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News

Crypto Miners Are Worsening Kazakhstan’s Energy Crisis

Crypto Miners Are Worsening Kazakhstan’s Energy Crisis

Nov 18, 2021 at 11:41 | Haley Zaremba

Energy demand is high and supplies are low from Europe to Asia. Many countries in the European Union have enacted emergency provisions to help their most vulnerable citizens…

Tensions Between Armenia And Azerbaijan Boil Over After Border Incidents

Tensions Between Armenia And Azerbaijan Boil Over After Border Incidents

Nov 18, 2021 at 10:59 | Eurasianet

Tensions have again boiled over between Armenia and Azerbaijan, with multiple exchanges of fire in recent days and traffic restricted by Azerbaijani forces on two roads along the…

U.S. Asks Big Oil Consuming Nations To Release Reserves

U.S. Asks Big Oil Consuming Nations To Release Reserves

Nov 18, 2021 at 10:00 | Irina Slav

China is not the only big oil consumer the United States has asked to release oil from its reserves in a bid to rein in prices, Reuters has reported,…

Biden Calls On FTC To Investigate Oil Companies And High Gas Prices

Biden Calls On FTC To Investigate Oil Companies And High Gas Prices

Nov 18, 2021 at 09:02 | Charles Kennedy

President Joe Biden has asked the Federal Trade Commission to investigate the possibility of oil companies’ involvement in price trends in retail fuels, alleging illegal conduct on the part of…

Largest Offshore Drilling Auction In U.S. History Kicks Off With $192M In Bids

Largest Offshore Drilling Auction In U.S. History Kicks Off With $192M In Bids

Nov 17, 2021 at 15:45 | Julianne Geiger

As U.S. oil companies show a new brand of fiscal discipline even as oil prices continue to climb, oil companies spent nearly $192 million on drilling rights in the Gulf…

India Shuts Coal Power Plants As Delhi Air Pollution Worsens

India Shuts Coal Power Plants As Delhi Air Pollution Worsens

Nov 17, 2021 at 13:00 | Charles Kennedy

India is temporarily shutting down half of the coal-fired power plants around Delhi, but this has had nothing to do with any “coal phase-down” pledges. The coal power plants…

Soaring Energy Prices Drive UK Inflation To 10-Year High

Soaring Energy Prices Drive UK Inflation To 10-Year High

Nov 17, 2021 at 12:41 | Tsvetana Paraskova

High energy prices drove inflation in the UK to a 10-year high of 4.2 percent in October, and energy is expected to fuel additional price hikes next year when the…

Belarus Reduces Flow On Oil Pipeline To Poland Amid Border Crisis

Belarus Reduces Flow On Oil Pipeline To Poland Amid Border Crisis

Nov 17, 2021 at 11:51 | Charles Kennedy

Belarus is reducing the flow of oil via the Druzhba pipeline from Russia to Poland for three days due to "unplanned maintenance" while the migrant crisis on the Belarus-Poland border…

UAE Speeds Up $20 Billion Natural Gas Projects

UAE Speeds Up $20 Billion Natural Gas Projects

Nov 17, 2021 at 11:24 | Tsvetana Paraskova

The Abu Dhabi National Oil Company (ADNOC) is set to imminently award engineering and construction contracts for a major offshore natural gas field to increase gas production and exports, sources…

Environmentalists Sue South Africa Over Plans For New Coal Capacity

Environmentalists Sue South Africa Over Plans For New Coal Capacity

Nov 17, 2021 at 10:11 | Tsvetana Paraskova

Environmental organizations are suing South Africa in a local high court over the government’s decision to build 1.5 gigawatts (GW) of new coal-fired power generation capacity, saying that more…

Federal Court Refuses To Move Line 5 Case To State Court

Federal Court Refuses To Move Line 5 Case To State Court

Nov 17, 2021 at 09:37 | Charles Kennedy

A federal judge has retained jurisdiction over a lawsuit involving the Line 5 oil pipeline that Michigan Governor Gretchen Whitmer wanted moved to a state court. The AP reports that…

OPEC: Oil Will Be King Of The Global Energy Mix Until At Least 2045

OPEC: Oil Will Be King Of The Global Energy Mix Until At Least 2045

Nov 17, 2021 at 08:13 | Tsvetana Paraskova

Oil will continue to be the fuel with the single largest share of the global energy mix by 2045, meeting 28 percent of energy demand then, OPEC Secretary-General Mohammad Barkindo…

WTI Crude Recovers On Cushing Inventory Draw, Gasoline Draw

WTI Crude Recovers On Cushing Inventory Draw, Gasoline Draw

Nov 16, 2021 at 15:51 | Julianne Geiger

The American Petroleum Institute (API) reported a small inventory build in crude oil that was just enough to keep the market from panicking over dwindling inventories. This week, the API…

OPEC: Global Energy Demand To Rise By 28% By 2045

OPEC: Global Energy Demand To Rise By 28% By 2045

Nov 16, 2021 at 15:15 | Charles Kennedy

Global energy demand will increase by 28 percent from now until 2045 due to rising economies and population, according to OPEC’s World Oil Outlook discussed at the ADIPEC energy…

IEA: Global Oil Inventories Rose In October

IEA: Global Oil Inventories Rose In October

Nov 16, 2021 at 15:06 | Charles Kennedy

After hitting a six-year low in September, commercial oil stocks in OECD countries showed a marginal build in October, suggesting that the months of hefty inventory draws globally may be…

UAE Sees OPEC+ Sticking To Oil Output Plan With Surplus Looming In Q1

UAE Sees OPEC+ Sticking To Oil Output Plan With Surplus Looming In Q1

Nov 16, 2021 at 12:58 | Tsvetana Paraskova

Despite the calls to boost supply to tame high prices, OPEC+ is likely to continue easing the cuts with the gradual pace it set in July as it expects the…

Exxon Puts Shale Gas Assets Up For Sale

Exxon Puts Shale Gas Assets Up For Sale

Nov 16, 2021 at 10:38 | Irina Slav

Exxon has put up for sale natural gas assets in the Barnett Shale in Texas, Reuters has reported, citing a confirmation of the news by the company. The assets…

Germany Suspends Nord Stream 2 Certification

Germany Suspends Nord Stream 2 Certification

Nov 16, 2021 at 09:08 | Tsvetana Paraskova

Natural gas prices at the key European hubs jumped to three-week highs on Tuesday after Germany said it had suspended the process of certification of the Russia-led Nord Stream 2…

Oman: OPEC+ Not Worried About Potential U.S. SPR Release

Oman: OPEC+ Not Worried About Potential U.S. SPR Release

Nov 15, 2021 at 13:06 | Tsvetana Paraskova

The OPEC+ group is not concerned about a possible release from the U.S. Strategic Petroleum Reserve (SPR), according to Oman's Energy Minister Mohammed Al-Rumhi cited by FXStreet. U.S. President…

Chinese Coal Production Jumps To Six-Year High In October

Chinese Coal Production Jumps To Six-Year High In October

Nov 15, 2021 at 11:35 | Tsvetana Paraskova

Chinese coal production in October rose to the highest level since March 2015 as the energy crisis in the world’s second-largest economy prompted authorities to seek to increase coal supply…

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