Inflation Is Unrelenting, Bad News for the Fed and White House
Prices continued to climb at a brutally rapid pace in September, with a key inflation index increasing at the fastest pace in 40 years, bad news for the Federal Reserve Continue Reading
EU, U.S. eye level playing field for EU electric cars in U.S. market
– European Union and U.S. officials expect to reach agreement that would grant EU companies, including electric car makers, the same status as U.S. ones in the U.S. market, to Continue Reading
Putin touts Turkey gas hub while Europe looks to cut consumption
President Vladimir Putin touted Turkey on Thursday as the best route for redirecting gas supplies to the European Union after Nord Stream pipeline leaks, while Western nations focused on efforts Continue Reading
Kremlin-appointed Kherson leader seeks Russia’s help to evacuate civilians
The Russian-installed head of the occupied Ukrainian region of Kherson has appealed to Moscow for help in evacuating residents, signaling that Kyiv’s counteroffensive in the area may be picking up Continue Reading
Spain Withdraws From European Energy Treaty Over Climate Concerns
After months of speculation, Spain has officially kicked off the process of withdrawing from the Energy Charter Treaty , a European treaty that seeks to protect energy investments, over climate Continue Reading
Russia’s Oil Revenues Drop To The Lowest Level This Year
Falling crude oil prices and declining oil exports resulted in a $3.2-billion drop in Russia’s oil revenues to $15.3 billion for September, the lowest monthly oil export revenue for Moscow Continue Reading
Russia’s Novak casts doubt on Europe’s ability to meet peak winter gas demand
Highlights Situation ‘really critical’ for Europe this winter Novak questions which suppliers can replace Russian gas Deliveries to China to reach 22 Bcm in 2023 Russia’s Deputy Prime Minister Alexander Continue Reading
France’s CGT union extends strikes at TotalEnergies as petrol crisis drags on
France’s CGT union, at the core of a weeks-long strike at oil major TotalEnergies (TTEF.PA) , walked away from wage talks on Thursday night, dashing hopes for an end to Continue Reading
Strikes disrupt power output at French nuclear plants – union
A strike over wages has cut nuclear production at two power stations operated by EDF (EDF.PA) , a French FNME trade union representative said, while two other sites are preparing Continue Reading
German car industry baulks at supplier demands over energy hikes
Germany’s giant carmakers may have secured their own energy supplies but thousands of small suppliers faced with a squeeze from soaring bills risk upsetting production through the winter. More and Continue Reading
Europe Gas Set for Weekly Loss as Germany Beats Storage Target
Nation’s reserves are 95% full two weeks ahead of schedule Region likely to avoid unusually cold winter: climate model Europe’s gas storage sites are more than 91% full. Photographer: Krisztian Continue Reading
Sweden’s Incoming Cabinet Says Will Build New Nuclear Reactors
Sweden’s incoming government will ask state-run utility Vattenfall AB to add nuclear power stations as the economy becomes increasingly electrified. “New reactors will be built in Sweden,” Ebba Busch, whose Christian Democrat Continue Reading
French Refineries Strike May Presage a Winter of Discontent for Europe
This northern port city is less than 25 miles away from two major oil refineries. But on Friday, the pumps at many gas stations were wrapped in red and white Continue Reading
Refinery Strikes Continue In France As Union Rejects Pay Rise Offer
The hard-left CGT trade union walked out of wage increase talks with TotalEnergies early on Friday, vowing to continue the strike at refineries that has crippled France’s fuel supply, despite Continue Reading
Europe facing gas insecurity, ‘uncontrolled deindustrialization’ through 2025
Highlights Fuel switching, LNG, efficiency and rationing Near term tough on Europeans, industry Europe will likely manage a drop in Russian natural gas supplies this winter as the war in Continue Reading
Russia Sanctions Spur Buying Frenzy for Ice-Breaking Tankers
The cost of oil tankers that can navigate icy waters has surged. The cost of oil tankers that can navigate icy waters has surged ahead of looming European Union sanctions Continue Reading
Oil Heads for Longest Losing Run Since 2021 on Slowdown Concerns
Oil fell for a fourth day, set for the longest losing run in more than a year, as investors fretted that a global slowdown would hurt energy consumption and an Continue Reading
Oil Prices Under Pressure As Standard Chartered Lowers Global Demand Forecast
Standard Chartered has lowered its global oil demand outlook for next year, suggesting that oil demand won’t break the all-time highs of 2019. The decision by OPEC+ to cut its Continue Reading
IMF Recession Warning Deals Blow To Oil Prices
Crude oil prices extended their slide after the International Monetary Fund reported an update to its global economic projections for this year, which deepened fears of recession. In the latest Continue Reading
Analysts No Longer Expect 2023 Oil Demand to Pass All Time High
Analysts at Standard Chartered no longer expect 2023 average global oil demand to surpass 2019’s all-time high. Analysts at Standard Chartered have announced in a new report that they no Continue Reading
Oil Falls After API Reports Large Crude Inventory Build
The American Petroleum Institute (API) reported a large build this week for crude oil of 7.054 million barrels. U.S. crude inventories have grown by roughly 28 million barrels so far Continue Reading
LNG Market Facing Its Most Violent Year Yet
There are still winter risks ahead. The LNG market is facing its most violent year yet, and there are still winter risks ahead. That’s what BofA Global Research stated in Continue Reading
OPEC+ oil supply cuts could tip world into recession, IEA says
A decision by the OPEC+ oil producer group last week to rein in output has driven up prices and could push the global economy into recession, the International Energy Agency Continue Reading
Rockets strike Iraq’s Green Zone as deadlocked parliament meets
Nine rockets landed on Thursday around the Iraqi capital’s Green Zone, home to government buildings and foreign missions, the military said, shortly before parliament began a session to elect a Continue Reading
Nigeria’s Oil Production to Get Boost As Shell Resumes Export At 400,000bpd Forcados Terminal Month End
After months of under-production and heavy dip in foreign exchange earnings from oil export due to crude theft and vandalism, Nigeria’s oil production is set to rise again as Shell Continue Reading
Analysis: China faces its “Sputnik” moment as US export curbs deal a blow to its chip ambitions
U.S. export restrictions on chip equipment to China are likely to lead to its “Sputnik” moment, prompting Chinese chipmakers to try creative engineering solutions and chart their own course even Continue Reading
China’s Bursting Housing Bubble Will Rock the Economy for Years
Covid Zero Weighs on China’s Economy Bloomberg News The wave of stimulus aimed at reviving China’s housing market — billions in bank loans, interest rate cuts and support for developers Continue Reading
China Covid: Frustration as Beijing hit by restrictions ahead of congress
Exhibitions highlighting China’s achievements under Xi Jinping have been set up around the country ahead of the congress By Tessa Wong & Stephen McDonell BBC News, Singapore and Beijing Frustration Continue Reading
Las Vegas Leads in Water Conservation Amid Worst Drought in 1,200 Years
The city’s focus on water—and the constant pressure on its supply—has helped shape it into an internationally recognized leader in water conservation. News moves fast, and there’s not always time Continue Reading
U.S. home heating bills expected to surge this winter -EIA
U.S. consumers can expect to pay up to 28% more to heat their homes this winter than last year due to surging fuel costs and slightly colder weather, the U.S. Continue Reading
Greenland Ice Sheet May Be More Vulnerable to Climate Change, Study Finds
Researchers monitoring water temperatures in Sermilik Fjord, southeast Greenland. Climate change may be having more impact on the melting Greenland ice sheet than previously thought, new research suggests. The study Continue Reading
Short-Term Energy Outlook
Forecast Highlights Winter Fuels Outlook In our Winter Fuels Outlook, we forecast that average household expenditures for home heating fuels will increase this winter because of both higher expected fuel costs Continue Reading
US EIA cuts forecast for 2023 global liquids production, demand
Highlights Lowers WTI, Brent price forecasts Warns of higher winter heating oil costs US crude output to average 12.4 million b/d in 2023 The US Energy Information Administration on Oct. Continue Reading
Amid historic drought, California expected to approve $140 mln desalination plant
Oct 13 (Reuters) – A $140 million desalination plant is expected to be approved by California regulators on Thursday as the U.S. state contends with how to convert ocean water Continue Reading
Nissan takes $687 mln loss as sells Russian business for 1 euro
Nissan Motor Co Ltd (7201.T) will hand over its business in Russia to a state-owned entity for 1 euro ($0.97), it said on Tuesday, taking a loss of around $687 Continue Reading
French nuclear approaches 30 GW, minister calls for 50 GW early-January
French nuclear output is approaching the 30 GW mark slightly behind schedule as Economy Minister Bruno Le Maire on Oct. 11 called upon operator EDF to have 50 GW available Continue Reading
Europe’s Oil Imports at 2-Year High Even as Russia Share Shrinks
Europe is succeeding in diversifying its crude purchases ahead of the upcoming sanctions on Moscow, as its imports grew last month even as the share of Russian barrels shrank. Crude Continue Reading
France orders fuel depot strikers back to work, union vows to challenge it
Government requisitioning staff at Esso France depot CGT union says will challenge requisition in court France not ruling out staff requisitions at Total Dunkirk Government says strike ‘unbearable’ for consumers Continue Reading
Russia Claims It Can Maintain Oil Production At 9.9 Million Bpd
Russia’s Deputy Prime Minister believes the country will maintain production at 9.9 million barrels per day in October. Vladimir Putin vowed that Russia would maintain this level of production until Continue Reading
Oil falls more than 2% on recession and China COVID fears
– Oil slid more than 2% on Tuesday, extending losses of nearly 2% in the previous session, as recession fears and a flare-up in COVID-19 cases in China raised concern Continue Reading
Oil falls as investors take profit amid China demand concerns
Oil prices fell on Monday, snapping five days of gains, as investors took profits after a report on slowing economic activity in China, the world’s biggest crude importer, re-ignited concerns Continue Reading
OPEC cut spurs U.S. hedging – but against lower oil prices
The decision by the Organization of the Petroleum Exporting Countries and allies last week to cut oil production has spurred a flurry of activity in the options market – but Continue Reading
OPEC+ Cut Will Further Raise Tensions with the West
‘This has led to speculation that Washington may seek to further ramp-up pressure on the group, including via revival of the NOPEC bill’. OPEC+’s latest production cut will further raise Continue Reading
OPEC+ crude oil production rises in September, but still widely lags quotas: Platts survey
OPEC+ output rises 170,000 b/d, quota gap at 3.6 mil b/d Saudi Arabia pumps near quota, but Russia stagnates Nigeria hits lowest since Platts survey began in 1988 Not registered? Continue Reading
Iran toughens crackdown as some oil workers reported to join protests
Iranian security forces intensified a crackdown on anti-government protests in several Kurdish cities on Monday, as demonstrations elsewhere in Iran spread into the country’s vital energy sector. Protests have swept Continue Reading
Iran Oil Workers Strike as Antigovernment Protests Expand
The southern Iranian port town of Assaluyeh, where workers have blocked roads and protested. Workers at a petrochemical complex in southern Iran went on strike Monday, the latest sign that Continue Reading
Israel says ‘historic’ sea border deal struck with Lebanon
Israel’s prime minister said Tuesday that the country has reached a “historic agreement” with neighboring Lebanon over their shared maritime border after months of U.S.-brokered negotiations. It’s a rare agreement Continue Reading
U.S. Looks To Punish Saudi Arabia For Large OPEC+ Cut
Saudi Arabia’s latest move to cut crude oil production, despite U.S. please not to do so, should not have surprised Washington, and yet it did The immediate impact on crude Continue Reading
Senior U.S. Senator Wants To Halt All Cooperation With Saudi Arabia
U.S. Democratic Senator Bob Menendez, who is chairman of the U.S. Senate Foreign Relations Committee, blasted Saudi Arabia for leading the OPEC+ group into announcing a cut in oil production Continue Reading
Nigeria: Oil Theft – Oil Thieves, Security Officials, Communities Collude to Steal Crude – Wunti, NAPIMS GGM
GROUP General Manager, GGM, National Petroleum Investment Management Services, NAPIMS, Bala Wunti, has said there is close collaboration among oil bunkerers, security officials, communities, and others in breaching the nation’s Continue Reading