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Energy

Tesla Berlin Gigafactory Faces Another Setback

Jul 09, 2021 at 09:01 | Tsvetana Paraskova

After missing the July 1 opening date, Tesla’s first European Gigafactory outside Berlin faces more setbacks as the local environmental authority is investigating the EV manufacturer for tanks it had…

UBS: Oil Demand To Return To Pre-Covid Levels By Q1 2022

Jul 09, 2021 at 08:51 | Irina Slav

Crude oil demand will rebound to pre-pandemic levels by the first quarter of 2022, according to Wayne Gordon, executive director of commodities and forex at UBS Global Wealth Management. Speaking…

The Small Exploration Company That Shocked The Oil Industry

Jul 08, 2021 at 17:42 | Jason Cantle

A small Canadian oil explorer may have shocked the industry this year when it published initial results that pointed to the potential of a giant oil discovery in Namibia’s Kavango…

U.S. Shale On Track For One Of Its Best Years Ever

Jul 08, 2021 at 12:11 | Alex Kimani

After seven consecutive weeks of gains, oil prices have gone into reverse gear once again, thanks mainly to the latest OPEC+ spat that left everyone wondering what to…

OPEC's Spat Isn’t Even About Oil

Jul 08, 2021 at 12:07 | Irina Slav

The UAE took oil market watchers by surprise this month when it dug its heels in and refused to agree to an extension of the current OPEC+ production…

New Coal Plants Are Popping Up All Over Asia

Jul 08, 2021 at 12:05 | Felicity Bradstock

Just five Asian countries are now producing the vast majority of the region’s coal, with little intention of reining in production as several companies invest in new coal…

High Oil Prices Could Derail America’s Economic Recovery

Jul 08, 2021 at 12:04 | Haley Zaremba

Way back in March, a veritable eternity ago if you measure by the daily news cycle, Oilprice reported that high oil prices were coming down the pike, and…

Will $70 Oil Tempt U.S. Producers To Open The Taps?

Jul 08, 2021 at 11:50 | Tsvetana Paraskova

U.S. crude oil production is not expected to pick up a significant growth pace at least until the end of this year, the Energy Information Administration (EIA) said in its…

Oil Theft Runs Rampant In Africa’s Top Oil Producer

Jul 08, 2021 at 11:39 | Tsvetana Paraskova

OPEC member Nigeria is losing billions of U.S. dollars every year to oil theft and sabotage, which continue to plague the oil sector in Africa’s top crude producer…

The Mega-Challenge Of Creating A Global Hydrogen Market

Jul 08, 2021 at 11:34 | Vanand Meliksetian

Hydrogen has become a buzzword that has stirred the energy industry. Although some fossil fuel-dependent countries feel threatened, others see opportunities. And while skeptics first dismissed it as…

OPEC Agreement At Risk As UAE Prepares To Open The Taps

Jul 08, 2021 at 11:29 | Stuart Burns

In a relatively rare example of disagreement — or, at least, such public disagreement — usually close allies Saudi Arabia and the United Arab Emirates (UAE) have failed…

Oil Prices Rise As EIA Data Beats Expectations

Jul 08, 2021 at 10:08 | Irina Slav

Crude oil prices rose higher today after the Energy Information Administration reported an inventory draw of 6.9 million barrels for the week to July 2. This compared with a…

Oil Continues To Slide As OPEC Stays Silent

Jul 08, 2021 at 09:48 | Tsvetana Paraskova

Oil prices fell for a third day in a row early on Thursday as uncertainty coming from the OPEC+ deadlock and fears of COVID variants spreading fast weighed on the…

Poor Hedging Could Cost U.S. Shale $20 Billion

Jul 08, 2021 at 08:46 | Irina Slav

U.S. shale oil producers have suffered billions in losses from hedging their output at lower than current prices, the Financial Times reported today, citing data from IHS Markit. According…

Oil Prices Still Have Room To Run

Jul 07, 2021 at 12:05 | David Messler

At mid-year 2021 we find that we are in an unsettled state with respect to crude supplies. Of the three largest contributors to global supply, the U.S.A., Russia,…

The Oil Stocks Wall Street Recommends

Jul 07, 2021 at 11:54 | Tsvetana Paraskova

As oil prices have rallied more than 40 percent this year, analysts and institutional investors have grown increasingly bullish on oil stocks, which, many believe, are still undervalued…

The Plastics Sector Is Suffering As Oil Prices Rise

Jul 07, 2021 at 11:49 | Alex Kimani

Four years ago, the UN declared plastic pollution a global crisis, decades after the discovery of the Great Pacific Garbage…

Will This Push Foreign Oil Companies Out Of Mexico?

Jul 07, 2021 at 11:41 | Irina Slav

The Mexican government launched a quest against foreign oil companies operating in the country pretty much from day one in office. First, it suspended new oil and gas…

Can The U.S. Keep Clean Energy Jobs Within Its Borders?

Jul 07, 2021 at 11:19 | Haley Zaremba

In an incredible show of bipartisan support on a spending bill, a phenomenon all but unheard of in the United States these days, the Senate voted in a…

Oil Price Plunge Continues Amid OPEC+ Deadlock

Jul 07, 2021 at 11:15 | Tsvetana Paraskova

Oil prices continued falling early on Wednesday, following the sharp losses incurred the previous day after the market started to assess what the OPEC+ deadlock would mean for immediate oil…

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