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News

EV Loss Drags Down Ford’s Q2 Profit

EV Loss Drags Down Ford’s Q2 Profit

Jul 25, 2024 at 01:50 | Irina Slav

A loss before interest and taxes dragged down Ford’s second-quarter net result, missing analyst expectations despite an increase in revenues. The company reported revenues of $47.8 billion for the…

NextEra Energy Reports Mixed Q2 Results, Reaffirms FY24 Outlook

NextEra Energy Reports Mixed Q2 Results, Reaffirms FY24 Outlook

Jul 24, 2024 at 12:51 | Alex Kimani

Renewable energy utility NextEra Energy Inc. (NYSE:NEE) has reported mixed Q2 2024 results and reaffirmed outlook for FY 2024, with revenue…

RWE and TotalEnergies Join Forces to Develop Offshore Wind in the Netherlands

RWE and TotalEnergies Join Forces to Develop Offshore Wind in the Netherlands

Jul 24, 2024 at 11:48 | Tom Kool

RWE and TotalEnergies have joined forces to deliver the OranjeWind offshore wind project in the Netherlands. The project features an installed capacity of 795 MW, and marks the first system…

Russia, Iraq And Kazakhstan To Compensate Overproduction in The Next 15 Months

Russia, Iraq And Kazakhstan To Compensate Overproduction in The Next 15 Months

Jul 24, 2024 at 11:04 | Alex Kimani

Russia, Iraq, and Kazakhstan have submitted their compensation plans to the OPEC Secretariat for overproduced crude volumes for the first six months of 2024. According to OPEC,…

Greencoat UK Wind Prioritizes Share Buybacks Despite Challenges

Greencoat UK Wind Prioritizes Share Buybacks Despite Challenges

Jul 24, 2024 at 09:41 | City A.M

Greencoat UK Wind has pushed ahead with an ambitious share buyback programme, even as the trust struggles with low wind speeds and falling…

‘Oil Kills’ Climate Activists Block European Airports

‘Oil Kills’ Climate Activists Block European Airports

Jul 24, 2024 at 09:05 | Charles Kennedy

A coordinated “Oil Kills” action of climate activists blocked on Wednesday airports across Europe, grounding flights and creating chaos amid the summer holidays, as campaigners demanded “an end to…

Iran Claims to Have Neutralized Impact of U.S. Sanctions on Condensate Exports

Iran Claims to Have Neutralized Impact of U.S. Sanctions on Condensate Exports

Jul 24, 2024 at 08:15 | Charles Kennedy

Iran has managed to neutralize the effect of the U.S.-led Western sanctions on its gas condensate exports, Iranian Petroleum Minister Javad Owji said on Wednesday. “I can dare say that…

Russia’s Novatek More Than Doubles First-Half Profit

Russia’s Novatek More Than Doubles First-Half Profit

Jul 24, 2024 at 07:42 | Charles Kennedy

Higher production boosted the first-half earnings of Russian gas producer and LNG exporter Novatek more than double compared to year-ago levels, despite lower sales volumes and struggles with its new…

Russia Could Ban Diesel Exports Again

Russia Could Ban Diesel Exports Again

Jul 24, 2024 at 06:45 | Tsvetana Paraskova

Russia is considering banning the export of diesel if prices rise further, Russian daily Kommersant reported on Wednesday, citing several sources. The Russian government could ban diesel exports if…

TC Energy Close to Selling Gas Pipeline Stake to Indigenous Groups

TC Energy Close to Selling Gas Pipeline Stake to Indigenous Groups

Jul 24, 2024 at 05:55 | Tsvetana Paraskova

Provincial government agency Alberta Indigenous Opportunities Corporation (AIOC) has given its “contingent approval” on a loan guarantee to an indigenous consortium to buy a stake in TC Energy’s NGTL natural…

UK Natural Gas Grid Ready to Accommodate Hydrogen

UK Natural Gas Grid Ready to Accommodate Hydrogen

Jul 24, 2024 at 04:52 | Tsvetana Paraskova

The UK’s natural gas network will be capable of accommodating hydrogen to supply it as fuel to households and industries, according to a report based on a trial by National…

India’s Top Private Refiner Gets U.S. License to Buy Venezuelan Crude

India’s Top Private Refiner Gets U.S. License to Buy Venezuelan Crude

Jul 24, 2024 at 03:42 | Tsvetana Paraskova

Despite the return of U.S. sanctions on Venezuela, India’s biggest private refiner, Reliance Industries, has obtained a U.S. license to buy crude from the South American country, sources with knowledge…

China and Russia Discuss High-Level Energy Cooperation

China and Russia Discuss High-Level Energy Cooperation

Jul 24, 2024 at 02:08 | Irina Slav

China and Russia have been discussing a high-level energy partnership that would benefit both countries, China’s Xinhua agency reported, citing a statement by Vice Premier Ding Xuexiang following…

China Natural Gas Consumption Expected to Rise by Up to 7.7% This Year

China Natural Gas Consumption Expected to Rise by Up to 7.7% This Year

Jul 24, 2024 at 01:05 | Irina Slav

China’s natural gas consumption is this year expected to be between 6.5% and 7.7% higher than last year’s, potentially reaching 425 billion cubic meters, Xinhua reported, citing data from…

U.S. Crude Oil Inventories Continue to Fall

U.S. Crude Oil Inventories Continue to Fall

Jul 23, 2024 at 15:49 | Julianne Geiger

Crude oil inventories in the United States fell again this week, this time by 3.9 million barrels for the week ending July 19, according to The American Petroleum Institute (API).…

Brazil's Oil Permitting Could Soon Resume

Brazil's Oil Permitting Could Soon Resume

Jul 23, 2024 at 14:07 | Julianne Geiger

Brazil's federal environment workers, represented by the union Ascema, have proposed a deal to end their strike that has hindered oil and gas project permits in the Amazon rainforest. The…

Algorithms Push Oil Prices to Five-Week Low

Algorithms Push Oil Prices to Five-Week Low

Jul 23, 2024 at 13:23 | Julianne Geiger

Oil prices dropped on Tuesday to their lowest point in five weeks, driven by a wave of algorithmic selling. The U.S. benchmark WTI has now dipped as…

Oil Sinks as Signs of Tepid Crude Demand in Asia Multiply

Oil Sinks as Signs of Tepid Crude Demand in Asia Multiply

Jul 23, 2024 at 10:28 | Tom Kool

A supertanker-load of one of the key North Sea crudes has recently sold in Asia at a very low price – below the spot North Sea price and below the…

Luxury Car Maker Rolls-Royce Posts Strong Results Despite Economic Challenges

Luxury Car Maker Rolls-Royce Posts Strong Results Despite Economic Challenges

Jul 23, 2024 at 09:42 | City A.M

Rolls-Royce Motor Cars saw its revenue accelerate to almost £1bn in 2023 as demand for personalised luxury vehicles continued across the world, it has been revealed.

Europe and China Remain the Biggest Buyers of Russian Pipeline Gas

Europe and China Remain the Biggest Buyers of Russian Pipeline Gas

Jul 23, 2024 at 09:06 | Charles Kennedy

Despite cutting off most European customers from its pipeline natural gas supply, Russia still sends nearly the same volumes of gas to Europe via pipelines as it does to its…

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