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Will Oil Markets Finally Find Balance In 2022?

Will Oil Markets Finally Find Balance In 2022?

Analysts have diverged on oil…

Oil Prices Fall Back Despite Bullish Predictions

Oil Prices Fall Back Despite Bullish Predictions

Bullish predictions from major investment…

News

Mexico’s Mega Refinery: Delayed And $3.6 Billion Over Budget

Mexico’s Mega Refinery: Delayed And $3.6 Billion Over Budget

Jan 21, 2022 at 17:14 | Charles Kennedy

The construction of Mexico’s Dos Bocas oil refinery is running $3.6 billion over budget and delays could mean that the flagship project of Mexican President Andrés Manuel López Obrador may…

Morgan Stanley Jumps On The $100 Oil Bandwagon

Morgan Stanley Jumps On The $100 Oil Bandwagon

Jan 21, 2022 at 13:46 | Tsvetana Paraskova

Morgan Stanley expects oil prices to hit $100 per barrel in the second half of the year, becoming the latest major Wall Street bank to expect triple-digit oil prices by…

EU Debates Energy Prices And Net-Zero Goals

EU Debates Energy Prices And Net-Zero Goals

Jan 21, 2022 at 13:41 | Charles Kennedy

The energy and environment ministers of the European Union (EU) member states are discussing at the end of this week the soaring energy prices in the bloc and ways to…

Renewable Energy Could Cool European Tensions With Russia

Renewable Energy Could Cool European Tensions With Russia

Jan 21, 2022 at 13:36 | Tsvetana Paraskova

Germany could consider cooperating with Russia in renewable energy to defuse the tension between Moscow and the West over Ukraine, German Minister for Economic Affairs and Climate Action, Robert…

U.S. Crude Exports Boom Amid Recovering Global Demand

U.S. Crude Exports Boom Amid Recovering Global Demand

Jan 21, 2022 at 13:31 | Tsvetana Paraskova

U.S. crude oil exports have jumped in recent weeks as America leads supply growth amid steady and resilient global demand, according to commodity analytics provider Kpler, cited by Reuters.…

U.S. Moves To Protect PDVSA-Owned Citgo For Another Year

U.S. Moves To Protect PDVSA-Owned Citgo For Another Year

Jan 21, 2022 at 08:14 | Charles Kennedy

The Treasury Department extended a moratorium on transactions on a bond issued by the U.S. arm of Venezuela’s PDVSA, Citgo, for another year in the latest move to shield the…

China Is Reselling LNG Cargoes, Driving Gas Prices Lower

China Is Reselling LNG Cargoes, Driving Gas Prices Lower

Jan 20, 2022 at 15:39 | Tsvetana Paraskova

Major Chinese liquefied natural gas (LNG) importers are now offering to resell some cargoes on the spot market this year, suggesting that China has stocked up more than enough to…

BP, Rosneft Were Only Firms With Over 1 Billion Barrel Oil Finds In 2021

BP, Rosneft Were Only Firms With Over 1 Billion Barrel Oil Finds In 2021

Jan 20, 2022 at 14:03 | Charles Kennedy

BP and Rosneft were the only companies to have delivered over 1 billion barrels of oil equivalent in discoveries last year due to their exposure in Russia which…

OPEC’s Oil Market Share In India Drops to 15-Year Low

OPEC’s Oil Market Share In India Drops to 15-Year Low

Jan 20, 2022 at 12:38 | Tsvetana Paraskova

OPEC’s share of crude imports in India dropped last year to the lowest in at least 15 years, as the world’s third-largest oil importer bought more crude from North America…

Citi Wants Its Oil & Gas Borrowers To Drastically Cut Emissions

Citi Wants Its Oil & Gas Borrowers To Drastically Cut Emissions

Jan 20, 2022 at 10:44 | Tsvetana Paraskova

Citigroup has set a rare target for the banking industry—one of “absolute emission reductions” in its energy funding portfolio in its new approach to financing fossil fuels. Citigroup, which has…

Market Shrugs Off Biden's Readiness To Tackle Oil Price Rally

Market Shrugs Off Biden's Readiness To Tackle Oil Price Rally

Jan 20, 2022 at 09:30 | Irina Slav

Crude oil prices dipped this week after the White House said there were still tools on the table to address the rising prices of the commodity but quickly regained…

Oil Slips After API Reports Third Gasoline Build In A Row

Oil Slips After API Reports Third Gasoline Build In A Row

Jan 19, 2022 at 15:43 | Julianne Geiger

Operating on a one-day delay due to the U.S. holiday, the American Petroleum Institute (API) estimated the inventory build this week for crude oil to be 1.404 million barrels after…

UAE Says Climate Talks Should Include Input From Oil & Gas Sector

UAE Says Climate Talks Should Include Input From Oil & Gas Sector

Jan 19, 2022 at 13:43 | Tsvetana Paraskova

The COP28 climate summit slated to be held in Abu Dhabi in 2023 should include input from experts and professionals from the oil and gas industry because the world cannot…

Gas Prices Dip As Europe Sees An Influx Of LNG Deliveries

Gas Prices Dip As Europe Sees An Influx Of LNG Deliveries

Jan 19, 2022 at 12:02 | City A.M

Gas prices have slumped despite seemingly favorable geopolitical trends such as increased tensions between Russia and Ukraine, delays in the Nord Stream 2 pipeline, and eastward flows on…

Iraq-Turkey Pipeline Resumes Oil Flows After Explosion

Iraq-Turkey Pipeline Resumes Oil Flows After Explosion

Jan 19, 2022 at 12:02 | Charles Kennedy

The 450,000-barrels-per-day Kirkuk-Ceyhan pipeline that carries crude from northern Iraq to Turkey’s Ceyhan port for export resumed oil flows on Wednesday after an explosion and a fire interrupted operations on…

Regulator Wants EU Ban On Energy-Sucking Crypto Mining

Regulator Wants EU Ban On Energy-Sucking Crypto Mining

Jan 19, 2022 at 10:30 | Charles Kennedy

The European Union should consider banning the more energy-intensive method of cryptocurrency mining, as using a lot of energy undermines the bloc’s climate goals, the vice-chair of the European Securities…

ERCOT: Texas Is Ready For The Winter

ERCOT: Texas Is Ready For The Winter

Jan 19, 2022 at 09:15 | Charles Kennedy

Texas is now ready for the winter, the state's Electric Reliability Council, ERCOT, reported to the Public Utilities Commission. Per a report by the Houston Chronicle, ERCOT has inspected…

China Sees 2022 As Crucial For Its EV Industry

China Sees 2022 As Crucial For Its EV Industry

Jan 18, 2022 at 15:17 | Charles Kennedy

China considers this year as the crucial year for its new-energy vehicles industry to "go global," according to the Chinese industry ministry. In a meeting chaired by Chinese Minister of…

Most U.S. States See Nuclear Power As Part Of Green Transition

Most U.S. States See Nuclear Power As Part Of Green Transition

Jan 18, 2022 at 13:53 | Charles Kennedy

The majority of U.S. states and the District of Columbia see a future for nuclear power in their respective energy policies for a transition away from fossil fuels, a survey…

Russia To Struggle With Oil Production Increase Under OPEC+ Deal

Russia To Struggle With Oil Production Increase Under OPEC+ Deal

Jan 18, 2022 at 12:49 | Tsvetana Paraskova

Russia, the leader of the non-OPEC producers in the OPEC+ pact, is unlikely to deliver all the 100,000 bpd monthly increases under the agreement this year, analysts tell Bloomberg,…

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