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UAE’s Oil Drilling Unit IPO Attracts $34 Billion In Orders 

UAE’s Oil Drilling Unit IPO Attracts $34 Billion In Orders 

Sep 27, 2021 at 13:41 | Charles Kennedy

Abu Dhabi National Oil Company (ADNOC) said on Monday that the initial public offering of its unit ADNOC Drilling attracted $34 billion in total gross demand in the bookbuilding…

Major Coal Consumer India Sees Stockpiles Slump To Four-Year Low

Major Coal Consumer India Sees Stockpiles Slump To Four-Year Low

Sep 27, 2021 at 13:11 | Tsvetana Paraskova

Amid a global energy shortage, India, one of the world’s largest coal consumers, has inventories of the fuel at its lowest level since November 2017, government data cited by

Sudan Strikes Deal With Protesters To Allow Oil Exports

Sudan Strikes Deal With Protesters To Allow Oil Exports

Sep 27, 2021 at 11:24 | Charles Kennedy

The Sudanese government has reached an agreement with protesters to lift blockades off Red Sea ports, including an export hub for South Sudan oil. Reuters reports that local tribes…

Iran And Venezuela Strike Oil Swap Deal

Iran And Venezuela Strike Oil Swap Deal

Sep 27, 2021 at 10:30 | Irina Slav

Iran and Venezuela have struck a deal to swap heavy Venezuelan crude for Iranian condensate, Reuters has reported, citing unnamed sources familiar with the deal. According to these sources,…

UK Suspends Competition Law To Tackle Fuel Panic Buying

UK Suspends Competition Law To Tackle Fuel Panic Buying

Sep 27, 2021 at 09:26 | Irina Slav

The UK government has temporarily suspended the Competition Act of 1998 to allow oil companies to help each other stock up on gasoline and diesel amid panic buying that started…

Bearish Hedge Fund Manager: ‘Nothing Can Save Oil’

Bearish Hedge Fund Manager: ‘Nothing Can Save Oil’

Sep 24, 2021 at 15:26 | Tsvetana Paraskova

The oil industry is in a terminal decline, hedge fund manager James Jampel told Bloomberg on Friday, noting that this year’s rise in oil stocks has been “the biggest…

Global Leaders Discuss Clean Energy At UN Summit

Global Leaders Discuss Clean Energy At UN Summit

Sep 24, 2021 at 15:21 | Charles Kennedy

World leaders are meeting at the United Nations on Friday to announce commitments to put the world on track to achieve clean energy for all by 2030 and net-zero…

50-Fold Jump In Power Rates Hits UK Metal, Mining Sector

50-Fold Jump In Power Rates Hits UK Metal, Mining Sector

Sep 24, 2021 at 13:05 | Tsvetana Paraskova

Soaring power prices amid Europe’s gas crunch will have a lasting impact on the bottom lines of mining and metal companies as prices in their long-term electricity supply contracts will…

Coal Prices Surge In The Global Energy Crunch

Coal Prices Surge In The Global Energy Crunch

Sep 24, 2021 at 12:33 | Tsvetana Paraskova

European coal prices have hit a 13-year high as coal supply to Europe remains constrained and utilities fire up more coal power plants amid surging natural gas prices. The price…

New Grid Standards Set To Prevent A Texas Freeze Repeat

New Grid Standards Set To Prevent A Texas Freeze Repeat

Sep 24, 2021 at 10:13 | Charles Kennedy

The Federal Energy Regulatory Commission and the North American Electric Reliability Corp have devised and issued a set of new grid reliability standards to avoid a repeat of the Texas…

U.S. Arrests Senior Russian LNG Executive For Tax Fraud

U.S. Arrests Senior Russian LNG Executive For Tax Fraud

Sep 24, 2021 at 09:17 | Irina Slav

The U.S. Department of Justice has arrested the chief financial officer of Novatek, Russia’s largest private gas company and biggest LNG exporter, on charges of tax fraud. In a

16 Percent Of Crude Oil Production In Gulf Of Mexico Still Offline: BSEE

16 Percent Of Crude Oil Production In Gulf Of Mexico Still Offline: BSEE

Sep 23, 2021 at 17:42 | Julianne Geiger

The aftermath of Hurricane Ida is still curtailing U.S. crude oil production, with 16% of crude oil production in the Gulf of Mexico still offline as of Thursday, according to…

Houthis Advancing Toward Yemen’s Oil And Gas Fields

Houthis Advancing Toward Yemen’s Oil And Gas Fields

Sep 23, 2021 at 15:40 | Tsvetana Paraskova

Military forces of the Iran-aligned Houthi movement in Yemen are advancing amid heavy fighting in the regions of Yemen that hold its oil and gas fields and assets, sources from…

The Evergrande Crisis Could Cause Chaos In Commodity Markets

The Evergrande Crisis Could Cause Chaos In Commodity Markets

Sep 23, 2021 at 14:01 | Metal Miner

China’s move to clean up its heavy-polluting industrial sector has triggered a swift collapse in iron ore prices for the first time since July 2020. Prices…

BP To Ration Petrol At UK Service Stations As Supplies Dwindle

BP To Ration Petrol At UK Service Stations As Supplies Dwindle

Sep 23, 2021 at 13:41 | ZeroHedge

Compounding the ongoing UK energy crisis is BP plc, a multinational oil and gas company, which said it plans to restrict deliveries of…

JPM, Barclays, And Citigroup Are Betting Big On Arctic Oil

JPM, Barclays, And Citigroup Are Betting Big On Arctic Oil

Sep 23, 2021 at 13:39 | City A.M

Oil and gas companies are set to ramp up production in the Arctic by 20 per cent in the next five years, according to a new report shared…

OPEC+ Working to Keep Oil At $70: Iraqi Oil Minister

OPEC+ Working to Keep Oil At $70: Iraqi Oil Minister

Sep 23, 2021 at 12:32 | Charles Kennedy

OPEC+ is working to keep prices around $70 per barrel, Reuters has reported, citing Iraq’s oil minister, Ihsan Abdul Jabbar Ismail. The official said the ministry hoped that oil…

UK Could Keep Coal Plants Operational Beyond Closure Date Amid Gas Crisis

UK Could Keep Coal Plants Operational Beyond Closure Date Amid Gas Crisis

Sep 23, 2021 at 11:22 | Charles Kennedy

UK power company Drax could have its last two coal-fired plants in the country operating beyond the 2022 deadline it had set for closure if the UK government asks it…

Energy Transition To Cost Italy $760 Billion This Decade

Energy Transition To Cost Italy $760 Billion This Decade

Sep 23, 2021 at 10:33 | Charles Kennedy

The price tag of the energy transition in Italy could be over $760 billion (650 billion euro) over the next ten years, the president of the local employers’ association said…

India’s Crude Production Slipped In August While Oil Imports Jumped

India’s Crude Production Slipped In August While Oil Imports Jumped

Sep 23, 2021 at 09:23 | Charles Kennedy

India saw its domestic crude oil production drop by 2.3 percent in August compared to August 2020, government data showed on Wednesday, while India is estimated to have significantly…

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