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U.S. Senator Pushes for Ban on Chinese Electric Vehicles

U.S. Senator Pushes for Ban on Chinese Electric Vehicles

Senator Brown urges President Biden…

China Exports Gasoline Using Blockchain In Unprecedented Move

China Exports Gasoline Using Blockchain In Unprecedented Move

China’s Sinochem Energy Technology Co has…

News

Chevron-Hess Tie Up Could Drag Until Next Year Courtesy of Exxon

Chevron-Hess Tie Up Could Drag Until Next Year Courtesy of Exxon

Apr 12, 2024 at 13:13 | Julianne Geiger

Chevron’s acquisition of Guyana superstar Hess could be delayed until next year thanks to Exxon Mobil’s arbitration case, Hess said in a Friday securities filing. Hess said in the filing…

South Africa Seeks $21 Billion Funding for Major Grid Expansion

South Africa Seeks $21 Billion Funding for Major Grid Expansion

Apr 12, 2024 at 10:24 | Charles Kennedy

Eskom, the state-owned utility of South Africa, is holding talks with the government on ways to attract public and private financing of the equivalent of $21 billion for a major…

Europe’s Sustainable Fund Flows Grow as U.S. ESG Market Shrinks

Europe’s Sustainable Fund Flows Grow as U.S. ESG Market Shrinks

Apr 12, 2024 at 09:11 | Charles Kennedy

Investor appetite for ESG funds and other sustainable investments remains steady in Europe, in stark contrast with the United States, where the ESG backlash has had investors pull billions of…

China’s Crude Oil Imports Dropped by 6% Year-Over-Year in March

China’s Crude Oil Imports Dropped by 6% Year-Over-Year in March

Apr 12, 2024 at 07:42 | Tsvetana Paraskova

Chinese imports of crude oil fell in March by 6% compared to the same month last year as first-quarter crude imports were stable year-over-year amid high volumes of Russian crude…

IEA: Drone Attacks on Russian Refineries Could Upset Global Fuel Markets

IEA: Drone Attacks on Russian Refineries Could Upset Global Fuel Markets

Apr 12, 2024 at 07:02 | Tsvetana Paraskova

The drone attacks from Ukraine on Russian refineries could disrupt fuel markets globally, the International Energy Agency (IEA) said on Friday, estimating that up to 600,000 barrels per day (bpd)…

ADNOC Considered Buying Oil Giant BP

ADNOC Considered Buying Oil Giant BP

Apr 12, 2024 at 05:45 | Tsvetana Paraskova

Abu Dhabi National Oil Company (ADNOC) has recently weighed buying BP, but talks didn’t go far and ultimately the state firm of the United Arab Emirates decided not to pursue…

China Moves to Stabilize Long-Term Coal Supply and Prices

China Moves to Stabilize Long-Term Coal Supply and Prices

Apr 12, 2024 at 04:46 | Tsvetana Paraskova

China’s top economic planning body has finalized plans to create a reserve system for coal production by 2027 to avoid new shortages and ensure stable supply and prices.     …

Oil Prices Set for a Weekly Loss Due to Fears Interest Rates Will Remain High

Oil Prices Set for a Weekly Loss Due to Fears Interest Rates Will Remain High

Apr 12, 2024 at 03:55 | Irina Slav

After a string of gains, crude oil prices are set to end this week with a loss on worry that interest rates in key markets will remain high, dampening demand…

Secret Meeting Between Venezuela and the U.S. as Oil Sanctions Loom

Secret Meeting Between Venezuela and the U.S. as Oil Sanctions Loom

Apr 12, 2024 at 02:20 | Irina Slav

U.S. and Venezuelan government officials met secretly this week ahead of the expiry of oil sanction relief next week. The meeting, in Mexico City, discussed the possibility of reforms in…

Iran Will Seek to Avoid Escalation With Israel

Iran Will Seek to Avoid Escalation With Israel

Apr 12, 2024 at 02:05 | Irina Slav

Iran will respond to the Israeli attack on its consulate in Damascus in such a way as not to escalate the situation in the Middle East. This is the message…

Orlen Trading Switzerland Investigated for Possible Sanctions Breach

Orlen Trading Switzerland Investigated for Possible Sanctions Breach

Apr 11, 2024 at 15:03 | Julianne Geiger

Polish special services are currently investigating whether Orlen Trading Switzerland, a subsidiary of Polish refiner Orlen (PKN.WA), may have violated sanctions regarding the import of oil from Russia or Iran,…

European Gas Prices Soar As Russian Retribution Puts Kyiv in the Dark

European Gas Prices Soar As Russian Retribution Puts Kyiv in the Dark

Apr 11, 2024 at 12:13 | Charles Kennedy

European natural gas prices popped on Thursday amid Russia’s intensification of attacks on Ukrainian energy infrastructure, with Russia claiming to have destroyed Kyiv’s biggest power plant in an overnight missile…

Iran Strike Threat Hangs Over Inflation-Focused Oil Markets

Iran Strike Threat Hangs Over Inflation-Focused Oil Markets

Apr 11, 2024 at 10:41 | Charles Kennedy

German airline Lufthansa canceled flights to Tehran, and Russia advised its citizens not to travel to the Middle East on Thursday as Israel prepares for what it sees as an…

Texas Natural Gas Prices Are Negative As Drillers Chase Oil Sales

Texas Natural Gas Prices Are Negative As Drillers Chase Oil Sales

Apr 11, 2024 at 10:09 | Charles Kennedy

Natural gas prices at the Waha hub in the Permian basin in Texas slumped to a negative value of -$2.00 per million British thermal units (MMBtu) this week as the…

UK Confident Its Energy Demand Will Be Met at All Times This Summer

UK Confident Its Energy Demand Will Be Met at All Times This Summer

Apr 11, 2024 at 09:01 | Charles Kennedy

The UK’s gas transmission and electricity system operators are confident that Britain will have sufficient natural gas and power supply to meet demand at all times during the period from…

OPEC Oil Production Inched Higher in March

OPEC Oil Production Inched Higher in March

Apr 11, 2024 at 08:12 | Tsvetana Paraskova

OPEC’s crude oil production edged up by 3,000 barrels per day (bpd) in March compared to February as Iran and Saudi Arabia slightly boosted output while Iraq continued to produce…

European Parliament Endorses EU Electricity Market Reform

European Parliament Endorses EU Electricity Market Reform

Apr 11, 2024 at 07:09 | Tsvetana Paraskova

The European Parliament adopted on Thursday a proposed reform in the bloc’s electricity market to make power prices less dependent on volatile fossil fuel prices and accelerate the deployment…

Russia Claims Massive Strikes on Ukrainian Oil and Gas Sites

Russia Claims Massive Strikes on Ukrainian Oil and Gas Sites

Apr 11, 2024 at 06:46 | Tsvetana Paraskova

Russia has hit Ukrainian oil, gas, and power infrastructure with high-precision long-range weapons and drones on Thursday night, in response to Ukrainian drone strikes on Russian refining capacity, the Russian…

U.S. Imports of Mexican Crude Slump to Record Low

U.S. Imports of Mexican Crude Slump to Record Low

Apr 11, 2024 at 04:43 | Tsvetana Paraskova

As Mexico is slashing oil exports, U.S. imports of Mexican crude slumped last week to the lowest level on record, data from the Energy Information Administration (EIA) showed this…

Australia Joins the Global Subsidy Race to Promote Critical Industries

Australia Joins the Global Subsidy Race to Promote Critical Industries

Apr 11, 2024 at 03:29 | Irina Slav

Australia’s government has joined the United States and the European Union in a race to lure in more business from abroad, with a focus on transition-related industries such as solar…

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