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News

Climate Activists Slam Biden For Breaking Gas Financing Promise

Climate Activists Slam Biden For Breaking Gas Financing Promise

Jun 07, 2023 at 01:58 | Charles Kennedy

A decision by the Biden administration to provide financial help to Poland for securing LNG supplies has prompted a loud reaction from climate activists. Per a Bloomberg report, Washington-owned…

Large Builds In Product Inventories Force WTI Crude Prices Lower

Large Builds In Product Inventories Force WTI Crude Prices Lower

Jun 06, 2023 at 16:10 | Julianne Geiger

Crude oil inventories in the United fell this week by 1.710 million barrels, the American Petroleum Institute (API) data showed on Tuesday, with analysts expecting a 1.5 million…

675 Million People Without Power: IEA

675 Million People Without Power: IEA

Jun 06, 2023 at 14:59 | Julianne Geiger

A total of 675 million people around the world were without power in 2021, according to a new report released on Tuesday. A new report published by the International Energy…

Gas Stove Regulations Aren’t Done Deal Just Yet

Gas Stove Regulations Aren’t Done Deal Just Yet

Jun 06, 2023 at 14:40 | Julianne Geiger

Republican lawmakers are not letting the gas stove go quietly into that good night, instead planning two votes this afternoon that would keep Democrats from regulating the appliance that found…

US Intelligence Community Warned Of Ukrainian Plot Of NordStream Sabatoge: WaPo

US Intelligence Community Warned Of Ukrainian Plot Of NordStream Sabatoge: WaPo

Jun 06, 2023 at 11:59 | Julianne Geiger

The CIA was warned in June that Ukrainian special forces had planned an attack on Russia’s Nord Stream natural gas pipelines, according to an exclusive from the Washington Post. The…

Shell Halts Unit At Europe’s Biggest Refinery Due To Leak

Shell Halts Unit At Europe’s Biggest Refinery Due To Leak

Jun 06, 2023 at 10:31 | Tom Kool

Shell said on Tuesday that it had halted a unit at Europe’s largest oil refinery, Pernis in Rotterdam, due to a leak. “Due to a leak on one of our…

Ukraine And Russia Trade Accusations Over Huge Hydropower Dam Blow-Up

Ukraine And Russia Trade Accusations Over Huge Hydropower Dam Blow-Up

Jun 06, 2023 at 10:14 | Tsvetana Paraskova

Ukraine and Russia on Tuesday blamed each other for blowing up a hydroelectric dam in Ukraine’s Kherson region, currently under Russian occupation, which prompted evacuation after flooding followed the collapse…

NEOM Secures $5 Billion Investment From Local Investors

NEOM Secures $5 Billion Investment From Local Investors

Jun 06, 2023 at 09:32 | Tom Kool

Saudi Arabia’s megaproject NEOM has attracted an investment of $5.6 billion from local investors. According to Bloomberg, four local firms will build temporary housing and construction facilities…

Chinese Steel Prices Fall To Three-Year Low

Chinese Steel Prices Fall To Three-Year Low

Jun 06, 2023 at 08:29 | Ag Metal Miner

Via AG Metal Miner For the past year or two, steel analysts and experts have talked about how China’s market is now more open. Simultaneously, they discussed how…

Kazakhstan Seeks $16.5 Billion From Big Oil Over Project Costs

Kazakhstan Seeks $16.5 Billion From Big Oil Over Project Costs

Jun 06, 2023 at 07:50 | Tsvetana Paraskova

Kazakhstan will continue to seek a court ruling on its claim that it is owed as much as $16.5 billion by international oil majors for project costs in two of…

Citi: Oil Prices Unlikely To Hit The High $80s After Saudi Output Cut

Citi: Oil Prices Unlikely To Hit The High $80s After Saudi Output Cut

Jun 06, 2023 at 07:42 | Tsvetana Paraskova

While many analysts see the latest Saudi oil cut surprise as bullish or at least moderately bullish for prices, Citigroup thinks that the 1 million bpd cut from the world’s…

International Airlines Slam EU For Sustainable Fuel Mandates

International Airlines Slam EU For Sustainable Fuel Mandates

Jun 06, 2023 at 03:13 | Irina Slav

The European Union’s behavior is “anti-aviation” because of mandates obliging airlines to use so-called sustainable aviation fuels as a lower-carbon alternative to ht fuel. This is the message that the…

Cenovus Restarts Oil Production Shut Down By Wildfires

Cenovus Restarts Oil Production Shut Down By Wildfires

Jun 06, 2023 at 01:56 | Charles Kennedy

Cenovus Energy has restarted some 62,000 bpd of daily crude oil production following a temporary shutdown caused by the wildfires in Alberta. The company shut down a total of 85,000…

Russia Sees Oil & Gas Tax Revenue Shed 36% In May

Russia Sees Oil & Gas Tax Revenue Shed 36% In May

Jun 05, 2023 at 14:21 | Charles Kennedy

Lower crude oil prices, Western sanctions and European push for energy independence combined to shave 36% off Russia’s oil and gas tax collection for last month, compared to…

Despite Soaring Inflation, EU Says Won’t Extend Emergency Energy Measures

Despite Soaring Inflation, EU Says Won’t Extend Emergency Energy Measures

Jun 05, 2023 at 14:15 | Charles Kennedy

Emergency energy price measures implemented by the European Union in 2022 will not be extended further, the European Commission said on Monday, bringing to an end hundreds of…

Saudi Arabia Raises Arab Light Prices For Asia

Saudi Arabia Raises Arab Light Prices For Asia

Jun 05, 2023 at 11:07 | Charles Kennedy

Saudi Arabia has raised the official selling price (OSP) for Arab light for Asia by $0.45/bbl m/m to $3.00/bbl for July, following the…

Dad’s Mad: Saudis Frustrated With Lack Of OPEC Compliance

Dad’s Mad: Saudis Frustrated With Lack Of OPEC Compliance

Jun 05, 2023 at 09:34 | Julianne Geiger

Saudi Arabia agreed to take one for the team this weekend and volunteered to cut another 1 million barrels per day off its crude oil production to keep the market…

New Car Sales In UK Drive Forward For The Tenth Month

New Car Sales In UK Drive Forward For The Tenth Month

Jun 05, 2023 at 09:13 | City A.M

Sales of new cars in the UK increased again last month, new figures out today revealed, marking the tenth successive month of sales growth. New car…

UK Firms Opt For 'Onshoring' To Mitigate Supply Chain Risks

UK Firms Opt For 'Onshoring' To Mitigate Supply Chain Risks

Jun 05, 2023 at 09:02 | City A.M

Snags in international supply chains lingering on from the Covid-19 pandemic are steering mid-sized businesses toward bringing their production lines back to the UK, a new survey out…

Major Climate Alliance Proposes Guidelines For The Phase-Out Of Coal In Asia

Major Climate Alliance Proposes Guidelines For The Phase-Out Of Coal In Asia

Jun 05, 2023 at 08:23 | Tsvetana Paraskova

The Glasgow Financial Alliance for Net Zero’s (GFANZ), the world’s largest financial sector grouping to support net zero, proposed on Monday the development of voluntary guidance and practical steps…

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