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Breaking News:

Asian Oil Imports Dropped in April

Carbon-Eating Bacteria May Hold The Key To Decarbonization

Carbon-Eating Bacteria May Hold The Key To Decarbonization

A U.S.-based biotechnology firm is…

What Does Billionaires Dominating Space Travel Mean for the World?

What Does Billionaires Dominating Space Travel Mean for the World?

Billionaires' ventures into space travel…

Israel Claims to Have Dealt a Serious Blow to Hezbollah

Israel Claims to Have Dealt a Serious Blow to Hezbollah

Israeli authorities claimed to have…

News

U.S. Increases Biofuel Blending Requirements

U.S. Increases Biofuel Blending Requirements

Jun 03, 2022 at 17:15 | Julianne Geiger

The EPA finalized U.S. biofuel blending requirements for 2020, 2021, and 2022, according to Bloomberg sources familiar with the plan. Laying out what is known as the Renewable Fuel Standard,…

Qatar LNG Output Falls As Desperate Market In Crisis Begs For More

Qatar LNG Output Falls As Desperate Market In Crisis Begs For More

Jun 03, 2022 at 13:20 | Julianne Geiger

LNG production in Qatar has fallen this year, even with increased calls for the fuel amid an energy crisis in Europe as the bloc attempts to wean itself off Russian…

Chevron CEO Says No New Refineries In U.S—Ever

Chevron CEO Says No New Refineries In U.S—Ever

Jun 03, 2022 at 13:13 | Julianne Geiger

Chevron CEO Mike Wirth’s view of U.S. refineries is that there will never be another new refinery building in the United States. High prices at the pump have triggered a…

Judge: U.S. Must Conduct Climate Review Of Leases Before Drilling Can Commence

Judge: U.S. Must Conduct Climate Review Of Leases Before Drilling Can Commence

Jun 03, 2022 at 12:46 | Julianne Geiger

The U.S. Department of the Interior must analyze the climate impacts of oil and gas leasing on 4 million acres of federal land spanning five states before drilling can commence,…

Switzerland Risks Power Shortages Next Winter

Switzerland Risks Power Shortages Next Winter

Jun 03, 2022 at 12:17 | Tsvetana Paraskova

Switzerland’s power supply remains uncertain for next winter and troubles with enough electricity capacity cannot be ruled out, the Swiss Federal Electricity Commission, Elcom, said in its annual news…

Ukraine Hikes Interest Rates To 25% To Boost Budget Revenues

Ukraine Hikes Interest Rates To 25% To Boost Budget Revenues

Jun 03, 2022 at 11:01 | City A.M

Ukraine’s central bank is considering bringing in extra import duty on non-critical imports, having hiked its main interest rate to a seven-year high. The country has…

Central U.S. May Face Power Outages During Peak Summer Demand

Central U.S. May Face Power Outages During Peak Summer Demand

Jun 03, 2022 at 10:46 | Charles Kennedy

Expectations of higher electricity demand this summer and possible supply reductions have raised concerns that the Midcontinent Independent System Operator (MISO) balancing authority could face tight reserve margins during peak…

EU Adopts Ban On Russian Seaborne Oil Imports, Cargo Insurance

EU Adopts Ban On Russian Seaborne Oil Imports, Cargo Insurance

Jun 03, 2022 at 10:30 | Tsvetana Paraskova

The European Union formally adopted on Friday the sixth package of sanctions against Russia, which includes a ban on seaborne Russian oil imports and a ban on maritime insurance…

Biden Set To Visit Saudi Arabia To Discuss High Oil Prices  

Biden Set To Visit Saudi Arabia To Discuss High Oil Prices  

Jun 03, 2022 at 10:09 | Tsvetana Paraskova

In a U-turn from his previous position on Saudi Arabia, U.S. President Joe Biden is set to visit the world’s top crude oil exporter later this month, as soaring oil…

Ukraine Could Shut Europe’s Largest Nuclear Power Plant If It Loses Control

Ukraine Could Shut Europe’s Largest Nuclear Power Plant If It Loses Control

Jun 03, 2022 at 09:15 | Charles Kennedy

If Ukraine loses operational control at Zaporizhzhia, the largest nuclear power plant in Europe, currently occupied by Russian forces, Kyiv would consider shutting down the power plant, Yuriy Boyko, an…

Brazil Moves Closer To Petrobras Privatization

Brazil Moves Closer To Petrobras Privatization

Jun 03, 2022 at 08:51 | Irina Slav

The Brazilian government is planning to move a step closer to the privatization of oil major Petrobras by including it in its privatization program, Reuters has reported, noting that analysts…

U.S. Economic Officials Says Biden Considering Oil & Tax Windfall Tax

U.S. Economic Officials Says Biden Considering Oil & Tax Windfall Tax

Jun 02, 2022 at 12:33 | Charles Kennedy

A White House economic advisor told a panel on Thursday that the Biden administration is now considering the U.S. congressional proposal that would place a windfall tax on…

Russia Claims Its Oil Production Will Rebound In June

Russia Claims Its Oil Production Will Rebound In June

Jun 02, 2022 at 11:48 | Tsvetana Paraskova

Russia is confident that it will be able to restore in June oil production lost in March and April, with this month seen as “maximum recovery relative to previous levels,”…

U.S. To Unveil Policy For Lowering Energy Use Of Crypto Mining

U.S. To Unveil Policy For Lowering Energy Use Of Crypto Mining

Jun 02, 2022 at 11:25 | Charles Kennedy

The Biden Administration is preparing a study on the energy consumption of crypto mining operations with the goal to issue policy recommendations on how miners could lower their energy use…

EU Greenlights Embargo On Seaborne Russian Oil

EU Greenlights Embargo On Seaborne Russian Oil

Jun 02, 2022 at 10:18 | Tsvetana Paraskova

European Union ambassadors approved on Thursday the proposed partial ban on Russian oil imports into the EU as part of a sanctions package that also aims to cut Russia off…

OPEC+ Endorses 648,000 Bpd Oil Production Hike In July

OPEC+ Endorses 648,000 Bpd Oil Production Hike In July

Jun 02, 2022 at 09:37 | Tsvetana Paraskova

OPEC+ decided on Thursday to ramp up its monthly oil production increase to nearly 650,000 barrels per day (bpd) as the group looks to compensate for falling production in its…

UK Approves Biggest North Sea Project In Decades 

UK Approves Biggest North Sea Project In Decades 

Jun 02, 2022 at 09:26 | Tsvetana Paraskova

UK authorities issued on Wednesday their final approval to Shell's Jackdaw gas field development in one of the biggest projects in the North Sea in recent decades as the government…

U.S. LNG Exports Stay Near Record Levels In May

U.S. LNG Exports Stay Near Record Levels In May

Jun 02, 2022 at 08:14 | Irina Slav

U.S. exports of liquefied natural gas remained close to record levels last month, at 7.29 million tons, or the second-highest since records of such exports began. According to Refinitiv Eikon…

Oil Prices Unmoved By Small Crude Draw

Oil Prices Unmoved By Small Crude Draw

Jun 01, 2022 at 15:49 | Julianne Geiger

Crude oil from the nation's Strategic Petroleum Reserves may be headed into commercial inventories, but the American Petroleum Institute (API) still reported a draw this week for crude oil of…

Windfall Tax To Cost UK-Focused Oil Firms More Than $3 Billion

Windfall Tax To Cost UK-Focused Oil Firms More Than $3 Billion

Jun 01, 2022 at 13:06 | Tsvetana Paraskova

The new windfall tax on profits of oil and gas companies in the UK is expected to cost the medium-sized North Sea-focused companies a total of $3.3 billion through 2025,…

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