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U.S. Gasoline Prices Plunge Below Year Ago Levels

U.S. Gasoline Prices Plunge Below Year Ago Levels

After a relentless month’s long…

The Cost Of Drilling Continues To Rise

The Cost Of Drilling Continues To Rise

The average cost of developing…

News

Europe’s Energy Security To Be Tested As Temperatures Plummet

Europe’s Energy Security To Be Tested As Temperatures Plummet

Dec 01, 2022 at 03:18 | Tsvetana Paraskova

After an unseasonably warm October and most of November, cold weather settled in most of Europe at the beginning of December and weather forecasts point to a colder-than-normal start to…

White House Mulls Additional Oil And Fuel Releases This Winter

White House Mulls Additional Oil And Fuel Releases This Winter

Dec 01, 2022 at 02:45 | Irina Slav

The Biden administration may release additional volumes of crude oil and heating oil this winter in case of a supply squeeze, CNBC has reported, citing four unnamed sources. Earlier…

U.S. Warns EU Members Against Setting Oil Price Cap Too Low

U.S. Warns EU Members Against Setting Oil Price Cap Too Low

Dec 01, 2022 at 01:03 | Irina Slav

The United States has urged caution in the European Union’s discussions of a price cap on Russian crude, saying that the lower prices that have been cited in recent days…

Chinese Manufacturing Contracted At Steeper Pace In November

Chinese Manufacturing Contracted At Steeper Pace In November

Nov 30, 2022 at 16:46 | Charles Kennedy

China’s National Bureau of Statistics released monthly data on Wednesday showing that factory activity contracted at a steeper pace in November versus October…

Reuters Survey: OPEC Cut 710,00 Bpd In November

Reuters Survey: OPEC Cut 710,00 Bpd In November

Nov 30, 2022 at 13:32 | Charles Kennedy

Led by Gulf member states, OPEC oil output dropped in November in line with the OPEC+ pledge to cut output by 2 million barrels per day for the…

Natural Gas Starts Flowing Through New Baltic Pipe Project

Natural Gas Starts Flowing Through New Baltic Pipe Project

Nov 30, 2022 at 12:35 | Charles Kennedy

Natural gas began flowing in full capacity Wednesday on a new pipeline, the Baltic Pipe, running from Norway through Denmark and Poland after a three-year construction project.

U.S. Crude Oil, Oil Products Exports Hit All-Time High

U.S. Crude Oil, Oil Products Exports Hit All-Time High

Nov 30, 2022 at 11:56 | Julianne Geiger

The United States exported the most crude oil and refined oil products last week, bleeding commercial inventories to low levels, according to new data released by the Energy Information Administration…

Russia: Oil Price Cap Is An ‘Anti-Market Measure’

Russia: Oil Price Cap Is An ‘Anti-Market Measure’

Nov 30, 2022 at 11:05 | Charles Kennedy

The planned price cap on Russian oil is an anti-market measure that will have devastating effects on all and could significantly complicate the situation on the global markets, Maria Zakharova,…

Saudi Arabia Makes More Unconventional Gas Discoveries

Saudi Arabia Makes More Unconventional Gas Discoveries

Nov 30, 2022 at 10:31 | Tom Kool

Saudi Arabia’s oil giant Aramco has discovered two unconventional natural gas fields in the eastern part of the country, Energy Minister Prince Abdulaziz bin Salman said on Wednesday. The…

Nigeria To End Imports Of Petroleum Products In 2023

Nigeria To End Imports Of Petroleum Products In 2023

Nov 30, 2022 at 08:21 | Julianne Geiger

Nigeria—a major petroleum products importer—expects to stop importing petroleum products starting in the third quarter of next year, Nigeria’s oil minister Timipre Sylva said on Tuesday, cited by Reuters. A…

Eni Holds Preliminary Talks To Buy UK Gas Producer For Up To $6  Billion

Eni Holds Preliminary Talks To Buy UK Gas Producer For Up To $6 Billion

Nov 30, 2022 at 07:40 | Tsvetana Paraskova

Italian energy major Eni has held preliminary talks to potentially buy UK-based gas-focused producer Neptune Energy for up to $6 billion, Reuters reported…

Germany’s Largest State Declares Emergency Amid Energy Crisis

Germany’s Largest State Declares Emergency Amid Energy Crisis

Nov 30, 2022 at 07:36 | Tsvetana Paraskova

North Rhine-Westphalia, the biggest state in Germany in terms of economy and population, has declared an emergency situation amid the energy crisis in order to be allowed to…

Centrica Sets Out To Develop A “UK Hydrogen Economy”

Centrica Sets Out To Develop A “UK Hydrogen Economy”

Nov 30, 2022 at 07:23 | City A.M

Energy giant Centrica and Ryze Hydrogen will jointly build and operate hydrogen production facilities aimed at providing a reliable supply of hydrogen for industry and transportation, the companies…

Covid Lockdowns Force Three Chinese Automakers To Halt Production

Covid Lockdowns Force Three Chinese Automakers To Halt Production

Nov 30, 2022 at 07:11 | ZeroHedge

Just when the automobile industry thought it was out of the clutches of the Covid-induced supply chain SNAFU that had taken place over the last several years, it…

UK Approves $26.6 Billion Power Grid Investment To Expand Renewable Capacity

UK Approves $26.6 Billion Power Grid Investment To Expand Renewable Capacity

Nov 30, 2022 at 06:50 | Tsvetana Paraskova

Six electricity distribution network companies, covering fourteen local networks in the UK, will have $26.6 billion (£22.2 billion) to invest by 2028 to make the local grids more…

Chevron To Ship First Venezuelan Oil To The U.S. By Year-End

Chevron To Ship First Venezuelan Oil To The U.S. By Year-End

Nov 30, 2022 at 06:47 | Tsvetana Paraskova

Chevron is getting ready to ship the first oil cargo from Venezuela to the United States by late December after the U.S. Administration issued this weekend a six-month…

Oil Prices Jump On Major Crude Draw

Oil Prices Jump On Major Crude Draw

Nov 29, 2022 at 16:01 | Julianne Geiger

Crude oil inventories sagged by another 7.85 million barrels, American Petroleum Institute (API) data showed on Tuesday, after dropping 4.2 million barrels in the week prior. Analysts anticipated a 2.487 million…

White House Changes Plan To Refill SPR At $70 Per Barrel

White House Changes Plan To Refill SPR At $70 Per Barrel

Nov 29, 2022 at 12:45 | Julianne Geiger

U.S. Energy Security Advisor Amos Hochstein said on Tuesday that the White House would look to refill the nation’s Strategic Petroleum Reserves when oil prices were “consistently” at $70 per…

Xi: China Looks To Boost Energy Partnership With Russia

Xi: China Looks To Boost Energy Partnership With Russia

Nov 29, 2022 at 12:32 | Charles Kennedy

China is ready to work for a closer partnership with Russia in the energy sector, Chinese President Xi Jinping was quoted as saying on Tuesday, days before the EU embargo…

Russia’s Pipeline Oil Exports To China Flat So Far This Year

Russia’s Pipeline Oil Exports To China Flat So Far This Year

Nov 29, 2022 at 12:30 | Tsvetana Paraskova

Russia’s pipeline oil exports to China via the Eastern Siberia—Pacific Ocean (ESPO) oil pipeline were flat between January and October compared to the same period of 2021, according to China…

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