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Easing Inflation Sparks Bullish Sentiment in Oil Markets

Easing Inflation Sparks Bullish Sentiment in Oil Markets

Easing Inflation Sparks Bullish Sentiment…

Asian Refiners Diversify Away from Middle Eastern Oil

Asian Refiners Diversify Away from Middle Eastern Oil

Asian refiners are reducing their…

News

Bill Gates-Backed Firm Raises $750M To Develop Small Nuclear Reactors

Bill Gates-Backed Firm Raises $750M To Develop Small Nuclear Reactors

Aug 15, 2022 at 11:28 | Tsvetana Paraskova

TerraPower, a company working on small-scale nuclear reactor development backed by Bill Gates, has raised $750 million in investment, including from South Korea's second-largest conglomerate, to pursue its plan to…

Kosovo Limits Electricity Distribution Due To High Import Costs

Kosovo Limits Electricity Distribution Due To High Import Costs

Aug 15, 2022 at 10:11 | RFE/RL staff

Kosovo's electricity distribution company KEDS says it will limit the power supply to customers from August 15 due to flagging local production and the high cost of importing…

Gasoline Prices Could Climb As Demand Destruction Fears Evaporate

Gasoline Prices Could Climb As Demand Destruction Fears Evaporate

Aug 15, 2022 at 10:07 | Michael Kern

Despite a ninth consecutive week of falling gasoline prices in the United States, the streak of declines could soon see its end as wholesale gasoline prices have rebounded…

Saudi Prince Made Huge Bets On Russian Energy Around Start Of Ukraine War

Saudi Prince Made Huge Bets On Russian Energy Around Start Of Ukraine War

Aug 15, 2022 at 09:15 | Charles Kennedy

One of Saudi Arabia’s wealthiest men has been investing in Russian energy companies, Reuters reported, citing a tweet by Kingdom Holding, a Saudi business majority owned by Prince Alwaleed…

Aramco Q2 Profit Soars 90% On Higher Oil Prices

Aramco Q2 Profit Soars 90% On Higher Oil Prices

Aug 15, 2022 at 08:10 | Irina Slav

Saudi Aramco reported a net profit of $48.4 billion for the second quarter of the year, a record figure and a 90-percent increase on the year thanks to stronger oil…

Gulf Of Mexico Pipelines Could Restart Today

Gulf Of Mexico Pipelines Could Restart Today

Aug 12, 2022 at 12:33 | Charles Kennedy

Gulf of Mexico offshore oil producers are working to restart output after damages to a pipeline halted operations at seven platforms, with Reuters…

Gulf Of Mexico Oil Outages Balloon Beyond Shell

Gulf Of Mexico Oil Outages Balloon Beyond Shell

Aug 12, 2022 at 11:17 | Julianne Geiger

At least two other oil majors shuttered their Gulf of Mexico platforms on Friday following a leak in the Fourchon booster station, shutting down the flow of crude through the…

Nord Stream Gas Flows Drop On Friday Afternoon

Nord Stream Gas Flows Drop On Friday Afternoon

Aug 12, 2022 at 10:43 | Charles Kennedy

Physical natural gas flows on the Nord Stream pipeline from Russia to Germany dropped to 13 million kWh/h on early Friday afternoon in Europe, data from Nord Stream showed.…

Major Petroleum Corridor At Risk Of Closure Due To Low Water Levels

Major Petroleum Corridor At Risk Of Closure Due To Low Water Levels

Aug 12, 2022 at 08:39 | Tsvetana Paraskova

Europe’s supply of fuels such as coal and petroleum products faces further disruptions in the coming days as the water levels on the Rhine River—a key waterway for…

Chinese Oil Giants Sinopec And PetroChina To Delist From NYSE

Chinese Oil Giants Sinopec And PetroChina To Delist From NYSE

Aug 12, 2022 at 07:59 | Tsvetana Paraskova

Chinese state-controlled oil giants Sinopec and PetroChina said on Friday that they intended to delist from the New York Stock Exchange, along with two other state-held firms.  

Europe’s Newest Gas Pipeline Could Come Online Within 9 Months

Europe’s Newest Gas Pipeline Could Come Online Within 9 Months

Aug 12, 2022 at 07:52 | Tsvetana Paraskova

Another natural gas pipeline could soon become operational in Europe to connect Spain and France, and the new link could start operations in around nine months, according to…

Kazakhstan To Reroute Oil Flow From Caspian Pipeline

Kazakhstan To Reroute Oil Flow From Caspian Pipeline

Aug 12, 2022 at 07:48 | Charles Kennedy

Kazakhstan will re-route some of its export oil to a pipeline in Azerbaijan as the Caspian Pipeline Consortium channel remains at risk of further suspensions, Reuters has

Goldman Sees $5 Gasoline, $130 Brent By Year End

Goldman Sees $5 Gasoline, $130 Brent By Year End

Aug 11, 2022 at 17:29 | Julianne Geiger

The price of retail gasoline just dipped below $4 per gallon, AAA data showed on Thursday, but prices could rise to $5 per gallon by the end of the year,…

Shell Halts Oil Output At Three Gulf Of Mexico Platforms

Shell Halts Oil Output At Three Gulf Of Mexico Platforms

Aug 11, 2022 at 14:58 | Julianne Geiger

Shell has halted production at three of its deepwater platforms in the Gulf of Mexico, Shell said in a statement to Reuters on Thursday. Shell has halted production at its…

IEA: Russian Oil Output Resilient, But Could Drop With EU Embargo

IEA: Russian Oil Output Resilient, But Could Drop With EU Embargo

Aug 11, 2022 at 14:05 | Charles Kennedy

Russian oil production and exports have been holding resilient in recent months, with much smaller declines than initially expected, the International Energy Agency (IEA) said on Thursday. But the…

China Heralds Another Major Oil Discovery

China Heralds Another Major Oil Discovery

Aug 11, 2022 at 13:59 | Charles Kennedy

China’s state-run China Petrochemical Group, Sinopec, says it has discovered a massive oilfield in the Tarim Basin, containing 1.7 billion tons of oil reserves.  The discovery…

UK Energy Firms Meet With Govt Ahead Of Winter Bills Shock

UK Energy Firms Meet With Govt Ahead Of Winter Bills Shock

Aug 11, 2022 at 12:58 | Tsvetana Paraskova

Major UK energy providers met with the government on Thursday to discuss ways to alleviate the cost pressures on households who are seeing soaring energy and gas bills, and those…

OPEC’s Oil Production Rises But Still Well Below OPEC+ Target

OPEC’s Oil Production Rises But Still Well Below OPEC+ Target

Aug 11, 2022 at 10:26 | Tsvetana Paraskova

OPEC’s total crude oil production rose by 216,000 barrels per day (bpd) in July compared to June, but combined production from the 10 OPEC members part of the OPEC+…

Former UK PM Calls For Energy Utility Nationalization

Former UK PM Calls For Energy Utility Nationalization

Aug 11, 2022 at 09:55 | Irina Slav

A former British Prime Minister has called for the nationalization of energy utilities that cannot offer their customers lower electricity prices. In an op-ed for The Guardian, Gordon Brown…

Alberta Oil Output Hits Record High

Alberta Oil Output Hits Record High

Aug 11, 2022 at 08:43 | Irina Slav

Crude oil production in Alberta reached a record high in the first half of the year, at 3.6 million bpd, which was 100,000 bpd higher than the average output for…

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