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Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Despite Congress passing new sanctions…

How Long Will the Gold Rally Last?

How Long Will the Gold Rally Last?

Precious metal prices surge, particularly…

News

Saudi Aramco Buys Stake In Refinery In Russia’s Backyard

Saudi Aramco Buys Stake In Refinery In Russia’s Backyard

Jan 12, 2022 at 13:00 | Charles Kennedy

Saudi Arabia is expanding its downstream presence and crude customers in Eastern Europe, traditionally Russia’s backyard, by buying a stake in a Polish refinery. Saudi oil giant Aramco has signed…

The U.S. Spent $1.1B On Failed Carbon Capture Projects In A Decade

The U.S. Spent $1.1B On Failed Carbon Capture Projects In A Decade

Jan 12, 2022 at 10:26 | Tsvetana Paraskova

The U.S. Department of Energy has spent $1.1 billion on 11 carbon capture projects at coal-fired power plants and industrial facilities since 2009, most of which turned out to be…

One Of Oil’s Biggest Purchasers Is Moving Up Net-Zero Targets

One Of Oil’s Biggest Purchasers Is Moving Up Net-Zero Targets

Jan 12, 2022 at 08:57 | Tsvetana Paraskova

Container shipping giant A.P. Moller-Maersk, a major consumer of oil products, pledged on Wednesday to reach net-zero greenhouse gas emissions across its entire business by 2040, a decade earlier…

Coal To Make Up 85% Of U.S. Power Capacity Retirements In 2022

Coal To Make Up 85% Of U.S. Power Capacity Retirements In 2022

Jan 12, 2022 at 07:45 | Tsvetana Paraskova

Retirements of coal-fired electric power generation capacity are set to speed up this year from a relatively low level of retirements in 2021 to the point of accounting for as…

API Shocks With Very Large Gasoline Build

API Shocks With Very Large Gasoline Build

Jan 11, 2022 at 15:47 | Julianne Geiger

This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 1.077 million barrels, after analysts predicted a draw of 1.95 million barrels. U.S. crude…

Libya Struggles To Restore Oil Supply Despite End Of Three-Week Blockade

Libya Struggles To Restore Oil Supply Despite End Of Three-Week Blockade

Jan 11, 2022 at 13:47 | Charles Kennedy

Libya’s National Oil Corporation (NOC) has lifted the force majeure on crude exports from its western ports after militias ended a three-week-long blockade, but supply from the country is struggling…

Saudi Aramco Is Fighting To Regain A Key European Market

Saudi Aramco Is Fighting To Regain A Key European Market

Jan 11, 2022 at 13:07 | Cyril Widdershoven

In a move to regain some of its former glory in the North West European crude oil and products market, Saudi Aramco Trading Company (ATC) has clinched a…

China Boosts Imports Of Cheap Oil From Sanctioned Iran And Venezuela

China Boosts Imports Of Cheap Oil From Sanctioned Iran And Venezuela

Jan 11, 2022 at 13:02 | Tsvetana Paraskova

Cheaper crude from Iran and Venezuela while international oil benchmarks were rallying was incentive enough for the world's top oil importer, China, to purchase in 2021 the most crude from…

Kazakhstan’s Oil Output To Return To Pre-Unrest Level Within Days

Kazakhstan’s Oil Output To Return To Pre-Unrest Level Within Days

Jan 11, 2022 at 11:33 | Tsvetana Paraskova

Kazakhstan’s daily oil production is expected to return to pre-unrest levels by the end of this week, as Chevron has started to gradually restore the curtailed output, advanced oil data…

Coal Prices Dive As Indonesia Signals Easing Of Export Ban

Coal Prices Dive As Indonesia Signals Easing Of Export Ban

Jan 11, 2022 at 10:45 | Irina Slav

Benchmark Chinese coal prices fell to the lowest since the start of the year this week, after Indonesia allowed some coal cargos to leave its ports in a signal that…

UK Energy Supplier: Cuddle Your Pet To Lower Your Bill

UK Energy Supplier: Cuddle Your Pet To Lower Your Bill

Jan 11, 2022 at 09:04 | Charles Kennedy

Europe might be in the midst of an energy crisis, but one UK energy supplier has a potential solution: cuddle your pet for warmth. Ovo Energy, one of the largest…

Kuwait's Oil Wealth Fund Looks To Be Entirely ESG Compliant

Kuwait's Oil Wealth Fund Looks To Be Entirely ESG Compliant

Jan 10, 2022 at 15:38 | Charles Kennedy

Kuwait Investment Authority, the sovereign wealth fund of one of OPEC's largest producers, aims to ultimately make its portfolio 100-percent compliant with environmental, social, and governance (ESG) principles, the fund's…

Libya’s Crude Exports Slump As Bad Weather Shuts Four Oil Ports

Libya’s Crude Exports Slump As Bad Weather Shuts Four Oil Ports

Jan 10, 2022 at 13:46 | Tsvetana Paraskova

Just as Libya partially recovered its oil production, bad weather forced the closure of four oil export terminals in the east—a sign that Libya’s crude exports in January will be…

Europe’s Gas Prices Rise On Muted Russian Supply, Cold Weather

Europe’s Gas Prices Rise On Muted Russian Supply, Cold Weather

Jan 10, 2022 at 13:02 | Tsvetana Paraskova

Europe’s natural gas prices rose again on Monday as extra supply from Russia continues to be limited, while colder temperatures point to higher demand later this week.   Natural gas…

U.S. Emissions Jumped In 2021 As Coal Power Generation Surged

U.S. Emissions Jumped In 2021 As Coal Power Generation Surged

Jan 10, 2022 at 11:53 | Tsvetana Paraskova

U.S. economy-wide emissions jumped last year from the low levels in 2020 due to the COVID lockdowns, largely because of soaring coal-fired power generation in America, independent research provider Rhodium…

Mexico Slashes Pemex Debt By $3.2 Billion

Mexico Slashes Pemex Debt By $3.2 Billion

Jan 10, 2022 at 10:17 | Charles Kennedy

Mexico has reduced the debt burned of state-owned oil major Pemex by as much as $3.2 billion through a refinancing operation, Bloomberg reports, citing a statement by the Mexican…

Turkmenistan To Close

Turkmenistan To Close "Gates Of Hell" Gas Fire

Jan 10, 2022 at 09:24 | Irina Slav

Turkmenistan's president has ordered the government to find a way to extinguish a colossal gas fire burning since the 1970s. Dubbed the "Gates of Hell," the fire was rumored to…

Higher Natural Gas Prices Push Up U.S. Wholesale Electricity Prices

Higher Natural Gas Prices Push Up U.S. Wholesale Electricity Prices

Jan 07, 2022 at 14:21 | Tsvetana Paraskova

Rising fuel costs, especially those of natural gas, drove up wholesale electricity prices in all U.S. regions in 2021, the Energy Information Administration (EIA) said in an analysis on…

Dutch Plan To Boost Gas Output At Earthquake-Prone Site Sparks Anger

Dutch Plan To Boost Gas Output At Earthquake-Prone Site Sparks Anger

Jan 07, 2022 at 14:08 | Charles Kennedy

Residents in the Groningen area in the Netherlands have voiced their anger at a plan by the Dutch government to potentially double this year production from the Groningen gas field,…

First Green Quantitative Easing Of A Central Bank Fails To Work As Planned

First Green Quantitative Easing Of A Central Bank Fails To Work As Planned

Jan 07, 2022 at 10:40 | Tsvetana Paraskova

The Bank of England, which became in November 2021 the first central bank to adopt green criteria when buying corporate bonds under quantitative easing programs, is way off its targets…

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