Michael Kern

Latest articles from Michael

• Russia’s Oil And Gas Revenues Slump 46% Year-Over-Year

  Published 03 February 2023 | viewed 9,668 times

  Russia’s budget revenues from oil and gas plunged in January by 46% compared to the same month last year due to the sanctions on Russian…

• Europe’s Gas Prices Set For 6% Weekly Gain As Cold Weather Closes In

  Published 03 February 2023 | viewed 3,238 times

  Europe’s benchmark gas prices were set to post a 6% weekly gain on Friday, the biggest gain since early December, due to expected colder temperatures…

• Oil Prices Under Pressure Despite Looming Fuel Embargo

  Published 03 February 2023 | viewed 5,806 times

  Oil prices are under pressure from a slew of bearish news coming out of the United States this week, but the looming EU embargo on…

• OPEC’s Oil Production Drops In January As Saudi Arabia Cuts Output

  Published 02 February 2023 | viewed 10,493 times

  OPEC’s crude oil production fell in January by around 60,000 barrels per day (bpd) due to cuts by top producer Saudi Arabia which may have…

• Disappointing Returns May Force BP To Rein In Its Renewable Energy Push

  Published 01 February 2023 | viewed 7,346 times

  Bernard Looney, the chief executive of BP, has recently discussed plans with people close to the supermajor to potentially scale back the company’s push into…

• Libyan Oil Ministry Rejects $8 Billion Gas Deal With Eni

  Published 31 January 2023 | viewed 2,254 times

  Libya’s Oil Ministry has rejected the huge $8-billion deal that the Italian energy giant signed with the Libyan National Oil Corporation (NOC) this weekend, saying…

• Exxon Posts Highest Profits In Western Oil Company History

  Published 31 January 2023 | viewed 7,000 times

  ExxonMobil (NYSE: XOM) reported on Tuesday $55.7 billion in earnings for 2022 in a record-breaking earnings tally for any Western oil supermajor ever. Exxon said…

• Venezuela Demands Prepayment For Its Oil

  Published 30 January 2023 | viewed 25,146 times

  Venezuela’s state-owned oil firm PDVSA has tightened the prepayment rules for its oil after a review of contracts, demanding now cargoes be paid in cash…

• Chevron Reports Record-Breaking Profits For 2022

  Published 27 January 2023 | viewed 3,531 times

  Chevron (NYSE: CVX) reported on Friday its highest annual profit ever as its adjusted earnings for last year more than doubled from 2021 to hit…

• Pipeline Gas Flows Resume To Freeport LNG Export Terminal

  Published 26 January 2023 | viewed 7,451 times

  Small volumes of natural gas started to flow via pipeline to the Freeport LNG export terminal in Texas, which has been shut down since June…

• Equinor Looks To Offload $1 Billion In Nigerian Oil Assets

  Published 25 January 2023 | viewed 3,196 times

  Equinor has hired Standard Chartered to assist in a sale of the Norwegian energy major’s stake in an offshore oilfield in Nigeria, industry sources told…

• OPEC+ Set To Keep Oil Production Unchanged

  Published 24 January 2023 | viewed 6,761 times

  The Joint Ministerial Monitoring Committee of the OPEC+ group is expected to recommend keeping the current levels of oil production when it meets next week,…

• Bullish Sentiment Builds As China's Recovery Continues

  Published 20 January 2023 | viewed 3,238 times

  Oil bulls appear to have gained the upper hand this week as China's recovery continues and both the IEA and OPEC raised their global demand…

• China To Accelerate The Construction Of Coal-Fired Power Plants

  Published 20 January 2023 | viewed 11,379 times

  China expects to add 70 gigawatts (GW) of coal-fired power generation this year, up from 40 GW of capacity from coal installed in 2022, a…

• IEA: Half Of All Cars Sold In Top Markets Will Be Electric By 2030

  Published 17 January 2023 | viewed 2,970 times

  Every other car sold in 2030 in the three largest EV markets – China, Europe, and the United States – will be an electric vehicle,…

• Spanish Utility Says Europe's Energy Crisis Isn’t Over Yet

  Published 16 January 2023 | viewed 2,754 times

  The energy crisis in Europe isn’t over yet, as only the mild weather has helped the continent avoid gas shortages so far this winter, Ignacio…

• Oil Prices Climb Despite Demand Uncertainty

  Published 13 January 2023 | viewed 3,912 times

  Oil prices have been buoyed this week by promising inflation data in the U.S., although the uncertainty surrounding China's oil demand will keep oil markets…

• Head Of Saudi Wealth Fund Will Not Testify In Defense Of Elon Musk

  Published 13 January 2023 | viewed 8,217 times

  The governor of the Public Investment Fund, Saudi Arabia’s $620-billion sovereign wealth fund, will not testify in defense of Elon Musk in an upcoming trial…

• Russia Accuses Sweden Of “Hiding Something” About The Nord Stream Sabotage

  Published 12 January 2023 | viewed 20,109 times

  Sweden’s refusal to share information about the sabotage of the Nord Stream pipelines is “puzzling,” and withholding the results of the investigation means that “Swedish…

• Brazil’s Energy Giant Cuts Natural Gas Prices By 11%

  Published 10 January 2023 | viewed 4,765 times

  Petrobras will cut the price of natural gas for its customers by 11.1% from February 1 compared to the November-January period due to lower international…