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The Cost Of Drilling Continues To Rise

The Cost Of Drilling Continues To Rise

The average cost of developing…

U.S. Shale Growth To Disappoint In 2023

U.S. Shale Growth To Disappoint In 2023

Although shale output is growing…

News

China’s President To Visit Saudi Arabia This Week

China’s President To Visit Saudi Arabia This Week

Dec 06, 2022 at 07:57 | Tsvetana Paraskova

Chinese President Xi Jinping will visit Saudi Arabia this week in a sign that the world’s top crude oil importer looks to further strengthen trade and investment relations with the…

G7 Price Cap Causes An Oil Tanker Traffic Jam In The Black Sea

G7 Price Cap Causes An Oil Tanker Traffic Jam In The Black Sea

Dec 06, 2022 at 03:37 | Tsvetana Paraskova

Many oil tankers have dropped anchor near the key Turkish straits connecting the Black Sea with the Mediterranean, waiting for clearance from Turkish authorities who now demand new proof of…

California Targets Oil Industry With Profit Cap

California Targets Oil Industry With Profit Cap

Dec 06, 2022 at 01:14 | Charles Kennedy

California legislators have tabled a bill aimed at extracting more money from oil companies who they blame for excessive gasoline prices in the state, local media report. Per the

Chevron To Take Over Venezuelan Oil Project This Week

Chevron To Take Over Venezuelan Oil Project This Week

Dec 06, 2022 at 01:01 | Charles Kennedy

Chevron will officially assume control of an oil project in Venezuela this week, Bloomberg has reported, citing unnamed sources. The supermajor will process heavy crude at the Petropiar facility,…

Russia Launches Fresh Attacks On Ukraine’s Energy Infrastructure

Russia Launches Fresh Attacks On Ukraine’s Energy Infrastructure

Dec 05, 2022 at 10:50 | Alex Kimani

After a brief hiatus, Ukrainian authorities report that Russia launched a new wave of missile airstrikes on Ukrainian cities on Monday in its…

China To Cut Gasoline and Diesel Retail Prices Amid Weaker Demand

China To Cut Gasoline and Diesel Retail Prices Amid Weaker Demand

Dec 05, 2022 at 10:26 | Alex Kimani

Chinese news agency, Xinhua, has reported that China's National Development and Reform Commission will cut gasoline and diesel prices by 440 yuan (about…

Russia To Sell Crude Oil And Oil Products To Pakistan At A Discount

Russia To Sell Crude Oil And Oil Products To Pakistan At A Discount

Dec 05, 2022 at 08:48 | Charles Kennedy

Russia has agreed to supply crude oil, diesel, and gasoline to Pakistan at discounts, Pakistan’s Minister of State for Petroleum, Musadik Malik, said on Monday.    Monday saw the…

Apple Ramps Up Efforts To Move Production Of Out China

Apple Ramps Up Efforts To Move Production Of Out China

Dec 05, 2022 at 08:04 | ZeroHedge

Apple has accelerated plans to shift some of its production outside of China, the Wall Street Journal reports, citing insiders.

UK’s Economy To Dip Into Recession This Winter

UK’s Economy To Dip Into Recession This Winter

Dec 05, 2022 at 07:54 | City A.M

The UK’s recession will officially begin this winter and is likely to last for most of next year, a closely watched survey out today suggests. S&P…

Russia Is Amassing A “Shadow Fleet” Of Oil Tankers

Russia Is Amassing A “Shadow Fleet” Of Oil Tankers

Dec 05, 2022 at 07:46 | ZeroHedge

In an effort to dull the effect of international restrictions on its oil sales, Russia has discretely assembled a "shadow fleet" of more than 100 tankers, according to…

Blinken: Moscow Not Interested In Diplomacy

Blinken: Moscow Not Interested In Diplomacy

Dec 05, 2022 at 07:43 | RFE/RL staff

  Washington sees no signs that Moscow is interested in talks on ending the war in Ukraine, U.S. Secretary of State Antony Blinken has said. "There's…

Italy Expects To Raise $4.2 Billion From Windfall Tax And Power Price Cap

Italy Expects To Raise $4.2 Billion From Windfall Tax And Power Price Cap

Dec 05, 2022 at 05:53 | Tsvetana Paraskova

The Italian government expects to raise around $4.2 billion (4 billion euros) from a new windfall tax on energy companies and a price cap on the electricity produced by coal,…

Russia-China Natural Gas Pipeline Hits Major Construction Milestone

Russia-China Natural Gas Pipeline Hits Major Construction Milestone

Dec 05, 2022 at 04:25 | Tsvetana Paraskova

A new Russia-China natural gas pipeline saw a major construction milestone crossed after a large tunnel on the Yangtze River was completed this weekend.   The tunnel in the river…

BP Is Betting Big On Green Hydrogen

BP Is Betting Big On Green Hydrogen

Dec 05, 2022 at 04:05 | Tsvetana Paraskova

UK supermajor BP sees low-carbon hydrogen as one of its key growth areas and is betting on green hydrogen to advance the energy transition and the decarbonization of energy-intensive industries,…

Price Cap On Russian Oil Comes Into Effect

Price Cap On Russian Oil Comes Into Effect

Dec 05, 2022 at 02:38 | Irina Slav

The price cap of $60 per barrel for Russian oil devised by the G7 and supported by the European Union comes into effect today, aiming to curb Russia’s revenues from…

Oil Prices Climb As China Continues To Ease Covid Restrictions

Oil Prices Climb As China Continues To Ease Covid Restrictions

Dec 05, 2022 at 01:35 | Charles Kennedy

Crude oil prices climbed on Monday morning as Chinese cities continue to relax Covid restrictions now in their third year under the government’s zero-Covid policy. However, reports of two…

India To Keep Purchasing Russian Oil After Sanctions Go Into Effect

India To Keep Purchasing Russian Oil After Sanctions Go Into Effect

Dec 02, 2022 at 14:22 | Julianne Geiger

India said that it would continue to purchase Russian crude oil even after the embargo and price cap go into effect on December 5, an official in the Indian Oil…

Lukoil Says Its Italian Refinery Will Continue Operations After EU Embargo

Lukoil Says Its Italian Refinery Will Continue Operations After EU Embargo

Dec 02, 2022 at 12:41 | Charles Kennedy

Lukoil, which owns a large refinery in Sicily in Italy, said on Friday that it is ready to ensure continued operations at the site after the EU embargo on…

Poland Approves $60 G7 Oil Price Cap

Poland Approves $60 G7 Oil Price Cap

Dec 02, 2022 at 12:15 | Julianne Geiger

Poland has agreed to a $60 price cap on Russian crude oil, Poland’s Ambassador to the EU, Andrzej Sados, said on Friday. The EU tentatively agreed on a $60 oil…

U.S. Natural Gas Futures Slip At The End Of The Week

U.S. Natural Gas Futures Slip At The End Of The Week

Dec 02, 2022 at 10:58 | Julianne Geiger

U.S. natural gas futures fell 2% on Friday on predictions that the weather over the next two weeks won’t be as cold as originally expected. Front-month Henry Hub natural gas…

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