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Energy

Big Oil Pursues African Expansion Despite Challenges

Mar 11, 2024 at 13:23 | Irina Slav

Investments in new oil production have been stalling since about 2014. This has led many to suggest that higher prices for longer are on the cards, supported by anti-oil industry…

Saudi Aramco Hikes 2023 Dividend To $98 Billion Despite Lower Profit

Mar 11, 2024 at 09:36 | Tsvetana Paraskova

Saudi Arabia is receiving record income from its cash cow, the state oil giant Aramco, which raised its total 2023 dividend payment by 30% to nearly $98 billion.     Saudi…

Kazakhstan Eyes Expanded Routes for Oil Exports in 2024

Mar 11, 2024 at 09:24 | Eurasianet

Kazakhstan increased oil exports by volume last year, but flagging prices meant this translated into diminished earnings. The plan for 2024 is to keep expanding sales abroad, although…

China's EV Exports Soar Despite Domestic Sales Slowdown

Mar 11, 2024 at 09:21 | ZeroHedge

Just when you thought the EV market couldn't get more saturated or competitive in China, sales have once again slowed and the country's market leader, BYD, is once…

Gartner Research: EVs Will Be Cheaper To Produce Than ICE Vehicles In 3 Years

Mar 08, 2024 at 15:11 | Alex Kimani

For many years, electric vehicle critics have been pessimistic that EVs will ever go mainstream because they, have argued, will always be more expensive than fossil fuel-powered vehicles. Market…

Oil Industry Consolidation in the Legislative Spotlight

Mar 08, 2024 at 14:52 | Irina Slav

U.S. oil and gas companies spent a combined $250 billion in mergers and acquisitions last year. More than half of that came from just two megadeals: Exxon's acquisition of…

Offshore Oil & Gas E&P Staging A Comeback

Mar 08, 2024 at 13:51 | Tsvetana Paraskova

The oil industry has found its newest exploration hotspot offshore Namibia. The high success rate of drilling and appraisal activity offshore Africa's southwestern coast is spurring Big Oil to boost…

U.S. Oil, Gas Drilling Activity Dips

Mar 08, 2024 at 12:12 | Julianne Geiger

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

Saudi Arabia and UAE Look To Extract Lithium from Oilfield Brine

Mar 08, 2024 at 10:48 | Charles Kennedy

Saudi Aramco and Abu Dhabi National Oil Company (ADNOC), the state oil giants of two of OPEC’s top producers, are in very early stages of working to extract lithium from…

Biofuels Market Booms as Demand Exceeds Pre-Pandemic Levels

Mar 08, 2024 at 09:26 | Felicity Bradstock

Biofuels are expected to play a major role in the global green transition, helping to power and decarbonise planes, ships and industry. These low-carbon fuels can be used to fill…

New Lithium Ion Conductor Redefines Solid-State Battery Design

Mar 08, 2024 at 09:16 | Brian Westenhaus

University of Liverpool researchers have discovered a solid electrolyte material that rapidly conducts lithium ions. The discovery of new Li ion conductor unlocks a new…

China Holds The Key To 2024 Global Oil Demand Growth

Mar 08, 2024 at 08:53 | Tsvetana Paraskova

Despite an increase in China’s crude oil imports in the first two months of 2024, it’s too early to say how the purchases of the world’s top crude importer will…

Oil Prices Remain Rangebound Despite Extension of OPEC+ Cuts

Mar 08, 2024 at 08:28 | Michael Kern

Oil prices have remained largely rangebound over the last month as bullish and bearish factors continue to counterbalance each other. 

Iran's Revolutionary Guards Capture Oil Tanker Amid Sanctions Dispute

Mar 08, 2024 at 08:14 | RFE/RL staff

When Iran seized a Marshall Islands-flagged oil tanker last year, Tehran said the transporter had collided with and damaged an Iranian vessel in the Gulf of Oman.

BP Awards New Chief £8 Million After Stellar 2023 Performance

Mar 08, 2024 at 08:07 | City A.M

The head of UK supermajor BP paid chief executive Murray Auchincloss £8m for 2023 on the back of a better-than-expected year. Figures published by the oil…

Iran's Oil Production Rises Despite Sanctions

Mar 08, 2024 at 06:25 | Editorial Dept

1. Guyana Takes Over European Oil Markets - Guyanese crude exports to Europe hit an all-time high in…

The U.S. Is Ready to Reimpose Sanctions on Venezuela

Mar 08, 2024 at 02:26 | Editorial Dept

Venezuela has announced an election date - July 28 - and Maduro is the only candidate, with a return of U.S. sanctions at stake. Maduro banned the only…

Israel Expects to Remain in Gaza for 10 Years

Mar 08, 2024 at 02:23 | Editorial Dept

Politics, Geopolitics & Conflict Lithuanian intelligence summarized by the Institute for the Study of War assessed that Russia is capable of maintaining its current momentum in the near term and…

OPEC+ Boosts Oil Prices But Downside Risk Remains

Mar 08, 2024 at 02:21 | Editorial Dept

April West Texas Intermediate (WTI) crude oil futures have seen varied movements in the past week, influenced by a range of global factors. The interplay of U.S. crude inventories, OPEC+…

2 Companies That Could Help Europe Win Its Energy War With Russia

Mar 07, 2024 at 14:15 | Michael Kern

Natural gas is now back in fashion in a very big way and the new mantra is that domestic sources in combination with renewable energy are the only true answer…

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