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News

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…

Whitewashed Urals Crude To Soften Russian Economy Contraction

Whitewashed Urals Crude To Soften Russian Economy Contraction

Jun 08, 2023 at 11:41 | Alex Kimani

The World Bank has reported that Russia’s economy will contract a mere 0.2% in the current year, way less than last year’s 2.1%…

Exxon CEO Warns Overemphasis On Renewables Could Backfire

Exxon CEO Warns Overemphasis On Renewables Could Backfire

Jun 08, 2023 at 10:37 | Alex Kimani

Exxon Mobil Corp. (NYSE:XOM) CEO Darren Woods has urged regulators to stop focusing on certain energy sources, such as renewable energy, to save…

OPEC’s Smallest Producer Sees Crude Oil Exports Drop To Zero

OPEC’s Smallest Producer Sees Crude Oil Exports Drop To Zero

Jun 08, 2023 at 09:14 | Charles Kennedy

Equatorial Guinea, a small West African country and OPEC’s smallest oil producer, did not export any crude oil in May due to output declines and no new projects to replace…

Global Oil Demand For Road Transport Could Peak In 2027

Global Oil Demand For Road Transport Could Peak In 2027

Jun 08, 2023 at 09:04 | Michael Kern

Electric vehicle sales are soaring, displacing larger volumes of transportation-derived fuel demand, which could peak as early as 2027, research firm BloombergNEF said in its annual Electric Vehicle Outlook

China Set To Become The World’s Largest Green Hydrogen Importer By 2030

China Set To Become The World’s Largest Green Hydrogen Importer By 2030

Jun 08, 2023 at 08:47 | Tsvetana Paraskova

China could become the world's largest importer of green hydrogen by the end of this decade as it will need 13 million of imported hydrogen annually to decarbonize various industrial…

Russia Says It Will Study Iran’s Plan To Create A Natural Gas Hub

Russia Says It Will Study Iran’s Plan To Create A Natural Gas Hub

Jun 08, 2023 at 07:07 | Tsvetana Paraskova

Russia’s agencies will study Iran’s plans to create a natural gas hub on the Persian Gulf in cooperation with Russia, Qatar, and Turkmenistan, Russian Deputy Foreign Minister Sergey Ryabkov said…

U.S. Solar Installations Jump 47% In Q1

U.S. Solar Installations Jump 47% In Q1

Jun 08, 2023 at 05:59 | Charles Kennedy

U.S. solar system installations rose by 47% in the first quarter of the year despite import problems because of the tariffs imposed on Asian exporters. That’s according to a

A Copper Buying Spree Is Set To Commence

A Copper Buying Spree Is Set To Commence

Jun 08, 2023 at 02:04 | Irina Slav

After the slump in global copper prices, a buying spree is brewing, a Citi commodity analyst has forecast. Copper prices slid to the lowest in six months…

Argentina’s Oil And Gas Giant To Focus On Vaca Muerta Exports

Argentina’s Oil And Gas Giant To Focus On Vaca Muerta Exports

Jun 08, 2023 at 00:56 | Charles Kennedy

Argentina’s state oil and gas operator YPF will focus its efforts on bringing crude oil and natural gas exports from the Vaca Muerta shale formation to as high a level…

Goldman Sachs Looks To Open New Tokyo Desk To Trade Profitable Power Futures

Goldman Sachs Looks To Open New Tokyo Desk To Trade Profitable Power Futures

Jun 07, 2023 at 16:48 | Charles Kennedy

Post-energy crisis hedging enthusiasm is prompting Goldman Sachs Group to launch plans for a Tokyo desk to trade Japanese power derivatives as trading volumes for Japanese power futures…

Russian Crude Prices Via Druzhba Pipeline To Jump 16% After Dam Collapse

Russian Crude Prices Via Druzhba Pipeline To Jump 16% After Dam Collapse

Jun 07, 2023 at 11:57 | Charles Kennedy

June prices for Russian flagship Urals crude via the Druzhba pipeline through Ukraine are set to jump by 16% over May’s prices due to European refiners’ concerns of…

Saudi Growth Outlook Expected To Slow 2.1% On Oil Output Cuts

Saudi Growth Outlook Expected To Slow 2.1% On Oil Output Cuts

Jun 07, 2023 at 10:01 | Charles Kennedy

Saudi Arabia’s growth is expected to slow to 2.1% this year due to production cuts, according to the International Monetary Fund (IMF), though the Kingdom’s current account surprise is at…

Indian Refiner Drops Expansion Plan To Focus On Petrochemicals

Indian Refiner Drops Expansion Plan To Focus On Petrochemicals

Jun 07, 2023 at 08:52 | Charles Kennedy

Mangalore Refinery and Petrochemicals Limited (MRPL), a major Indian refiner, is shifting its focus on petrochemicals and has shelved plans to expand its refinery capacity to “de-risk” its future in…

China’s Monthly Crude Oil Imports Surge To Third-Highest On Record

China’s Monthly Crude Oil Imports Surge To Third-Highest On Record

Jun 07, 2023 at 08:44 | Michael Kern

As Chinese refiners returned from maintenance and built stockpiles, China’s crude oil imports jumped in May to the third-highest level on record, according to official data. China’s crude oil imports…

Bitcoin Sinks As Crypto Companies Grapple With SEC Lawsuits

Bitcoin Sinks As Crypto Companies Grapple With SEC Lawsuits

Jun 07, 2023 at 08:40 | City A.M

US regulators are suing Coinbase, one of the world’s leading crypto brokers and exchanges, just a day after announcing action against fellow crypto giant Binance. The…

U.S. Sanctions Iranian And Chinese Companies Over Ballistic Missiles

U.S. Sanctions Iranian And Chinese Companies Over Ballistic Missiles

Jun 07, 2023 at 08:27 | RFE/RL staff

The United States has sanctioned seven individuals and six entities from Iran, China, and Hong Kong who the U.S. Treasury Department says have helped Tehran get key technology…

Iran Plans To Create A Regional Natural Gas Hub

Iran Plans To Create A Regional Natural Gas Hub

Jun 07, 2023 at 07:35 | Tsvetana Paraskova

Iran is looking to set up a natural gas hub in the Persian Gulf and is cooperating with Russia, Qatar, and Turkmenistan to that end, Iranian Oil Minister Javad Owji…

Oil Prices Rise As China’s Crude Imports Jump

Oil Prices Rise As China’s Crude Imports Jump

Jun 07, 2023 at 07:27 | Tsvetana Paraskova

Oil prices rose early on Wednesday as Chinese data showed crude imports into the world’s top oil importer jumped in May, recovering from a weak April. As of 8:13 a.m.…

UK Bans Big Oil Ads For Misleading Messages On Green Energy

UK Bans Big Oil Ads For Misleading Messages On Green Energy

Jun 07, 2023 at 03:31 | Tsvetana Paraskova

The UK’s Advertising Standards Authority on Wednesday banned TV, online, and newspaper ads of Shell, Repsol, and Petronas in which the oil giants have overstated their efforts in advancing green…

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