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Energy

Russia’s LNG Boom Hinges On Foreign Tech

Jun 02, 2021 at 15:57 | Gerald Jansen

Living the seventh year of sectoral sanctions that target its prospective oil and gas projects, Russia has grown accustomed to living under pressure. Sanctions have made it much more difficult…

Multinational Majors Announce Billion-Dollar Investment In Brazilian Oil Field

Jun 02, 2021 at 15:20 | Felicity Bradstock

Brazil thinks it can do it all as it refuses to curb fossil fuel production, despite IEA warnings, while expecting to still meet environmental goals. Meanwhile, Equinor, ExxonMobil,…

Biden Nixes $35 Billion In Fossil Fuel Tax Benefits

Jun 02, 2021 at 13:48 | Alex Kimani

President Biden's administration has so far proven to be one of the most aggressive in pursuing climate and clean energy targets. After rejoining the Paris Climate Accord in one of…

G7 Nations Invest More In Fossil Fuels Than Clean Energy Despite Pledges

Jun 02, 2021 at 12:44 | Charles Kennedy

The G7 nations have been pumping more in fossil fuels than in clean energy since the start of the pandemic, despite headline-grabbing pledges for ‘building back greener’, a new report…

Petrostates Will Never Again Get $1 Trillion In Oil And Gas Tax Revenue

Jun 02, 2021 at 12:04 | Tsvetana Paraskova

Total global revenues from oil and gas taxes are set to approach the $1-trillion mark in 2021, but unlike in pre-COVID times, the world will never again see such high…

Japan Looks To Become Leader In Wind Energy

Jun 02, 2021 at 11:09 | Gerald Jansen

Japan has notoriously been dependent on energy imports, being the world’s fifth-largest crude importer and second-largest LNG importer (having lost the top position to China last year). Its self-sufficiency ratio…

IEA: Global Energy Investment To Rise To $1.9 Trillion In 2021

Jun 02, 2021 at 10:12 | Irina Slav

Global energy investment this year is seen expanding by 10 percent from 2020 to $1.9 trillion, the International Energy Agency said in its World Energy Investment 2021 report. Energy…

Oil Rises On OPEC Optimism

Jun 02, 2021 at 09:02 | Irina Slav

Crude oil prices strengthened further this week after OPEC+ signaled its growing optimism about the balance between demand and supply, and confirmed that it planned to continue increasing production. Bloomberg…

Rapid Energy Transition Could Doom Oil Exporting Countries

Jun 01, 2021 at 16:54 | Alex Kimani

It’s a tough time being in the oil and gas business. Big Oil has lately come under a plethora of attacks from all…

Iraq Plays U.S. Off Against Iran With New Crucial Gas Deal

Jun 01, 2021 at 16:09 | Simon Watkins

Since the fall of Saddam Hussein in 2003, Iraq has played the main powers in the Middle East off against each other - the U.S. axis focused on Saudi Arabia…

India’s Oil Demand Outlook Remains A Mystery

Jun 01, 2021 at 15:01 | Tsvetana Paraskova

Oil demand in India has been clouding the outlook of global crude consumption since a devastating second COVID wave resurged in the world’s third-largest oil importer three months…

Lawmakers Are Firing Back At Fossil Fuel Divestors

Jun 01, 2021 at 14:57 | Haley Zaremba

As divestment from emissions-heavy fossil fuels and boycotting of the oil sector gain traction in both the public and private sector, a major…

Oil Prices Hit 2-Year High

Jun 01, 2021 at 13:10 | Josh Owens

Oil prices hit their highest level in more than two years as OPEC+ agreed to maintain its production…

Mumbai Gasoline Prices Now 2x More Expensive Than New York City

Jun 01, 2021 at 12:47 | Charles Kennedy

Citizens of Mumbai now pay twice as much for gasoline as a citizen of New York City, Bloomberg has reported, with prices at the pump up 11 percent since…

IEA Backpedals, Says Oil Demand Will Soon Reach Pre-Crisis Levels

Jun 01, 2021 at 12:08 | Charles Kennedy

Oil demand is recovering faster than previously expected, and unless OPEC+ puts additional barrels on the market on top of the plans to restore 2 million barrels per day (bpd)…

Oil Tops $71 As OPEC+ Keeps Output Plans Unchanged

Jun 01, 2021 at 09:08 | Tsvetana Paraskova

Oil prices rallied ahead of and during the monthly meeting of OPEC+ early on Tuesday after the alliance’s Joint Ministerial Monitoring Committee (JMMC) signaled there would be no changes in…

Asian Refinery Margins Crash To Nearly $0

Jun 01, 2021 at 08:12 | Charles Kennedy

Asian refiners are struggling with a major slump in profit margins because of the resurgence in Covid-19 infections in the region, Bloomberg has reported

New Iran Nuclear Deal May Completely Derail Oil Price Rally

May 31, 2021 at 18:08 | Simon Watkins

According to senior political and economic sources who work closely with the current Iranian government exclusively spoken to by OilPrice.com last week, the U.S. has agreed to a tentative removal…

OPEC Could Win Big As Supermajors Fend Off Environmentalists

May 31, 2021 at 17:33 | Tsvetana Paraskova

Environmentalists and shareholders concerned about the risks of investing in oil in the energy transition were not the only winners of last week’s historic rebuke

The U.S. Shale Patch Could Be In For Another Wave of Mergers

May 31, 2021 at 17:01 | Irina Slav

After last year saw some huge deals in the U.S. shale space, with ConocoPhillips merging with Concho Resources and Chevron buying Noble Energy, among others, it looks that…

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