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News

Russia’s Gazprom Neft Expects Record Oil, Gas Production In 2021

Russia’s Gazprom Neft Expects Record Oil, Gas Production In 2021

Dec 09, 2021 at 10:11 | Tsvetana Paraskova

Gazprom Neft, the oil arm of Russian gas giant Gazprom, expects a record high oil and gas production this year, as demand recovers and OPEC+ eases the production cuts, the…

Biden Sets 2050 Net-Zero Target For The Federal Government

Biden Sets 2050 Net-Zero Target For The Federal Government

Dec 09, 2021 at 09:20 | Irina Slav

President Biden has signed an executive order seeking to make the federal government—and the U.S. economy as a whole—climate neutral by 2050 by supporting low-carbon electricity and EVs, as well…

Are Worker Bonuses Coming Back To The U.S. Oil Industry?

Are Worker Bonuses Coming Back To The U.S. Oil Industry?

Dec 08, 2021 at 17:34 | Julianne Geiger

The price of WTI has recovered 60% to $72.60 from just $45.52 a year ago. And such gains in oil prices could spark a resurgence in oil…

Record EU Carbon Prices Could Rally Further

Record EU Carbon Prices Could Rally Further

Dec 08, 2021 at 15:55 | Tsvetana Paraskova

EU climate rules and the use of more coal to replace natural gas at sky-high prices in power generation have resulted in a massive rally in the EU carbon price,…

Iceland Cuts Electricity To Crypto Miners Amid Power Crunch

Iceland Cuts Electricity To Crypto Miners Amid Power Crunch

Dec 08, 2021 at 14:39 | Charles Kennedy

Due to low hydropower generation, Iceland has seen a shortage of electricity supply in recent days to the point where its biggest utility curtailed power to some industrial activities, data…

Supply Bottlenecks Continue To Impact U.S. Car Sales

Supply Bottlenecks Continue To Impact U.S. Car Sales

Dec 08, 2021 at 14:30 | Metal Miner

Ford Motor Co. reported November U.S. sales increased by 5.9% year over year to 158,793 vehicles. Total truck sales increased by 4.6%. Meanwhile,…

Early Winter Disrupts Russia’s Black Sea Oil Exports

Early Winter Disrupts Russia’s Black Sea Oil Exports

Dec 08, 2021 at 13:09 | Charles Kennedy

Bad weather at Russia’s Black Sea port of Novorossiysk is delaying loadings and creating traffic congestion on the straits of the Black Sea leading to the Mediterranean, trading sources told…

Biden Administration Proposes Lower Biofuel Mandates For 2020

Biden Administration Proposes Lower Biofuel Mandates For 2020

Dec 08, 2021 at 10:33 | Charles Kennedy

The Environmental Protection Agency has proposed reducing the amount of biofuels that oil refiners are mandated to add to petroleum fuels in a bid to provide some breathing space to…

EIA Slashes 2021, 2022 Oil Demand Forecasts

EIA Slashes 2021, 2022 Oil Demand Forecasts

Dec 08, 2021 at 09:27 | Tsvetana Paraskova

Global oil demand could see downside risks due to the Omicron variant, the U.S. Energy Information Administration (EIA) said on Tuesday, slashing its world oil consumption forecasts for both 2021…

Surprise Crude Draw Sends Oil Prices Higher

Surprise Crude Draw Sends Oil Prices Higher

Dec 07, 2021 at 15:56 | Julianne Geiger

This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 3.089 million barrels. U.S. crude inventories have shed some 60 million barrels since the…

Houthis Claim Drone Attacks On Saudi Oil Facilities

Houthis Claim Drone Attacks On Saudi Oil Facilities

Dec 07, 2021 at 13:52 | Charles Kennedy

The Iran-aligned Houthi movement in Yemen targeted on Tuesday oil infrastructure and military compounds in Saudi Arabia with drones and ballistic missiles, the movement said today on its broadcast…

U.S. Coal Stockpiles In September Lowest Since At Least 2001

U.S. Coal Stockpiles In September Lowest Since At Least 2001

Dec 07, 2021 at 13:34 | Tsvetana Paraskova

U.S. coal stockpiles fell in September 2021 to the lowest level of total monthly coal stocks at the electric power sector since at least 2001, the Energy Information Administration (EIA)…

Russia Considers Allowing Rosneft To Export Gas To Europe

Russia Considers Allowing Rosneft To Export Gas To Europe

Dec 07, 2021 at 12:47 | Tsvetana Paraskova

The Russian government is considering the possibility to allow Russia’s largest oil producer, Rosneft, to export natural gas to Europe via pipeline, the Kremlin said on Tuesday—a move that could…

SPR Tender Attracts Two Foreign Bidders

SPR Tender Attracts Two Foreign Bidders

Dec 07, 2021 at 10:31 | Irina Slav

The tender of crude oil from the strategic petroleum reserve of the United States has attracted at least two foreign refiners as bidders, Bloomberg has reported, citing unnamed sources with…

Iraq Oil Minister Called Oil At $75

Iraq Oil Minister Called Oil At $75

Dec 07, 2021 at 09:46 | Charles Kennedy

Iraq's oil minister Ihsan Abdul-Jabbar expects crude oil to recover to $75 per barrel, Reuters has reported, citing an interview of Abdul-Jabbar for Iraqi state TV. Shortly after the…

Halliburton: Global Oil Scarcity Is On The Horizon

Halliburton: Global Oil Scarcity Is On The Horizon

Dec 06, 2021 at 17:23 | Julianne Geiger

The lack of investments into the oil industry is steering the world toward scarcity, one of the world’s largest oilfield service providers warned on Monday. A global oil scarcity is…

Banks Continue To Fund Fossil Fuels Despite Climate Pledges

Banks Continue To Fund Fossil Fuels Despite Climate Pledges

Dec 06, 2021 at 15:34 | Tsvetana Paraskova

Despite investor and societal pressure, banks worldwide continue to lend money and underwrite bonds issued by oil, gas, and coal companies, with bond deals in fossil fuels arranged by banks…

Germany: Nord Stream 2 Cannot Begin Operations Until Certified

Germany: Nord Stream 2 Cannot Begin Operations Until Certified

Dec 06, 2021 at 14:02 | Tsvetana Paraskova

The Russia-led Nord Stream 2 gas pipeline cannot start sending natural gas to Europe until it is certified by German authorities, which have suspended the certification process, according to Germany’s…

Energy Efficiency Needs To Speed Up To Meet Climate Goals

Energy Efficiency Needs To Speed Up To Meet Climate Goals

Dec 06, 2021 at 13:28 | Tsvetana Paraskova

Energy efficiency and ways to reduce emissions from buildings may be the cheapest way to lower carbon footprints and help reach climate goals, but the current pace of investments in…

EV Patents Surge As Net-Zero Push Accelerates

EV Patents Surge As Net-Zero Push Accelerates

Dec 06, 2021 at 12:30 | City A.M

The number of electric vehicle (EV) patents has gone up all across the world, while fossil fuel ones have registered a rapid decrease in the last five years…

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