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U.S. Crude Is Dominating Global Oil Markets

U.S. Crude Is Dominating Global Oil Markets

Surging U.S. crude exports, particularly…

New Report Highlights Rising Investments in Nuclear Arsenals

New Report Highlights Rising Investments in Nuclear Arsenals

Nuclear-armed nations are increasing their…

News

YPFB Considers Leasing Pipelines to Facilitate Vaca Muerta Gas Exports

YPFB Considers Leasing Pipelines to Facilitate Vaca Muerta Gas Exports

Jun 18, 2024 at 13:59 | Julianne Geiger

Bolivia's state-owned oil and gas company, YPFB, is evaluating the possibility of leasing its pipeline infrastructure to Argentina for exporting natural gas from the Vaca Muerta shale play to Brazil.…

Citgo Corpus Christi Oil Refinery Restarts

Citgo Corpus Christi Oil Refinery Restarts

Jun 18, 2024 at 10:40 | Julianne Geiger

Citgo Petroleum Corporation has begun the process of restarting units at the West Plant of its 175,500 barrels per day (bpd) Corpus Christi, Texas, refinery. This follows the completion of…

Power Outage Could Reduce Norway’s Gas Supply to Europe Again

Power Outage Could Reduce Norway’s Gas Supply to Europe Again

Jun 18, 2024 at 10:21 | Charles Kennedy

The Nyhamna plant in Norway is unavailable for natural gas processing due to a power outage with an uncertain duration at the onshore facility, data from Norwegian gas system operator…

Russia’s Crude Shipments Rise Despite Vow to Fix Overproduction

Russia’s Crude Shipments Rise Despite Vow to Fix Overproduction

Jun 18, 2024 at 09:19 | Charles Kennedy

Russia continued to raise its crude oil exports by sea for a second consecutive week despite promising to stick strictly to its OPEC+ output target in June, tanker-tracking data and…

Fisker Files for Bankruptcy as Troubles Mount for EV Makers

Fisker Files for Bankruptcy as Troubles Mount for EV Makers

Jun 18, 2024 at 08:25 | Charles Kennedy

Electric vehicle manufacturer Fisker Group Inc said on Tuesday it had filed for Chapter 11 protection in the District of Delaware, one year after launching its first model, as…

U.S. Judge Dismisses Exxon’s Lawsuit Against Activist Investor

U.S. Judge Dismisses Exxon’s Lawsuit Against Activist Investor

Jun 18, 2024 at 07:43 | Tsvetana Paraskova

A U.S. district judge has dismissed a lawsuit filed by ExxonMobil against shareholder Arjuna Capital after ruling that the case is now moot after the activist investor had withdrawn…

Coal India Studies Argentina Lithium Asset Development With U.S. Company

Coal India Studies Argentina Lithium Asset Development With U.S. Company

Jun 18, 2024 at 07:02 | Tsvetana Paraskova

State-held giant Coal India and a U.S. company are considering joint development of lithium assets in Argentina, under the U.S.-led pact for Minerals Security Partnership, Reuters reported on Tuesday,…

Shell Boosts Its LNG Business by Buying Trader Pavilion Energy

Shell Boosts Its LNG Business by Buying Trader Pavilion Energy

Jun 18, 2024 at 06:57 | Tsvetana Paraskova

Shell, the world’s largest LNG trader, is doubling down on the sector and further boosting its liquefied natural gas business as it signed a deal to buy Singapore-based LNG trading…

Buffett’s Berkshire Hathaway Raises Occidental Stake to 29%

Buffett’s Berkshire Hathaway Raises Occidental Stake to 29%

Jun 18, 2024 at 04:49 | Tsvetana Paraskova

Berkshire Hathaway has recently bought another nearly 3 million shares in Occidental Petroleum, boosting its stake to almost 29%, Warren Buffett’s conglomerate said in an SEC filing this week.…

UK Oil Industry Needs Investment and Political Support to Halt Output Decline

UK Oil Industry Needs Investment and Political Support to Halt Output Decline

Jun 18, 2024 at 04:29 | Charles Kennedy

The UK could be producing 30% more oil from the North Sea in 2030 than previously expected if investments worth some $25 billion (20 billion pounds) are deployed for that…

Alberta’s Last Coal Plant Shuts Down as Natural Gas Takes Over

Alberta’s Last Coal Plant Shuts Down as Natural Gas Takes Over

Jun 18, 2024 at 03:41 | Charles Kennedy

The last coal-fired power plant in Alberta was shut down on Sunday with the operator likely to convert the generation facility to natural gas following the conversion of its other…

Court Returns Line 5 Pipeline Case to Michigan

Court Returns Line 5 Pipeline Case to Michigan

Jun 18, 2024 at 01:17 | Charles Kennedy

The Sixth Court of Appeals ruled against Enbridge in a case regarding its Line 5 pipeline and ordered the case returned to a Michigan court. The court battle between the…

Oil Prices Jump 2% on Improving Demand Outlook

Oil Prices Jump 2% on Improving Demand Outlook

Jun 17, 2024 at 13:59 | Josh Owens

The U.S. crude oil benchmark was trading up over 2% on Monday, with Brent gaining over 1.7% as the market digested data suggesting an improving demand outlook. 

Rystad Predicts Near Zero Oil Supply Growth in 2024

Rystad Predicts Near Zero Oil Supply Growth in 2024

Jun 17, 2024 at 12:01 | Michael Kern

Rystad Energy on Monday projected that global oil supply growth would slow in 2024 and potentially the following year, due to the extension of OPEC+ voluntary cuts and…

U.S. Gasoline Prices Up After 3-Week Decline

U.S. Gasoline Prices Up After 3-Week Decline

Jun 17, 2024 at 11:59 | Michael Kern

Prices at U.S. pumps rose 1 cent from a week ago, pushing pause on gradually declining prices, largely because of price increases in Great Lakes states, GasBuddy said…

World’s Top Shipping Register Removes Sanctioned Russian Insurer

World’s Top Shipping Register Removes Sanctioned Russian Insurer

Jun 17, 2024 at 09:42 | Charles Kennedy

The Liberia Register, which has about 16% of the world’s vessels by capacity flying Liberia’s flag, has withdrawn authorization to Russia’s Ingosstrakh Insurance Company to issue documents that allow ships…

Industry Calls on Australian Government to Back Gas Power

Industry Calls on Australian Government to Back Gas Power

Jun 17, 2024 at 09:18 | Charles Kennedy

Australia’s energy producers and utilities are calling on the government to support the existing natural gas-powered generation as a smooth market mechanism to move to growing shares of renewables in…

UK Renewable Energy Producers Could Be Hit by the EU Carbon Border Tax

UK Renewable Energy Producers Could Be Hit by the EU Carbon Border Tax

Jun 17, 2024 at 08:09 | Charles Kennedy

UK renewable power generators exporting electricity to the EU could be hit with the EU carbon border tax as of 2026 unless the UK and the European Union work a…

China Accelerates Crude Stockpiling Amid Weak Refining Output

China Accelerates Crude Stockpiling Amid Weak Refining Output

Jun 17, 2024 at 07:31 | Tsvetana Paraskova

China accelerated the pace of stockpiling crude oil inventories in May amid lower refining throughput and weaker crude imports compared to last year, in further bearish signs about China’s apparent…

Denmark Looks to Curb Dark Fleet Carrying Russian Oil in the Baltic Sea

Denmark Looks to Curb Dark Fleet Carrying Russian Oil in the Baltic Sea

Jun 17, 2024 at 06:48 | Tsvetana Paraskova

Denmark, other Baltic Sea countries, and allies from the European Union are considering ways to limit the volume of Russian oil transported on the so-called dark fleet in the Baltic…

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