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Breaking News:

Asian Oil Imports Dropped in April

Energy

Carbon-Eating Bacteria May Hold The Key To Decarbonization

May 02, 2024 at 15:18 | Tsvetana Paraskova

A U.S.-based biotechnology firm is using carbon-eating bacteria to turn emissions from steel mills, refineries, and other heavily polluting industrial processes into ethanol and chemicals, helping reduce carbon emissions and…

Aramco Leads Oil Industry Investment in AI

May 02, 2024 at 12:13 | Irina Slav

Saudi Aramco is the biggest investor in artificial intelligence in the oil industry. The fact was recently revealed in a report by GlobalData, which also showed the Saudi state…

Cash-flush Oil Industry Has Less Appetite For Debt

May 02, 2024 at 11:08 | Irina Slav

Last year, profits in the oil industry were noticeably lower than in the previous year. Pretty much everyone in oil and gas booked a decline in the bottom line…

Fossil Fuel Companies Face Mounting Legal Challenges

May 02, 2024 at 08:59 | Felicity Bradstock

A wide range of organisations and communities are battling against oil majors and winning, as governments worldwide start putting the environment first. In the last few years, the number of…

Clean Energy Sector Ignoring Growing Cybersecurity Threat, Experts Warn

May 02, 2024 at 08:57 | Haley Zaremba

The looming threat of cyberattacks from China is intensifying in the United States. Already, incidences of attacks from Chinese spy agencies are increasing in the West, and Beijing…

Plasma Physicists Use Magnetic Imperfections to Enhance Fusion Reaction

May 02, 2024 at 08:50 | Brian Westenhaus

Princeton Plasma Physics Laboratory (PPPL) idea follows the Japanese art of kintsugi, an artist takes the broken shards of a bowl and fuses them back together with…

Turkmenistan Tops Russia in Gas Export Earnings to China

May 02, 2024 at 08:47 | Eurasianet

  Russia’s energy behemoth Gazprom announced with great fanfare in early 2024 that it had overtaken Turkmenistan as China’s largest supplier of natural gas in terms of volume.…

Exxon's $60 Billion Pioneer Deal Set to Create Energy Supergiant

May 02, 2024 at 08:44 | ZeroHedge

Having adversely intervened in virtually every other M&A deal in the past 3 years, the Biden FTC will reportedly allow Exxon's $60 billion purchase of Pioneer to go…

UAE Quietly Boosts Oil Production Capacity Ahead of OPEC Meeting

May 02, 2024 at 08:11 | Julianne Geiger

The United Arab Emirates state-owned oil company, Adnoc, has updated its maximum crude oil production capacity figure—and without much fanfare. ADNOC has quietly updated the figure on its 

The Next Two Months Will Be Critical For Oil Fundamentals

May 01, 2024 at 17:21 | Alex Kimani

Energy markets have kicked off the new month on the back foot, with oil prices sliding 3% in Wednesday’s intraday session following a surprise U.S. inventory build amid lingering uncertainty…

Will Big Oil See Better Earnings In Q2?

May 01, 2024 at 15:26 | Alex Kimani

We are nearly halfway through the earnings season, with 46% of S&P 500 companies having returned their first quarter scorecards. According to FactSet data, 77% of S&P 500 companies…

The Permian Shrugs Off Below-Zero Natural Gas Prices in Texas

May 01, 2024 at 10:51 | Tsvetana Paraskova

Permian producers are not shutting in oil wells with associated natural gas despite the fact that the Texas regional gas price has been stuck at below-zero levels since early March.…

The Cold Hard Truth About Renewable Energy Adoption

May 01, 2024 at 09:41 | Haley Zaremba

The future of the global energy sector is caught up in a messy and misleading ideological debate. Depending on which politically informed echo chamber one inevitably finds themself confined to…

Large Crude Inventory Build Rocks Oil Prices

May 01, 2024 at 09:37 | Irina Slav

Crude oil prices went lower today after the U.S. Energy Information Administration reported an inventory increase of 7.3 million barrels for the week to April 26. This compared with…

Breakthrough in Magnet Modeling Paves Way for Sustainable Energy Applications

May 01, 2024 at 09:31 | Brian Westenhaus

National Institute for Materials Science, Japan scientists have succeeded in simulating the magnetization reversal of Nd-Fe-B (neodymium iron boron) magnets. The simulation was made possible…

Russian Uranium Import Ban Sends Shockwaves Through Energy Markets

May 01, 2024 at 09:17 | ZeroHedge

With shares of CCJ tumbling earlier today after the company reported soggy Q1 earnings, despite its recent initiating coverage report by an enthusiastic Goldman Sachs which sees the…

The U.S. Supermajors Double Down on World's Top Oil Basins

Apr 30, 2024 at 12:32 | Tsvetana Paraskova

Profits at ExxonMobil and Chevron have dropped compared to the record-highs of the past two years, but the U.S. supermajors are doubling down on oil production from the two most…

WTI Finds Support After Sell Off Suddenly Halts

Apr 30, 2024 at 10:44 | Tom Kool

WTI crude found resistance at $81 per barrel this morning, countering a sell-off as traders discount geopolitical risk.

Biden Aims to Bridge the Decarbonization Divide With $7 Billion Solar Initiative

Apr 30, 2024 at 10:03 | Haley Zaremba

On a global level, rich nations have a greater capacity to transition toward clean technologies and leave cheap and abundant fossil fuels in the ground. Nevertheless, the richest countries are…

Global Upstream M&A Market Poised for $150 Billion Injection in 2024

Apr 30, 2024 at 09:59 | Rystad Energy

After the biggest first quarter for global upstream dealmaking in five years, the industry could see another $150 billion of merger and acquisition (M&A) deals in the remainder…

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