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News

Billionaire Oil Trading Veteran Bets Big On Batteries

Billionaire Oil Trading Veteran Bets Big On Batteries

Sep 30, 2021 at 17:50 | Charles Kennedy

Billionaire Alex Beard, who retired as head of worldwide oil operations at commodities and mining giant Glencore two years ago, has set his sights on the battery storage market in…

Libya Looks To Attract U.S. Oil Companies

Libya Looks To Attract U.S. Oil Companies

Sep 30, 2021 at 17:45 | Julianne Geiger

Libya is looking for U.S. oil companies to return to the oil-rich nation, according to Bloomberg. Libya’s oil minister Mohamed Aoun has said that he hopes U.S. companies will return…

“At All Costs”: China Pulls Out All Stops To Prevent Winter Energy Crisis

“At All Costs”: China Pulls Out All Stops To Prevent Winter Energy Crisis

Sep 30, 2021 at 17:40 | Julianne Geiger

China’s central government has ordered state-owned energy companies to do whatever they must to secure energy supplies for this winter, according to Bloomberg sources. The Vice Premier Han Zheng…

Russia Has Massive Hydropower And Wind Energy Potential

Russia Has Massive Hydropower And Wind Energy Potential

Sep 30, 2021 at 12:27 | Irina Slav

Wind power and hydropower are the renewable energy sources with the best chance of successful deployment in Russia, a new paper has suggested. The country has great potential for…

Study: Mexico Has 22 Terawatts Of Green Hydrogen Potential

Study: Mexico Has 22 Terawatts Of Green Hydrogen Potential

Sep 30, 2021 at 11:48 | Latin America Energy Advisor

Mexico has the potential to install 22 terawatts (TW) of green hydrogen infrastructure, with key areas for development being public transport, power generation and the petrochemical industry, according to a…

Value Of OPEC’s Oil Exports Plunged By $240 Billion In 2020

Value Of OPEC’s Oil Exports Plunged By $240 Billion In 2020

Sep 30, 2021 at 11:40 | Tsvetana Paraskova

The value of petroleum exports of OPEC members plummeted by over $240 billion last year due to the collapse in demand and prices in the pandemic, figures from the cartel’s…

UK Wants China Out Of Nuclear Power Project

UK Wants China Out Of Nuclear Power Project

Sep 30, 2021 at 10:02 | Charles Kennedy

The UK is ousting China's CGN from the Sizewell C nuclear power plant project, the Financial Times reported, adding that the options for the 20-percent stake that the Chinese…

Commerce Department Delays Critical Decision On Solar Panel Tariffs

Commerce Department Delays Critical Decision On Solar Panel Tariffs

Sep 30, 2021 at 09:00 | Irina Slav

The U.S. Commerce Department has delayed a critical decision on imposing additional tariffs on solar panel imports—a decision which could make or break the industry, U.S. solar developers fear. Reuters…

China Further Restricts Power Use Amid Widening Energy Crisis

China Further Restricts Power Use Amid Widening Energy Crisis

Sep 29, 2021 at 16:24 | Tsvetana Paraskova

In a widening energy crisis, China is expanding power use restrictions to at least 20 regions and provinces that contribute more than half to the Chinese economy, adding a…

Enbridge To Start New Line 3 Oil Pipeline On October 1st

Enbridge To Start New Line 3 Oil Pipeline On October 1st

Sep 29, 2021 at 14:33 | Charles Kennedy

Enbridge has completed the Line 3 replacement project and set the in-service date for the oil pipeline for October 1, the Canadian pipeline giant said on Wednesday, marking the…

Rich Countries Could Help Finance South Africa’s Coal Exit

Rich Countries Could Help Finance South Africa’s Coal Exit

Sep 29, 2021 at 12:28 | Tsvetana Paraskova

Representatives of the United States, the European Union, the UK, France, and Germany are meeting with South Africa’s top government officials to discuss a potential climate agreement and ways to…

China’s Power Crisis Hits Manufacturing

China’s Power Crisis Hits Manufacturing

Sep 29, 2021 at 11:24 | Charles Kennedy

Amid tight power supplies and soaring coal prices, power outages in China have started to hit factories of various energy-intensive industries, sparking renewed fears about larger disruptions to global supply…

Oil Tanker Market Set For Another Year Of Disappointing Profits

Oil Tanker Market Set For Another Year Of Disappointing Profits

Sep 29, 2021 at 09:51 | Charles Kennedy

The global oil tanker industry will have to endure another year of low profits on the back of pandemic-related disruptions and production constraints, the chief shipping analyst of industry association…

U.S. Asks China To Reduce Oil Imports From Iran

U.S. Asks China To Reduce Oil Imports From Iran

Sep 29, 2021 at 09:49 | Irina Slav

The United States has approached China about the latter’s crude oil imports from Iran, seeking to pressure Iran into nuclear deal negotiations through its biggest oil client, Reuters has

BP Expects Oil Demand To Return To Pre-Crisis Level In Autumn 2022

BP Expects Oil Demand To Return To Pre-Crisis Level In Autumn 2022

Sep 29, 2021 at 08:46 | Tsvetana Paraskova

Driven by fuel demand in Asia, oil demand worldwide is expected to rise to the levels before the pandemic in the third quarter of 2022, a senior executive at BP…

Surprise Crude Build Caps Oil Prices

Surprise Crude Build Caps Oil Prices

Sep 28, 2021 at 15:57 | Julianne Geiger

The American Petroleum Institute (API) on Tuesday reported a surprise build in crude oil inventories of 4.127 million barrels for the week ending September 24. The build runs contrary to…

Ford Just Made Its Biggest Investment Ever

Ford Just Made Its Biggest Investment Ever

Sep 28, 2021 at 12:16 | Charles Kennedy

Ford Motor Company plans to make the largest investment in its history in U.S. manufacturing sites that would build the electric F-Series trucks and the batteries to power future electric…

Soaring Coal Prices Are Squeezing Aluminum Supply

Soaring Coal Prices Are Squeezing Aluminum Supply

Sep 28, 2021 at 12:11 | Metal Miner

Consumers have looked aghast at rising aluminum prices this year and wondered how much longer it can continue. The explanation that global economies are bouncing back…

Azerbaijan And Turkey’s Latest Gas Deal Shrouded In Mystery

Azerbaijan And Turkey’s Latest Gas Deal Shrouded In Mystery

Sep 28, 2021 at 12:06 | Eurasianet

After almost a year of intense negotiations, Azerbaijan and Turkey have finally concluded a new deal to replace the 20-year-old contract that had governed their gas trade

Another U.S. Pipeline Project Collapses

Another U.S. Pipeline Project Collapses

Sep 28, 2021 at 11:32 | Charles Kennedy

Oil and gas pipeline opponents scored a win this week after PennEast Pipeline Co. said it would drop a gas pipeline project that would have shipped the commodity from Pennsylvania…

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