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News

EU Embargo On Russian Coal Goes Into Effect

EU Embargo On Russian Coal Goes Into Effect

Aug 11, 2022 at 08:28 | Tsvetana Paraskova

The European Union embargo on imports of coal from Russia went into effect on August 11, with no exemptions from now on. The EU agreed months ago, in April, to 

Falling Gasoline Prices Keep Inflation In Check

Falling Gasoline Prices Keep Inflation In Check

Aug 10, 2022 at 16:27 | Charles Kennedy

The U.S. Consumer Price Index (CPI) saw no real change in July, suggesting that inflation is easing as a result of falling gasoline prices, according to the latest…

French Nuclear Giant Sues Government For $8 Billion

French Nuclear Giant Sues Government For $8 Billion

Aug 10, 2022 at 14:26 | Charles Hugh Smith

French nuclear giant EDF, forced to sell power to competitors below market value, is now suing the French government for over $8 billion in compensation. 

U.S. Refiners See Demand Holding Strong Through Year-End

U.S. Refiners See Demand Holding Strong Through Year-End

Aug 10, 2022 at 14:24 | Tsvetana Paraskova

American refiners and oil and gas operators expect strong demand for fuels and energy through the remainder of the year, despite analyst concerns in recent weeks that demand could take…

U.S.-Europe Oil Tankers Hit Blowout Day Rates

U.S.-Europe Oil Tankers Hit Blowout Day Rates

Aug 10, 2022 at 14:21 | Charles Kennedy

Rates for mid-sized oil tankers sailing from the U.S. Gulf of Mexico to Europe hit the $57,000-per-day level this week, a figure representing a 12X increase since January…

Freeport LNG Retracts Force Majeure, Leaving Buyers On The Hook For $8 Billion

Freeport LNG Retracts Force Majeure, Leaving Buyers On The Hook For $8 Billion

Aug 10, 2022 at 12:59 | Julianne Geiger

The largest gas exporter in the United States, Freeport LNG, has retracted its force majeure, according to anonymous sources who shared the information with Reuters, leaving traders to source product…

Fitch: Global Coal Price Rally Could Last For Years

Fitch: Global Coal Price Rally Could Last For Years

Aug 10, 2022 at 12:08 | Charles Kennedy

The rally in coal prices, which began at the end of last year and intensified after the Russian invasion of Ukraine and the subsequent EU ban on Russian coal imports,…

Sky High Prices Cause Record-Breaking Energy Debt In The UK

Sky High Prices Cause Record-Breaking Energy Debt In The UK

Aug 10, 2022 at 10:57 | City A.M

Household energy debt is standing at an all-time high of £1.3bn ahead of expected bill hikes this autumn, according to new research from Uswitch, the comparison and switching…

OPEC’s Oil Exports Are Rising In August

OPEC’s Oil Exports Are Rising In August

Aug 10, 2022 at 10:41 | Charles Kennedy

Crude oil exports from OPEC producers rose by 223,000 barrels per day (bpd) in the first week of August, compared to the average shipments for the full month of July,…

Iran Nuclear Talks Move Close To Deal

Iran Nuclear Talks Move Close To Deal

Aug 10, 2022 at 08:57 | Irina Slav

The future of oil prices is on the table after the European Union moderators of the U.S.-Iran nuclear talks presented the two sides with a final version of the agreement…

Musk Sells Another $6.9 Billion In Tesla Shares

Musk Sells Another $6.9 Billion In Tesla Shares

Aug 10, 2022 at 08:34 | Charles Kennedy

Elon Musk has sold 7.92 million shares in Tesla, which made him about $6.88 billion richer, even though earlier this year, Musk said he had no plans for selling more…

Russia Set To Resume Pipeline Oil Exports Via Ukraine

Russia Set To Resume Pipeline Oil Exports Via Ukraine

Aug 10, 2022 at 08:32 | Tsvetana Paraskova

Russia is expected to resume oil exports to Europe via Ukraine today, after transit was halted on August 4 because of issues with payments of the transit fees for…

Pioneer CEO: New Tax Bill Could Put Small Drillers In Jeopardy

Pioneer CEO: New Tax Bill Could Put Small Drillers In Jeopardy

Aug 10, 2022 at 08:17 | Julianne Geiger

U.S. lawmakers’ proposal for a new minimum tax on corporations and methane emissions fees could squeeze small oil and gas companies, according to Pioneer’s CEO Scott Sheffield. The Inflation Reduction…

API Sees Another Surprise Build In Crude Inventories

API Sees Another Surprise Build In Crude Inventories

Aug 09, 2022 at 15:49 | Julianne Geiger

The American Petroleum Institute (API) reported a surprise build this week for crude oil of 2.156 million barrels, while analysts predicted a draw of 400,000 barrels. The build comes as…

EIA Lowers U.S. Oil Production Forecast

EIA Lowers U.S. Oil Production Forecast

Aug 09, 2022 at 13:56 | Julianne Geiger

The Energy Information Administration has lowered its forecast for crude oil production for this year and next, according to a new report. The Energy Information Administration (EIA) made several adjustments…

Germany May Consider Lifting Its Ban On Fracking Amid Energy Crisis

Germany May Consider Lifting Its Ban On Fracking Amid Energy Crisis

Aug 09, 2022 at 13:47 | Charles Kennedy

Debates in Germany have resurfaced over whether Europe's biggest economy—severely hit by low Russian pipeline gas supply—should consider lifting its ban on fracking, The Globe and Mail reports.  Fracking…

UK Plans On Power Outages This Winter

UK Plans On Power Outages This Winter

Aug 09, 2022 at 13:00 | Julianne Geiger

The UK is planning on running short on natural gas this coming winter, resulting in blackouts, according to Bloomberg sources familiar with the government’s plans—even with emergency coal-fired power plants…

Most U.S. Oil And Gas Firms At Risk Of Cyberattack: Study

Most U.S. Oil And Gas Firms At Risk Of Cyberattack: Study

Aug 09, 2022 at 11:21 | Charles Kennedy

Most U.S. oil and gas firms are exposed to risks of a cyber breach, a new study by cyber risk rating and monitoring company BreachBits showed on Tuesday. The…

UK’s Centrica Signs $8.5B Long-Term Deal To Import U.S. LNG  

UK’s Centrica Signs $8.5B Long-Term Deal To Import U.S. LNG  

Aug 09, 2022 at 11:16 | Tsvetana Paraskova

Centrica, the owner of British Gas, has signed a heads of agreement with U.S. firm Delfin Midstream to import LNG starting in 2026 from a planned floating LNG export facility…

German Energy Regulator Says Gas Conservation Could Work

German Energy Regulator Says Gas Conservation Could Work

Aug 09, 2022 at 10:33 | Irina Slav

The recently approved mechanism for reducing gas consumption across the European Union could stabilize energy prices and maybe even lower them, said the head of Germany's Federal Network Agency, the…

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