Author: Tsvetana Paraskova

TotalEnergies has emerged as the favorite to buy into a major oil discovery offshore Namibia and become a partner of Portugal’s Galp in its development, Bloomberg reported on Tuesday, citing anonymous sources with knowledge of the matter.   Galp, which…

The United States has denied a sanctions waiver to Serbian refinery Naftna Industrija Srbije (NIS), majority owned by Russian state energy firms and sanctioned by the United States, forcing Serbia’s only refinery to shut down, Serbian President Aleksan…

Rio Tinto is streamlining operations and drafting a fundamental reset to accelerate projects with quicker and better returns. The strategy overhaul is courtesy of the mining giant’s former head of the iron ore division, the group’s biggest business, wh…

The UK government has decided to withdraw a $1.1-billion loan guarantee for TotalEnergies’ Mozambique LNG project as risks have increased and it is no longer in the interest of the UK or its taxpayer. UK Export Finance (UKEF), the UK government’s expor…

A Texas oil firm is fighting an uphill battle with the state of California to restart crude oil production and sales from three platforms in federal waters offshore Santa Barbara. Houston-based Sable Offshore Corp, led by industry veteran James Flores,…

A London judge has knocked back a lawsuit aimed at stopping 28 offshore oil and gas exploration licences, giving the government a win it probably didn’t expect this week. Oceana UK had claimed officials treated the licences like a rubber-stamp exercise…

Germany will plead with the EU to allow plug-in hybrids and highly efficient conventional cars to be sold in the bloc even after the effective ban on gasoline and diesel passenger cars in 2035, Chancellor Friedrich Merz said on Friday as the government…

Subsidies and Contracts for Difference (CfD) that the UK government has promised to the two projects for new nuclear power stations are expected to add $1.32 billion (£1 billion) annually to the UK power bills from around 2030, The Telegraph reports, c…

Russian gas giant Gazprom booked a net income for the third quarter versus a loss a year earlier, when it was hit by a one-off tax for the Russian budget. Gazprom, which in 2023 booked its first annual net loss in 23 years on the plunge of its gas sale…

Germany will plead with the EU to allow plug-in hybrids and highly efficient conventional cars to be sold in the bloc even after the effective ban on gasoline and diesel passenger cars in 2035, Chancellor Friedrich Merz said on Friday as the government…

Oil prices were headed for a fourth consecutive monthly loss early on Friday as a data center glitch forced CME Group to halt trading in futures and options, disrupting oil futures trades as well as equities, bonds, and foreign exchange. “Due to a cool…

As the Trump Administration looks to broker a Ukraine-Russia peace deal, analysts and traders seek to anticipate how a potential agreement could change energy flows in Europe. To be sure, a peace deal is far from certain, as stumbling blocks and differ…

Drivers in half of U.S. states are enjoying average gasoline prices below $3 per gallon this Thanksgiving holiday, and prices at the pump are set to further decline going into Christmas. Lower crude oil prices, cheaper winter blends, weaker seasonal de…

U.S. and European oil and gas majors are back to doing business in Libya, a decade after pulling out as civil war engulfed one of the top oil producers and the biggest oil resource holder in Africa.   Amid a relatively calm security situation this year…

India’s Ministry of New and Renewable Energy has urged the country’s federal power regulator to delay the implementation of new rules for clean energy generators to stick to their commitments to supply electricity to the grid.  The Central Electricity …

Delaware judge Leonard Stark has approved Elliott Management’s bid for Citgo, the U.S. refining arm of Venezuela’s PDVSA. Parties involved have until Monday to agree on a sale order—including Venezuela. “The Amber Bid offers the best overall combinatio…

Venture Global has accused Shell of trying to damage its business by waging a “campaign” against it over the past three years, the Financial Times has reported, citing an internal message that Venture Global’s owners sent out to staff. “[Shell’s] actio…

Shell is boosting its cooperation with Ferrari by signing a ten-year corporate power purchase agreement (CPPA) to supply renewable energy from a Shell-built and operated plant to the iconic Italian luxury carmaker.  Shell Energy Italia will provide 650…

Iraq has quietly stepped in to keep one of its most important oilfields from wobbling. After two months of unpaid wages at Lukoil’s West Qurna-2, Baghdad has begun paying local staff directly, advancing December salaries to prevent a slowdown at a fiel…

Shell is boosting its cooperation with Ferrari by signing a ten-year corporate power purchase agreement (CPPA) to supply renewable energy from a Shell-built and operated plant to the iconic Italian luxury carmaker.  Shell Energy Italia will provide 650…

Some Indian banks have started to consider financing Russian oil trades that involve only non-sanctioned entities and sanctions-compliant pricing and payments, Bloomberg reported on Tuesday, citing sources with knowledge of the development.    India is…

Shell is boosting its cooperation with Ferrari by signing a ten-year corporate power purchase agreement (CPPA) to supply renewable energy from a Shell-built and operated plant to the iconic Italian luxury carmaker.  Shell Energy Italia will provide 650…

Slowing imports from China have pushed the volumes of Iranian oil held in tankers at sea to the highest level in two and a half years.  The volume of Iran’s crude in floating storage has jumped in recent weeks and widened the discount of Iranian grades…

America’s hyperscalers are looking to ensure the electricity for their huge data centers by entering the supply side of the market—power trading. Meta, Microsoft, and Apple, to name a few, have either requested or obtained authorizations from the Feder…

Russian oil and gas revenues are poised to slump by 35% this month from a year earlier as the price of Russia’s crude has plunged and the local currency strengthened.  Russia’s budget is expected to receive $6.63 billion (520 Russian billion rubles) fr…

As supermajors advance LNG export projects in Mozambique, the southeast African country has granted a 30-year concession to its biggest state firms to build and operate infrastructure for receipt, regasification, storage, and transport of natural gas. …

Growing domestic and export demand for Permian’s natural gas is pushing pipeline developers to invest in new pipeline capacity in the U.S. Gulf Coast. Chemical and manufacturing industries and data centers looking for reliable energy supply drive incre…

Forecasts of milder weather in the weeks ahead and the proposed U.S. peace plan for Ukraine pushed down on Friday European benchmark natural gas prices to their lowest level since May 2024.  Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas…

UK households will pay slightly higher energy bills in the first quarter of 2026 after energy market regulator Ofgem on Friday raised the Energy Price Cap by 0.2%, against expectations of a 1% drop.   The UK has a so-called Energy Price Cap in place, w…

Equinor has started delivering natural gas to Prague’s gas and electricity company Pražská plynárenská under a 10-year long-term agreement for supplies into the Czech Republic, the Norwegian energy major said on Friday.  The gas deliveries, which start…

The COP30 climate summit is ditching an earlier draft of a roadmap to transition away from fossil fuels, according to the latest draft of negotiating texts at the global gathering in Belem, Brazil.  Many countries at COP30 have mobilized and supported …

Since China restricted exports of rare earth elements early this year, Western countries have raced to create mine-to-magnet supply chains to reduce dependence on Chinese supply in the key military and automotive industries. The Trump Administration is…

Refining margins in the U.S, northwest Europe, and Asia have jumped to two-year highs as diesel and gasoline markets tighten with no sign of immediate relief.   Refinery closures in recent years, planned maintenance after the summer, unplanned repairs …

Serbia’s only refinery Naftna Industrija Srbije (NIS), majority owned by Russian state energy firms and sanctioned by the United States, said on Wednesday it had applied for a special U.S. license to continue operations until talks for an ownership cha…

Exxon is now circling the same distressed prize Chevron has been eyeing: chunks of Lukoil’s global portfolio, suddenly up for grabs after Washington loosened the legal chokehold on the sanctioned Russian major. Multiple sources say Exxon is actively we…

Turkish Petroleum Corporation (TPAO), the state-owned energy company of Turkey, plans to issue its first-ever Islamic bond of about $4 billion to fund the expansion of its oil and gas production, Turkey’s Energy Minister Alparslan Bayraktar has told Bl…

The European Center for Constitutional and Human Rights (ECCHR) said on Tuesday it had filed a criminal complaint in France against TotalEnergies for complicity in war crimes, torture, and enforced disappearance at the Mozambique LNG site in 2021.    A…

Turkish Petroleum Corporation (TPAO), the state-owned energy company of Turkey, plans to issue its first-ever Islamic bond of about $4 billion to fund the expansion of its oil and gas production, Turkey’s Energy Minister Alparslan Bayraktar has told Bl…

Global LNG supply is rising and growth will accelerate in the next two years as major projects in the top exporters, the United States and China, come on stream. Supply growth is set to outpace the global LNG demand increase, leading to an oversupplied…

Iran seized on Friday an oil tanker en route to Singapore after it passed the critical Strait of Hormuz in the Middle East in the first major escalation of the tensions in the region since the Iran-Israel war in June.  The Marshall Islands-flagged oil …

The key Russian oil port of Novorossiysk on the Black Sea suspended oil exports on Friday, following a major Ukrainian attack on the port overnight, industry sources told Reuters.    In addition, Russia’s pipeline company Transneft suspended crude oil …

Power generation in China jumped by the most in October in nearly two years and overall electricity output was at its highest for any October since at least 1998, as a heat wave hit southern China while temperatures were colder-than-usual in the north….

Faced with difficult trade negotiations with the United States and American tariffs on their products, Canada and India pledged to encourage long-term supply chain partnerships in critical minerals and clean energy.  At a trade summit in India, Canada …

The energy transition faces the biggest challenge yet as a global backlash against renewable energy – spearheaded by U.S. President Donald Trump – is gaining momentum, according to two of the European pioneers of wind turbine design. President Trump’s …

The European Union is putting its energy security at risk by attempting to regulate every single molecule of energy products it will import in 2027, the year in which the EU will ban Russian natural gas. In its net-zero push and targets to slash emissi…

Namibia, the southwestern African country that has become an exploration hotspot for the supermajors, is moving to consolidate control over the oil resources and nascent industry under the president’s office. Namibia’s government has proposed an amendm…

The International Energy Agency has dropped its predictions that oil demand growth will peak in a matter of a few years. In the latest edition of its World Energy Outlook, the IEA said oil and gas demand could continue growing until 2050. The IEA said …

All but two Indian refiners have skipped placing orders for Russian crude for December after the U.S. sanctioned Russia’s top oil producers, Rosneft and Lukoil, sources with knowledge of the purchases told Bloomberg on Tuesday.  India’s refiners, which…

Iran will not compromise its national security but is open to talks aimed at reaching a “peaceful” nuclear deal with the United States, Iranian deputy foreign minister, Saeed Khatibzadeh, said on Tuesday.  The U.S. and Iran held several rounds of negot…

Iran will not compromise its national security but is open to talks aimed at reaching a “peaceful” nuclear deal with the United States, Iranian deputy foreign minister, Saeed Khatibzadeh, said on Tuesday.  The U.S. and Iran held several rounds of negot…

Venezuela’s economy is in tatters, putting additional pressure on the country’s embattled leader, Nicolas Maduro, at a time when the U.S. Administration is increasing its military presence in the Caribbean region and striking alleged drug boats offshor…

Russian oil giant Lukoil has declared force majeure at the 400,000-barrels-per-day West Qurna-2 oilfield in Iraq after the U.S. sanctions on Russia’s top oil firms, sources familiar with the matter told Reuters on Monday.  Following the October 22 U.S….

Europe’s rush to shake off Russian gas dependence and Asia’s push to buy higher volumes of American energy while negotiating trade deals have created a booming export deal market for U.S. LNG exporters and developers, even at increased liquefaction fee…

The Changqing shale oil field in Northwestern China has produced a cumulative 20 million tons of crude, Chinese media reported, noting the amount marks the start of a new phase in domestic oil production. The amount, equal to some 146.6 million barrels…

Traders and crude market analysts are baffled by a ship-to-ship (STS) transfer of a Rosneft crude cargo offshore India without any attempt to conceal the origin of the oil, as the U.S. sanctions on Russia’s top oil producers and exporters have upended …

Amid the highest Chinese refinery throughput so far this year, China’s crude oil imports jumped in October by 8.2% from a year earlier and by 2.3% month-on-month, while purchases of other commodities dropped from the previous months.  Last month, China…

India’s renewable energy boom is leading to soaring transmission costs as the country’s transmission network is being built on estimates of potential renewable power generation not on actual capacity or demand, according to a top electricity market exe…

Petrobras will be paying higher dividends for the third quarter compared to the second quarter as production and earnings jumped sequentially, the Brazilian state-owned oil giant said. Petrobras booked a net income of $6 billion for the third quarter, …

“Drill, baby, drill” is not the central theme in the U.S. shale patch despite President Donald Trump’s best efforts to back the American oil and gas industry with eased permitting and reversal of climate and export-restricting policies.  Most U.S. oil …

PetroChina plans to phase out production at 19 old and inefficient units across its refining and petrochemicals facilities as China looks to trim overcapacity that has weighed on the downstream sector.  PetroChina, the second-largest refiner in the cou…

A month ago, global exports of liquefied natural gas hit an all-time high. They’re about to grow further, however, as winter in the northern hemisphere draws nearer and demand for heating soars. The first signs are already showing: LNG tanker rates are…

China has just unveiled a major breakthrough in nuclear reactor materials and technology that could pave the way to safer fission energy with less waste and no water use for cooling.     In April this year, Chinese scientists successfully added fresh f…

For months, the oil market has been bracing itself for a looming large oversupply. Forecasters, investment banks, and analysts expect the overhang to depress oil prices at the end of this year and early next year as inventory builds begin to show up at…

Ovintiv will take over NuVista Energy, in which it is already a shareholder, in a deal worth $2.7 billion including debt. NuVista operates in the Montney shale play in Canada. The deal would add some 100,000 barrels daily of oil equivalent to Ovintiv’s…

TotalEnergies on Tuesday announced a power purchase agreement with Data4 to supply renewable electricity to the data center developer’s sites in Spain for 10 years, as the French supermajor looks to boost its integrated power business with the key driv…

Ukraine’s imports of electricity from the European Union surged to a 2025 high in October as Russia intensified attacks on the power grid to wreak additional havoc as temperatures drop. The Russia-Ukraine war on strategic energy assets has escalated in…

Germany is generating electricity from gas-fired power plants at the highest rate since 2021, slowing EU-wide efforts to refill gas storage ahead of peak demand season. Reuters’ Gavin Maguire reports that over the period January to October, Germany gen…

Ukraine’s imports of electricity from the European Union surged to a 2025 high in October as Russia intensified attacks on the power grid to wreak additional havoc as temperatures drop. The Russia-Ukraine war on strategic energy assets has escalated in…

BP (NYSE: BP) on Tuesday reported stronger-than-expected earnings for the third quarter as higher output, field start-ups, and improved refining margins offset weaker oil prices and trading result.  BP booked an underlying replacement cost profit – the…

Ukraine’s imports of electricity from the European Union surged to a 2025 high in October as Russia intensified attacks on the power grid to wreak additional havoc as temperatures drop. The Russia-Ukraine war on strategic energy assets has escalated in…

China’s accelerated crude stock builds in 2025 may come in handy at the end of this year as global oil flows are being redirected again in the wake of the U.S. sanctions on Russia’s top oil firms.  China, the biggest buyer of Russian crude, has a cushi…

China’s accelerated crude stock builds in 2025 may come in handy at the end of this year as global oil flows are being redirected again in the wake of the U.S. sanctions on Russia’s top oil firms.  China, the biggest buyer of Russian crude, has a cushi…

Ten years after the landmark Paris Agreement to pursue net-zero emissions by 2050, the world faces a slowing transition to clean energy despite record-breaking renewable capacity installations.    Much has changed in the energy systems in the decade si…

Chinese refiners are canceling Russian oil cargos and adopting a wait-and-see attitude after the latest U.S. sanctions on Russia’s oil industry. Bloomberg reports, citing traders, that state-owned majors including Sinopec and PetroChina had canceled pr…

Some of Japan’s biggest utilities believe that they would be able to find alternative gas supply in case they are no longer able to import Russian LNG, executives said this week, following U.S. pressure that Japan and other U.S. allies stop imports of …

The government of Mozambique may not agree with the latest estimate for an LNG project led by TotalEnergies, which said earlier this week the price tag for the facility had gone up by $4.5 billion. The French supermajor attributed the cost increase to …

The world’s largest international oil firms are ramping up production even as crude prices have weakened this year and global supply growth continues to outpace the demand increase, setting the stage for a glut in the coming months.   The European majo…

NNPC, the state-owned Nigerian oil company, is looking to revive the three state refineries in Africa’s top crude producer and plans to select technical equity partners to help resume operations at the facilities that have been idled for years.   In an…

NNPC, the state-owned Nigerian oil company, is looking to revive the three state refineries in Africa’s top crude producer and plans to select technical equity partners to help resume operations at the facilities that have been idled for years.   In an…

The world’s electricity demand is expected to surge by 30% over the next decade as data centers, electric vehicles, and demand for heating and cooling drive increased consumption, a new report by Rystad Energy says.  Renewable power generation, especia…

The Trump Administration is following through on its pledge to revive America’s nuclear energy with a strategic partnership with Westinghouse and Cameco to help build large-scale nuclear power plants in the U.S. with a total investment of at least $80 …

The United States has issued a general license allowing limited operations of Rosneft’s German subsidiaries, according to a notice posted on the company’s website and confirmed by Reuters. The authorization applies to Rosneft Deutschland and RN Refinin…

Copper prices hit a record-high on the London Metal Exchange on Wednesday amid a series of supply disruptions and brighter global economic prospects.  The benchmark three-month copper futures jumped to $11,146 per ton in London early on Wednesday, exce…

Kuwait Oil Company, the national oil firm of one of OPEC’s biggest Gulf producers, plans to invest as much as $3.9 billion (1.2 billion Kuwaiti dinars) in exploration drilling by 2030, a senior company executive told Reuters in an interview published o…

India is weighing a bailout package for its indebted state-owned power distribution companies that could be worth more than $11.3 billion (1 trillion Indian rupees), according to a draft plan by the Indian Power Ministry seen by Reuters. Indian authori…

India’s biggest refiner, state-held Indian Oil Corporation Ltd, is preparing to launch in early 2026 a trading joint venture with the world’s biggest independent oil trader, Vitol, to trade crude and fuels, a source familiar with the plans told Reuters…

The OPEC+ group will decide this weekend on production levels for December, in the first meeting since the United States slapped sanctions on the two biggest oil firms in Russia, a key member of the OPEC+ alliance and its second-largest producer after …

India’s Hindustan Petroleum Corporation Limited (HPCL) is looking to import fuel in early November under a rare import tender, after the state-controlled refiner was forced to close a gasoline-producing unit at its Mumbai refinery due to a contaminatio…

The oil market just had its knee-jerk moment. Prices roared higher after the U.S. blacklisted Rosneft and Lukoil—but traders are already questioning whether President Trump’s sanctions will ever really stick. Oil prices jumped 8% last week, with most o…

The U.S. is increasing pressure on Hungary to cut off its reliance on Russian oil imports and vows to work with Hungarian authorities and neighboring countries to help Budapest wean off Russian supply, a senior U.S. diplomat says.   Matthew Whitaker, t…

After years of restructuring and cost-cutting efforts, UK-listed oilfield services group Petrofac on Monday filed for administration, following the termination of its biggest contract.   Petrofac’s directors have applied to the High Court of England an…

Oil prices gave up earlier gains to turn 1% lower on Monday amid profit-taking following last week’s rally.  As of 7:13 a.m. ET, the U.S. benchmark, WTI Crude, traded 0.81% lower at $60.98. The international benchmark, Brent Crude, was down by 0.83% on…

China has increased its underground gas storage capacity by the most of any country since 2022, the International Gas Union (IGU) said in a new report on Monday. As of 2025, there are 699 underground natural gas storage facilities in operation worldwid…

Oil prices edged higher in early Asian trading on Monday, lifted by optimism over a new trade framework between the United States and China that has eased fears of a prolonged trade war between the world’s two largest economies. The partial thaw in ten…

The supertanker freight futures surged on Thursday and Friday after the U.S. sanctions against Russia’s biggest oil firms created a rush to replace Russian barrels.  The front-month supertanker contracts on the route Middle East to China, the benchmark…

Greece on Friday announced it is awarding four offshore oil and gas exploration blocks to a Chevron-led consortium.  Following evaluations and negotiations with Chevron, the joint venture Chevron Greece Holdings – Helleniq Upstream was picked as the se…

Greece on Friday announced it is awarding four offshore oil and gas exploration blocks to a Chevron-led consortium.  Following evaluations and negotiations with Chevron, the joint venture Chevron Greece Holdings – Helleniq Upstream was picked as the se…

The supertanker freight futures surged on Thursday and Friday after the U.S. sanctions against Russia’s biggest oil firms created a rush to replace Russian barrels.  The front-month supertanker contracts on the route Middle East to China, the benchmark…

Italy’s energy giant Eni (NYSE: E) raised its outlook on cash flow generation for 2025 and increased full-year planned buybacks by 20% after posting consensus-beating earnings for the third quarter. Eni on Friday reported an adjusted net profit of $1.4…

It appears that the Trump Administration can’t have it all. Soaring LNG exports to assert America’s energy dominance have intensified competition for U.S. natural gas supply, pushing domestic energy prices higher—the opposite of what President Trump pr…

The sanctioned Russian Arctic LNG export facility continues to ship cargoes to China as the U.S.-sanctioned project did not incur additional sanctions in Wednesday’s U.S. package imposed “as a result of Russia’s lack of serious commitment to a peace pr…

The sanctioned Russian Arctic LNG export facility continues to ship cargoes to China as the U.S.-sanctioned project did not incur additional sanctions in Wednesday’s U.S. package imposed “as a result of Russia’s lack of serious commitment to a peace pr…

Two of the founding members of the BRICS alliance, India and Brazil, drew the short straw when it comes to new U.S. trade policy. South America’s largest economy and Asia’s second-biggest economy have both been slapped with 50% tariffs on their goods e…

Kazakhstan will keep the freeze on fuel prices at least until the spring of 2026, Kazakh Economy Minister, Serik Jumangarin, said on Wednesday.  Last week, Kazakhstan introduced a freeze on fuel prices in an attempt to curb runway inflation. The govern…

China has significantly increased crude stockpiling this year. The crude import volumes going into the world’s biggest importer have held relatively strong despite lukewarm demand and an imminent peak in demand for road transportation fuels. China’s cr…

Fossil fuels aren’t going anywhere. Oil, natural gas, and coal are set to represent about half of global energy consumption in 2050 and beyond, according to the tenth annual McKinsey report, which showed the biggest shift in the consultancy’s thinking …

The latest tit-for-tat fees on port callings in the U.S.-China trade spat threaten to create additional vortexes in global oil flows. Shipowners and charterers are scrambling for clarity after China imposed this week a fee on U.S.-owned, operated, buil…

The oil industry must step up exploration and investment in new supply; otherwise, the world risks a supply shortage, according to Amin Nasser, the chief executive of the Saudi state oil giant Aramco. “We had a decade . . . where people didn’t explore….

Gasoline markets in Africa and nearby regions are tightening as the biggest refinery in Africa, the Dangote plant in Nigeria, has slashed crude oil purchases in recent weeks amid operational challenges.   The refinery is set to buy fewer than 300,000 b…

The oil industry must step up exploration and investment in new supply; otherwise, the world risks a supply shortage, according to Amin Nasser, the chief executive of the Saudi state oil giant Aramco. “We had a decade . . . where people didn’t explore….

India is prioritizing the interest of its consumers in its policies to source energy products, the Indian Foreign Ministry said on Thursday, after U.S. President Donald Trump said on Wednesday that India had agreed to cut imports of Russian crude oil. …

Top executives from supermajors, the U.S. shale patch, and national oil companies remain bullish about the oil market in the medium and long term, expecting growing demand and the downturn in oil prices to eventually rebalance supply and demand from th…

The world needs more investment in oil and gas as they will continue to account for a large part of the global energy mix in 2050, OPEC Secretary General Haitham Al Ghais said on Wednesday, reiterating the cartel’s view that investment in new supply wi…

Oil prices recovered slightly in early Asian trade on Thursday after a steep drop that pushed WTI and Brent to five-month lows the day before. The rebound was fueled by renewed optimism over U.S. pressure on India to curb its imports of Russian crude, …

The Norwegian government on Wednesday proposed to raise the spending from the country’s oil fund, the world’s largest sovereign wealth fund, in next year’s budget, according to the draft budget of the Labor party, which won a second term in office at t…

The North Sea has become the site of a live policy experiment, showcasing two dramatically different approaches to the energy transition, with profoundly different results. While Norway, committed to net zero, backs further exploration, provides long-t…

Oil prices wiped out earlier gains to dip by more than 2% in early U.S. trade on Tuesday amid renewed concerns that the trade war between the United States and China could slow global economy.    As of 9:21 a.m. EDT on Tuesday, the U.S. benchmark, WTI …

Non-OPEC crude production will begin to decline at oil prices at $60 per barrel and lower, Patrick Pouyanne, the chief executive of supermajor TotalEnergies, said on Tuesday.  “There is a point at $60 per barrel where we’ll see the shale industry begin…

A two-month-long bidding war in Canada’s oil patch signaled there is another way for a company to boost its production and resources than investing in new oil sands production, which is considered the world’s most expensive source of new oil supply.   …

One of the world’s top copper producers, Peru, looks to turn around its energy and critical minerals mining industry with deals with foreign firms to boost oil production and supply and launch lithium mining projects. Peru, the South American oil produ…

The administration of Venezuelan leader Nicolás Maduro has offered to open up Venezuela’s oil and gold projects to U.S. companies in an attempt to appease the Trump Administration and avoid conflict, the New York Times reported on Friday, quoting multi…

Total open interest in Europe’s benchmark gas futures surged to a record high this week, exchange data compiled by Bloomberg showed on Friday, in a sign that the lull in European gas trading could be over with the colder weather.  The market has become…

Spanish energy company Repsol announced it has achieved industrial-scale production of gasoline derived from 100% renewable sources at its complex in Tarragona, Spain, according to a company press release. The new fuel, branded Nexa 95 Gasoline of 100%…

Faced with numerous headwinds, Ørsted will slash its workforce numbers by 2,000 by 2027, eliminating a quarter of its current roles, the world’s largest offshore wind developer said on Thursday.   Fresh off its $9.35 billion rights issue to raise funds…

In the Permian Basin, oilfield theft has evolved from stolen wrenches to stolen tankers. What was once a nuisance crime is now a multimillion-dollar operation, prompting Texas to step in with a dedicated task force to combat organized petroleum theft. …

Guyana has strengthened military cooperation with France to safeguard the oil-rich Essequibo region, escalating tensions with Venezuela just as the United States expands maritime strikes on vessels linked to Caracas. The defense announcement follows ne…

Civitas Resources may merge with fellow Permian producer SM Energy, Bloomberg reported today, citing unnamed sources in the know. The sources told the publication the deal would likely take the form of a merger between equals with no premium included i…

Oil prices rose early on Wednesday after an industry report showed on Tuesday that the crude stocks at the key Cushing hub fell further and OPEC+ somewhat eased fears of an imminent glut with a planned modest increase in output.   As of 8:05 a.m. EDT o…

Cenovus Energy is raising its takeover bid for MEG Energy in the best and final offer to buy the company that has seen rival bids from Cenovus and Strathcona Resources in recent months.  Cenovus announced on Wednesday a sweetened offer for MEG Energy s…

The OPEC+ group continues to return modest volumes of supply to the market, cautious not to sink oil prices as demand weakens after the summer. The production hikes are estimated to be lower than the headline figures suggest—some producers lack the cap…

More crude oil from Russia has become available for Indian refiners as Ukrainian drone attacks have reduced the Russian refining capacity, an Indian government official Reuters on Monday. Since the Russian invasion of Ukraine, India has relied on the d…

Farmers in Pakistan are replacing diesel-fueled pumps with solar energy to power the typical irrigation technique in a large part of the world’s fifth most populous country. Many farmers rely on the so-called tube wells—a water well and a motorized pum…

Amid rising global energy demand, oil prices could jump above $100 per barrel if Russia’s oil is pushed out of the market, Russian President Vladimir Putin said on Friday.  “It’s impossible to imagine that the loss of Russian oil volumes will preserve …

India’s biggest state-owned oil companies seek long-term supply of liquefied petroleum gas (LPG) from the United States for the first time, according to tender documents Bloomberg has reviewed.  Indian Oil Corporation, Bharat Petroleum Corporation Limi…

The world’s biggest international oil and gas firms are accelerating layoffs this year in search of further cost cuts and greater efficiency amid industry consolidation, weaker oil prices, and technology advances.   Big Oil promised investors efficienc…

Europe’s oil capital since the 1970s, Aberdeen in Scotland, had not fully recovered from the 2015-2016 price crash when the pandemic triggered another downturn five years later. Then came the war in Ukraine in 2022, the energy crisis, price spikes, and…

Global LNG demand growth will be supported not only by higher power and gas consumption but also by surging demand from the shipping industry, where liquefied natural gas is poised to become key to replacing the dirtier fuel oil and other oil-based mar…

Contrary to earlier expectations, global demand for fuel oil has jumped the most since 2019 as longer routes to avoid the Houthi threat around the Red Sea and the surge in shadow fleet numbers have contributed to higher fuel oil use in the shipping ind…

  TotalEnergies will sell its minority non-operated stakes in three mature oil and gas fields offshore Norway as part of a strategy to high-grade its upstream portfolio, the French supermajor said on Wednesday.  The group’s Norwegian subsidiary, TotalE…

Encouraged by the U-turn in the U.S. energy policies under President Trump, investors are back to backing oil and gas majors as the self-righteous ESG hype is waning, especially in corporate America. For all the environmental, social, and governance cr…

Brent Crude prices failed to hold onto the $70 per barrel handle for more than a day, dipping by 2% early on Monday as the market focused on imminent supply increases. As of 7:28 a.m. EDT on Monday, Brent Crude prices were down by 1.74% at $68.87, afte…

Crude futures slumped on Monday, extending their biggest single-day slide in weeks as OPEC+ signaled it may press ahead with another round of output increases despite production shortfalls across the group. By 12:48 p.m. ET, benchmark contracts were do…

Saudi Arabia is expected to raise slightly the price of its flagship crude grade loading for Asia in November, to reflect stronger Middle Eastern oil benchmarks, refining sources told Reuters in a survey released on Monday.  The world’s top crude expor…

Declining revenues from oil and gas amid lower prices this year have prompted the Algerian government to consider a bond issue to raise the equivalent of $2.3 billion. Algeria’s government plans a seven-year Islamic bond issue, the so-called sukuk, of …

Saudi Arabia is expected to raise slightly the price of its flagship crude grade loading for Asia in November, to reflect stronger Middle Eastern oil benchmarks, refining sources told Reuters in a survey released on Monday.  The world’s top crude expor…

The export availability of crude oil from Iraq’s semi-autonomous region of Kurdistan continues to increase after the pipeline from northern Iraq to the Turkish Mediterranean coast resumed flows on Saturday, one of the foreign companies operating in Kur…

Rising crude supply from OPEC+ and South America and a marked increase in longer-haul routes have hiked freight rates for supertankers, the so-called very large crude carriers (VLCCs) capable of transporting up to 2 million barrels of oil, to levels la…

The world’s largest independent oil trader, Vitol Group, is in discussions with Iraq to sell crude from Kurdistan when the pipeline flows from the semi-autonomous northern Iraqi region to Turkey resume, sources with knowledge of the talks told Bloomber…

Canadian producers are temporarily shutting in natural gas wellheads amid a record-low negative pricing at the key Alberta gas hub.  The price of natural gas at the AECO Hub, the Canadian benchmark price for natural gas on the Nova Gas Transmission Ltd…

French LNG terminals operator Elengy has issued force majeure notices to customers that its three import facilities in France will not be receiving cargoes until October 2 due to a prolonged strike, a company spokesperson told Reuters on Friday.  Franc…

The era of falling breakeven costs in the U.S. shale patch may soon come to an end, and a new era of higher costs and depleted core inventory could reduce America’s sway in meeting the global demand growth. That’s the latest take from analytics firm En…

Iraq expects crude oil exports from the semi-autonomous region of Kurdistan via pipeline to Turkey to resume this week, Iraqi Foreign Minister Fuad Hussein has told Bloomberg in an interview.  Oil exports from Kurdistan have been halted for two and a h…

Iraq expects crude oil exports from the semi-autonomous region of Kurdistan via pipeline to Turkey to resume this week, Iraqi Foreign Minister Fuad Hussein has told Bloomberg in an interview.  Oil exports from Kurdistan have been halted for two and a h…

Eni has completed the sale of 30% in the giant operational Baleine oil and gas project offshore Cote d’Ivoire to the world’s biggest independent oil trader, Vitol, the Italian energy major said on Thursday.  The Baleine project is Cote d’Ivoire’s main …

Petrobras moved a step closer to obtaining a license to drill in an environmentally sensitive offshore region in the Amazon basin after the Brazilian environmental agency approved test assessments made by Brazil’s state oil and gas giant in the area.  …

  The U.S. Administration is increasingly looking to have a direct equity involvement in America’s critical minerals supply chain, in the race to close the gap with the world’s dominant holder of supply of critical metals and rare earth elements, China…

Turkey’s state energy company, BOTAS, has signed a landmark 20-year U.S. LNG supply agreement with Mercuria, anchoring Ankara’s strategy to reduce dependency on pipeline gas and reposition itself as a regional hub, according to the Daily Sabah.  The de…

The U.S. LNG export boom could soon face challenges by the end of the decade, both at home and on the international market. Huge export capacity additions, mostly in the United States and Qatar, are set to tip the global LNG market into an oversupply a…

Russia is considering extending its current ban on exports of gasoline and introducing a ban on diesel exports as fuel shortages have emerged amid intensified Ukrainian drone attacks on Russian refineries and other energy infrastructure. The government…

As the United States is pressuring Europe to cut off energy revenues for Russia, the European Union took a step to bring forward a ban on imports of Russian LNG a year earlier than planned. The European Commission on Friday proposed its 19th sanctions …

Top natural gas producers and pipeline operators expect the industry and various U.S. states to accelerate approval and development of natural gas infrastructure in the new normal American electricity market of rising demand and consumer bills.   Ameri…

Iraq has boosted its oil exports as part of the gradual rollback of voluntary production cuts agreed under the OPEC+ alliance, the country’s state oil marketer SOMO confirmed on Sunday. According to SOMO’s director general, Ali Nizar Al-Shatari, the in…

The European Commission is set to propose a ban on imports of Russian LNG by January 1, 2027, which would be a year earlier than previously planned, EU sources told Reuters on Friday, as the bloc looks to respond to U.S. pressure to phase out Russian e…

Sweden’s government will ask the Parliament to approve state loans worth $23.4 billion (220 billion Swedish crowns) to companies to build nuclear reactors in the Scandinavian country.   Sweden plans to build two new nuclear reactors by 2035 in a hedge …

As a result, Iraq is now actively seeking alternative solutions for its gas supply, including negotiations for floating regasification terminals to import liquefied natural gas.Iraq’s hopes to boost its natural gas supply and end crippling power shorta…

India will continue to buy Russian crude in the coming months, with active purchases for cargoes loading in November and December, sources familiar with the plans of Indian refiners told Bloomberg. The tensions of the past weeks between the U.S. and In…

The nuclear energy fever has reached Southeast Asia, a region heavily dependent on coal and gas for electricity generation, with no operational nuclear reactors.  As nuclear power has seen a renaissance in many countries, except Germany, in recent year…

The penalties proposed in the European Union’s climate and social responsibility legislation would be bone-crushing to any company, ExxonMobil’s chief executive Darren Woods told Bloomberg.  The EU’s planned Corporate Sustainability Due Diligence Direc…

SAIC Motor, one of China’s biggest state-controlled auto manufacturers, looks to significantly reduce its current 49% stake in its Indian joint venture with India’s JSW Group, Reuters reported on Thursday, quoting sources with knowledge of the plans.  …

Energy security and affordability have trumped fears of stranded assets in recent years, prompting the world’s biggest international oil and gas firms to shift focus back to exploration after years of trying to develop clean energy solutions. Big Oil h…

Colombia’s oil and gas reserves could be revised up this year compared to 2024, but oil output continues to drop amid a hostile climate to oil and gas, social and security issues, and international majors bailing on Colombia. Colombia’s oil production …

The European Union, widely seen as a frontrunner in the energy transition, will miss the deadline set by the United Nations for setting hard, binding emission-reduction targets in line with Paris Agreement stipulations. The reason for this is internal …

Commodity trading giants Vitol and Glencore are set to formally bid to buy Chevron’s 50% stake in a major refinery in Singapore, Reuters reported on Wednesday, citing several sources with knowledge of the plans.  As Chevron is looking to cut costs and …

The United States and Russia continue to discuss economic cooperation, including in the Sakhalin 1 oil project, Russian Deputy Foreign Minister, Sergey Ryabkov, said on Wednesday.  Vladimir Putin’s special envoy for investment and economic cooperation,…

Commodity trading giants Vitol and Glencore are set to formally bid to buy Chevron’s 50% stake in a major refinery in Singapore, Reuters reported on Wednesday, citing several sources with knowledge of the plans.  As Chevron is looking to cut costs and …

Just two months after Canada became an LNG exporter with the launch of LNG Canada, the federal government is betting big on the export facility in British Columbia by including its expansion in the five major projects to diversify Canada’s energy expor…

The global renewable chemicals market, driven by a broad shift toward sustainable alternatives, is projected to grow to a value of $525.8 billion by 2035, according to a recent report from Vantage Market Research. The market, which was valued at $155.3…

The U.S. shale patch is seeing the deepest jobs cuts in three years as producers respond to lower oil prices with slowing drilling activity and greater efficiencies through consolidation and cost cuts. Employment in the industry fell by 1.7% in August,…

Rising costs and uncertain regulatory and demand picture have made low-emission hydrogen projects more challenging and clean hydrogen production by 2030 could be a quarter lower than expected at this time last year, the International Energy Agency (IEA…

Global electric vehicle sales grew by 15% in August from a year earlier, slower than the 27% growth rate in January-July, as EV sales in the biggest market, China, increased by only 6%, data from EV research firm Rho Motion showed on Friday.   China co…

China plans to have its battery storage capacity more than double to 180 gigawatts (GW) by 2027 in a new plan aimed at attracting $35.1 billion (250 billion Chinese yuan), the authorities said on Friday.    The massive deployment of the so-called new e…

Iraq plans to build an oil pipeline to Oman as OPEC’s second-largest producer seeks to boost exports and diversify export routes for its crude out of the Middle East.   Iraq and Oman have reached a preliminary agreement for a pipeline from Iraq to the …

U.S. Energy Secretary Chris Wright blasted net-zero targets as a “colossal train wreck” ahead of his trip to Europe for a gas summit and meetings with EU officials, warning the push for climate policies could weaken energy security and derail a U.S.–EU…

Edison will buy U.S. LNG from 2028 under a 15-year agreement with a Shell subsidiary, as part of boosting Italy’s security of supply, the Italian energy group said on Wednesday.  Edison has signed an agreement with Shell International Trading Middle Ea…

‘Drill, baby, drill’ was just another saying in the U.S. shale patch a few years ago. It was a time when the industry was boosting oil production by about 1 million barrels per day (bpd) each year. Then it became a campaign slogan. Now, it is the offic…

The Public Investment Fund (PIF), Saudi Arabia’s $1-trillion sovereign wealth fund, will unveil by the end of the year its new long-term strategy on how it would support the Kingdom’s economy and diversified it from oil, and increase returns on investm…

Despite recent delays and cancelations of projects, the clean hydrogen industry has surpassed $110 billion in investment in more than 500 projects that have moved past the final investment decision, a new report by the Hydrogen Council showed on Tuesda…

China and the West have taken their competition to secure critical minerals to a new battleground—central and southern Africa, where the race to secure critical routes to move the critical metals to demand markets is in full swing. The United States, J…

Saudi Arabia has once again reduced the price of crude oil it sells to Asia, with the premium for the flagship Arab Light at $2.20 a barrel over the Dubai/Oman benchmark for cargos to be delivered in October. The price cut amounts to $1 per barrel from…

Fermi has filed for a U.S. IPO as demand for artificial intelligence drives a boom in energy-hungry data centers, forcing developers to strike long-term deals for renewable power and nuclear baseload. According to Reuters, the builder, backed by ventur…

Oil prices could fall below $60 per barrel by the end of the year as OPEC+ continues to unwind production, analysts say after the group began rolling back the last layer of output cuts.   On Sunday, the eight OPEC+ producers – Saudi Arabia, Russia, Ira…

Japan has reportedly tapped global consultancy Wood Mackenzie to study the long-proposed Alaska LNG pipeline and export terminal, signaling Tokyo is taking a closer look at whether to back a $44 billion megaproject long championed by Washington. Two so…

EU carmakers will sell about 2 million fewer electric vehicles than previously expected, due to the more flexible EU regulations on emission standards for 2025, green group Transport & Environment said in new research on Monday.   Earlier this year, un…

China has boosted investments in Brazil to new highs, betting on key industries in South America’s biggest economy.  Renewables, oil and gas, mining, and manufacturing took the lion’s share of Chinese investments in Brazil in 2024, a new report by the …

Poland will look to extend the current cap on power prices through the end of the year, Energy Minister Milosz Motyka said on Friday, removing a key uncertainty about Poland’s inflation trend and interest rates.  The Polish government will seek to exte…

India will continue buying crude from Russia as it looks to cater to its interests, Indian Finance Minister Nirmala Sitharaman said on Friday, amid U.S. pressure over India’s Russian crude purchases.  “Where we buy our oil from, especially a big-ticket…

Canada’s government will not continue Trudeau’s policy mandating at least 20% electric vehicle sales from automakers as of the model year 2026, as Mark Carney’s new cabinet is looking to protect the auto industry that has been hit by the U.S. trade pol…

India’s top refiner, Indian Oil Corporation Ltd (IndianOil), has forgone buying U.S. crude at this week’s tender, instead opting for Middle Eastern and West African crude, sources in the oil trade industry told Reuters on Friday. At the previous tender…

Crude oil prices are continuing their slide, on course to end the week with a loss that reversed two weeks of gains. The downturn, which began on Wednesday and extended into Friday, has been exacerbated by reports that OPEC+ is actively considering ano…

American LNG exports hit a monthly record in August as newly started-up projects gradually ramp up output and shipments, and facilities ended planned maintenance.  The August record will be beaten very soon as new export projects are close to launch an…

Russia’s top oil producer, state-controlled Rosneft, has signed a deal to supply additional pipeline volumes of crude to China via Kazakhstan during Vladimir Putin’s visit to Beijing earlier this week, Russian Energy Minister Sergei Tsivilev said on Th…

A potential return of U.S. supermajor ExxonMobil to Russian operations would be beneficial for the region of Sakhalin in Russia’s Far East and help Russia’s energy sector, Sakhalin’s governor Valery Limarenko has told Reuters.  Ahead of the Trump-Putin…

Russia and China used a Eurasian summit this week to manifest closer ties in defiance of the U.S., pledging increased cooperation and signing about two dozen agreements, including in the energy sector.  During the Shanghai Cooperation Organization (SCO…

Shell has abandoned plans to proceed with the construction of a biofuels facility at its Shell Energy and Chemicals Park in Rotterdam, amid challenging market conditions that makes the project uncompetitive.  Shell’s subsidiary Shell Nederland Raffinad…

Shell has abandoned plans to proceed with the construction of a biofuels facility at its Shell Energy and Chemicals Park in Rotterdam, amid challenging market conditions that makes the project uncompetitive.  Shell’s subsidiary Shell Nederland Raffinad…

Oil prices slumped by 2% early on Wednesday as the market turns its attention to this weekend’s OPEC+ meeting, at which the group may decide to tap the last remaining production cuts and raise output from October even further.  In the early morning ET …

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 622,000 barrels in the week ending August 22. Analysts had expected a 3.4-million-barrel draw. So far this year, crude oil inventories are up 7.4 m…

ConocoPhillips will reduce its workforce by 20–25% as part of a broad reorganization announced to employees this week, according to a new Reuters report. The company said reductions will occur across functions and geographies, with further details to b…

America’s electric utilities are preparing for the surge in electricity demand coming with the data centers powering AI. Utilities have increased investments as they see unprecedented demand growth in the coming years after two decades of flat U.S. ele…

America’s electric utilities are preparing for the surge in electricity demand coming with the data centers powering AI. Utilities have increased investments as they see unprecedented demand growth in the coming years after two decades of flat U.S. ele…

The U.S. Treasury Department on Tuesday rolled out new sanctions against a shipping network accused of smuggling Iranian crude under the cover of Iraqi origin, part of Washington’s broader effort to choke off Tehran’s oil revenues. The network is led b…

Russia’s gas giant Gazprom on Tuesday signed an agreement with China’s state energy firm CNPC to build a second huge natural gas pipeline from Russia to China, Gazprom’s CEO Alexey Miller said.  Russia bets on selling increased volumes of energy produc…

Russia’s gas giant Gazprom on Tuesday signed an agreement with China’s state energy firm CNPC to build a second huge natural gas pipeline from Russia to China, Gazprom’s CEO Alexey Miller said.  Russia bets on selling increased volumes of energy produc…

Russia’s gas giant Gazprom on Tuesday signed an agreement with China’s state energy firm CNPC to build a second huge natural gas pipeline from Russia to China, Gazprom’s CEO Alexey Miller said.  Russia bets on selling increased volumes of energy produc…

Brazil wants a seat at the International Energy Agency’s table, filing a formal request this week to move from partner status to full membership. On Tuesday in Paris, Brazil’s ambassador delivered a letter from Foreign Affairs Minister Mauro Vieira and…

Japan marked a significant milestone in its journey toward net-zero in the first half of the year; for the first time ever, fossil fuels accounted for less than 60% in Japan’s electricity generation.  However, dependence on oil, gas, and coal imports i…

Russia kept its number-one spot as the biggest crude oil supplier to India in July, despite U.S. pressure on India over its continued imports of Russian crude.   Amid difficult U.S.-India trade talks, the Trump Administration has singled out India to p…

According to a report by Reuters, Saudi Aramco and Iraq’s SOMO have stopped supplying crude to Nayara Energy’s refinery in Gujarat after the European Union sanctioned the Indian company in July, citing its 49% ownership by Russia’s Rosneft. People fami…

The U.S. shale patch is trimming capital expenditure budgets to preserve cash amid the lower oil prices. American producers could further cut back on spending and activity if the prevailing forecasts of a global oversupply materialize in the coming mon…

When the Taliban retook control over Afghanistan four years ago, China was quick to sign an oil field development deal to extract crude in the central Asian country and boost its footprint and influence there.  But the oil deal, signed in 2023 by the T…

Rosneft (MCX: ROSN) reported a steep 68% drop in first-half 2025 net income as falling oil prices, widening discounts on Russian crude, and a stronger ruble weighed heavily on earnings, despite steady production and continued investment in flagship pro…

When the Taliban retook control over Afghanistan four years ago, China was quick to sign an oil field development deal to extract crude in the central Asian country and boost its footprint and influence there.  But the oil deal, signed in 2023 by the T…

Voters in Guyana, one of the world’s fastest growing economies thanks to its oil riches, are heading to the polls on September 1 to elect new parliament and president, with current President Irfaan Ali seeking a second and final term in office.   Ali a…

Previously rejected MEG Energy bidder Strathcona Resources intends to buy an additional 5% stake in MEG and vote these shares and the existing 9.2% stake against the Cenovus acquisition offer for MEG, as the latest major Canadian deal faces hurdles tow…

Amid lower oil prices this year, the U.S. shale patch is in a wait-and-see mode, expecting to ride the price decline with minimal tweaks to strategies. U.S. oil producers are trimming capital expenditure budgets, relying on efficiency gains from curren…

China boasts leadership in the global push toward clean energy—and rightly so. Its electric vehicle sales are surging and already outselling conventional cars, while no country is close to the massive Chinese investment in renewable energy and storage,…

Over the past decade, the United States has become the world’s biggest crude oil producer and the top LNG exporter—all thanks to the shale boom. Fracking has boosted U.S. oil and gas production to record highs and significantly raised America’s oil and…

Crude oil trade has started to see the effect of a recent ban by the United Arab Emirates (UAE) on cargoes originating from Sudan, after the two countries severed ties earlier this year.    In May this year, Sudan severed ties with the UAE, having repe…

Plutonium material from dismantled U.S. nuclear warheads from the Cold War could be offered to American power firms as a fuel to potentially use in advanced nuclear technologies, under a draft plan of the Trump Administration.    The U.S. does not use …

Kazakhstan insists that the international oil majors pay a hefty $4.4 billion fine for sulfur pollution despite a court win for Big Oil earlier this month. At the beginning of August, a Kazakh appellate court sided with the international oil majors ope…

Trade uncertainty and tariffs are prompting America’s battery makers and battery material manufacturers to expand overseas to have production sites in the biggest demand centers now that clean energy isn’t a favorite with the U.S. Administration.      …

Crude oil prices started the week with gains following the U.S. Federal Reserve chairman’s speech last Friday, which revived hopes for more rate cuts later this year as well as Ukrainian attacks on Russian energy infrastructure. At the time of writing,…

The U.S. dollar edged higher in early Asian trading on Monday, attempting to recover from a four-week low against the euro after Federal Reserve Chair Jerome Powell signaled a potential pivot toward rate cuts. The greenback gained 0.2% to $1.1699 per e…

Shares in Ørsted tumbled to their lowest level on record on Monday as investor concerns about the world’s biggest offshore wind project developer grew following a stop-work order on a nearly completed project from the U.S. Administration.   Ørsted (CPH…

China’s thermal coal imports are set for a substantial rise this month, reaching 25.63 million tons, which would be the highest monthly increase since last December, Kpler reported, as cited by Reuters’ Clyde Russell. The estimated August total would c…

The United States has sanctioned a Greek shipping entrepreneur, a network of his companies, and two Chinese crude oil terminal and storage operators as the Treasury is taking additional actions to disrupt Iranian oil exports and the shadow fleet enabli…

The United States has sanctioned a Greek shipping entrepreneur, a network of his companies, and two Chinese crude oil terminal and storage operators as the Treasury is taking additional actions to disrupt Iranian oil exports and the shadow fleet enabli…

The United States has sanctioned a Greek shipping entrepreneur, a network of his companies, and two Chinese crude oil terminal and storage operators as the Treasury is taking additional actions to disrupt Iranian oil exports and the shadow fleet enabli…

Global crude oil exports continue to hold strong and above the latest ten-year seasonal average. Demand, however, is also holding strong this summer, absorbing an increase in South American supply led by Brazil and Guyana, and production hikes in the M…

Strategic acquisitions of premier assets and the drive for efficiency and scale led to a stellar year for mergers and acquisitions in the U.S. oil and gas industry in 2024. Following a 331% surge in deal value to $206.6 billion last year, the number of…

U.S. oilfield services provider Weatherford International has expanded its business in Russia despite EU and U.S. sanctions on the country’s energy industry, the Financial Times has reported, citing financial performance figures for the company. In the…

Mexico is betting on ‘complex geology’ development to reverse the fortunes of its state-owned oil and gas giant Pemex, which has been struggling with declining production and enormous debts in recent years. A return to unconventional exploration could …

China has boosted imports of Russia’s flagship Urals crude, as refiners buy additional volumes of discounted oil while India is hesitant amid U.S. threats over its purchases of Russian oil. China is the top buyer of Russian crude, but most of its impor…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell this week, shrinking by 2.4 million barrels in the week ending August 15. Analysts had expected a 1.2-million-barrel draw. So far this year, crude oil…

Top U.S. and Iraqi officials have discussed the potential resumption of oil exports from Iraq’s semi-autonomous region of Kurdistan and the role of the U.S. oil companies operating in the country, the Iraqi foreign ministry said on Monday. Oil exports …

Angola is betting big on natural gas developments as a short-term increase in oil production is not expected to last despite the West African country leaving OPEC over capped production.   Companies operating in Angola have recently started up two oil …

Northwest Colorado and southwest Wyoming have an estimated 3 million barrels of oil and 666 billion cubic feet of gas that are recoverable, the United States Geological Survey (USGS) said in a recent assessment. The Phosphoria Total Petroleum System, w…

The amount of crude oil going into storage in China has declined from 1.42 million barrels daily in June to 530,000 barrels daily in July, suggesting a pick-up in demand, as reported by Reuters’ Clyde Russell. Refinery rates went up to 14.85 million ba…

The amount of electricity produced from solar installations in the UK since the start of the year has topped the 2024 total, the Financial Times has reported, citing analysis of data from the University of Sheffield. The total amount of electricity gen…

Chinese oil refining throughput jumped by 9% in July from a year earlier amid higher utilization capacity at state-owned refiners, according to official data released on Friday.  Chinese refiners processed 14.85 million barrels per day (bpd) of crude o…

India is launching a national deepwater exploration mission to tap more of its energy resources, boost domestic energy supply, and reduce dependence on imports, Prime Minister Narendra Modi said on Friday. “India will harness its deepwater energy resou…

Soaring crude oil supply will lead to a record glut later this year and in early 2026 as demand growth will continue to disappoint, according to the International Energy Agency (IEA). The agency has now downgraded its expectations of global oil demand …

The oil price structure has started to slowly shift as prompt futures premiums are softening compared to later-dated contracts, signaling that the market believes supply would be plentiful as soon as peak summer travel season ends.  The rise in supply …

India’s state-owned refiners, which paused Russian crude buying a few weeks ago, have now started to inquire traders about potential purchases of the flagship Russian crude Urals, sources familiar with the development told Reuters on Thursday. The bigg…

The owner of British Gas, Centrica, has partnered with investment firm Energy Capital Partners LLP to buy the UK’s largest LNG import terminal at the Isle of Grain for an enterprise value of $2 billion (£1.5 billion).  Centrica and Energy Capital Partn…

Western governments have recognized the need to intervene and safeguard their existing critical minerals supply chain from extinction in a market heavily dominated by China.   Even more efforts will be needed in the West to establish new manufacturing …

The U.S. Department of Energy has announced close to $1 billion in funding opportunities for stimulating domestic mining, processing, and manufacturing ventures involving critical minerals in a bid to reduce the country’s dependence on imports. About h…

The Saudi Private Investment Fund has written down $8 billion from the value of the Saudi state’s megaprojects over the past year as they struggle to move forward amid budget overruns combined with weaker oil prices. According to a Financial Times repo…

Indian state-owned Oil and Natural Gas Corporation Limited (ONGC), the biggest oil and gas explorer and producer in the country, booked a lower net profit for the April-June quarter from a year earlier on the back of falling oil prices and basically fl…

Nayara Energy, the Indian refiner in which Russia’s oil giant Rosneft holds 49%, is set to import in August the lowest volume of crude ever as the EU sanctions cripple procurement plans and sales of refined petroleum products. Nayara Energy is expected…

After years of public vows to wean themselves off fossil fuels, the world’s biggest oil companies are dusting off their drilling maps and doubling down on exploration. The promised pivot to renewables has sputtered, energy security fears have sharpened…

The world’s biggest sovereign wealth fund, Norway’s $1.9 trillion oil fund, cut its equity stakes in the biggest international oil and gas companies in the first half of the year as oil prices fell.    Government Pension Fund Global, which is commonly …

TotalEnergies is proposing to drill up to 7 exploration wells offshore South Africa, in the Orange Basin straddling South African and Namibian waters in southwest Africa.   With the planned campaign offshore South Africa, which still needs environmenta…

The world’s biggest sovereign wealth fund, Norway’s $1.9 trillion oil fund, cut its equity stakes in the biggest international oil and gas companies in the first half of the year as oil prices fell.    Government Pension Fund Global, which is commonly …

Brazil’s state-controlled oil giant Petrobras sneezed at the end of last week, and the domestic stock market caught a cold. Despite returning to a profit for the second quarter of the year, Petrobras dashed hopes of an extraordinary dividend for this y…

India could see spikes in power prices in the coming weeks as supply will be constrained and procurement costs will rise with the shutdown of a unit at the country’s largest nuclear power plant for maintenance.  India has now shut the 1-GW Unit 1 at th…

President Donald Trump has nominated economist EJ Antoni, a prominent figure at the conservative Heritage Foundation, to serve as commissioner of the U.S. Bureau of Labor Statistics (BLS). The move comes just ten days after Trump abruptly dismissed for…

Ford will invest $5 billion in the production of a new line of EVs and batteries, despite the Trump administration’s removal of EV subsidies. The carmaker said the investment, in its Louisville assembly plant and the BlueOval battery park in Michigan, …

The U.S. LNG export boom, strongly supported by the Trump Administration, could be undermined by separate trade rules proposed by the very same administration, which looks to revive America’s shipbuilding to counter China’s dominance. Under new mandate…

Continued weaker demand for hybrid vehicles slowed the growth in China’s new energy vehicles to 12% in July from nearly 20% in June, according to official Chinese data published on Friday. Overall Chinese car sales also saw slowing growth last month, a…

Continued weaker demand for hybrid vehicles slowed the growth in China’s new energy vehicles to 12% in July from nearly 20% in June, according to official Chinese data published on Friday. Overall Chinese car sales also saw slowing growth last month, a…

Fortescue has secured a Chinese yuan-denominated loan of about $2 billion (14.2 billion yuan) as Australia’s energy and metals group is betting on increased collaboration with China in green energy after halting clean energy projects in the U.S. and Au…

Russia’s Urals crude grade, which usually goes from the western Russian ports to India, is now being offered at discounts in China amid uncertainties over Indian purchases of Moscow’s oil following the additional tariffs.  Spot Urals shipments going to…

Argentina’s booming Vaca Muerta shale play isn’t immune to the decline in oil prices and company spending this year. Drilling activity is set for a near-term slowdown as foreign firms and the biggest domestic producer YPF SA are pulling out some frac c…

Reliance Industries, the top private refiner in India, has warned in its annual report that tariff uncertainties and geopolitical events could affect global crude oil flows and oil market balances.  “Continuing geopolitical and tariff-related uncertain…

Reliance Industries, the top private refiner in India, has warned in its annual report that tariff uncertainties and geopolitical events could affect global crude oil flows and oil market balances.  “Continuing geopolitical and tariff-related uncertain…

As delegates from 184 countries begin talks in Geneva on a global treaty to curb plastic waste and pollution, the negotiations that began in 2022 are nowhere close to an agreement. Geneva hosts the second part of the fifth session of the Intergovernmen…

Crude oil exports from Iraq’s semi-autonomous region of Kurdistan to a Turkish Mediterranean port will resume either on Wednesday or Thursday, the federal Iraqi Oil Minister, Hayan Abdul Ghani, told state news agency INA today.  Abdul Ghani was visitin…

OPEC+ will complete the unwinding of its largest production cut next month after agreeing this weekend to boost output by 547,000 barrels per day (bpd) in September in a move that was widely expected by the market and oil industry analysts. What’s next…

ExxonMobil and the government of Trinidad and Tobago have agreed terms under which the Caribbean nation will award seven ultra-deep exploration blocks to the U.S. supermajor, senior government officials familiar with the talks told Reuters on Tuesday. …

The green hydrogen drive is losing momentum as start-ups face rising costs and uncertain demand while energy majors back out of multi-billion-dollar projects as they return to their core oil and gas business.   Low-emissions hydrogen, including the “gr…

A group of U.S. investors is in talks with the Bulgarian government to acquire a minority stake in the Chiren underground gas storage facility, the country’s only such site and a key regional hub for balancing and reverse flows across southeastern Euro…

The European Union’s drive to replace Russian energy imports within two years, boost renewable energy rollout, and meet net-zero goals has put it in a position to become even more dependent on the two antagonistic global powers, the United States and C…

Chevron Corporation (NYSE: CVX) beat Wall Street estimates of its second-quarter profit as Permian production surged and U.S. and worldwide oil and gas output jumped to record highs.   Chevron reported on Friday adjusted earnings of $3.1 billion, or $1…

While Indian refiners are scrambling to understand the implications of President Trump’s threatened “penalties” on India for buying Russian oil, at least four tankers carrying crude cargoes from Russia were staying idle off India’s west coast on Friday…

While Indian refiners are scrambling to understand the implications of President Trump’s threatened “penalties” on India for buying Russian oil, at least four tankers carrying crude cargoes from Russia were staying idle off India’s west coast on Friday…

While watching summer demand and OPEC+ production policy, the oil market has started to pay attention to President Trump’s threats to hit Russian oil buyers with secondary tariffs. Earlier this week, President Trump threatened “tariffs and stuff” if Ru…

New Zealand reopens for oil and gas exploration after the country’s Parliament on Thursday voted to repeal a 2018 ban on offshore resource drilling.  Back in 2018, the center-left government of former Prime Minister Jacinda Ardern banned offshore oil a…

New Zealand reopens for oil and gas exploration after the country’s Parliament on Thursday voted to repeal a 2018 ban on offshore resource drilling.  Back in 2018, the center-left government of former Prime Minister Jacinda Ardern banned offshore oil a…

Saudi Arabia’s economy expanded by nearly 4% in the second quarter from a year earlier, thanks to rising non-oil economic growth and the return of growth in the oil sector as the Kingdom is boosting its crude production.  Real gross domestic product (G…

China’s undisputed leadership in electric vehicle sales and renewable energy expansion has come at a cost for numerous companies that have been running a race to the bottom in recent years. The surge in EVs and solar and wind power installations has re…

Microsoft has restored its services to Indian refiner Nayara Energy, which was hit by EU sanctions earlier this month due to Russia’s oil giant Rosneft owing a large stake in the Indian company.  Two weeks ago, the EU adopted the 18th sanctions package…

While many analysts said that the latest EU sanctions against Russia would be moot without U.S. support, one Indian refiner partly owned by Russia’s oil giant Rosneft has been hit hard by the EU measures against Russian oil customers.  India-based Naya…

Kazakhstan and Turkey discussed a potential increase of Kazakh oil exports via the Baku-Tbilisi-Ceyhan (BTC) oil pipeline to Turkey during the visit of Kazakhstan’s President Kassym-Jomart Tokayev to Ankara.  Tokayev and his Turkish counterpart Recep T…

The U.S.-EU trade deal calls for the European Union buying $250 billion worth of American energy every year over the next three years. While additional U.S. energy supply would further help the bloc on its path to ditch Russian energy imports within a …

Turkey wants Iraq to ensure that the oil pipeline from the semi-autonomous Iraqi region of Kurdistan to the Turkish port of Ceyhan on the Mediterranean is utilized to its capacity as Ankara and Baghdad are discussing terms of extending the pipeline agr…

Electricity generation in the United States hit a record high in the first half of the year, as power demand is growing with data center expansion. Electricity provided by utilities in the U.S. rose by 4% in January to June, to an all-time high of 2,18…

The EU’s solar power market is set to register this year its first annual decline in capacity rollout since 2025, amid the withdrawal of incentive schemes for rooftop solar in key markets, industry association SolarPower Europe said in a mid-year analy…

A House committee has approved a bill that the U.S. withdraw its funding to the International Energy Agency as the Republican lawmakers consider that the IEA has strayed from its mission to safeguard energy security and has been pushing green energy po…

Although the outlook on oil prices and demand has become increasingly uncertain in recent months, analysts continue to recommend the underperforming energy stocks as a good bet for investors. Energy has the highest share of the stocks with “buy” recomm…