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News

Some EU Members Ready To Veto Oil Embargo

Some EU Members Ready To Veto Oil Embargo

Apr 22, 2022 at 08:26 | Irina Slav

Some members of the European Union stand ready to veto any bloc-wide attempts to impose an oil embargo on Russia, Russia's TASS reported, citing an interview with the EU…

Yellen Warns EU About Banning Russian Oil

Yellen Warns EU About Banning Russian Oil

Apr 21, 2022 at 16:59 | Julianne Geiger

A full EU ban on Russian crude oil and gas imports could have unintended economic consequences for the United States and its Western allies, U.S. Treasury Secretary Janet Yellen told…

U.S. West Coast Imports More Gasoline Ahead Of Driving Season

U.S. West Coast Imports More Gasoline Ahead Of Driving Season

Apr 21, 2022 at 15:31 | Charles Kennedy

The U.S. West Coast is expected to import 120,000 barrels per day of gasoline and blending components for the remainder of this month, up from 95,000 bpd in…

Exxon Could Withdraw Completely From Russia Within Two Months

Exxon Could Withdraw Completely From Russia Within Two Months

Apr 21, 2022 at 15:28 | Tsvetana Paraskova

U.S. supermajor ExxonMobil, which joined other international majors in announcing withdrawal from Russian oil and gas projects, plans to shut down all its businesses in Russia by June 24, Reuters…

U.S. Administration Frees Up $385M To Help Households With Energy Bills

U.S. Administration Frees Up $385M To Help Households With Energy Bills

Apr 21, 2022 at 14:26 | Tsvetana Paraskova

The Biden Administration will release over $385 million to states to help Americans with their home energy costs through the Low Income Home Energy Assistance Program (LIHEAP), the White House…

India’s Coal Supply Shock Causes Major Power Outages

India’s Coal Supply Shock Causes Major Power Outages

Apr 21, 2022 at 12:55 | Charles Kennedy

The Indian states of Punjab, Uttar Pradesh and Andhra Pradesh have been forced into blackouts as of Thursday as power supplies are cut off due to a major…

Ukraine Pushes For Rerouting Of Nord Stream 1 Flows

Ukraine Pushes For Rerouting Of Nord Stream 1 Flows

Apr 21, 2022 at 11:14 | Irina Slav

Ukraine is lobbying with its Western allies for the redirection of Russian gas flows from the Nord Stream 1 pipeline to the pipeline that runs through its territory, Reuters has…

IEA: Drive And Fly Less, Work From Home To Cut Reliance On Russia 

IEA: Drive And Fly Less, Work From Home To Cut Reliance On Russia 

Apr 21, 2022 at 10:29 | Tsvetana Paraskova

Drive at lower speeds on highways, turn down the thermostat and use less air-conditioning, work from home, use public transport, and prefer trains to short-haul flights. These are some of…

Gasoline Prices And Presidential Approval Ratings Perfectly Linked

Gasoline Prices And Presidential Approval Ratings Perfectly Linked

Apr 21, 2022 at 09:14 | Charles Kennedy

Prices at the pump directly correlate with presidential approval ratings, the chief executive of FedEx told Fox News this week, citing a conversation he had with President Obama. Obama…

Germany To Drill For Gas In North Sea To Reduce Reliance On Russia

Germany To Drill For Gas In North Sea To Reduce Reliance On Russia

Apr 20, 2022 at 16:22 | Alex Kimani

In a concerted move to move away from its heavy reliance on Russia amid the Ukraine crisis, Germany authorities have finally given in and allowed gas drilling to…

U.S. Crude Futures Are Growing Increasingly Bullish

U.S. Crude Futures Are Growing Increasingly Bullish

Apr 20, 2022 at 15:30 | Alex Kimani

In yet another bullish indicator for U.S. oil markets, the price of  WTI crude oil futures for June settlement have notched $0.14 higher to settle at $102.19.

IMF Warns That Crypto Could Help Russia Skirt Sanctions

IMF Warns That Crypto Could Help Russia Skirt Sanctions

Apr 20, 2022 at 14:57 | City A.M

Crypto mining could enable sanctioned nations to evade punitive restrictions researchers the International Monetary Fund said. Sanctioned nations could monetize domestic energy supplies, which cannot be…

U.S. To Become World’s Top LNG Exporter This Year

U.S. To Become World’s Top LNG Exporter This Year

Apr 20, 2022 at 14:17 | Alex Kimani

Five years after the United States became a net exporter of natural gas on an annual basis, the country’s natural gas exports both…

U.S. Energy Exports Enjoy Record Week Amid Ukraine Crisis

U.S. Energy Exports Enjoy Record Week Amid Ukraine Crisis

Apr 20, 2022 at 13:48 | Alex Kimani

The U.S. exported the most oil and petroleum products in history last week as countries across the world continue to work to replace Russian supplies in the wake…

Germany Pledges To Halt All Russian Oil Imports By End Of Year

Germany Pledges To Halt All Russian Oil Imports By End Of Year

Apr 20, 2022 at 12:53 | Charles Kennedy

In Germany’s most definitive statement yet regarding Russian oil and gas imports, the German Foreign Minister has pledged that the country will cease importing Russian oil entirely by…

JPMorgan: World Urgently Needs Extra $1.3 Trillion Energy Investment

JPMorgan: World Urgently Needs Extra $1.3 Trillion Energy Investment

Apr 20, 2022 at 11:46 | Tsvetana Paraskova

Global energy demand will continue rising by 2030, which will necessitate an additional $1.3 trillion in investments in all forms of energy, including oil and gas, to avoid a…

EU Considers Higher Renewables Goal To Shift From Russian Energy

EU Considers Higher Renewables Goal To Shift From Russian Energy

Apr 20, 2022 at 11:28 | Tsvetana Paraskova

The European Commission is considering whether a 45-percent share of renewable energy by 2030 would be achievable for the European Union, up from a previous target of 40 percent, as…

Tougher Environmental Rules Snap Back In U.S. Oil Infrastructure Projects

Tougher Environmental Rules Snap Back In U.S. Oil Infrastructure Projects

Apr 20, 2022 at 10:30 | Charles Kennedy

President Biden has reintroduced stringent environmental assessment rules for any large-scale project, including pipelines and oil wells. Per an Associated Press report, this week saw the approval of a…

White House Earmarks $6 Billion To Extend Lives Of Nuclear Power Plants

White House Earmarks $6 Billion To Extend Lives Of Nuclear Power Plants

Apr 20, 2022 at 09:34 | Irina Slav

The Biden administration has earmarked some $6 billion to support nuclear power plants across the United States and extend their lives, the Department of Energy said in a press

Rosneft Holds Rare Firesale for 38 Million Barrels Of Crude

Rosneft Holds Rare Firesale for 38 Million Barrels Of Crude

Apr 20, 2022 at 08:59 | Tsvetana Paraskova

Rosneft is offering as many as 37.4 million barrels of the flagship Urals crude for May and June loadings, according to a tender document seen by Bloomberg—a sign that…

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