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Smoke Causes U.S. Solar Power Generation To Plunge By 50%

Smoke Causes U.S. Solar Power Generation To Plunge By 50%

Smoke from Canada’s wildfires is…

Oil Moves Up Despite Rising Product Inventories

Oil Moves Up Despite Rising Product Inventories

Crude oil prices inched higher…

India’s Fuel Demand Jumps To Record High

India’s Fuel Demand Jumps To Record High

India’s fuel sales surged to…

News

Exxon And Chevron Shareholders Dismiss Climate Resolutions

Exxon And Chevron Shareholders Dismiss Climate Resolutions

Jun 01, 2023 at 03:08 | Tsvetana Paraskova

Overwhelming majorities of shareholders of ExxonMobil and Chevron rebuffed all climate-related proposals and resolutions at the annual general meetings of the two U.S. supermajors on Wednesday. The shareholder support for…

Colombia Accuses U.S. Coal Miner Of Funding Paramilitary Group

Colombia Accuses U.S. Coal Miner Of Funding Paramilitary Group

Jun 01, 2023 at 01:55 | Charles Kennedy

The current head of Drummond in Colombia and his predecessor will be tried on charges of financing a paramilitary group, Reuters has reported, citing the office of Colombia’s attorney…

Oil Markets Shocked By Across the Board Inventory Builds

Oil Markets Shocked By Across the Board Inventory Builds

May 31, 2023 at 15:49 | Julianne Geiger

Crude oil inventories in the United rose this week by 5.202 million barrels, the American Petroleum Institute (API) data showed on Wednesday, with analysts expecting a 1.22 million barrel dip.…

American Offshore Wind Gets Gulf Of Mexico Green Light

American Offshore Wind Gets Gulf Of Mexico Green Light

May 31, 2023 at 12:41 | Alex Kimani

The U.S. Bureau of Ocean Energy Management (BOEM) has given the Gulf of Mexico the environmental green light for offshore wind energy development on the outer continental shelf’s…

Reuters Survey: OPEC Output Down 460,00 BPD This Month

Reuters Survey: OPEC Output Down 460,00 BPD This Month

May 31, 2023 at 11:44 | Charles Kennedy

A Reuters survey on Wednesday shows a drop in OPEC oil output for May following voluntary production cuts by OPEC+ said to help support the market.

Consortium To Invest $9 Billion In Indonesia's Mining And Battery Industries

Consortium To Invest $9 Billion In Indonesia's Mining And Battery Industries

May 31, 2023 at 09:47 | Charles Kennedy

A consortium of companies, including mining giant Glencore, is poised to invest $9 billion in the mining and battery-manufacturing sectors in Indonesia, Investment Minister Bahlil Lahadalia said on Wednesday. "The…

Gas Leak Forces Equinor To Shut Major LNG Export Terminal

Gas Leak Forces Equinor To Shut Major LNG Export Terminal

May 31, 2023 at 08:02 | Charles Kennedy

In another blow to the only LNG export facility in Europe’s top gas producer, Norway, energy major Equinor on Wednesday shut down the Hammerfest LNG plant due to a gas…

TotalEnergies Plans Synthetic Natural Gas Plant In The U.S.

TotalEnergies Plans Synthetic Natural Gas Plant In The U.S.

May 31, 2023 at 07:55 | Tsvetana Paraskova

France-based supermajor TotalEnergies plans to build a large-scale plant to produce synthetic natural gas in the United States—a project which will benefit from tax credits in the Inflation Reduction…

European Natural Gas Prices Fall On Weak Global Demand

European Natural Gas Prices Fall On Weak Global Demand

May 31, 2023 at 07:12 | Tsvetana Paraskova

Benchmark natural gas prices in Europe fell early on Wednesday as global demand for LNG is subdued, European inventories are higher than usual, and renewable energy output has increased…

Indonesia To Curb LNG Exports

Indonesia To Curb LNG Exports

May 31, 2023 at 02:57 | Irina Slav

Indonesia is set to place caps on exports of liquefied natural gas, adding the commodity to a list of critical raw materials subject to export controls. The purpose of the…

Buffett Boosts Occidental Petroleum Stake To 24.9%

Buffett Boosts Occidental Petroleum Stake To 24.9%

May 31, 2023 at 02:03 | Charles Kennedy

Warren Buffett’s Berkshire Hathaway has bought more shares in Occidental Petroleum, boosting its stake in the company to some 24.9%, MarketWatch has reported, citing a regulatory filing. According to…

Saudi Arabia Could Cut Oil Prices For Asia Once Again

Saudi Arabia Could Cut Oil Prices For Asia Once Again

May 31, 2023 at 01:07 | Irina Slav

Saudi Arabia may reduce the official selling price of its flagship Arab Light grade for Asian buyers further, according to analysts polled by Reuters. The price cut, for July…

Saudi Arabia Will Have Hydrogen Buses Running In 2024

Saudi Arabia Will Have Hydrogen Buses Running In 2024

May 30, 2023 at 14:52 | Julianne Geiger

Saudi Arabia will begin producing hydrogen fuel next year for buses and trucks, the CEO of Neom Green Hydrogen Company said on Tuesday. Hydrogen production for buses and trucks will…

The World's First

The World's First "Battery Tanker" May Become Operational This Decade

May 30, 2023 at 13:34 | ZeroHedge

Tesla CEO Elon Musk made a bold prediction in 2017: "Everything will go fully electric, apart from (ironically) rockets. Ships are the next easiest to solve after cars." Six years later,…

Lithium Market To Remain Tight Through 2024: Chile

Lithium Market To Remain Tight Through 2024: Chile

May 30, 2023 at 12:29 | Julianne Geiger

The world's second-largest supplier of lithium, Chile, said it sees the battery metal remaining in tight supply this year and next, before switching to surplus in 2025. Chile's government agency…

UAE Sought More U.S. Presence In The Gulf After Iran Seized Oil Tankers

UAE Sought More U.S. Presence In The Gulf After Iran Seized Oil Tankers

May 30, 2023 at 09:17 | Michael Kern

The United Arab Emirates (UAE) reportedly expressed concerns about the security situation in the Persian Gulf and asked the United States for a stronger military presence in the area to…

Namibia Considers Taking Stakes In Local Mining And Oil Companies

Namibia Considers Taking Stakes In Local Mining And Oil Companies

May 30, 2023 at 08:54 | Tsvetana Paraskova

Namibia, where major offshore oil discoveries have been made in recent months, is weighing the possibility of taking minority stakes in miners and oil producers in the African country to…

Tax Credit Uncertainty Could Derail $1-Billion Pink Hydrogen Project

Tax Credit Uncertainty Could Derail $1-Billion Pink Hydrogen Project

May 30, 2023 at 07:54 | Tsvetana Paraskova

The largest U.S. nuclear power operator, Constellation Energy, may see a $1-billion major project to produce hydrogen using nuclear energy deferred or abandoned due to still unclear guidance over the…

Gasoline Demand Over Memorial Day Weekend Lower Than In 2022

Gasoline Demand Over Memorial Day Weekend Lower Than In 2022

May 30, 2023 at 07:50 | Tsvetana Paraskova

U.S. gasoline demand over the Memorial Day weekend is estimated to be 1.1% lower than demand for the same weekend last year, despite the surging gas prices at the start…

Skills Gap Could Delay Europe’s Energy Transition

Skills Gap Could Delay Europe’s Energy Transition

May 30, 2023 at 04:08 | Tsvetana Paraskova

Europe’s ambitious green energy plans could be held back by a shortage of skilled workers in the renewables industry, which, generally, still pays lower wages than the oil and gas…

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