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News

India’s Crude Production Slipped In August While Oil Imports Jumped

India’s Crude Production Slipped In August While Oil Imports Jumped

Sep 23, 2021 at 09:23 | Charles Kennedy

India saw its domestic crude oil production drop by 2.3 percent in August compared to August 2020, government data showed on Wednesday, while India is estimated to have significantly…

World’s Largest Oil Trader Teams Up With Buffett-Backed EV Maker

World’s Largest Oil Trader Teams Up With Buffett-Backed EV Maker

Sep 22, 2021 at 17:27 | Charles Kennedy

The world’s largest independent oil trading house, Vitol Group, has formed a $250-million partnership with Chinese electric vehicle maker BYD to provide EV fleet mobility services in select markets worldwide,…

UN Health Agency Sets Stricter Limits For Emissions Linked To Fossil Fuels

UN Health Agency Sets Stricter Limits For Emissions Linked To Fossil Fuels

Sep 22, 2021 at 15:07 | Charles Kennedy

The United Nations agency, the World Health Organization (WHO), issued on Wednesday its first update on air quality guidelines in 15 years, lowering the recommended limits of emissions, including…

Two UK Energy Suppliers Cease Trading As Natural Gas Crisis Escalates

Two UK Energy Suppliers Cease Trading As Natural Gas Crisis Escalates

Sep 22, 2021 at 13:12 | City A.M

Green and Avro have announced they are leaving the energy market and will cease trading. The announcement from Green came just one day after it was…

European Industry Reels From Record Gas Prices

European Industry Reels From Record Gas Prices

Sep 22, 2021 at 12:57 | Ag Metal Miner

Reports in the media that natural gas prices in the U.K. have more than quadrupled over the last year to highs of 180p per therm from around 40p…

Iran Looks To Attract $145 Billion In Oil Investment

Iran Looks To Attract $145 Billion In Oil Investment

Sep 22, 2021 at 11:36 | Tsvetana Paraskova

Iran is drafting plans to attract as much $145 billion domestic and foreign investments in its oil industry over the next eight years, Iranian Oil Minister Javad Owji said on…

UK Power Sector Could See Tidal Wave Of Bankruptcies

UK Power Sector Could See Tidal Wave Of Bankruptcies

Sep 22, 2021 at 09:57 | Tsvetana Paraskova

Update: Green Energy, a small-sized, and Avro, a medium-sized energy retailer just declared bankruptcy, leaving 1.5 million households scrambling for a new provider. More UK energy suppliers are…

China To End Coal Power Plant Construction Abroad

China To End Coal Power Plant Construction Abroad

Sep 22, 2021 at 09:07 | Charles Kennedy

China will stop building new coal power plants abroad, President Xi Jinping said at this week’s virtual UN meeting. “China will step up support for other developing countries in developing…

OPEC+ Struggles To Lift Production As Oil Market Tightens Further

OPEC+ Struggles To Lift Production As Oil Market Tightens Further

Sep 21, 2021 at 17:41 | Julianne Geiger

The OPEC+ group lifted its production in August, but underinvestment and maintenance work has hampered the group's ability to raise production—and supply could be insufficient to meet the world's growing…

Canada’s Oil Sector Asks Re-elected Liberals To Back Local Producers

Canada’s Oil Sector Asks Re-elected Liberals To Back Local Producers

Sep 21, 2021 at 16:33 | Tsvetana Paraskova

Following the re-election of the Liberals in Canada, the oil industry has asked the federal government to support domestic oil and gas production to ensure energy to the country…

Oil Prices Jump As Crude, Fuel Inventories Continue To Fall

Oil Prices Jump As Crude, Fuel Inventories Continue To Fall

Sep 21, 2021 at 15:40 | Julianne Geiger

The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 6.108 million barrels for the week ending September 17. It exceeded the analyst expectations who…

Russia Expects To Boost Oil Production To Post-Soviet High In 2022

Russia Expects To Boost Oil Production To Post-Soviet High In 2022

Sep 21, 2021 at 14:52 | Charles Kennedy

Russia sees raising its oil production to an average of 11.24 million barrels per day (bpd) in 2022, which would be an 8-percent increase from 2021 as OPEC+ eases the…

Global Copper Output On The Rise As Prices Soar

Global Copper Output On The Rise As Prices Soar

Sep 21, 2021 at 12:32 | Ag Metal Miner

Global copper mine production picked up by 4.9% during the first half of the year, the International Copper Study Group said this week.…

India’s Oil Imports Jump To Four-Month High In August

India’s Oil Imports Jump To Four-Month High In August

Sep 21, 2021 at 11:30 | Tsvetana Paraskova

India’s oil imports surged by 23 percent month-on-month to reach a four-month high of 4.2 million barrels per day (bpd) in August, amid refiners preparing to ramp up crude throughputs…

OPEC+ Boosts Compliance With Oil Production Cuts To 116%

OPEC+ Boosts Compliance With Oil Production Cuts To 116%

Sep 21, 2021 at 10:06 | Tsvetana Paraskova

The OPEC+ group of producers raised their compliance with the ongoing collective production cuts to 116 percent in August, up from 109 percent compliance in July, sources from the alliance…

Shell Gulf Platform To Remain Shut Until Year-End After Ida Damage

Shell Gulf Platform To Remain Shut Until Year-End After Ida Damage

Sep 21, 2021 at 09:33 | Charles Kennedy

An offshore platform operated by Shell will remain shuttered until the end of the year following damage sustained from Hurricane Ida, the Anglo-Dutch major has said. The platform had…

UN Climate Conference Snubs Big Oil

UN Climate Conference Snubs Big Oil

Sep 20, 2021 at 17:25 | Tsvetana Paraskova

BP and Shell will have a lower profile than they have hoped for at the UN Climate Change Conference of the Parties (COP) in Glasgow in November because the oil…

Saudis Keep China’s Top Oil Supplier Spot As Shipments Jump 53%

Saudis Keep China’s Top Oil Supplier Spot As Shipments Jump 53%

Sep 20, 2021 at 15:28 | Tsvetana Paraskova

Saudi Arabia saw its crude oil exports to China surge by 53 percent annually in August, keeping its status of top supplier to the world’s largest oil importer for a…

European Gas Prices Soar 10% As Russia Refuses To Open The Taps

European Gas Prices Soar 10% As Russia Refuses To Open The Taps

Sep 20, 2021 at 13:27 | Julianne Geiger

As the cat-and-mouse game continues over Russian gas to Europe, Russian Gazprom has refused to allow more gas into Europe via Ukraine for October, sending prices soaring another…

Ford Doubles Production Capacity For Electric F-150 Pickup Truck

Ford Doubles Production Capacity For Electric F-150 Pickup Truck

Sep 20, 2021 at 11:32 | ZeroHedge

While General Motors is in the midst of EV hell, dealing with a massive recall for its Chevy Bolt and shuttering production as a result of the ongoing semi shortage,…

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