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News

Kurdistan’s Oil Exports Could Be Shut In For Another Week

Kurdistan’s Oil Exports Could Be Shut In For Another Week

Mar 30, 2023 at 08:53 | Charles Kennedy

Kurdistan’s oil exports could be suspended for several more days as officials from Kurdistan are set to return to Baghdad next week for a new round of talks on the…

PetroChina Sees Chinese Fuel Demand Rising By 3% From Pre-Covid Levels

PetroChina Sees Chinese Fuel Demand Rising By 3% From Pre-Covid Levels

Mar 30, 2023 at 08:08 | Tsvetana Paraskova

China’s fuel demand is expected to rise by 3% in 2023 compared to the pre-Covid levels of 2019, state-owned giant PetroChina said on Thursday in an upbeat outlook on Chinese…

UK To Boost Energy Security By Investing In Renewables

UK To Boost Energy Security By Investing In Renewables

Mar 30, 2023 at 02:41 | Charles Kennedy

The UK will later today unveil plans for boosting its energy security by scaling up investments in low-carbon energy. Offshore wind, carbon capture and reuse, and green hydrogen production are…

Rising Costs Are Hurting U.S. Oil And Gas Production Growth

Rising Costs Are Hurting U.S. Oil And Gas Production Growth

Mar 30, 2023 at 01:03 | Irina Slav

Soaring costs have caused a slowdown in oil and gas production growth in the U.S., with the outlook also worsening, the latest edition of the Dallas Fed Energy Survey

America’s LNG Problems Hit Banking Crisis Snags

America’s LNG Problems Hit Banking Crisis Snags

Mar 29, 2023 at 12:50 | Charles Kennedy

The banking crisis that started with the failure of Silicon Valley Bank (SVB) is putting major U.S. LNG projects at risk, as rising interest rates and supply chain…

Octopus Trust Calls For Faster Grid Access In UK

Octopus Trust Calls For Faster Grid Access In UK

Mar 29, 2023 at 12:48 | City A.M

A leading trust has warned that National Grid needs to speed up grid connections for new renewable projects if it wants the UK’s investment climate to be more…

Gulf of Mexico Auction Opens As Biden Compromises On Public Land

Gulf of Mexico Auction Opens As Biden Compromises On Public Land

Mar 29, 2023 at 12:41 | Charles Kennedy

The Biden administration is moving ahead today with the controversial online auction of over 114,000 square miles of oil and gas leases in the Gulf of Mexico in…

Repsol Invests $217 Million In Sustainable Jet Fuel Production

Repsol Invests $217 Million In Sustainable Jet Fuel Production

Mar 29, 2023 at 10:42 | Michael Kern

Repsol has invested a whopping €200 million ($217 million) in southeast Spain to set up a plant that converts used cooking oil into sustainable aviation fuel (SAF).  While…

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…

Italy To Unveil $5.4 Billion In Funds To Compensate Energy Costs For Consumers

Italy To Unveil $5.4 Billion In Funds To Compensate Energy Costs For Consumers

Mar 29, 2023 at 09:08 | Julianne Geiger

Italy is set to outline its plan to dole out $5.4 billion in funds to cut the costs for energy consumers, government officials said on Tuesday. The measures will be…

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…

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