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News

U.S. Crude Oil And Gasoline Inventories Drop Off

U.S. Crude Oil And Gasoline Inventories Drop Off

Apr 23, 2024 at 15:43 | Julianne Geiger

Crude oil inventories in the United States fell this week by 3.23 million barrels for the week ending April 19, according to The American Petroleum Institute (API). Analysts had estimated…

Permian Basin Dominates US Energy M&A Activity in Q1

Permian Basin Dominates US Energy M&A Activity in Q1

Apr 23, 2024 at 14:25 | Julianne Geiger

Houston-based data provider Enverus reported that the United States saw a record-breaking $51 billion worth of oil and gas deals in the first quarter of the year, with much of…

China's Coal Dependence to Persist Despite Global Climate Goals

China's Coal Dependence to Persist Despite Global Climate Goals

Apr 23, 2024 at 11:15 | Julianne Geiger

Amidst global efforts to phase out coal power by 2040, China's coal consumption is unlikely to decrease significantly by that time, according to a new report by Norwegian consultancy DNV.…

Renewables Giant NextEra Books Higher-Than-Expected Q1 Earnings

Renewables Giant NextEra Books Higher-Than-Expected Q1 Earnings

Apr 23, 2024 at 10:36 | Charles Kennedy

NextEra Energy Inc (NYSE: NEE) reported on Tuesday an 8.3% annual increase in its adjusted earnings per share for the first quarter, which topped analyst expectations, as…

Wind Overtakes Fossil Fuels as the UK’s Largest Power Generation Source

Wind Overtakes Fossil Fuels as the UK’s Largest Power Generation Source

Apr 23, 2024 at 09:18 | Charles Kennedy

The UK saw two consecutive quarters of wind power overtaking fossil fuels as the single-largest source of electricity generation for the first time, per data from think tank Ember quoted…

Oil Giants Seek Stakes in the UAE’s New LNG Export Project

Oil Giants Seek Stakes in the UAE’s New LNG Export Project

Apr 23, 2024 at 08:46 | Charles Kennedy

Large international oil and gas companies, including top LNG traders Shell and TotalEnergies, are in discussions to buy stakes in the new LNG export project of the United…

Polish Refiner Cancels Venezuelan Oil Deals as Sanctions Window Closes

Polish Refiner Cancels Venezuelan Oil Deals as Sanctions Window Closes

Apr 23, 2024 at 08:31 | Tsvetana Paraskova

Polish refiner Orlen has scrapped contracts to purchase Venezuelan crude and oil products after losing millions of U.S. dollars on prepayment for cargoes that haven’t been loaded while a wind-down…

UAE and Oman Sign $35 Billion Worth of Energy, Metals, and Infrastructure Deals

UAE and Oman Sign $35 Billion Worth of Energy, Metals, and Infrastructure Deals

Apr 23, 2024 at 07:15 | Tsvetana Paraskova

The United Arab Emirates and Oman signed on Tuesday $35 billion worth of investment partnerships in renewable energy, green metals, railways, and digital infrastructure and technology during the…

Halliburton Beats Earnings Forecast on High Oilfield Services Demand

Halliburton Beats Earnings Forecast on High Oilfield Services Demand

Apr 23, 2024 at 06:34 | Tsvetana Paraskova

Halliburton Company (NYSE: HAL) booked slightly higher-than-expected adjusted earnings for the first quarter, driven by rising international demand for oilfield services. The company, one of the world’s…

IEA Expects Strong EV Sales While Carmakers Flag Weaker Demand

IEA Expects Strong EV Sales While Carmakers Flag Weaker Demand

Apr 23, 2024 at 04:41 | Tsvetana Paraskova

Amid concerns in the auto industry about slowing electric vehicle sales with the phase-out of subsidies in key markets and consumers not yet convinced about affordability and range, the International…

Canada Wildfires Prompt First Evacuation Order in Oil Country

Canada Wildfires Prompt First Evacuation Order in Oil Country

Apr 23, 2024 at 03:47 | Charles Kennedy

Alberta authorities have issued the first evacuation order for this year as wildfires spread across Canada’s biggest oil producer. Per a Bloomberg report, the residents of a First…

California Considers Suing Exxon Over Plastic Pollution

California Considers Suing Exxon Over Plastic Pollution

Apr 23, 2024 at 02:49 | Irina Slav

California is close to completing a two-year investigation into Exxon on allegations of plastic pollution. After that, the state will decide whether to sue the supermajor for polluting or not.…

Oil Prices Stabilize as Geopolitical Risk Cools

Oil Prices Stabilize as Geopolitical Risk Cools

Apr 23, 2024 at 01:23 | Irina Slav

Crude oil prices have recouped some of the losses posted on Monday as fears of an escalation between Israel and Iran dissipated. Brent crude was trading above $87…

American Gasoline Prices Rise for Third Straight Week

American Gasoline Prices Rise for Third Straight Week

Apr 22, 2024 at 16:36 | Charles Kennedy

The nationwide average price of gasoline in the United States has risen for three consecutive weeks, gaining 4.3 cents over the past week, to hit $3.62 per gallon on Monday,…

Venezuela Looks to Crypto for Oil Sales As Sanctions Return

Venezuela Looks to Crypto for Oil Sales As Sanctions Return

Apr 22, 2024 at 13:00 | Charles Kennedy

With Venezuelan oil sanctions set to be reimposed and state-run PDVSA oil company buyers and suppliers under orders to close out transactions in line with sanctions by the end of…

Kurdish Media Allege OPEC Request for Resumption of Oil Exports to Turkey

Kurdish Media Allege OPEC Request for Resumption of Oil Exports to Turkey

Apr 22, 2024 at 11:58 | Charles Kennedy

Just a week after the Iraqi federal government announced it was repairing its own oil pipeline to Turkey, which would override a Kurdish oil pipeline that has been offline amidst…

Slump in Coal Production Drags Down Poland's Economic Recovery

Slump in Coal Production Drags Down Poland's Economic Recovery

Apr 22, 2024 at 09:37 | Charles Kennedy

A 26% plunge in coal mining weighed on Poland’s industrial output in March 2024, casting a shadow over the expectations that the biggest emerging-market economy in Europe would grow by…

Gazprom Shut Down Dozens of Natural Gas Wells Ahead of Spring Floods

Gazprom Shut Down Dozens of Natural Gas Wells Ahead of Spring Floods

Apr 22, 2024 at 08:15 | Charles Kennedy

Russia’s natural gas giant Gazprom had to shut down more than two dozen producing wells during the spring floods in the Orenburg region to keep the gas-producing wells from flooding,…

Biden Administration Backs Rooftop Solar With $7 Billion Grant

Biden Administration Backs Rooftop Solar With $7 Billion Grant

Apr 22, 2024 at 07:57 | Tsvetana Paraskova

U.S. President Joe Biden is announcing on Monday $7 billion in grants to help more than 900,000 low-income households install residential solar power, the White House said. President…

Biden Unlikely to Strictly Enforce Sanctions on Iranian Oil Ahead of Elections

Biden Unlikely to Strictly Enforce Sanctions on Iranian Oil Ahead of Elections

Apr 22, 2024 at 06:56 | Tsvetana Paraskova

Despite a new package of sanctions against Iran targeting financial institutions, ports, vessels, and refineries that knowingly process Iranian oil shipments, the U.S. Administration is unlikely to “strongly enforce” the…

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