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News

Two Libyan Ports Resume Operations After Protests Stopped Oil Loading

Two Libyan Ports Resume Operations After Protests Stopped Oil Loading

Sep 10, 2021 at 14:43 | Charles Kennedy

Two of Libya’s key oil export terminals have resumed loading crude on tankers, after protests had stopped operations earlier this week. The Es Sider and Ras Lanuf oil terminals resumed…

Protests Break Out in Europe As Electricity Prices Soar

Protests Break Out in Europe As Electricity Prices Soar

Sep 10, 2021 at 10:34 | Charles Kennedy

Depleted natural gas inventories and low wind speeds have led to a surge in electricity prices across Europe, putting pressure on governments as consumers protest against surging power bills ahead…

Will Private Equity Revive Venezuela's Troubled Oil Sector?

Will Private Equity Revive Venezuela's Troubled Oil Sector?

Sep 10, 2021 at 09:37 | Tsvetana Paraskova

Venezuela-based private equity firm Sucre Energy Group expects reforms aimed at attracting foreign investment to Venezuela’s capital-starved oil and gas industry to make the local energy market work for companies…

Gazprom Completes Construction Of Nord Stream 2 Gas Pipeline

Gazprom Completes Construction Of Nord Stream 2 Gas Pipeline

Sep 10, 2021 at 09:04 | Tsvetana Paraskova

Gazprom completed early on Friday construction of the Nord Stream 2 pipeline, the Russian gas giant said today, although gas flows on the controversial Russia-led pipeline cannot begin until Germany…

Democrat Clean Energy Program Doesn’t Include Natural Gas

Democrat Clean Energy Program Doesn’t Include Natural Gas

Sep 10, 2021 at 08:27 | Julianne Geiger

A fact sheet released by the Democrats on the Energy and Commerce Committee on Thursday included a plan to pay electric utilities to generate more power from clean sources. But…

Biden To Shift FERC Balance To Democrats

Biden To Shift FERC Balance To Democrats

Sep 09, 2021 at 15:37 | Charles Kennedy

Democrats will have nominated the majority of the five-member independent Federal Energy Regulatory Commission (FERC) if President Joe Biden’s nomination is confirmed by the Senate. President Biden announced on…

Exxon Makes 20th Significant Crude Discovery Off Guyana

Exxon Makes 20th Significant Crude Discovery Off Guyana

Sep 09, 2021 at 14:29 | Tsvetana Paraskova

ExxonMobil has made another oil discovery on the Stabroek Block offshore Guyana, its 20th significant crude discovery on the block, the U.S. supermajor and its partner on the block, Hess…

Study: World Must Keep Most Fossil Fuels In The Ground To Achieve Climate Goals

Study: World Must Keep Most Fossil Fuels In The Ground To Achieve Climate Goals

Sep 09, 2021 at 12:50 | Tsvetana Paraskova

Almost 60 percent of global crude oil and fossil methane gas reserves, plus 90 percent of coal reserves, should be kept in the ground if the world has a chance…

New York To Phase Out New Gasoline Car Sales By 2035 

New York To Phase Out New Gasoline Car Sales By 2035 

Sep 09, 2021 at 12:48 | Charles Kennedy

New York State will ban the sale of new fossil fuel-powered cars and trucks by 2035, after Governor Kathy Hochul signed legislation to set a goal that all passenger…

UK Power Prices Soar To Records On High Gas Price, Lack Of Wind

UK Power Prices Soar To Records On High Gas Price, Lack Of Wind

Sep 09, 2021 at 09:50 | Charles Kennedy

High natural gas prices and low wind speeds have created a perfect storm for the day-ahead power prices in the UK, which hit a new record on Wednesday, beating…

U.S. Imports Of Russian Oil Expected To Soar After Hurricane Ida

U.S. Imports Of Russian Oil Expected To Soar After Hurricane Ida

Sep 09, 2021 at 09:41 | Tsvetana Paraskova

The United States is set to import more Russian oil this month and next, sources familiar with the matter told Bloomberg, as American supply of medium sour crudes is…

Oil Companies Need To Plan For 50% Output Cuts: Carbon Tracker

Oil Companies Need To Plan For 50% Output Cuts: Carbon Tracker

Sep 09, 2021 at 08:36 | Irina Slav

Oil and gas companies need to start planning for production cuts of 50 percent and more by the 2030s. That is, if they want to become aligned with Paris Agreement…

Oil Holds Firm On Small Crude Inventory Draw

Oil Holds Firm On Small Crude Inventory Draw

Sep 08, 2021 at 15:55 | Julianne Geiger

The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 2.882 million barrels for the week ending September 3, bringing the total 2021 crude draw…

EIA Sees Not Much In The Way Of U.S. Oil Production Gains

EIA Sees Not Much In The Way Of U.S. Oil Production Gains

Sep 08, 2021 at 14:43 | Julianne Geiger

The Energy Information Administration has estimated that U.S. crude oil production isn’t going to see much of a rebound for the rest of the year, according to the latest Short…

Protests Stop Tanker From Loading At Libya’s Largest Oil Terminal

Protests Stop Tanker From Loading At Libya’s Largest Oil Terminal

Sep 08, 2021 at 14:22 | Tsvetana Paraskova

The relative stability of Libya’s crude oil production and exports from recent months could abruptly end after protests erupted at several key crude terminals, including one that prevented a tanker…

U.S. Gas Producers Prefer More Regulation To Methane Tax

U.S. Gas Producers Prefer More Regulation To Methane Tax

Sep 08, 2021 at 12:43 | Tsvetana Paraskova

The largest U.S. natural gas producers and associations are calling on U.S. Senate committees to reconsider a proposed tax on methane in an upcoming budget bill, arguing that direct…

Biden To Announce Target Of 45% Solar-Powered Electricity By 2050

Biden To Announce Target Of 45% Solar-Powered Electricity By 2050

Sep 08, 2021 at 12:40 | Tsvetana Paraskova

The Biden Administration is preparing to announce this week a goal of making solar energy account for as much as 45 percent of U.S. electricity generation by 2050, the New…

U.S. Natural Gas Prices Jump 8% On Tight Supply

U.S. Natural Gas Prices Jump 8% On Tight Supply

Sep 08, 2021 at 10:29 | Tsvetana Paraskova

After settling 3% lower on Tuesday, U.S. natural gas prices surged by 8% early on Wednesday to new multi-year highs amid tighter supply and low storage levels in view of…

California Warns Consumers To Use Less Power As Heatwave Nears

California Warns Consumers To Use Less Power As Heatwave Nears

Sep 08, 2021 at 09:24 | Charles Kennedy

The California Independent Systems Operator has issued a flex alert, urging consumers to reduce their electricity consumption today between 4 and 9 pm because of a supply shortage combined…

Aramco Wins Guyana Oil Tender

Aramco Wins Guyana Oil Tender

Sep 08, 2021 at 09:13 | Irina Slav

Saudi Aramco has won a tender for the purchase of crude oil from Guyana and will likely enter into a one-year deal for the marketing of the commodity, Reuters reports,…

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