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Energy

Raw Material Supply Crunch Hits U.S. Shale Oil

Jun 07, 2021 at 10:06 | Irina Slav

As the prices of steel, cement and other raw materials climb higher and higher amid tightening supply, drillers in the U.S. shale patch are facing higher production costs, Bloomberg

World's Largest Oil Trader: OPEC+ Rules Oil Markets

Jun 07, 2021 at 07:58 | Charles Kennedy

OPEC+ is gaining the upper hand as a trendsetter on global oil markets, Vitol’s head of operations for Asia, Mike Muller, said as quoted by Bloomberg this weekend. “There’s…

WTI Price Breaks $70 For First Time Since 2018

Jun 07, 2021 at 07:52 | Irina Slav

West Texas Intermediate hit the highest since 2018 at the end of last week amid an increasingly favorable demand outlook. The U.S. benchmark topped $70 a barrel on Friday…

Forget Activism: Chronic Underperformance Is Big Oil’s Biggest Problem

Jun 04, 2021 at 17:19 | Alex Kimani

Just last week, some of the world's largest integrated energy companies faced the wrath of furious investors and climate activism. Exxon Mobil (NYSE:XOM)

Could Gamma-Ray Bursts Give Us Unlimited Energy?

Jun 04, 2021 at 17:12 | Irina Slav

Gamma-ray bursts are the most powerful, brightest explosions in the universe. They last only seconds but release immense amounts of energy—as much, in fact, as the sun will…

Saudi Arabia Says It is No Longer An Oil Producing Country

Jun 04, 2021 at 17:11 | Julianne Geiger

When Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman announced that Saudi Arabia was no longer an oil-producing country, he likely didn’t mean literally.  “Saudi Arabia…

Who Will Control Canada’s Most Important Pipeline?

Jun 04, 2021 at 17:09 | Tsvetana Paraskova

An under-the-radar hearing on the way shippers will contract volumes on Canada's key crude oil export pipeline began last month in what could turn out to be the…

Crude Prices Rise Despite Falling Asian Oil Imports

Jun 04, 2021 at 17:04 | Tsvetana Paraskova

The world’s most important oil-importing region, Asia, is showing signs of weaker physical demand with lower cargo arrivals in May and crashing refining margins as a COVID resurgence…

Putin Says That First Line Of Nord Stream 2 Is Now Complete

Jun 04, 2021 at 17:01 | RFE/RL staff

Russian President Vladimir Putin has announced that laying the pipes for the first of two lines of the prospective Nord Stream 2 pipeline to Germany has now been…

A War On Coal Is Playing Out In Central Europe

Jun 04, 2021 at 16:53 | Gerald Jansen

The reputation of coal has sustained great damage from an increasing amount of analytical reports describing it as the lowest-hanging fruit to halt global warming. Especially amongst OECD…

Tesla Is Facing Strong Competition With Ford And GM Ramping Up EV Sales

Jun 04, 2021 at 16:50 | ZeroHedge

Someone should put Elon Musk on notice: the legacy automakers have officially entered the EV sales fray. And domestic U.S. automakers have officially hit the ground…

WTI Nears $70 As Bulls Run Rampant

Jun 04, 2021 at 12:32 | Tom Kool

Oil bulls are out in force as OPEC+ succeeds in draining global inventories while successful vaccine programs give hope that the end of the global pandemic may be in sight. 

U.S. Rig Count Falls As Drillers Show Discipline

Jun 04, 2021 at 12:15 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States fell this week, bringing the total rig count to 456—still a more than…

Africa’s Oil Nations Push Against Global Drive To Shun Oil And Gas

Jun 04, 2021 at 11:02 | Tsvetana Paraskova

Africa’s largest oil producers do not plan to abandon oil and gas exploration and production and could consider creating a continent-wide bank to fund new projects when international banks refuse…

Traders Rush To Ship Masked Venezuelan Crude To China

Jun 04, 2021 at 10:19 | Charles Kennedy

Commodity traders are in a rush to ship as much Venezuelan heavy crude to China as possible before a new fuel tax kicks in, causing a 40-50-percent rise in prices,…

Oil Prices Poised For A Breakout As WTI Nears $70

Jun 04, 2021 at 09:01 | Tsvetana Paraskova

Oil prices were rising early on Friday and headed to a second consecutive week of gains after the U.S. signaled that there may not be an imminent announcement of an…

Climate Activism Is Great News For Saudi Arabia And Russia

Jun 03, 2021 at 17:39 | Alex Kimani

Big Oil has lately come under a plethora of attacks from all directions, ranging from uncooperative financiers and investors amidst a global shift…

Can We Actually Harness Energy From A Black Hole?

Jun 03, 2021 at 17:21 | Haley Zaremba

Could black holes be the key to the future of our energy production? Some scientists think so. And the secret to harvesting their energy lies in gamma-ray bursts,…

U.S. Cities And States Clash Over Natural Gas

Jun 03, 2021 at 16:33 | Irina Slav

It all began in California. In 2019, the city of Berkeley enacted the first city-wide ban on new natural gas hookups in residential…

Colombian Oil Production Slips Amid Deadly Protests

Jun 03, 2021 at 15:41 | Matthew Smith

Protests which erupted across Colombia in late April 2021 in response to proposed government tax hikes are now in their fifth week. There are indications that anti-government rallies…

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