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News

Exxon Plans Additional Job Cuts

Exxon Plans Additional Job Cuts

Jun 22, 2021 at 08:58 | Irina Slav

Exxon has plans to reduce its office employee count in the United States by between 5 and 10 percent over the next three to five years, Bloomberg has…

Texas Power Companies Take Over Smart Thermostats To Save Electricity

Texas Power Companies Take Over Smart Thermostats To Save Electricity

Jun 22, 2021 at 08:42 | ZeroHedge

Have a smart thermostat at home? Better keep an eye on it - especially if you live in Texas. That's because some residents of the Lone…

India’s Largest Utility Provider Sets Ambitious Renewable Energy Goal

India’s Largest Utility Provider Sets Ambitious Renewable Energy Goal

Jun 21, 2021 at 17:21 | Josh Owens

NTPC Limited, the biggest utility in India which generates much of the power from coal, is almost doubling its target for installed renewables capacity by 2032, the company said at…

China Launches A Crude Oil Options Contract For Foreign Traders

China Launches A Crude Oil Options Contract For Foreign Traders

Jun 21, 2021 at 15:40 | Michael Kern

The Shanghai International Energy Exchange (INE) launched on Monday a crude oil options contract open to foreign traders as part of a plan to boost China’s pricing power in…

Top Offshore Wind Firm: Big Oil’s Foray Into Green Energy Could Hike Prices

Top Offshore Wind Firm: Big Oil’s Foray Into Green Energy Could Hike Prices

Jun 21, 2021 at 12:56 | Tsvetana Paraskova

The biggest developer of offshore wind farms in the world, Denmark-based Ørsted, is concerned that the race of the biggest oil companies to enter offshore wind could lead to spikes…

Venezuela Claims It Can Quadruple Its Oil Production By The End Of 2021

Venezuela Claims It Can Quadruple Its Oil Production By The End Of 2021

Jun 21, 2021 at 12:07 | Tsvetana Paraskova

Venezuela is investing in crude oil production recovery and aims to boost its output four times by the end of the year, to 1.5 million barrels per day (bpd), Oil…

Crude Oil Imports At China’s Private Refiners Set To Plunge This Autumn

Crude Oil Imports At China’s Private Refiners Set To Plunge This Autumn

Jun 21, 2021 at 11:01 | Tsvetana Paraskova

China has slashed by 35 percent the crude import quotas for its independent refiners in the second batch of oil buying authorizations this year, suggesting that Chinese teapots will import…

Iran Nuclear Plant Shuts Down

Iran Nuclear Plant Shuts Down

Jun 21, 2021 at 09:34 | Charles Kennedy

Iran's only nuclear power plant was shut down this weekend in an emergency move that Iranian media reported on but provided no details. The Associated Press wrote, citing an…

Democrats Increasingly Oppose Idea Of U.S. Gas Tax Increase

Democrats Increasingly Oppose Idea Of U.S. Gas Tax Increase

Jun 18, 2021 at 16:59 | Charles Kennedy

Democrats in Washington have become opponents of a possible gas tax increase to pay for the infrastructure bill as the Biden Administration is vowing not to raise the tax burden…

Venezuela’s Maduro Pleads For Deal With U.S. Administration

Venezuela’s Maduro Pleads For Deal With U.S. Administration

Jun 18, 2021 at 14:38 | Tsvetana Paraskova

Venezuela’s Nicolas Maduro has been waiting for the Biden Administration to negotiate a deal that would bring relief to the U.S. sanctions on the country holding the world’s largest oil…

Canada Oil Pipeline Companies Throw Money At Energy Transition

Canada Oil Pipeline Companies Throw Money At Energy Transition

Jun 18, 2021 at 13:30 | Charles Kennedy

Canadian pipeline operators have just announced plans to develop a massive carbon transportation and sequestration system, weeks after the largest oil sands producers formed a collaboration initiative to achieve net-zero…

China Looks To Crack Down On Speculation As Coal Prices Break Records

China Looks To Crack Down On Speculation As Coal Prices Break Records

Jun 18, 2021 at 10:16 | Tsvetana Paraskova

China is looking to put soaring coal prices under control by starting an investigation into the market and coal prices to prevent speculation and hoarding of supply. Chinese state planner,…

U.S. Needs Nuclear Power To Hit Climate Targets: Granholm

U.S. Needs Nuclear Power To Hit Climate Targets: Granholm

Jun 18, 2021 at 10:12 | Charles Kennedy

Nuclear power is an indispensable part of the Biden administration's plan to reduce carbon dioxide emissions by 52 percent over the next ten years, Energy Secretary Jennifer Granholm said at…

Commodities To See Worst Week Since Start Of Pandemic

Commodities To See Worst Week Since Start Of Pandemic

Jun 18, 2021 at 09:15 | MINING.com

Copper prices are headed for their worst week in a year, gold crashed through…

EU Likely To Make Green Bond Standard Voluntary

EU Likely To Make Green Bond Standard Voluntary

Jun 17, 2021 at 17:27 | Tsvetana Paraskova

The European Union considers making the upcoming EU Green Bond Standard not compulsory, but only voluntary for issuers of such bonds, Bloomberg reported on Thursday, quoting a draft EU…

U.S. Shale Set For Record $30 Billion Free Cash Flow In 2021

U.S. Shale Set For Record $30 Billion Free Cash Flow In 2021

Jun 17, 2021 at 15:34 | Tsvetana Paraskova

U.S. shale producers are expected to generate a combined $30 billion in free cash flow in 2021 amid disciplined capital spending and higher oil prices, estimates from Bloomberg Intelligence…

Bottleneck At Crucial Chinese Port Could Cause Trouble For Oil Shipping

Bottleneck At Crucial Chinese Port Could Cause Trouble For Oil Shipping

Jun 17, 2021 at 13:20 | Charles Kennedy

A major bottleneck at a Chinese port is creating additional disruption to supply chains and global trade, two months after the Suez Canal blockage disrupted global shipping, including oil cargo…

Jeff Bezos-Backed Company To Build Fusion Plant In UK

Jeff Bezos-Backed Company To Build Fusion Plant In UK

Jun 17, 2021 at 10:38 | Irina Slav

Canadian General Fusion, a company backed by Amazon, is set to build a demonstration nuclear fusion reactor in Oxfordshire, the BBC reports, adding the facility will be 70 percent the…

Massive China Hydropower Plant Begins Full Operation

Massive China Hydropower Plant Begins Full Operation

Jun 17, 2021 at 09:36 | Charles Kennedy

The Wudongde hydropower plant on the Yangtze River has begun full operation, Reuters has reported, citing state-owned Chinese media. The 12-generator plant cost close to $19 billion to build and…

Biden Asks Putin How He Would Like Ransomware Attack On Russian Pipelines

Biden Asks Putin How He Would Like Ransomware Attack On Russian Pipelines

Jun 16, 2021 at 16:49 | Julianne Geiger

U.S. President Joe Biden on Wednesday asked Russian President Vladimir Putin how he would feel if someone carried out a ransomware attack on Russian oil pipelines. The question was asked…

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