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News

Russia’s Gazprom Sees Global Gas Demand Growing Despite Green Push

Russia’s Gazprom Sees Global Gas Demand Growing Despite Green Push

May 19, 2021 at 09:33 | Tsvetana Paraskova

Russia’s gas giant Gazprom believes that natural gas has a bright future with demand growing and gas having a larger share of energy consumption than renewables and other low-carbon sources.…

Crude Oil Inventories See Smaller Than Expected Build

Crude Oil Inventories See Smaller Than Expected Build

May 18, 2021 at 15:48 | Julianne Geiger

The American Petroleum Institute (API) on Tuesday reported a build in crude oil inventories of 620,000 barrels for the week ending May 14. Analysts had predicted a build of

Shell: Nigeria Oil Operations Are Incompatible With Net-Zero Plans

Shell: Nigeria Oil Operations Are Incompatible With Net-Zero Plans

May 18, 2021 at 13:58 | Tsvetana Paraskova

Royal Dutch Shell does not see its upstream oil operations in Nigeria as compatible with its strategy to become a net-zero energy business, chief executive Ben van Beurden said at…

EPA Orders Shutdown Of Caribbean Refinery

EPA Orders Shutdown Of Caribbean Refinery

May 18, 2021 at 13:38 | Charles Kennedy

The U.S. Environmental Protection Agency has ordered the complete shutdown of the Limetree Bay refinery on the Caribbean island of St. Croix because of “multiple improperly conducted operations”, Offshore Technology…

CATL Beats LG And Panasonic To Become Leading Battery Maker

CATL Beats LG And Panasonic To Become Leading Battery Maker

May 18, 2021 at 10:39 | MINING.com

A new report by Adamas Intelligence reveals that Contemporary Amperex Technology (CATL)…

Big Oil Scores Win In Supreme Court

Big Oil Scores Win In Supreme Court

May 18, 2021 at 09:27 | Irina Slav

The Supreme Court has ruled for a case brought against 20 oil companies by the city of Baltimore to be moved to a federal court, the Wall Street Journal

Natural Gas Prices Jump On Warmer Weather

Natural Gas Prices Jump On Warmer Weather

May 17, 2021 at 15:49 | Julianne Geiger

The U.S. benchmark natural gas price jumped more than 5% on Monday as power generators are expected to burn more gas to keep air conditioners going that are just now…

U.S. Residential Energy Use Fell In 2020 Despite Lockdown

U.S. Residential Energy Use Fell In 2020 Despite Lockdown

May 17, 2021 at 15:42 | Charles Kennedy

U.S. residential energy consumption fell by 4 percent year over year in 2020, even though more people stayed at home to work or attend school during the lockdowns last year,…

Australia’s Refiners Receive Government Aid To Boost Fuel Security

Australia’s Refiners Receive Government Aid To Boost Fuel Security

May 17, 2021 at 13:44 | Tsvetana Paraskova

Australia’s government will provide US$1.5 billion (AUS$2 billion) in payments to its last two refiners to ensure that they stay open until 2030 and supply the country with domestically-produced fuels,…

Chinese Refiners Ramped Up Crude Processing In April

Chinese Refiners Ramped Up Crude Processing In April

May 17, 2021 at 12:45 | Charles Kennedy

China’s refinery throughput increased by 7.5 percent annually in April, signaling a sustained recovery in crude processing, although the volumes were lower than the record-highs seen last November, according to…

Leading Chinese Lithium Producer May Open Battery Plant In Argentina

Leading Chinese Lithium Producer May Open Battery Plant In Argentina

May 17, 2021 at 10:29 | MINING.com

China’s Ganfeng Lithium, one of the world’s top producers of the commodity used in…

Offshore Wind Requires 63,000lbs Of Copper Per Turbine

Offshore Wind Requires 63,000lbs Of Copper Per Turbine

May 17, 2021 at 09:32 | Irina Slav

Renewables—and especially offshore wind—are set to drive a surge in copper demand that will push prices even higher, as the amount of copper required per wind turbine is staggering, at…

COVID Crisis May Delay Oil Offloading Operations In India

COVID Crisis May Delay Oil Offloading Operations In India

May 17, 2021 at 08:58 | Tsvetana Paraskova

The alarming situation with the spread of the coronavirus in India has started to affect operations at some of India’s ports, which could lead to delays in oil offloading and…

UK Climate Boss: World Must End Coal To Save Planet

UK Climate Boss: World Must End Coal To Save Planet

May 14, 2021 at 14:26 | Charles Kennedy

The world needs to ditch coal in order to tackle climate change and save the planet, former UK business secretary Alok Sharma, who is now president for this year’s global…

China Cracks Down On Tax Loopholes In Blending Fuels Imports

China Cracks Down On Tax Loopholes In Blending Fuels Imports

May 14, 2021 at 14:13 | Tsvetana Paraskova

Chinese authorities are looking to ease the domestic fuel glut and reducing pollution by heavily taxing as of June the imports of several kinds of blending fuels which are being…

Rosneft Swings BackTo Profit In Q1 2021

Rosneft Swings BackTo Profit In Q1 2021

May 14, 2021 at 11:37 | Irina Slav

Rosneft reported a net profit of $2 billion (149 billion rubles) for the first quarter of the year, up from a loss of $2.11 billion (156 billion rubles) for…

Louisiana's Democrat Governor Urges Washington To Resume Oil Leases

Louisiana's Democrat Governor Urges Washington To Resume Oil Leases

May 14, 2021 at 10:42 | Charles Kennedy

Governor John Bel Edwards, the Democrat at the helm of Louisiana, has urged the federal government to resume oil and gas leases within months, the Associated Press reports, quoting…

Valero Receives Waiver To Ship Oil And Fuels To U.S. East Coast

Valero Receives Waiver To Ship Oil And Fuels To U.S. East Coast

May 14, 2021 at 09:33 | Irina Slav

The federal government has granted Valero Energy a waiver from the Jones Act—legislation restricting the number of vessels that can carry oil and fuels along the U.S. coastline. Reuters

Senator Introduces Bill To Compensate Oil-States During Energy Transition

Senator Introduces Bill To Compensate Oil-States During Energy Transition

May 13, 2021 at 17:51 | Julianne Geiger

A Democratic Senator introduced a bill on Thursday designed to give states financial support to compensate for the losses oil and gas states will incur as a result of the…

BP Shareholders Reject Emission-Cutting Resolution

BP Shareholders Reject Emission-Cutting Resolution

May 13, 2021 at 15:13 | Irina Slav

The majority of BP shareholders voted against a resolution filed by Dutch activist investor group Follow This that demanded the supermajor increase its emissions-cutting commitments. Some 80 percent voted against…

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