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News

Ukraine Drone Attacks Knock Out 600,000 Bpd of Russian Refining Capacity

Ukraine Drone Attacks Knock Out 600,000 Bpd of Russian Refining Capacity

Mar 19, 2024 at 03:45 | Charles Kennedy

Ukrainian drone attacks on Russian refineries have taken out as much as 600,000 barrels in daily processing capacity, according to commodity trading major Gunvor. “It is significant because obviously this…

Argentina’s Economic Shock Therapy Leads Enel to Delay Sale of Power Distributor

Argentina’s Economic Shock Therapy Leads Enel to Delay Sale of Power Distributor

Mar 19, 2024 at 02:19 | Charles Kennedy

Enel has decided to hold off the sale of a power distribution company it operates in Argentina, as it expects the country’s new president to deregulate the electricity market, making…

Europe Gas Prices To Fall Throughout 2024 Amid High Storage Levels

Europe Gas Prices To Fall Throughout 2024 Amid High Storage Levels

Mar 18, 2024 at 13:16 | Alex Kimani

Gas prices in Europe could plunge as low as $6.70 per million British thermal units (MMBtu) this summer thanks to a mild winter and ample gas inventories, Wood Mackenzie has…

U.S. Gasoline Prices Rise for Third Consecutive Week

U.S. Gasoline Prices Rise for Third Consecutive Week

Mar 18, 2024 at 10:34 | Charles Kennedy

With gasoline demand rising, U.S. gasoline prices increased last week for a third week in a row, up by 4.4 cents from a week ago to an average $3.44…

CNOOC Makes Another Major Oil Discovery Offshore China

CNOOC Makes Another Major Oil Discovery Offshore China

Mar 18, 2024 at 09:32 | Charles Kennedy

CNOOC Limited has made a major oilfield discovery in the Bohai Sea offshore China, with more than 100 million tons of oil equivalent of in-place volume proved, the Chinese state-held…

Nations Divided Over Fees on Shipping Industry Emissions

Nations Divided Over Fees on Shipping Industry Emissions

Mar 18, 2024 at 08:46 | Tsvetana Paraskova

Nearly 50 countries, including the EU, Canada, and Pacific island nations most affected by climate change, are proposing a fee on carbon emissions in the shipping industry, while others are…

China Poised to Import Record-High Crude Oil Volumes From Russia

China Poised to Import Record-High Crude Oil Volumes From Russia

Mar 18, 2024 at 07:34 | Tsvetana Paraskova

China is expected to import record-high oil volumes from Russia in March as the world’s top crude importer is mopping up cargoes shunned by India, Bloomberg reported on Monday,…

Germany Signs LNG Supply Deal With ADNOC

Germany Signs LNG Supply Deal With ADNOC

Mar 18, 2024 at 07:07 | Tsvetana Paraskova

Germany’s state-controlled firm Securing Energy for Europe (Sefe) has signed a deal with ADNOC, under which Abu Dhabi’s national oil company will supply LNG to Germany for 15 years beginning…

Venture Global Buys Nine Vessels to Transport LNG

Venture Global Buys Nine Vessels to Transport LNG

Mar 18, 2024 at 05:43 | Tsvetana Paraskova

Venture Global LNG is buying nine ships to transport liquefied natural gas as it seeks to boost global sales of the super-chilled fuel, the U.S. LNG provider said on…

Oil Prices Continue to Advance as Bullish Sentiment Takes Hold

Oil Prices Continue to Advance as Bullish Sentiment Takes Hold

Mar 18, 2024 at 04:10 | Irina Slav

Crude oil prices held on to their gains from last week, moving higher still in mid-morning trade in Asia today amid continued concern about supply. Last week, an IEA report…

China Launches $4 Billion Power Transmission and Storage Project

China Launches $4 Billion Power Transmission and Storage Project

Mar 18, 2024 at 03:07 | Charles Kennedy

China has started the construction of a $3.9-billion electricity transmission and storage project aimed at enhancing the resilience of its grid, which has come to rely heavily on wind and…

Iran Signs $13 Billion Worth of New Oil Contracts

Iran Signs $13 Billion Worth of New Oil Contracts

Mar 18, 2024 at 02:25 | Irina Slav

Iran has signed new contracts for the development of oil fields worth…

Putin Claims Election Victory as Ukraine Pounds Refineries

Putin Claims Election Victory as Ukraine Pounds Refineries

Mar 18, 2024 at 02:16 | Charles Kennedy

Russian President Vladimir Putin early on Monday declared victory in this weekend’s elections after running virtually unopposed, paving the way for him to serve six more years in office, as…

Bloomberg Survey: Brent To Exceed $80 By Year's End

Bloomberg Survey: Brent To Exceed $80 By Year's End

Mar 15, 2024 at 14:40 | Julianne Geiger

The Brent crude oil benchmark is set to exceed $80 per barrel by the end of this year, according to a new Bloomberg Intelligence oil price survey. The survey showed…

Poland to Sink $16 Billion In Energy Grid to Handle Renewables

Poland to Sink $16 Billion In Energy Grid to Handle Renewables

Mar 15, 2024 at 13:36 | Julianne Geiger

Poland is set to spend $16 billion on upgrading and expanding its power grid to accommodate additional renewable and nuclear capacity, the country’s power grid operator said on Friday. Grid…

Ukrainian Drone Attacks Knock Down 370,500 Bpd of Russia’s Refining Capacity

Ukrainian Drone Attacks Knock Down 370,500 Bpd of Russia’s Refining Capacity

Mar 15, 2024 at 11:09 | Charles Kennedy

Ukrainian drone attacks on Russian oil refineries have knocked down as much as 370,500 barrels per day (bpd) of Russia’s refining capacity so far into the first quarter of the…

Court Halts New Mining Permits in Argentina’s Key Lithium Region

Court Halts New Mining Permits in Argentina’s Key Lithium Region

Mar 15, 2024 at 09:17 | Charles Kennedy

A local court in Argentina has suspended new lithium mining permits in the Catamarca province in the northwest, home to many lithium projects, due to environmental concerns, the court ruling…

Ukrainian Drones Attack Another Russian Refinery

Ukrainian Drones Attack Another Russian Refinery

Mar 15, 2024 at 09:13 | Tsvetana Paraskova

Ukrainian drones attacked early on Friday a small privately-owned refinery 40 miles from Moscow’s outskirts, a source at the Ukrainian intelligence services told Reuters. The refinery in the…

EU Warns of Heightened Somali Piracy Threat to Shipping

EU Warns of Heightened Somali Piracy Threat to Shipping

Mar 15, 2024 at 07:32 | Tsvetana Paraskova

Commercial vessels face increased threats from Somali pirates off the coast of the East African country, the European Union’s Naval Force in the region said in an update.…

U.S. to Back Nevada Lithium Project With $2.26 Billion Loan

U.S. to Back Nevada Lithium Project With $2.26 Billion Loan

Mar 15, 2024 at 06:39 | Tsvetana Paraskova

Lithium Americas Corp has received a conditional commitment for a $2.26-billion loan from the U.S. Department of Energy to help it build lithium processing facilities in Nevada, as the…

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