Europe’s Diesel Crisis Is Far From Over
Europe’s diesel crisis is set to worsen as refinery maintenance and unplanned outages result in reduced supply. The benchmark diesel profit margins in Europe rose last week to the highest Continue Reading
Oil Jumps as OPEC+ Mulls Biggest Production Cut Since Pandemic
The OPEC+ group of oil producers will consider cutting output by more than 1 million barrels a day, according to delegates. Stephen Stapczynski reports. Oil surged near $83 a barrel Continue Reading
Oil prices edge up ahead of OPEC+ meeting to discuss supply cuts
Oil prices rose on Tuesday as expectations that OPEC+ may agree to a large cut in crude output on Wednesday offset concerns about the global economy. Brent crude was up Continue Reading
Oil Bulls Finish September with Worst Month and Quarter in 2 Years
‘Crude at $130-$140 a barrel is as unsustainable as crude at $20-$30’. Oil bulls finished September with their worst month and quarter in two years, Barani Krishnan, a senior commodities Continue Reading
IEA: Global Gas Markets To Remain Tight Through 2023
The International Energy Agency (IEA) has predicted that global gas markets will remain tight next year as Russian piped gas supplies dwindle despite gas demand falling in Europe in response Continue Reading
Top oil traders see steady demand despite economic headwinds
Economic headwinds have yet to significantly erode the world’s demand for oil, top oil traders said at the Argus European Crude Conference in Geneva on Tuesday. The forecasts by senior Continue Reading
‘World should be worried’ by lack of spare oil output capacity: Aramco CEO
Global oil supply fundamentals remain tight: Nasser Aramco spare capacity targets on schedule Blames ‘shaming’ of oil and gas investments Spare global oil production capacity is running thin and the Continue Reading
Nord Stream Leak Is a Climate Disaster That Oil and Gas Repeat Daily
Nord Stream Gas Leaks Could Pose New Climate Disaster Planet-warming methane that’s bubbled up from the ruptured Nord Stream gas pipelines at the bottom of the Baltic Sea into the Continue Reading
Greenwashing Enters a $22 Trillion Debt Market, Derailing Climate Goals
Sustainability-linked bonds let companies borrow cheaply if they meet environmental, social, and governance targets. A Bloomberg News analysis found those goals are weak Illustrator: Richard A. Chance for Bloomberg Markets Continue Reading
Flaring practices allow more methane into the atmosphere than thought; simple fixes can have big impact
Oil and gas producers rely on flaring to limit the venting of natural gas from their facilities. New research led by the University of Michigan shows that in the real Continue Reading
Tight global oil supply can’t be reversed easily- Shell, Aramco CEOs
The oil market is not focusing on the fact that global spare capacity to raise oil production is very low, Saudi Aramco’s Chief Executive said on Tuesday, with Shell’s Chief Continue Reading
Oil Forges Higher as OPEC+ Must ‘Do Something’ at Vienna Meeting
WATCH: Fereidun Fesharaki of FGE,discusses the possibility of OPEC+ cutting its production by 1 million barrels a day, what the cut will mean for prices and where he sees them Continue Reading
Israel, TotalEnergies hold Paris talks on gas field off Lebanon, source says
A senior Israeli official was in Paris on Monday for talks with TotalEnergies SE (TTEF.PA) about potential future profit-sharing from exploration by the company in a natural gas field off Continue Reading
Iran’s Supreme Leader Condemns Protests Gripping Country
Iran’s supreme leader, Ayatollah Ali Khamenei, broke his silence Monday on the protests that have engulfed the country, accusing Israel and the United States of fomenting them and expressing his Continue Reading
Houthis Warn Oil Firms To Leave Saudi Arabia And The UAE
Yemen’s Houthis have warned oil companies operating in Saudi Arabia and the United Arab Emirates (UAE) to pack up and leave as the warring sides in the Yemeni conflict failed Continue Reading
Kazakhstan Pins Wave Of Cyberattacks On Foreign Actors
Kazakhstan has for the past week been on the receiving end of a wave of cyberattacks that IT experts say have slowed down internet connections across the country. The problem Continue Reading
Israel, Lebanon Near Maritime Border Deal, Opening Up New Gas Source for Europe
Israel and Lebanon are close to striking a U.S.-brokered deal on maritime borders that would allow Israel to export gas to Europe and mark a rare instance of economic cooperation Continue Reading
Yen Weakens Past 145 Per Dollar, Nears Prior Intervention Levels
Monex’a Simon Harvey discusses the yen’s drop and BOJ policy. The yen slid back past 145 per dollar, prompting renewed warnings from Japan’s finance minister and boosting speculation the government Continue Reading
China Is Rerouting U.S. Liquefied Natural Gas to Europe at a Big Profit
China’s ENN is expected to make a profit of between $110 million and $130 million on a single liquified natural gas shipment to Europe. SINGAPORE—The economic slowdown in China, a Continue Reading
US Coal Prices Climb Past $200 as Global Energy Crunch Boosts Demand
US coal prices surged past $200 for the first time as a global energy crunch drives up demand for the dirtiest fossil fuel. Spot prices for coal from Central Appalachia Continue Reading
Florida Cities Crushed by Ian Face Highest Borrowing Costs in Decade
Federal, state aid expected to ease much of the financial blow But localities choosing debt face struggling muni-bond market Damaged homes following Hurricane Ian in Matlacha Isles, Florida, on Oct. Continue Reading
U.S. manufacturing nearly brakes; price pressures abating
U.S. manufacturing activity grew at its slowest pace in nearly 2-1/2 years in September as new orders contracted amid aggressive interest rate increases from the Federal Reserve to cool demand Continue Reading
Drax: UK power station owner cuts down primary forests in Canada
Drax, Britain’s biggest power station, generates electricity by burning millions of tonnes of imported wood pellets By Joe Crowley and Tim Robinson BBC Panorama A company that has received billions Continue Reading
Why Curbing U.S. Fuel Exports Is A Bad Idea
The Biden Administration has once again floated the idea of limiting U.S. fuel exports in order to ease the pressure on consumers at the pump. Oil and gas industry groups Continue Reading
Sweden sends diving vessel to probe leaking Nord Stream pipelines
Sweden sent a diving vessel on Monday to the site of Russian gas pipelines in the Baltic Sea that ruptured last week following blasts in the area, to probe an Continue Reading
More U.S. LNG heads to Europe despite output constraints
U.S. producers of liquefied natural gas (LNG) boosted exports to Europe in September even as a plant outage kept overall shipments below the average for the first eight months of Continue Reading
Russia smuggling Ukrainian grain to help pay for Putin’s war
When the bulk cargo ship Laodicea docked in Lebanon last summer, Ukrainian diplomats said the vessel was carrying grain stolen by Russia and urged Lebanese officials to impound the ship. Continue Reading
Europe Is Betting Big On Geothermal Energy
Europe’s geothermal market is set to receive a major b oost in the coming years. Countries across the region are racing to ramp up geothermal heating capacity. The region is Continue Reading
Only One EU Member Is Still Receiving Russian Natural Gas
Three of four pipelines delivering Russian natural gas to Europe are now offline. Hungary is the only member of the European Union still receiving natural gas from Russia. Hungarian Prime Continue Reading
Norway deploys military to protect North Sea oil and gas assets
Police requested assistance from the military ConocoPhillips raises security at its Norwegian offshore assets UK’s MoD ‘safeguarding critical infrastructure’ Norway has beefed up its military presence around the North Sea Continue Reading
Europe Turns Its Back on Russian Crude as Sanctions Draw Closer
Goldman’s Currie: Oil Market Will Continue to Tighten The European market for Russia’s seaborne crude is drying up as sanctions draw nearer, and the country’s Asian customers aren’t picking up Continue Reading
Grim winter looms as wartime Ukraine braces for infrastructure attacks
In an abandoned tower block damaged by Russian shelling in Ukraine’s second city, Olga Kobzar plans to tough out winter for as long as she can without electricity, water, and Continue Reading
EU Parliament adopts rules for common charger for electronic devices
The European Parliament approved new rules on Tuesday that will introduce in the European Union a single charging port for mobile phones, tablets and cameras by 2024, in a world Continue Reading
European Gas Drops as Mild Weather and Stockpiles Ease Nerves
Prices have dropped about 50% from the highs of late August European natural gas prices extended declines as mild weather and ample stockpiles ease concerns about shortages. Benchmark futures declined Continue Reading
Crimean Tatar Minority Is in Crosshairs of Putin’s Draft
On Ukraine’s Crimean Peninsula, occupied by Russia since 2014 , indigenous Crimean Tatars say they are being targeted by Moscow for the military draft, leaving them with a stark choice: Continue Reading
Oil Jumps as OPEC+ Mulls Biggest Production Cut Since Pandemic
The OPEC+ group of oil producers will consider cutting output by more than 1 million barrels a day, according to delegates. Stephen Stapczynski reports. Oil surged near $83 a barrel Continue Reading
Oil jumps nearly $4 as OPEC+ weighs biggest output cut since 2020
Oil prices jumped almost $4 on Monday as OPEC+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its biggest Continue Reading
Global gas markets to remain tight next year amid supply squeeze, energy agency says
Global gas markets are expected to remain tight next year as Russian pipeline gas supplies dwindle and gas demand falls in Europe in response to energy saving measures and high Continue Reading
Flaring practices allow more methane into the atmosphere than thought; simple fixes can have big impact
Oil and gas producers rely on flaring to limit the venting of natural gas from their facilities. New research led by the University of Michigan shows that in the real Continue Reading
The Biggest Argument For Peak Oil
BP’s peak oil demand prediction in 2020 turned out to be wrong. A relatively large number of forecasts don’t see peak oil happening within the next few decades. Advancements in Continue Reading
As the Fertilizer Crisis Bites, Farmers Take Drastic Steps
Ditching oilseed crops for peas, preparing to cut herds and splashing out on tractor gadgets. That’s what European farmers are doing to try to cope with a worsening fertilizer crisis. Continue Reading
OPEC+ to Consider Output Cut of More Than 1 Million Barrels
Goldman’s Currie: Oil Market Will Continue to Tighten Sign up for our Middle East newsletter and follow us @middleeast for news on the region. OPEC+ will consider cutting oil output Continue Reading
Oil Prices Rally Into October As OPEC+ Plans A Production Cut
Following several weeks of decline, oil prices began to climb early on Monday morning on expectations of an OPEC+ production cut. Reports suggest that Russia is eager to cut production Continue Reading
Fuel for Thought: North Sea oil drone threat prophesied in the Middle East
North Sea waters have been considered one of the world’s most secure offshore basins for producing crude until now. Equinor, Total Energies and ConocoPhillips have all raised the security level Continue Reading
Power Cuts Drive South African Factory Activity to 14-Month Low
Purchasing managers’ index fell to 48.2 in September from 52.1 Index tracking expected business conditions suggests more pain Employees work at a sewing machine, powered by a generator, during a Continue Reading
Venezuela Releases Jailed U.S. Citizens in Prisoner Swap
Venezuela on Saturday released six U.S. citizens and one U.S. legal resident, who Washington said had been wrongfully detained in the South American country, as part of a major prisoner Continue Reading
Exxon May Emerge As The Biggest Winner In Guyana’s Oil Boom
Guyana is quickly becoming one of the hottest new oil frontiers on the planet. It is estimated that over 11 billion barrels of recoverable oil resources have been discovered in Continue Reading
China Tightens Lending Taps, Leaving African Markets Vulnerable
s Developing countries in Africa are losing a champion that for years allowed them to borrow at cheaper rates than they could find in capital markets. China, Africa’s largest bilateral Continue Reading
China Is Rerouting U.S. Liquefied Natural Gas to Europe at a Big Profit
China’s ENN is expected to make a profit of between $110 million and $130 million on a single liquified natural gas shipment to Europe. SINGAPORE—The economic slowdown in China, a Continue Reading
China property woes trigger decline in global cement output
The biggest fall in Chinese cement production in at least two decades has dragged global output of the construction material into decline, demonstrating how a crisis in the country’s vast Continue Reading