepared, needs Russian approval Nord Stream running at just 20% of capacity since July 27 German Chancellor Continue Reading
Oil held its decline, after closing at the lowest level in more than five months, as traders counted down to an OPEC+ meeting on supply amid signs that physical markets Continue Reading
Oil slipped on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as OPEC+ producers meet this week to decide Continue Reading
Oil prices dropped on Monday, as weak manufacturing data from China and Japan for July weighed on the outlook for demand, while investors braced for this week’s meeting of officials Continue Reading
Gail Tverberg is a writer and speaker about energy issues. She is especially known for her work with financial issues associated with peak oil. Prior… The price of energy has Continue Reading
OPEC pumped an extra 310,000 barrels of oil per day in July as rising supply from the Gulf offset outages in Nigeria and Libya, a Reuters survey showed on Monday, Continue Reading
Lebanon’s armed Hezbollah group threatened Israel that drilling at the Karish gas field could result in war. Israel and Lebanon are in a years-long dispute over the demarcation of their Continue Reading
Saudi Arabia recorded a GDP growth rate of 11.8 percent for the second quarter, driven by a 23.1-percent rise in oil income, according to preliminary data cited by Reuters. The Continue Reading
Iraq’s state-owned Basra Oil Company (BOC) has told international oil companies not to work with four major oil services companies operating in Iraqi Kurdistan — the first sign that the Continue Reading
