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Anglo-American Pivots to Copper Amid BHP's Hostile Takeover Bid

Anglo-American Pivots to Copper Amid BHP's Hostile Takeover Bid

Anglo-American unveils a comprehensive plan…

EU Courts Kazakhstan and Uzbekistan for Critical Raw Materials

EU Courts Kazakhstan and Uzbekistan for Critical Raw Materials

Increased offshore exploration for rare…

News

UK Power Capacity Auction Sets Record Price in Tight Market

UK Power Capacity Auction Sets Record Price in Tight Market

Feb 28, 2024 at 07:05 | Tsvetana Paraskova

The UK’s capacity market auction for 2027-2028 – designed to pay power producers to provide additional capacity to the grid in times of high demand – cleared at a record-high…

Oman’s New Refinery Could Begin Processing Heavier Crude Soon

Oman’s New Refinery Could Begin Processing Heavier Crude Soon

Feb 28, 2024 at 06:19 | Tsvetana Paraskova

Oman’s new refinery could begin processing heavier crude grades by the end of the year after feasibility studies are completed, the refinery’s chief executive David Bird told

India’s Oil Supply From Russia Threatened by New U.S. Sanctions

India’s Oil Supply From Russia Threatened by New U.S. Sanctions

Feb 28, 2024 at 05:02 | Tsvetana Paraskova

Indian refiners are concerned that the latest U.S. sanctions against Russia could further impact their ability to import cheap Russian crude as freight rates are set to rise and dent…

The EU Has a Chance to Reach Its 2030 Wind Power Targets

The EU Has a Chance to Reach Its 2030 Wind Power Targets

Feb 28, 2024 at 03:41 | Tsvetana Paraskova

Thanks to rising investments and accelerated permitting, the European Union may have a chance to reach its 2030 wind power installation targets if it further speeds up capacity build-outs, sector…

China and Europe to Drive LNG Demand Growth This Year

China and Europe to Drive LNG Demand Growth This Year

Feb 28, 2024 at 02:18 | Irina Slav

China and Europe will lead the increase in demand for liquefied natural gas this year, a senior executive from TotalEnergies has forecast. "LNG has continued to grow, with China being…

Glencore May Snap Up Shell Oil Assets in Singapore

Glencore May Snap Up Shell Oil Assets in Singapore

Feb 28, 2024 at 01:13 | Irina Slav

Glencore may acquire Shell’s oil operations in Singapore after several previous candidates for the assets changed their minds about competing for them. This is according to unnamed sources who spoke…

OPEC+ Could Extend Output Cuts Through Year End

OPEC+ Could Extend Output Cuts Through Year End

Feb 27, 2024 at 16:08 | Julianne Geiger

OPEC+’s voluntary production cuts that were set to expire at the end of the first quarter could be extended through the end of the year, three OPEC+ sources told Reuters…

Chile Looks to New Tech to Bolster Natural Gas Production

Chile Looks to New Tech to Bolster Natural Gas Production

Feb 27, 2024 at 15:55 | Julianne Geiger

Chilean energy company Empresa Nacional del Petroleo, or ENAP, has signed a deal with California-based Upwing Energy—a gas tech innovation service company—to deploy a Subsurface Compressor System to enhance recoverability…

Surprise Crude Build Weighs on Oil

Surprise Crude Build Weighs on Oil

Feb 27, 2024 at 15:50 | Julianne Geiger

Crude oil inventories in the United States rose this week, by 8.428 million barrels for the week ending February 23, according to The American Petroleum Institute (API). The API reported…

Red Sea Disruptions set to Continue Throughout 2024

Red Sea Disruptions set to Continue Throughout 2024

Feb 27, 2024 at 11:56 | Julianne Geiger

Shipping giant Maersk is warning that container shipping through the Red Sea could continue to cause disruptions into the second half of the year, with the company expecting shipping delays…

U.S. Shale Drives Global Upstream M&A Value To Highest since 2017

U.S. Shale Drives Global Upstream M&A Value To Highest since 2017

Feb 27, 2024 at 10:35 | Charles Kennedy

The value of global upstream mergers and acquisitions has already hit this quarter the highest first-quarter level since 2017, driven by frenzied consolidation in the U.S. shale patch, analysts have…

Canada’s Oil and Gas Firms To Boost Upstream Capex To $30 Billion in 2024

Canada’s Oil and Gas Firms To Boost Upstream Capex To $30 Billion in 2024

Feb 27, 2024 at 10:25 | Tom Kool

Canada’s oil and natural gas sector is set to boost upstream capital expenditures to around US$30 billion (C$40.6 billion) in 2024, up slightly from an estimated actual investment of US$28.8…

EU Proposes Member States Maintain Measures to Reduce Natural Gas Demand

EU Proposes Member States Maintain Measures to Reduce Natural Gas Demand

Feb 27, 2024 at 09:24 | Tsvetana Paraskova

The European Commission proposed on Tuesday that EU member states continue taking voluntary measures to maintain a collective 15% gas demand reduction compared to the five-year average to March…

Europe’s Heat Pump Sales Drop for the First Time in a Decade

Europe’s Heat Pump Sales Drop for the First Time in a Decade

Feb 27, 2024 at 08:13 | Tsvetana Paraskova

Withdrawal of government support, lower natural gas prices, and high interest rates led to the first annual drop in European sales of heat pumps in a decade, data from the…

Energy Midstream Firm Delek Logistics Misses Earnings Estimates

Energy Midstream Firm Delek Logistics Misses Earnings Estimates

Feb 27, 2024 at 07:26 | Tsvetana Paraskova

Tennessee-based midstream energy master limited partnership Delek Logistics reported on Tuesday revenues and earnings per share for the fourth quarter that missed consensus estimates, due to higher interest expense and a…

New Expansion Project Could Give Qatar 25% Share of Global LNG Supply

New Expansion Project Could Give Qatar 25% Share of Global LNG Supply

Feb 27, 2024 at 04:39 | Tsvetana Paraskova

Qatar could squeeze out rival LNG supply, including from the current top exporter, the United States, and could end up controlling 25% of the global LNG supply by 2030 after…

Russia to Suspend Gasoline Exports From March

Russia to Suspend Gasoline Exports From March

Feb 27, 2024 at 03:13 | Irina Slav

Russia will suspend gasoline exports for six months beginning in March to ensure supply for the domestic market in peak demand season. The information comes from an unnamed source close…

Exxon and Chevron Lock Horns Over Guyana Stake

Exxon and Chevron Lock Horns Over Guyana Stake

Feb 27, 2024 at 02:15 | Irina Slav

Exxon and Chevron are discussing a potential acquisition by Exxon of Hess Corp’s stake in the Exxon-led oil operations off the coast of Guyana. Exxon claims it has the right…

Woodside Energy Expects a 50% Increase in LNG Demand by 2034

Woodside Energy Expects a 50% Increase in LNG Demand by 2034

Feb 27, 2024 at 00:58 | Irina Slav

Woodside Energy expects demand for liquefied natural gas to increase by 50% over the next ten years driven by Asia, Bloomberg has reported, citing chief executive Meg O’Neill.…

WTI Pops as Red Sea Shipping Echoes in Slumping European Diesel Supply

WTI Pops as Red Sea Shipping Echoes in Slumping European Diesel Supply

Feb 26, 2024 at 15:03 | Charles Kennedy

U.S. benchmark WTI oil prices gained over 2% on Monday amid the ongoing Red Sea shipping threat and European diesel demand before retracing some of those gains as Wall Street…

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