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News

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…

Power Prices In Europe Drop On Milder, Windier Weather

Power Prices In Europe Drop On Milder, Windier Weather

Jan 07, 2022 at 09:01 | Tsvetana Paraskova

Month-ahead power prices in Europe fell this week after weather forecasts signaled that warmer than usual and windier weather conditions would prevail in northwest Europe in the coming weeks. The…

Texas Clampdown On Disposal Wells Hits Oil Producers

Texas Clampdown On Disposal Wells Hits Oil Producers

Jan 07, 2022 at 07:59 | Charles Kennedy

Oil producers in some of the most prolific parts of the Permian could lose up to half of their wastewater disposal wells as the Texas Railroad Commission targets the quake-inducing…

IEA Will Soon Free All Its Energy Data

IEA Will Soon Free All Its Energy Data

Jan 06, 2022 at 16:49 | Julianne Geiger

If you’ve unlocked some recent International Energy Agency (IEA) data for a few thousand dollars, it could be the last time you are required to do so. The IEA is…

Qatar To Boost Public Spending On The Back Of Higher Oil And Gas Revenues

Qatar To Boost Public Spending On The Back Of Higher Oil And Gas Revenues

Jan 06, 2022 at 14:39 | Tsvetana Paraskova

Qatar, one of the largest exporters of liquefied natural gas (LNG) in the world, is expected to boost public spending this year on the back of higher oil and gas…

Rising LNG Demand From South Asia Worsens Global Gas Crisis

Rising LNG Demand From South Asia Worsens Global Gas Crisis

Jan 06, 2022 at 11:13 | Tsvetana Paraskova

Emerging economies in South and Southeast Asia are returning to the spot liquefied natural gas (LNG) market these days, despite the high prices of cargoes, creating additional gas demand globally…

Mexico’s Export Ban Will Squeeze Oil Hedge

Mexico’s Export Ban Will Squeeze Oil Hedge

Jan 06, 2022 at 10:01 | Irina Slav

Mexico’s decision to halve oil exports this year and suspend them all together in 2023 will affect its oil hedge—the biggest in the world—substantially, pushing oil prices higher. Bloomberg

Keystone Pipeline Shuts Down Amid Frigid Weather

Keystone Pipeline Shuts Down Amid Frigid Weather

Jan 06, 2022 at 09:21 | Irina Slav

TC Energy shut down the Keystone pipeline for several hours for unplanned maintenance as temperatures in the area of the Hardisty terminal were expected to drop to minus 35 Celsius.…

Oil CEO's: $100 Crude Is Bad For U.S. Shale

Oil CEO's: $100 Crude Is Bad For U.S. Shale

Jan 05, 2022 at 16:04 | Julianne Geiger

$100 oil isn’t necessarily a good thing for the U.S. shale oil industry, several U.S. oil industry executives said this week, according to Bloomberg. $100 oil could hurt the United…

ExxonMobil Announces Two New Oil Discoveries In Guyana

ExxonMobil Announces Two New Oil Discoveries In Guyana

Jan 05, 2022 at 15:38 | Charles Kennedy

ExxonMobil has made two more discoveries in the Stabroek block offshore Guyana, which add to the previously announced 10 billion oil-equivalent barrels recoverable resource estimate for the block, the U.S.…

India Looks To Attract Investors With New Steel Scheme

India Looks To Attract Investors With New Steel Scheme

Jan 05, 2022 at 15:28 | Metal Miner

India is trying to save some export bucks in the new year where specialty steel is concerned. In 2022, India plans to focus on increasing per…

Average Oil Price In 2021 Was The Highest In Past Three Years

Average Oil Price In 2021 Was The Highest In Past Three Years

Jan 05, 2022 at 14:30 | Charles Kennedy

A faster increase in global oil demand than growth in supply led to oil prices jumping last year, with the average Brent Crude price at $71 per barrel—the highest…

Clashes In Kazakhstan Over High Fuel Prices Continue

Clashes In Kazakhstan Over High Fuel Prices Continue

Jan 05, 2022 at 11:39 | Charles Kennedy

Unrest in oil and gas-rich Kazakhstan continued on Wednesday, even after the government resigned on Tuesday following protests over increased fuel prices. In a rare protest in tightly-controlled Kazakhstan—a major…

U.S. Overtakes Qatar To Become The World’s Largest LNG Exporter

U.S. Overtakes Qatar To Become The World’s Largest LNG Exporter

Jan 05, 2022 at 10:10 | Irina Slav

The United States became the world’s largest exporter of liquefied natural gas in December as deliveries of the superchilled fuel to energy-starved Europe surged. According to Bloomberg calculations, the…

White House Praises OPEC For Production Decision

White House Praises OPEC For Production Decision

Jan 05, 2022 at 09:25 | Irina Slav

The White House applauded OPEC+’s decision to continue adding 400,000 bpd to global supply next month as well, with Reuters reporting the administration cited “close” coordination with Saudi Arabia and…

Major Crude Draw Offset By Jump In Gasoline Stocks

Major Crude Draw Offset By Jump In Gasoline Stocks

Jan 04, 2022 at 16:04 | Julianne Geiger

This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 6.432 million barrels, after analysts predicted a much smaller 3.40 million barrel draw.…

EU Law Will Equip New Cars With A Device That Collects Driving Data

EU Law Will Equip New Cars With A Device That Collects Driving Data

Jan 04, 2022 at 12:53 | ZeroHedge

Starting this summer, all new cars sold in the EU will by law contain a ‘black box’ accessible by authorities that records driving data. From July 6, 2022,…

China Slashes Fuel Export Quotas By 56%

China Slashes Fuel Export Quotas By 56%

Jan 04, 2022 at 11:26 | Tsvetana Paraskova

China has considerably reduced the allowances for fuel exports in the first export quota batch for 2022, signaling its intention to limit fuel sales abroad and curb excessive refinery output. …

UK Households Face Steep Jump In Energy Prices

UK Households Face Steep Jump In Energy Prices

Jan 04, 2022 at 09:57 | Charles Kennedy

Households in the UK are facing much higher electricity prices as a result of the energy crunch, British media report, as the government prepares to adjust a cap on utility…

Germany Admits Need For Gas During Transition

Germany Admits Need For Gas During Transition

Jan 04, 2022 at 09:27 | Irina Slav

Germany will need natural gas throughout the energy transition to renewable sources, the new German government said this week. "We will need gas throughout the transitional phase," government spokesman Steffen Hebestreit said.…

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