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U.S. Shale Oil Production Growth Is Slowing Down

U.S. Shale Oil Production Growth Is Slowing Down

When the illusion of unending…

Europe Moves Forward with Major Hydrogen Projects

Europe Moves Forward with Major Hydrogen Projects

Large-scale hydrogen production schemes are…

Magnesium Battery Breakthrough Could Challenge Lithium-Ion Dominance

Magnesium Battery Breakthrough Could Challenge Lithium-Ion Dominance

Tohoku University researchers have developed…

News

Asian LNG Prices Soar on Fears of Wider Middle East Conflict

Asian LNG Prices Soar on Fears of Wider Middle East Conflict

Apr 17, 2024 at 03:42 | Tsvetana Paraskova

Spot LNG prices in Asia jumped to the highest level since the beginning of January amid concerns that the conflict in the Middle East could further escalate.   After lingering…

U.S. to Set Up Global Carbon Leakage Task Force

U.S. to Set Up Global Carbon Leakage Task Force

Apr 17, 2024 at 03:02 | Irina Slav

The U.S. federal government will create a special task force to deal with global carbon emissions from trade and manufacturing activities. The news came from John Podesta, the new U.S.…

The EU and U.S. Are Considering New Iran Sanctions

The EU and U.S. Are Considering New Iran Sanctions

Apr 17, 2024 at 01:28 | Irina Slav

The European Union and the United States are considering additional sanctions against Iran, with Reuters noting the move sought to discourage Israel from retaliation for this weekend missile…

U.S. Crude Inventories Grow But Gasoline, Distillates Fall

U.S. Crude Inventories Grow But Gasoline, Distillates Fall

Apr 16, 2024 at 15:52 | Julianne Geiger

Crude oil inventories in the United States rose this week by 4.09 million barrels for the week ending April 12, according to The American Petroleum Institute (API). Crude productions, including…

Traders Place Bets On $250 Oil

Traders Place Bets On $250 Oil

Apr 16, 2024 at 14:21 | Julianne Geiger

Oil traders were making big bets amid geopolitical uncertainties, Bloomberg data shows, as 3 million barrels worth of options contracts snapped up by speculators. While the move is largely seen…

Australian EVs Lag Hybrid Vehicle Sales

Australian EVs Lag Hybrid Vehicle Sales

Apr 16, 2024 at 13:31 | Julianne Geiger

Sales of hybrid vehicles in Australia are outpacing that of electric vehicles, a new report released Tuesday night showed. Hybrids outsold EVs three quarters in a row, with 95,129 vehicles…

China’s Crude Oil Imports Hit A Record High in 2023

China’s Crude Oil Imports Hit A Record High in 2023

Apr 16, 2024 at 10:16 | Tom Kool

China’s crude oil imports hit a record high in 2023, rising by 10% year-over-year and breaking the previous record from 2020 when the world’s top crude oil importer took advantage…

Nigeria Boosts Oil Reserves by 1 Billion Barrels

Nigeria Boosts Oil Reserves by 1 Billion Barrels

Apr 16, 2024 at 08:50 | Charles Kennedy

Nigeria’s crude oil reserves have increased by 1 billion barrels while natural gas reserves have jumped by 2.573 trillion cubic feet (TCF), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) 

Top Indian Refiner Seeks Buyers of U.S. Crude as Russian Shipments Rebound

Top Indian Refiner Seeks Buyers of U.S. Crude as Russian Shipments Rebound

Apr 16, 2024 at 08:16 | Tsvetana Paraskova

India’s largest private refiner, Reliance Industries, has sought to resell U.S. WTI crude within weeks of buying it, anonymous trading sources familiar with the matter told Bloomberg, as…

Russia’s Seaborne Crude Oil Exports Hit 11-Month High

Russia’s Seaborne Crude Oil Exports Hit 11-Month High

Apr 16, 2024 at 07:40 | Tsvetana Paraskova

Russia exported the highest level of oil from its ports in 11 months in the week to April 14, as export terminals likely shipped more crude that couldn’t be processed…

Germany’s Oil and Gas Production Continues to Drop

Germany’s Oil and Gas Production Continues to Drop

Apr 16, 2024 at 06:49 | Tsvetana Paraskova

German oil and gas production fell again in 2023 compared to 2022, industry association BVEG said on Tuesday, calling for increased domestic production to reduce dependence on more emissions-generating…

Fear of High Gasoline Prices May Deter Biden From Toughening Sanctions on Iran

Fear of High Gasoline Prices May Deter Biden From Toughening Sanctions on Iran

Apr 16, 2024 at 04:41 | Tsvetana Paraskova

The Biden Administration is unlikely to attempt to dramatically curtail Iranian oil exports after Iran’s attack on Israel, due to concerns about higher oil and gasoline prices in…

Mexico’s Presidential Hopeful Bets on Natural Gas and Solar

Mexico’s Presidential Hopeful Bets on Natural Gas and Solar

Apr 16, 2024 at 03:41 | Charles Kennedy

The frontrunner in Mexico’s next presidential elections, Claudia Sheinbaum, will invest billions in new natural gas generation capacity and solar power, Bloomberg has reported, citing a plan presented…

Oil Prices Rise as China’s Q1 Economic Growth Beats Expectations

Oil Prices Rise as China’s Q1 Economic Growth Beats Expectations

Apr 16, 2024 at 02:26 | Irina Slav

China’s first-quarter economic growth data is out and it’s an expectation beater. The country’s GDP grew at a rate of 5.3% during the first three months, versus Reuters…

U.S. Will Only Extend Venezuela Sanction Relief if Progress Is Made on Elections

U.S. Will Only Extend Venezuela Sanction Relief if Progress Is Made on Elections

Apr 16, 2024 at 01:39 | Charles Kennedy

The United States will only extend a sanction relief regime for Venezuela if the Maduro government makes progress on commitments undertaken last year to ensure fair elections. This is according…

Israeli War Cabinet Vows Response to Iran as Oil Prices Cool Down

Israeli War Cabinet Vows Response to Iran as Oil Prices Cool Down

Apr 15, 2024 at 12:31 | Charles Kennedy

Israel convened its war cabinet on Monday morning, vowing a response to what is being described as a direct attack on Israel, despite various reports suggesting that Iran coordinated its…

U.S. CO2 Emissions Down 17% Since 2005, Despite 2022 Increase

U.S. CO2 Emissions Down 17% Since 2005, Despite 2022 Increase

Apr 15, 2024 at 11:03 | Charles Kennedy

U.S. greenhouse gas emissions rose 1.3% in 2022, reflecting post-COVID economic recovery, but declined 17% since 2005, according to the Environmental Protection Agency’s (EPA) Annual US Greenhouse Gas Inventory (GHG…

Russia Is Bringing Back Refining Capacity Hit by Ukrainian Drones

Russia Is Bringing Back Refining Capacity Hit by Ukrainian Drones

Apr 15, 2024 at 10:05 | Charles Kennedy

Russia has brought back online some oil refining units in recent weeks, reducing the capacity taken offline by Ukrainian drone hits to around 10%, from 14% at the end of…

BP Cuts Jobs as Supermajor Scales Back EV Charging Unit

BP Cuts Jobs as Supermajor Scales Back EV Charging Unit

Apr 15, 2024 at 09:24 | Charles Kennedy

BP has cut over a tenth of its workforce in its EV charging business, BP Pulse, as the supermajor is downsizing the division and retreating from several countries to focus…

U.S. Congress to Vote on Further Iran Sanctions

U.S. Congress to Vote on Further Iran Sanctions

Apr 15, 2024 at 08:53 | Charles Kennedy

Following the Iranian drone attack against Israel this weekend, the U.S. House of Representatives is set to vote on Monday on several bills toughening sanctions on Iran, including one 

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