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Oil Prices Rise As Crude Oil Inventories Build, Products Fall

Oil Prices Rise As Crude Oil Inventories Build, Products Fall

Sep 26, 2023 at 15:48 | Julianne Geiger

The American Petroleum Institute (API) has reported a build of 1.586 million barrels in U.S. crude inventories, compared to last week’s large 5.25-million-barrel…

Study Says EU Could Scale Blue Hydrogen Faster Than Green Alternative

Study Says EU Could Scale Blue Hydrogen Faster Than Green Alternative

Sep 26, 2023 at 10:46 | Charles Kennedy

Blue hydrogen, the one made by reforming natural gas using carbon capture, would be a more cost-effective solution for the EU compared to the so-called green hydrogen made from water…

Energy Transfer LP Shuts Ruptured Oil Pipeline In Permian

Energy Transfer LP Shuts Ruptured Oil Pipeline In Permian

Sep 26, 2023 at 10:29 | Julianne Geiger

Energy Transfer LP shuttered its Centurion Pipeline on Monday after it was struck by a road worker, the pipeline company said in an email to Bloomberg. Energy Transfer LP

Russia’s Crude Oil Exports Drop Amid Terminal Maintenance

Russia’s Crude Oil Exports Drop Amid Terminal Maintenance

Sep 26, 2023 at 09:11 | Charles Kennedy

Due to port maintenance works, Russian crude oil exports by sea dipped by around 100,000 barrels per day (bpd) to 3 million bpd last week and by 100,000…

IEA Says No New Major Fossil Fuel Projects Needed In Net Zero Scenario

IEA Says No New Major Fossil Fuel Projects Needed In Net Zero Scenario

Sep 26, 2023 at 08:13 | Charles Kennedy

The world would not need any new long lead-time conventional oil and gas projects or coal mines approved after 2023 as the surge in clean energy deployment could…

China Considers New Fees To Compensate Utilities For Building Coal Plants

China Considers New Fees To Compensate Utilities For Building Coal Plants

Sep 26, 2023 at 07:37 | Tsvetana Paraskova

China is mulling over imposing capacity fees on industrial and commercial users from 2024 to compensate local utilities for the coal-fired power capacity they have built in recent…

Court Upholds Order To Expand Oil And Gas Lease Sale In The Gulf Of Mexico

Court Upholds Order To Expand Oil And Gas Lease Sale In The Gulf Of Mexico

Sep 26, 2023 at 05:46 | Tsvetana Paraskova

The 5th U.S. Circuit Court of Appeals in New Orleans has upheld a lower court’s order that the U.S. Administration should hold an expanded oil…

Ford Halts Construction At $3.5-Billion EV Battery Plant In Michigan

Ford Halts Construction At $3.5-Billion EV Battery Plant In Michigan

Sep 26, 2023 at 04:35 | Tsvetana Paraskova

Ford Motor Company has announced it is halting construction works at a planned $3.5-billion EV battery factory in Michigan until it is confident the plant…

Goldman Sachs Ignores Activist Call To Abandon Oil And Gas

Goldman Sachs Ignores Activist Call To Abandon Oil And Gas

Sep 26, 2023 at 03:16 | Irina Slav

The chief executive of Goldman Sachs has refused to yield to pressure from climate activists calling for the bank to stop financing oil and gas companies. “Traditional energy…

Trans Mountain Oil Pipeline Back On Track As Regulator Approves Route Change

Trans Mountain Oil Pipeline Back On Track As Regulator Approves Route Change

Sep 26, 2023 at 02:32 | Irina Slav

The Canada Energy Regulator has approved a plan by Trans Mountain Corporation to alter the route of the expanded pipeline that carries crude from Alberta to the West…

France Announces Ambitious Plan To Cut Hydrocarbon Dependence And Emissions

France Announces Ambitious Plan To Cut Hydrocarbon Dependence And Emissions

Sep 26, 2023 at 01:19 | Irina Slav

Emmanuel Macron has announced a plan to reduce the dependence of France on oil, gas, and coal and reduce national emissions by 55% from 1990 levels by 2030. To…

Occidental Won’t Increase Oil Output Despite Soaring Crude

Occidental Won’t Increase Oil Output Despite Soaring Crude

Sep 25, 2023 at 16:24 | Charles Kennedy

Occidental Petroleum Corp. will not be increasing oil output, with its CEO saying that the recent surge in oil to above $90 per barrel is happening without balance in the…

Chevron Getting Ready For New Oil Drilling In Venezuela

Chevron Getting Ready For New Oil Drilling In Venezuela

Sep 25, 2023 at 11:28 | Charles Kennedy

As Chevron scrambles to recoup some $3 billion in losses over its Venezuela oil projects, the U.S. oil giant is now gearing up to launch a new drilling…

Tajikistan Promises Green Hydrogen Production

Tajikistan Promises Green Hydrogen Production

Sep 25, 2023 at 10:26 | Charles Kennedy

Tajikistan—a nation heavily dependent on crude oil imports—is looking to develop its green hydrogen industry, with a goal of producing 1 million tons of hydrogen by 2040, the country’s Minister…

Egypt Seeks Exploration Bids For 23 Oil And Gas Blocks

Egypt Seeks Exploration Bids For 23 Oil And Gas Blocks

Sep 25, 2023 at 09:13 | Charles Kennedy

Egypt launched on Monday an international bidding round for oil and gas exploration in 23 onshore and offshore blocks, the Ministry of Petroleum and Mineral Resources said

Lego Abandons Plans To Make Bricks From Recycled Plastic Bottles

Lego Abandons Plans To Make Bricks From Recycled Plastic Bottles

Sep 25, 2023 at 08:31 | Charles Kennedy

Danish toy maker Lego is abandoning the idea of making its famous bricks out of recycled plastic instead of from oil-based products, after finding that the recycled material…

The Spread Between Brent And WTI Has Aligned With Transatlantic Freight Costs

The Spread Between Brent And WTI Has Aligned With Transatlantic Freight Costs

Sep 25, 2023 at 07:39 | Charles Kennedy

The cost of transporting U.S. crude from the Gulf Coast to Europe has been increasingly determining the discount at which the U.S. benchmark WTI trades relative to the…

Russia Lifts Ban On Low-Quality Diesel Exports

Russia Lifts Ban On Low-Quality Diesel Exports

Sep 25, 2023 at 07:29 | Tsvetana Paraskova

On Monday, Russia tweaked its export limitations on fuels, lifting the temporary ban on exports of low-quality diesel and marine fuel. At the end of…

U.S. Energy Storage Additions Hit A Record-High In Q2

U.S. Energy Storage Additions Hit A Record-High In Q2

Sep 25, 2023 at 05:32 | Tsvetana Paraskova

U.S. developers added 5,597 megawatt hours (MWh) of energy storage installations in the second quarter of 2023, setting a new quarterly record and putting the American energy storage…

Harold Hamm Calls For Consistency In U.S. Oil And Gas Regulation

Harold Hamm Calls For Consistency In U.S. Oil And Gas Regulation

Sep 25, 2023 at 05:02 | Tsvetana Paraskova

Shale pioneer Harold Hamm, the founder of Continental Resources, has called for the uncertainty in U.S. oil and gas regulations to end so that the industry can have…

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