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News

Westinghouse Secures Czech Nuclear Fuel Contract

Westinghouse Secures Czech Nuclear Fuel Contract

Mar 29, 2023 at 10:23 | Michael Kern

Westinghouse, a U.S.-based nuclear fuel supplier, will replace Russia's TVEL as the supplier for CEZ's Dukovany nuclear power plant in the Czech Republic beginning in 2024.  This change…

Chinese Oil Giant CNOOC Books Record-High Profit For 2022

Chinese Oil Giant CNOOC Books Record-High Profit For 2022

Mar 29, 2023 at 07:51 | Charles Kennedy

CNOOC, the Chinese state-owned oil and gas giant, reported on Wednesday a record-high profit for 2022, thanks to the high oil and gas prices.  CNOOC also boosted its net…

$11 Trillion Investor Group Urges Members Not To Fund New Oil And Gas Projects

$11 Trillion Investor Group Urges Members Not To Fund New Oil And Gas Projects

Mar 29, 2023 at 07:27 | Tsvetana Paraskova

The Net-Zero Asset Owner Alliance, a group made up of members from the banking, insurance, and investment sectors with $11 trillion of assets under management, called on its members on…

Major Oil Producer In Kurdistan Shuts Down Fields After Export Halt

Major Oil Producer In Kurdistan Shuts Down Fields After Export Halt

Mar 29, 2023 at 06:51 | Tsvetana Paraskova

The company pumping a quarter of Kurdistan’s crude oil exports, Norway-based DNO ASA, said on Wednesday it had started an orderly shutdown of its oil fields in the semi-autonomous…

Nigeria Expands Exploration To Boost Oil Reserves To 50 Billion Barrels

Nigeria Expands Exploration To Boost Oil Reserves To 50 Billion Barrels

Mar 29, 2023 at 04:54 | Tsvetana Paraskova

Nigeria’s state oil firm has started exploration in the onshore frontier basins, aiming to boost the OPEC producer’s proven crude oil reserves to 50 billion barrels from 37 billion barrels,…

China Settles First LNG Trade In Yuan

China Settles First LNG Trade In Yuan

Mar 29, 2023 at 03:53 | Tsvetana Paraskova

China has just completed its first trade of liquefied natural gas (LNG) settled in yuan, the Shanghai Petroleum and Natural Gas Exchange said on Tuesday. Chinese state oil and…

The SPR Refill Could Start This Year

The SPR Refill Could Start This Year

Mar 29, 2023 at 02:18 | Irina Slav

Just days after she suggested refilling the strategic petroleum reserve could take years, Energy Secretary Jennifer Granholm has said that buying for the SPR could begin this year. "We…

Societe Generale Explains Why It Pulls Out Of Rio Grande LNG Project

Societe Generale Explains Why It Pulls Out Of Rio Grande LNG Project

Mar 28, 2023 at 17:37 | Julianne Geiger

Next Decade's Rio Grande LNG project in Texas has seen a few delays. Delays which now could be explained by the fact that the project's financial advisor, Societe Generale, pulled…

Oil Prices Get Another Boost As U.S. Crude Oil, Product Inventories Fall

Oil Prices Get Another Boost As U.S. Crude Oil, Product Inventories Fall

Mar 28, 2023 at 15:52 | Julianne Geiger

Crude oil inventories in the United States fell this week by 6.076 million barrels, the American Petroleum Institute (API) data showed on Tuesday, in a major divergence from the 187,000…

M&A Action Continues In The Canadian Oil Patch With $1.2 Billion Deal

M&A Action Continues In The Canadian Oil Patch With $1.2 Billion Deal

Mar 28, 2023 at 13:28 | Tom Kool

Yesterday we reported about the Energy Transfer LP takeover of midstream operator Lotus energy and the Brookfield Renewable Partners acquisition of Australia’s Origin Energy for $10 billion. Today, the…

EU Extends Natural Gas Price Cap For Spain And Portugal

EU Extends Natural Gas Price Cap For Spain And Portugal

Mar 28, 2023 at 10:52 | Michael Kern

The European Union has agreed to extend a cap on natural gas prices for power generation in Spain and Portugal until the end of the year.  Spanish Energy Minister…

Siemens And FATA To Build Billion-Dollar Power Link In Italy

Siemens And FATA To Build Billion-Dollar Power Link In Italy

Mar 28, 2023 at 10:41 | Michael Kern

Siemens Energy and Italy's FATA have landed a contract worth almost $1.08 billion to supply transmission technology for a 970 km long power link joining Sardinia, Sicily, with the Italian…

Oil’s Low Prices Draw Rash Of Hedging

Oil’s Low Prices Draw Rash Of Hedging

Mar 28, 2023 at 09:15 | Julianne Geiger

Last week’s crashing oil prices were awfully tempting last week for big oil consumers, who took advantage of the low prices to hedge against the inevitable price rise. Major oil…

EU To End Sales Of New Gasoline And Diesel Cars In 2035

EU To End Sales Of New Gasoline And Diesel Cars In 2035

Mar 28, 2023 at 08:47 | Charles Kennedy

The European Union member states on Tuesday approved an emissions regulation under which the bloc will end sales of new carbon dioxide-emitting cars and vans in 2035. The new…

Strikes Cripple France’s Fuel Supply

Strikes Cripple France’s Fuel Supply

Mar 28, 2023 at 08:42 | Tsvetana Paraskova

Four weeks of protests against the pension reform in France have crippled supply to French refineries and refinery operations as workers join the nationwide industrial action, while prices for European…

Pirates Board Oil Tanker Offshore West Africa

Pirates Board Oil Tanker Offshore West Africa

Mar 28, 2023 at 08:19 | Tsvetana Paraskova

An oil and chemical tanker was attacked by pirates in the Gulf of Guinea offshore West Africa, a spokesperson for the Danish shipping company which owns the vessel told

U.S. And Japan Close Critical Minerals Deal To Counter China's EV Dominance

U.S. And Japan Close Critical Minerals Deal To Counter China's EV Dominance

Mar 28, 2023 at 02:59 | Irina Slav

The United States and Japan have sealed a deal to cooperate on critical minerals for batteries that will see the two try and move EV supply chains…

California Passes Gasoline Price Gouging Law

California Passes Gasoline Price Gouging Law

Mar 28, 2023 at 01:40 | Charles Kennedy

California lawmakers passed legislation this week that will allow penalties to be imposed on fuel retailers for what California’s governor has called price gouging at the pump. The new law…

Warren Buffett Boosts Occidental Petroleum Stake Yet Again

Warren Buffett Boosts Occidental Petroleum Stake Yet Again

Mar 28, 2023 at 00:44 | Charles Kennedy

Warren Buffett’s Berkshire Hathaway bought shares in Occidental Petroleum for the third time this month, boosting its stake in the company to 23.6 percent. The investment firm paid $216 million…

Oil Prices Jump 5% On Easing Banking Fears

Oil Prices Jump 5% On Easing Banking Fears

Mar 27, 2023 at 16:07 | Charles Kennedy

Amid extreme volatility, crude oil prices rallied sharply on Monday recording their biggest gains in months after a banking crisis seemed to lose steam.  At 4:42…

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