Libya’s crude production has returned to 1.2 million b/d after the lifting of force majeure on oil fields and exports on July 15, state-owned National Oil Corp. said July 31, Continue Reading
ADNOC awarded $2 billion worth of drilling contracts for Hail and Ghasha sour gas projects. The UAE is looking to achieve self-sufficiency in natural gas production. The contracts are part Continue Reading
China’s “precarious” debt trajectory and its slowing population growth mean it could be eclipsed by India as the world’s most important buyer of minerals in a decade, according to Dambisa Continue Reading
Emerging economies in Asia face prolonged electricity crises and continued rolling blackouts as spot LNG prices surge and high demand from Europe is pricing Southeast Asia out of the tight Continue Reading
Beijing reluctant to spend its way out of real-estate troubles Goldman sees steel demand heading for 5% decline this year Bloomberg News China’s steel industry is entering a precarious new Continue Reading
The United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars’ in Iranian oil and petrochemical products to East Continue Reading
Six years ago, China suffered a severe natural gas shortage and has since been very careful to ensure it has as much gas as it needs before winter. One of Continue Reading
Shoppers inside a grocery store in San Francisco, California.Photographer: David Paul Morris/Bloomberg The official arbiters of US recessions look at six monthly indicators in determining whether the nation is indeed Continue Reading
U.S. manufacturing activity slowed less than expected in July and there were signs that supply constraints are easing, with a measure of prices paid for inputs by factories falling to Continue Reading
The U.S.emergency crude oil stockpile fell by 4.6 million barrels last week its lowest level since May 1985, according to the Department of Energy on Monday. Crude held in the Continue Reading
Power use in Texas will break records again this week as homes and businesses crank up their air conditioners to escape another heatwave, the state’s power grid operator projected on Continue Reading
The national average for a gallon of gasoline in the United States fell again on Monday to $4.212, according to AAA data. U.S. gasoline prices are down 14.3 cents from Continue Reading
ExxonMobil has announced an estimated second-quarter 2022 earnings of $17.9 Bn. A record quarter for the company. U.S. oil supermajor ExxonMobil has announced an estimated second-quarter 2022 earnings of $17.9 Continue Reading
Manchin Pitches Sinema on Democrats’ Tax-Climate Bill The climate and tax spending deal announced last week by Senate Majority Leader Chuck Schumer and Senator Joe Manchin could cost billions in Continue Reading
If signed into law, the bill’s hefty tax incentives for low-carbon technologies could enable the country to cut its net greenhouse gas emissions by roughly 40 percent below 2005 Continue Reading
Hot weather and high gas prices in Texas and the Southeast are posing a renewed threat to gas storage in the US South Central region as strong spot gas demand Continue Reading
A new study from Juniper Research forecasts that the volume of electric vehicle battery pack shipments will reach 30 million in 2027 up from 10 million in 2022. The research Continue Reading
News that his ship would be allowed to leave the Ukrainian port of Odesa carrying grain was the “best feeling” of the year, a joyful crew member said on Monday, Continue Reading
Germans more often than not choose to be cremated when they die – which would be a problem if Russia turns off the gas. As Western sanctions heighten tensions between Continue Reading
Baker Hughes (BKR.O) said on Monday it signed a deal to sell its oilfield services (OFS) business in Russia to the local management team, months after stopping new investments in Continue Reading
Ukrainian Infrastructure Minister Oleksandr Kubrakov speaks on “Bloomberg Markets: European Close.” Ukraine laid out plans to cautiously ramp up grain exports as the first shipment since Russia’s invasion was hailed Continue Reading
Russian shipments stabilize Russia’s seaborne crude shipments have stabilized at a level about 500,000 barrels a day below the peak they reached after Moscow’s troops invaded Ukraine in February and Continue Reading
The utility in the large German city of Munich has restarted two power plants running on oil in a bid to save natural gas amid very low and highly uncertain Continue Reading
A new BofA Global Research report sent to Rigzone recently has revealed the identity of Europe’s number one gas supplier. According to a BofA Global Research report sent to Rigzone 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
The price of wheat has tumbled from its peak after Russia invaded Ukraine, but experts say one of the world’s most widely consumed foods remains in short supply and warn Continue Reading
The agriculture markets have been packed with headline-grabbing events, with extreme price volatility for all major grains and oil seeds in the last two years. The possibility of a continued Continue Reading
Russia’s Rosatom has awarded TSM Enerji the contract to undertake the remaining construction work at the $20 billion nuclear power plant it is building in Akkuyu in southern Turkey, the Continue Reading
OPEC’s new secretary general said that Russia’s membership in OPEC+ is vital for the success of the agreement, Kuwait’s Alrai newspaper reported on Sunday, quoting an exclusive interview with Haitham Continue Reading
The U.S. is considering sanctions that would target a United Arab Emirates-based businessman and a network of companies suspected of helping export Iran’s oil, part of a broader effort to Continue Reading
Highlights Kingdom’s revenues from oil activities rise 23.1% Platts Analytics estimates fiscal breakeven of $69/b Output quota 11 mil b/d in August under OPEC+ deal OPEC kingpin Saudi Arabia has Continue Reading
Gasoline and gasoil sales by Indian state refiners in July fell from a month earlier as monsoon rains restricted mobility and construction work while high inflation curtailed overall demand for Continue Reading
The entry of renewable energy sources should not be viewed as a threat to coal’s standing at least in the immediate future as coal would continue to fuel India’s electricity Continue Reading
Decision in October on whether to restrict exports – minister East coast shortfall could equal 10% of demand – watchdog Supply gap equivalent to 14 LNG spot cargoes Government extends Continue Reading
Residents line up for a Covid-19 test in Shanghai, in June. Photographer: Qilai Shen/Bloomberg Bloomberg News China’s economy weakened further in July amid a resurgence in Covid outbreaks, China Beige Continue Reading
Tesla Inc. has signed new long-term deals with two of its existing Chinese battery-materials suppliers, the latest move by automakers to secure supplies amid intensifying competition. Zhejiang Huayou Cobalt Co. Continue Reading
A VinFast SUV was unveiled at the 2021 L.A. Auto Show in Los Angeles. Vietnam’s Vingroup JSC VIC -4.48%▼ became a corporate juggernaut in its home country, operating everything from Continue Reading
Japan’s manufacturing sector slowed in July, as the au Jibun Bank Japan purchasing managers’ index compiled by S&P Global Commodity Insights dipped to 52.1 from 52.7 in June, the data Continue Reading
A nascent two-month recovery in China’s home sales ended in July, as a widespread mortgage revolt over concerns that ailing property developers wouldn’t be able to deliver still-unfinished apartments weighed Continue Reading
China’s factory activity unexpectedly contracted in July, reversing earlier economic momentum as sporadic Covid outbreaks weigh on the recovery. The official manufacturing purchasing managers index fell to 49 from 50.2 Continue Reading
US shale drillers are expected to post record second-quarter profits in coming days, reversing nearly a decade of debt-fueled losses. The top 28 publicly traded US independent oil producers generated Continue Reading
One way they are doing so is by relying more on dollar and discount stores for groceries. Average spending on grocery products at discount chains increased 71% from October 2021 Continue Reading
A fast-growing wildfire fueled by strong winds from thunderstorms and high temperatures in Northern California has grown to more than 52,000 acres in two days, becoming the state’s largest wildfire Continue Reading
If you’ve traveled much by air over the past few months, chances are you have encountered difficulties: flight delays and cancellations, misplaced luggage, massive lines for check-in and security. Commercial Continue Reading
America’s oil inventories are hovering around multi-year lows despite releases from the SPR. Distillate fuel oil inventories, which are most closely related to the economic cycle, are at the lowest Continue Reading
Gas demand from all customers of French utility giant Engie has dropped in recent weeks amid surging natural gas prices in Europe as Russia slashed deliveries, the French company said Continue Reading
ExxonMobil has announced an estimated second-quarter 2022 earnings of $17.9 Bn. A record quarter for the company. U.S. oil supermajor ExxonMobil has announced an estimated second-quarter 2022 earnings of $17.9 Continue Reading
Russia’s idled primary oil refining capacity was revised up to 2.591 million tonnes in August, up 34% from the previous estimate, sources citing refinery maintenance data and Reuters calculations showed Continue Reading
German retailers ended the first half of 2022 with the sharpest year-on-year sales drop in nearly three decades, as inflation, the Ukraine war and the coronavirus pandemic take their toll, Continue Reading
Manufacturing activity across the euro zone contracted last month with factories forced to stockpile unsold goods due to weak demand, a survey showed on Monday, adding to concerns the bloc Continue Reading
