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Oil Prices Fall As The Fed Changes Its Tune

Oil Prices Fall As The Fed Changes Its Tune

Oil prices sank on Thursday…

Big Oil Used Instagram And Gen Z Lost It

Big Oil Used Instagram And Gen Z Lost It

Big oil has begun using…

Turkey Makes Moves To Become An Energy Hub

Turkey Makes Moves To Become An Energy Hub

Turkey has moved closer to…

News

North Dakota Supreme Court Decides In Favor Of Oil Firms In Royalties Case

North Dakota Supreme Court Decides In Favor Of Oil Firms In Royalties Case

May 21, 2021 at 15:25 | Tsvetana Paraskova

The oil royalties which producers pay landowners should be calculated at the well, not at a higher price at some point downstream, the North Dakota Supreme Court said this…

Gasoline Shortages Still Lingering Post-Colonial Pipeline Hack

Gasoline Shortages Still Lingering Post-Colonial Pipeline Hack

May 21, 2021 at 14:27 | Julianne Geiger

The gasoline shortages in America’s Southeast are shrinking, but two weeks after the Colonial Pipeline went offline due to a hack, some drivers are still finding it hard to locate…

California Requires Most Uber And Lyft Trips To Be Electric By 2030

California Requires Most Uber And Lyft Trips To Be Electric By 2030

May 21, 2021 at 12:37 | Charles Kennedy

California adopted on Thursday a new regulation that requires rideshare companies such as Uber and Lyft to achieve zero greenhouse gas emissions and ensure 90 percent of their vehicle miles…

China Bans Teslas At Government Compounds

China Bans Teslas At Government Compounds

May 21, 2021 at 10:32 | Charles Kennedy

Chinese authorities have banned government employees with Teslas from parking them inside government compounds, Reuters has reported, citing unnamed sources which noted the ban was on security grounds. Tesla…

Tanzania, Uganda Finalize Oil Pipeline Deal

Tanzania, Uganda Finalize Oil Pipeline Deal

May 21, 2021 at 09:38 | Irina Slav

Tanzania and Uganda have signed a fifth and final government agreement that will greenlight the construction of a $3.5-billion pipeline that will carry crude pumped in western Uganda to the…

Six-Year High Margins Prompt U.S. Refiners To Boost Gasoline Production

Six-Year High Margins Prompt U.S. Refiners To Boost Gasoline Production

May 21, 2021 at 09:16 | Tsvetana Paraskova

The highest refining margins since 2015 as U.S. gasoline prices rise are a great incentive to American refiners to increase gasoline production, according to Reuters columnist John Kemp. In…

UAE: Oil Demand Has Already Increased To 95 Million Bpd

UAE: Oil Demand Has Already Increased To 95 Million Bpd

May 20, 2021 at 17:32 | Charles Kennedy

Oil demand has already increased to 95 million barrels per day (bpd), and the market is rebalancing, according to the chief executive of the Abu Dhabi National Oil Company (ADNOC),…

Oil Demand Is Rebounding Fast In Europe

Oil Demand Is Rebounding Fast In Europe

May 20, 2021 at 15:41 | Tsvetana Paraskova

Traffic on Europe’s highways and in the biggest cities has been rising in recent weeks as economies reopen, suggesting a rebound in road transportation fuel demand. Traffic on highways in…

Saudi Arabia Beats Russia Again To Top Chinese Oil Supplier Spot

Saudi Arabia Beats Russia Again To Top Chinese Oil Supplier Spot

May 20, 2021 at 12:32 | Charles Kennedy

Saudi Arabia kept its status as China’s top oil supplier in April, beating Russia for the eighth month in a row as the world’s largest oil buyer imported the lowest…

Iran: “Main Agreement” On Lifting Of U.S. Sanctions Reached

Iran: “Main Agreement” On Lifting Of U.S. Sanctions Reached

May 20, 2021 at 11:31 | Tsvetana Paraskova

Global powers taking part in the indirect U.S.-Iranian talks on a return to the nuclear agreement have accepted that the U.S. sanctions on Iran, including on its oil exports, will…

Qatar Cuts LNG Prices And Expands Into Asian Spot Market

Qatar Cuts LNG Prices And Expands Into Asian Spot Market

May 20, 2021 at 10:34 | Charles Kennedy

Qatar is cutting prices for its gas and expanding into the Asian spot market as it seeks to maintain its number-one position in exports of liquefied natural gas. According to…

U.S. Waives Nord Stream 2 Sanctions

U.S. Waives Nord Stream 2 Sanctions

May 20, 2021 at 09:29 | Irina Slav

In a somewhat surprising turn of events, Washington said it would waive sanctions about to be imposed on Germany-registered Nord Stream 2 AG, the operator of the Nord Stream-2 pipeline…

Asia Largely Dismisses IEA’s Bombshell Anti-Oil Report

Asia Largely Dismisses IEA’s Bombshell Anti-Oil Report

May 19, 2021 at 18:07 | Julianne Geiger

Asian energy leaders have dismissed the International Energy Agency’s net-zero carbon report, saying there are many paths to reaching net-zero. The IEA shocked the energy world on Tuesday with its…

Saudi Wealth Fund Dumps Oil Giant And Buys Videogame Stocks

Saudi Wealth Fund Dumps Oil Giant And Buys Videogame Stocks

May 19, 2021 at 17:52 | Tsvetana Paraskova

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has sold all the 51 million shares it held in Canada’s oil producer Suncor Energy, regulatory filings showed this week,…

India’s Refiners Prepare For Lifting Of U.S. Sanctions On Iran’s Oil

India’s Refiners Prepare For Lifting Of U.S. Sanctions On Iran’s Oil

May 19, 2021 at 17:41 | Charles Kennedy

Major Indian state-held refiners plan to cut back on spot crude purchases later this year, expecting that the U.S. sanctions on Iran’s oil could be lifted by the end of…

Merger Mania Isn’t Over In America’s Shale Patch

Merger Mania Isn’t Over In America’s Shale Patch

May 19, 2021 at 16:17 | Felicity Bradstock

Bonanza Creek Energy (BCEI.N) and Extraction Oil & Gas (EH4.MU) announced a merger this Monday, in an all-stock deal of $2.6 billion, forming…

Russia: Oil Market Is Balanced With Demand Slightly Exceeding Supply

Russia: Oil Market Is Balanced With Demand Slightly Exceeding Supply

May 19, 2021 at 13:28 | Charles Kennedy

The oil market is fairly balanced at present with demand slightly exceeding supply, Russia’s Deputy Prime Minister Alexander Novak told reporters on Wednesday. Russia, as OPEC’s key partner in the…

Biden Promises $20 Billion In Cybersecurity Funding

Biden Promises $20 Billion In Cybersecurity Funding

May 19, 2021 at 11:20 | Irina Slav

The Biden administration will make available $20 billion to bolster cybersecurity defenses at the state, local, and tribal government levels, the White House said in a press release. “Governors,…

Iran To Bypass Key Oil Chokepoint By Exporting From Jask Terminal

Iran To Bypass Key Oil Chokepoint By Exporting From Jask Terminal

May 19, 2021 at 10:07 | Tsvetana Paraskova

Iran looks to begin as soon as next month crude oil exports from the Jask terminal on the Sea of Oman, without the need to have tankers travel through the…

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.…

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