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Breaking News:

U.S. Gasoline Prices Ripe For Volatility

Shell Pulls The Plug On European Retail Energy Arm

Shell Pulls The Plug On European Retail Energy Arm

Shell has announced its intention…

5 Solar Stocks For Long-Term Gains

5 Solar Stocks For Long-Term Gains

Amidst decreasing solar material costs…

News

U.S. Gasoline Prices Ripe For Volatility

U.S. Gasoline Prices Ripe For Volatility

Jun 12, 2023 at 13:39 | Alex Kimani

After a relentless month’s-long climb, U.S. national average gas prices have stabilized, with the current price of $3.594 for a gallon of regular…

Pakistan Pays For Discounted Russian Oil In Yuan

Pakistan Pays For Discounted Russian Oil In Yuan

Jun 12, 2023 at 10:20 | Alex Kimani

Pakistan’s petroleum minister Musadik Malik has revealed that his country paid for its first imports of discounted Russian crude in Chinese currency. According…

WTI Plunges 4% Ahead Of Fed Rate Decision

WTI Plunges 4% Ahead Of Fed Rate Decision

Jun 12, 2023 at 09:33 | Alex Kimani

Oil markets have kicked off the new week on a sour note with both Brent and WTI crude sliding over $3 per barrel after Goldman Sachs’ latest call. …

Nigeria’s LNG Sales Slump Amid Security And Investment Challenges

Nigeria’s LNG Sales Slump Amid Security And Investment Challenges

Jun 12, 2023 at 08:36 | Michael Kern

Nigeria’s revenues from LNG exports declined in the first quarter of 2023 to the lowest in five quarters, due to security challenges and declining associated natural gas production at oilfields,…

Top Asian Refiner Sells Large Volumes Of Oman Crude Oil

Top Asian Refiner Sells Large Volumes Of Oman Crude Oil

Jun 12, 2023 at 07:31 | Charles Kennedy

Unipec, the trading unit of the top Chinese and Asian refiner, Sinopec, is selling unusually large volumes of Oman crude for August loading to other trading firms, in a sign…

Goldman Sachs Slashes Year-End Oil Price Forecast To $86

Goldman Sachs Slashes Year-End Oil Price Forecast To $86

Jun 12, 2023 at 07:23 | Tsvetana Paraskova

Goldman Sachs has slashed its year-end oil price forecast to $86 per barrel Brent, down from a previous projection of $95, as it sees higher supply from sanctioned oil…

More Than Half Of China’s Power Capacity Is Now Non-Fossil Fuels  

More Than Half Of China’s Power Capacity Is Now Non-Fossil Fuels  

Jun 12, 2023 at 05:57 | Tsvetana Paraskova

China has reached its goal to have more non-fossil fuel installed electricity capacity than fossil fuels earlier than planned, with 50.9% of its power capacity coming from non-fossil fuel sources…

Iraq Adopts Record $153-Billion Budget Based On $70 Oil Price

Iraq Adopts Record $153-Billion Budget Based On $70 Oil Price

Jun 12, 2023 at 04:05 | Tsvetana Paraskova

OPEC’s second-largest producer, Iraq, approved on Monday its 2023 budget of $153 billion (198.9 trillion dinars), envisaging record spending and basing the budget on an oil price of $70…

Fighting Restarts In Sudan After 24-Hour Ceasefire Comes To An End

Fighting Restarts In Sudan After 24-Hour Ceasefire Comes To An End

Jun 12, 2023 at 01:56 | Charles Kennedy

A 24-hour ceasefire in Sudan has ended and clashes between warring political factions have resumed, dampening hopes for a quick solution to the situation in the country. The conflict erupted…

Pentagon Papers Show Saudi Arabia, U.S. Traded Threats Over Oil

Pentagon Papers Show Saudi Arabia, U.S. Traded Threats Over Oil

Jun 09, 2023 at 13:10 | Julianne Geiger

Newly leaked Pentagon papers showed that Saudi Arabia's Crown Prince Mohammed bin Salmon threatened the United States with economic calamity over oil production decisions, according to the Washington Post. Relations…

General Motors Adopts Tesla’s Charging Technology

General Motors Adopts Tesla’s Charging Technology

Jun 09, 2023 at 08:00 | ZeroHedge

General Motors announced on Thursday that it will be switching to Tesla's charging network and charging technologies, CNBC reports. The…

European Natural Gas Demand Drops As Top Economies Slow

European Natural Gas Demand Drops As Top Economies Slow

Jun 09, 2023 at 07:48 | Tsvetana Paraskova

Despite the lowest natural gas prices in two years, Europe’s natural gas demand continues to be weak and fell in May from a year earlier as industries are slowing and…

Platts Survey: OPEC+ Production Plunged By 670,000 Bpd In May

Platts Survey: OPEC+ Production Plunged By 670,000 Bpd In May

Jun 09, 2023 at 07:43 | Charles Kennedy

OPEC+ slashed its crude oil production by 670,000 barrels per day (bpd) in May, as the voluntary cuts with which the group shocked the markets in April began, the latest…

Russia's Gasoline Exports Have Surged By 37% This Year

Russia's Gasoline Exports Have Surged By 37% This Year

Jun 09, 2023 at 07:38 | Charles Kennedy

Despite the Western sanctions, Russian oil companies boosted their gasoline exports by 37% between January and May compared to the same period in 2022, Russian daily Kommersant reported on…

Dam Rupture Poses No Threat to Ukraine's Nuclear Plant, IAEA Reports

Dam Rupture Poses No Threat to Ukraine's Nuclear Plant, IAEA Reports

Jun 09, 2023 at 07:31 | RFE/RL staff

The Zaporizhzhya nuclear power plant in Ukraine is still receiving water needed to cool its reactors despite the rupture of the Kakhovka dam, the International Atomic Energy Agency…

Norway Considers Opening Huge Area To Deep Sea Mining

Norway Considers Opening Huge Area To Deep Sea Mining

Jun 09, 2023 at 04:31 | Tsvetana Paraskova

Norway’s government plans to submit to Parliament in the coming weeks plans to open a large area to deep sea mining as it seeks to access and extract critical minerals…

Exxon Narrowly Avoids Oil Production Halt In Guyana

Exxon Narrowly Avoids Oil Production Halt In Guyana

Jun 09, 2023 at 04:28 | Irina Slav

An appeals court has suspended an order issued by a lower court that could have seen supermajor Exxon lose its license to operate the Liza-1 offshore well that yields about…

UK Considers Lifting Windfall Tax For Oil And Gas Operators

UK Considers Lifting Windfall Tax For Oil And Gas Operators

Jun 09, 2023 at 01:56 | Charles Kennedy

The UK’s government may lift the controversial 35% windfall tax it imposed on the energy industry last year in response to the supply crunch that sent energy prices…

Head Of UAE Oil Giant Says Fossil Fuel Phasedown Inevitable

Head Of UAE Oil Giant Says Fossil Fuel Phasedown Inevitable

Jun 08, 2023 at 16:26 | Julianne Geiger

The head of the United Arab Emirates state-run oil giant, ADNOC—and incoming COP28 President—said that a fossil fuel phasedown is inevitable.  "The phasedown of fossil fuels is inevitable. The speed…

Oil Prices Perk Up As U.S. Says No Deal With Iran Over Oil

Oil Prices Perk Up As U.S. Says No Deal With Iran Over Oil

Jun 08, 2023 at 13:48 | Julianne Geiger

The White House has refuted claims on Thursday that the United States was close to a deal with Iran over its nuclear program that would entail lifting sanctions on Iran’s…

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