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Breaking News:

OPEC Lifts Production in February


U.S. Oil Drilling Gets Another Bump As WTI Soars To $80

Mar 01, 2024 at 12:21 | Julianne Geiger

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday. The total…

WTI Soars Past $80 per Barrel as Oil Market Tightens

Mar 01, 2024 at 09:59 | Julianne Geiger

The price of a WTI barrel soared to heights not seen since November as the market braces for an OPEC+ decision on oil production levels in April…

Red Sea Disruptions Push OECD Crude Inventories Lower

Mar 01, 2024 at 09:04 | Editorial Dept

1. Red Sea Disruptions Shrink OECD Crude Inventories Further - The price squeeze in the Atlantic…

Mysterious Power Outage Paralyzes Tajikistan

Mar 01, 2024 at 09:01 | Eurasianet

Entire swathes of Tajikistan were left without electricity for around three hours on March 1 amid what appears to have been a major technical malfunction. Households…

Oil Markets Await the Next OPEC+ Announcement

Mar 01, 2024 at 08:59 | Michael Kern

Oil prices remained stubbornly rangebound in February as signs of a recovering U.S. economy were countered by weaker economic data in both Europe and China.

Exxon Threatens to Derail Chevron's Acquisition of Hess

Mar 01, 2024 at 08:49 | ZeroHedge

Exxon's challenge of Chevron's acquisition of Hess could result in a windfall for Exxon shareholders, a new report from Reuters speculates. 

Could This Unknown Company Help Solve Europe’s Energy Crisis?

Mar 01, 2024 at 06:52 | Michael Kern

Supergiants like Exxon are focused on big offshore venues like Guyana and Namibia, leaving behind prime onshore natural gas assets in Europe - a region that is now desperate for…

Supply Becomes a Downward Risk for Oil Prices Despite OPEC+ Cuts

Mar 01, 2024 at 01:43 | Editorial Dept

This week's crude oil price movements have been significantly influenced by various economic indicators and central bank policies. In the U.S., the Federal Reserve's preferred inflation gauge, the personal consumption…

Israel's Plan to Expand Settlements Weakens U.S. Support

Mar 01, 2024 at 01:42 | Editorial Dept

Politics, Geopolitics & Conflict Tel Aviv added more fuel to the fire in the conflict with Gaza this week by announcing an expansion of settlements in the occupied West Bank,…

NATO Raises Rhetoric as Russia Inches Forward in Ukraine

Mar 01, 2024 at 01:39 | Editorial Dept

NATO has, for all intents and purposes, given Kyiv the green light to target anything within Russia’s borders, with Secretary General Jens Stoltenburg telling RFE/RL that Kyiv would be within…

Natural Gas Futures Market’s Wild Swings Set To Continue

Feb 29, 2024 at 13:24 | Tsvetana Paraskova

Despite the currently low U.S. natural gas prices and the huge shale gas resources, the futures market has seen wild swings in recent months. Record 2023 gas production and one…

Petrobras Plans Dividend Squeeze To Fund Transition to Renewables

Feb 29, 2024 at 12:06 | Irina Slav

Brazil’s state-owned energy heavyweight Petrobras will be distributing more modest dividends in the future as it prepares to become a renewable energy company. That’s according to chief executive Jean Paul…

Offshore Oil Discoveries Thrive

Feb 29, 2024 at 08:18 | Irina Slav

Analysts and energy industry executives are sounding the alarm about underinvestments in oil and gas exploration. This has been going on for years, and it is a recipe for shortages…

Oil Majors Dive Into Deepwater Projects Despite Tight Budgets

Feb 29, 2024 at 07:43 | Rystad Energy

Oil and gas upstream majors — ExxonMobil, Shell, Chevron, BP, TotalEnergies and Eni — will continue to exercise caution in exploration spending this year, with drilling activity poised…

Asia's Energy Dilemma: Can the Continent Kick Its Coal Habit?

Feb 29, 2024 at 07:35 | Felicity Bradstock

Countries worldwide are accelerating the closure of their coal plants, as governments and private companies plough money into growing the global renewable energy capacity, supporting a gradual transition away from…

New Tech Enhances Safety and Performance of Lithium Ion Batteries

Feb 29, 2024 at 07:29 | Brian Westenhaus

Incheon National University scientists have developed a method to improve the stability and properties of lithium ion battery separators with a layer of silicon dioxide and other…

Oil Workers Fired As Strike Rages On in Kazakhstan

Feb 29, 2024 at 07:24 | Eurasianet

An oil services company in western Kazakhstan whose operations have been hampered by a strike that began in December has escalated the standoff by announcing that it will…

World’s Top Oil Trader Sees Oil Demand Peak After 2030

Feb 28, 2024 at 13:53 | Tsvetana Paraskova

A slower pace of the energy transition will push peak oil demand beyond 2030, according to the world’s biggest independent oil trader, Vitol Group.  “Oil demand has a good few…

This Could Be A Gamechanger For Natural Gas In Europe

Feb 28, 2024 at 13:18 | Michael Kern

Supergiants like Exxon are focused on big offshore venues like Guyana and Namibia, leaving behind prime onshore natural gas assets in Europe - a region that is now desperate for…

Oman Increases Its Appeal To China And Iran With Game-Changing Duqm Project

Feb 28, 2024 at 11:19 | Simon Watkins

The long-awaited US$8.5 billion 230,000-barrels per day (bpd) Duqm Refinery Project (DRP) – and its ancillary projects (costing another US$10 billion or so) – were officially inaugurated on 7 February,…

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