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Energy

Big Oil Sees 30% Drop in Profits from Record 2022 Levels

Mar 07, 2024 at 13:23 | Irina Slav

Supermajors had a record-shattering financial year in 2022. To the invariable chagrin of their governments, all of the big international oil companies made the most money in their history thanks…

Texas Wildfires Underscore Increasing Risk for Utilities

Mar 07, 2024 at 10:54 | Leonard Hyman & William Tilles

Warren Buffett fretted, in his annual report, that wildfires threatened his electric utility investments. He specifically cited the stock price carnage experienced by two US utilities, Pacific Gas & Electric…

Kuwait Sees Solid Oil Demand In A Fairly Balanced Market

Mar 07, 2024 at 09:29 | Charles Kennedy

Global oil demand looks robust in a balanced market this year, Shaikh Nawaf Al-Sabah, chief executive of Kuwait’s state oil firm Kuwait Petroleum Corporation (KPC), told Bloomberg in an 

Natural Gas Producers Are Slashing Spending As Prices Stumble

Mar 07, 2024 at 09:10 | David Messler

“It was the best of times, it was the worst of times.” That line taken from the 1859, Dickensian novel, A Tale of Two Cities

New Gas Discoveries Offer Glimmer of Hope for Colombia's Energy Sector

Mar 07, 2024 at 09:03 | Felicity Bradstock

Despite significant potential, Colombia’s oil and gas industry has had a variety of highs and lows due to political disruption, varying international interest and other determining factors. With a more…

Korea and Kazakhstan Partner to Probe Potential Lithium Goldmine

Mar 07, 2024 at 08:59 | Eurasianet

Kazakhstan is positioning itself as an important potential global supplier of high-quality lithium just as demand surges for the mineral, which is indispensable for the booming power-storage technology…

SpaceX-Backed Flying Car Startup Gets FAA Nod

Mar 07, 2024 at 08:56 | Felicity Bradstock

Pre-orders for a “flying car” have soared in recent months leading industry experts to question how close we are to small passenger vehicle flight. Alef Aeronautics, a company…

Central Banks Boost Gold Reserves to Diversify from the Dollar

Mar 07, 2024 at 08:53 | ZeroHedge

Authored by Simon White, Bloomberg macro strategist, Powell might not be overly worried about inflation - with his recent comments reiterating the Federal Reserve is on track to…

Turkmenistan Eyes Gas Export Breakthrough with Turkey

Mar 07, 2024 at 08:45 | Eurasianet

With Turkmenistan and its gas export dreams, intentions are strong, but implementation is faltering. On March 1, Turkmen National Leader Gurbanguly Berdymukhamedov, the father of the…

Standard Chartered: OPEC’s Latest Move Is Bullish

Mar 07, 2024 at 08:14 | Alex Kimani

Oil markets have managed to reverse their early week losses, inching up higher in Wednesday’s session after the Energy Information Administration reported significant inventory draws across various fuels. The…

How To Profit From Europe’s $800 Billion Energy Crisis

Mar 06, 2024 at 12:23 | Charles Kennedy

Europe is weathering its second winter since it cut itself off from Russian natural gas, but beyond that, without its own sufficient supplies, the continent remains vulnerable to the whims…

Goldman Sachs: Price Rout in Key Battery Metals Isn’t Over

Mar 06, 2024 at 12:00 | Tsvetana Paraskova

Sizeable surpluses in the lithium, cobalt, and nickel markets have led to a plunge in the prices of key battery metals over the past year and a half. The price…

Oil Inches Higher on Fuel Inventory Draws

Mar 06, 2024 at 09:37 | Irina Slav

Crude oil prices moved higher today, after the Energy Information Administration reported estimated inventory draws across fuels. In crude, the EIA reported a build of 1.4 million barrels for…

The Big Question in OPEC’s Production Cut Strategy

Mar 06, 2024 at 09:03 | Irina Slav

Last weekend, OPEC and its partners, led by Russia, decided to extend their combined production cut agreement until the end of the first quarter. Nobody was surprised…

BP Tries To Reverse Big Oil’s Fortunes in Brazil

Mar 06, 2024 at 08:25 | Irina Slav

Back in 2019, Brazil produced over 1 billion barrels of crude oil. It was the first time the national total had broken the billion-barrel mark, and more than half…

Cutting-Edge AI Identifies New Catalysts for Hydrogen Electrolysis

Mar 06, 2024 at 08:05 | Brian Westenhaus

A National Institute for Materials Science, Japan research team has developed an AI technique capable of expediting the identification of materials with desirable characteristics. Using…

India Makes Bold Move to Reduce Dollar Dependency in Oil Trade

Mar 06, 2024 at 08:01 | ZeroHedge

Four months after India's government rejected demands from Russian oil companies to pay for Russia's crude exports in Chinese yuan, it appears India…

Two Countries That Could Break Putin's Gas Grip On Europe

Mar 05, 2024 at 15:25 | Tom Kool

At this moment, a fast-moving development is unfolding in Europe’s energy industry that is gaining more attention by the day.  Europe’s energy crisis, triggered by Russia’s early 2022 invasion of…

Why China's Strong Commodity Imports Defy Weak Economic Data

Mar 05, 2024 at 15:13 | Tsvetana Paraskova

Despite continued weak economic performance, China's imports of major commodities in the first two months of 2024 held strong and exceeded last year's levels. Imports of crude oil, LNG, coal,…

Is Saudi Arabia’s Gas Megaproject Jafurah Too Good to be True?

Mar 05, 2024 at 12:29 | Simon Watkins

According to Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman last week, an extra 15 trillion cubic feet (tcf) of gas deposits has been proven at Saudi Aramco’s Jafurah gas…

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