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News

New Regulations In Permian Could Deter Drilling

New Regulations In Permian Could Deter Drilling

Jun 24, 2022 at 16:47 | Julian Lowe

The EPA is considering a new label for parts of the Permian Basin that could deter or slow oil and gas drilling in certain parts of the prolific Permian Basin.…

Nigeria Says It Will Be Meeting OPEC+ Quota By August

Nigeria Says It Will Be Meeting OPEC+ Quota By August

Jun 24, 2022 at 16:39 | Julianne Geiger

Nigeria's oil minister said on Friday that the country would be able to meet its OPEC production quota by the end of August as the country aims to boost security…

45% Of UK Drivers Cut Vehicle Journeys As Gasoline Prices Surge

45% Of UK Drivers Cut Vehicle Journeys As Gasoline Prices Surge

Jun 24, 2022 at 16:29 | Tsvetana Paraskova

A total of 45 percent of UK adults have cut back on non-essential journeys in a vehicle amid soaring fuel prices, the Office for National Statistics (ONS) said in its…

Exxon Calls For Higher Carbon Pricing

Exxon Calls For Higher Carbon Pricing

Jun 24, 2022 at 16:23 | Tsvetana Paraskova

ExxonMobil would like to see the tax credit for carbon capture and storage increased to $100 per ton from the current $50 per ton, as a means to incentivize carbon…

Germany Considers Expropriating Nord Stream 2 For LNG Flows

Germany Considers Expropriating Nord Stream 2 For LNG Flows

Jun 24, 2022 at 11:08 | Tsvetana Paraskova

Germany is considering expropriating the German section of the Russia-led Nord Stream 2 gas pipeline project, cutting it off from the rest of the pipeline, and using the part…

India's Russian Oil Imports Soar 50-Fold

India's Russian Oil Imports Soar 50-Fold

Jun 24, 2022 at 10:48 | Irina Slav

India's intake of Russian crude oil has soared 50-fold since April and, to date, makes up a tenth of the subcontinent's imported oil, the Economic Times reported today, citing…

Centrica Turns To Former Soldiers In Push Towards Net-Zero Ambitions

Centrica Turns To Former Soldiers In Push Towards Net-Zero Ambitions

Jun 24, 2022 at 09:58 | City A.M

Centrica is planning to hire about 500 former soldiers, sailors, and air force personnel by the end of next year as it looks to transition to Net Zero. …

Granholm Meeting With Oil Refiners Ends With No Commitments

Granholm Meeting With Oil Refiners Ends With No Commitments

Jun 24, 2022 at 08:55 | Irina Slav

An emergency meeting between Energy Secretary Jennifer Granholm and representatives of the oil industry ended with no firm commitments from either side, although the Energy Secretary signaled that the plan…

Germany Risks Industrial Crash With Gas Shortage

Germany Risks Industrial Crash With Gas Shortage

Jun 24, 2022 at 08:42 | Irina Slav

Germany is facing an industrial crisis with many companies likely to end on the chopping block if Russian gas deliveries remain as low as they are now, Economy Minister Robert…

August OPEC+ Plans Will Likely Be Rubberstamped

August OPEC+ Plans Will Likely Be Rubberstamped

Jun 24, 2022 at 04:20 | Julianne Geiger

OPEC+ is largely expected to rubber-stamp next week its decision to boost production in August by 648,000 bpd, five Reuters sources said on Thursday. Of course, that’s what sources said…

New EV Battery Boasts 1,000km Range

New EV Battery Boasts 1,000km Range

Jun 24, 2022 at 04:11 | Julianne Geiger

A new battery from Contemporary Amperex Technology Co Ltd promises to resolve one of the chief complaints that drivers have with electric vehicles: battery range. The next-generation Qilin battery—named after…

Gunvor Can Deliver 13 Million Gallons Of Gasoline To U.S., But There's Catch

Gunvor Can Deliver 13 Million Gallons Of Gasoline To U.S., But There's Catch

Jun 23, 2022 at 14:27 | Julianne Geiger

Commodity trading giant Gunvor wants to deliver 13 million gallons of gasoline to the United States, but there’s a catch: they need a Jones Act waiver to do it, Reuters…

Dallas Fed: Surging Costs Hamper U.S. Shale Growth

Dallas Fed: Surging Costs Hamper U.S. Shale Growth

Jun 23, 2022 at 14:24 | Tsvetana Paraskova

The business activity index in the energy firms operating in Texas, northern Louisiana, and southern New Mexico jumped in the second quarter to the highest level in six years, but…

Qatar Seeks Long-Term LNG Deals With EU Importers

Qatar Seeks Long-Term LNG Deals With EU Importers

Jun 23, 2022 at 11:45 | Charles Kennedy

Emboldened by a recent 20-year LNG deal a German energy company signed with a U.S. exporter, Qatar—another top LNG exporter—is now seeking long-term contracts with EU importers, which are racing…

Oil Majors Warn UK’s Windfall Tax Will Hurt North Sea Investment

Oil Majors Warn UK’s Windfall Tax Will Hurt North Sea Investment

Jun 23, 2022 at 10:59 | Charles Kennedy

Representatives of some of the biggest oil and gas companies operating in the North Sea on Thursday warned the UK’s Chancellor of the Exchequer Rishi Sunak that the new…

Highest-Ever July 4 Gasoline Prices Unlikely To Curb U.S. Demand

Highest-Ever July 4 Gasoline Prices Unlikely To Curb U.S. Demand

Jun 23, 2022 at 10:37 | Tsvetana Paraskova

U.S. drivers are facing the highest gasoline prices for the 4th of July on record, but these are unlikely to curb Americans' appetite for road trips this summer, analysts at…

A Strong Dollar Is Weighing On Precious Metals

A Strong Dollar Is Weighing On Precious Metals

Jun 23, 2022 at 10:17 | Ag Metal Miner

Gold has started to trade within a range formed by swing lows and highs. A break above either range will clear up the overall direction. Without a “big…

Fuel Traders Targeted As Gasoline Prices Soar

Fuel Traders Targeted As Gasoline Prices Soar

Jun 23, 2022 at 10:13 | City A.M

Despite falling wholesale costs of petrol and diesel, prices are still going up at the pump as motoring groups call on fuel traders to offer consumers relief.

Canada Unlikely To Return Blocked Gazprom Turbine

Canada Unlikely To Return Blocked Gazprom Turbine

Jun 23, 2022 at 09:09 | Irina Slav

The Gazprom turbine that Siemens Energy took to a Canadian factory to repair and that Gazprom blamed for the reduced Nord Stream 1 flows is not coming back to Russia…

Refiners Meet With Secretary Granholm To Discuss Prices

Refiners Meet With Secretary Granholm To Discuss Prices

Jun 23, 2022 at 08:58 | Irina Slav

Energy Secretary Jennifer Granholm is meeting today with refiners for emergency talks amid excessively high fuel prices amid increasingly strained relations between the Biden administration and the oil industry.…

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