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Energy

Chinese Oil Major Sinopec Announces Oil, Gas Discovery

Aug 26, 2021 at 09:28 | Charles Kennedy

China’s state-owned oil and gas major Sinopec has struck oil and gas at a field in the northwestern province of Xinjiang, Reuters reports, adding that the reserves at the…

House Democrats Seek More Oil Drilling Bans

Aug 26, 2021 at 09:06 | Charles Kennedy

Democrats on the House Natural Resources Committee are proposing more offshore drilling bans and higher fees and royalty charges on the oil and gas industry to raise funds for wildlife…

BP Spins Off Operations Of Iraq’s Largest Oilfield

Aug 26, 2021 at 08:47 | Tsvetana Paraskova

BP is spinning off its assets in Iraq by setting up a joint venture with PetroChina which will manage Iraq’s largest oilfield Rumaila as the UK-based supermajor is looking…

Oil’s Comeback Is Lifting Commodity Prices

Aug 25, 2021 at 12:00 | Alex Kimani

After taking a beating over the past few weeks, oil prices have been surging on rising demand optimism, a major production outage in Mexico, and the…

Frackers See Light At The End Of The Tunnel In Oil Markets

Aug 25, 2021 at 11:56 | Tsvetana Paraskova

Recovering global oil demand and drilling activity has made oilfield services firms optimistic about the sector’s prospects not only in the immediate future but also in the medium…

LNG’s Position As A Bridge Fuel Remains Strong

Aug 25, 2021 at 11:53 | Irina Slav

When earlier this month analysts sounded the alarm for Europe’s energy security because of the looming shortage of liquefied natural gas, the culprit behind the situation was identified…

Oil Ticks Higher On Crude Inventory Draw

Aug 25, 2021 at 09:37 | Irina Slav

Oil prices recouped some of their latest losses today, after the Energy Information Administration reported a crude oil inventory draw of 3 million barrels for the week to August…

Merkel Criticizes Russia’s Weaponization Of Natural Gas

Aug 25, 2021 at 09:25 | RFE/RL staff

German Chancellor Angela Merkel has said natural gas should never be used as a geopolitical weapon and backed extending an energy partnership deal with Ukraine once it expires…

80% Of Afghanistan’s Budget Has Disappeared Overnight

Aug 25, 2021 at 09:10 | Safehaven.com

For governing a country, $1.6 billion in cash can’t be stretched too far. That’s how much comes in the coffers of the Taliban, which has now taken over…

China And Russia Are Ready To Take Advantage Of Afghanistan’s Mineral Wealth

Aug 25, 2021 at 09:02 | ZeroHedge

Amateur and professional bean counters are starting to take stock of what, exactly has changed during 20 years of war between the US and the Taliban. And while…

China Announces Major Shale Oil Discovery

Aug 25, 2021 at 08:48 | Tsvetana Paraskova

China announced on Wednesday the discovery of a major shale oilfield in the Daqing Oilfield cluster with expected reserves of 1.27 billion tons of oil, Chinese Xinhua news…

Oil Prices Flat As Mexico Looks To Restore Production

Aug 25, 2021 at 08:39 | Irina Slav

Mexico's Pemex has restored about 17 percent of the more than 400,000 bpd in oil production it lost due to a fire that erupted on an offshore platform…

All-Electric Future Comes At A Huge Cost

Aug 24, 2021 at 16:31 | Tsvetana Paraskova

The electrification of homes is touted as one way to reduce greenhouse gas emissions in the residential sector as the U.S. Administration aims for a net-zero economy by…

China And Iran Zero-In On Oman’s Massive New Oil Storage Project

Aug 24, 2021 at 14:47 | Simon Watkins

Oman occupies a strategically vital position in the geography of the Middle East, possessing long coastlines along the Gulf of Oman and along the Arabian Sea, away from…

Oil Rebounds On Mexico Production Outage

Aug 24, 2021 at 11:47 | Tom Kool

Crude prices recovered for the second day in a row, fueled by optimism about falling COVID-19 infections in China and by a major production outage in the Gulf of Mexico…

Why Pfizer’s FDA Approval Has Been A Boon For Oil Prices

Aug 24, 2021 at 11:09 | Irina Slav

The recent resurgence in Covid-19 infections in many parts of the world led not just to a slump in oil prices but growing pessimism about the prospects of…

Chevy Bolt Recall Raises Concerns About Lithium Battery Safety

Aug 24, 2021 at 10:19 | Metal Miner

So far, it has been largely Samsung cell phones or laptops batteries that have caught the media’s attention when devices have caught fire, particularly in contained…

U.S. Coal Consumption Hit 60-Year Low In 2020

Aug 24, 2021 at 10:13 | Robert Rapier

The is the fifth article in a series on BP’s recently-released Statistical Review of World Energy 2021. Previous articles provided

Oil Glut In Asia Worsens

Aug 24, 2021 at 09:51 | Irina Slav

The amount of oil held in floating storage at Asian ports is growing, with Iranian and Venezuelan crude cargoes earlier this month pushing Asian floating inventories to the highest in…

Brent Climbs Back Above $70 On Major Production Outage

Aug 24, 2021 at 09:00 | Tsvetana Paraskova

Oil prices extended Monday’s 5-percent gain early into Tuesday, as concerns about global demand started to ease while a major outage in Mexico supported prices on the supply side. As…

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