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News

Gasoline Price-Gouging Bill Passes The House

Gasoline Price-Gouging Bill Passes The House

May 19, 2022 at 12:03 | Julianne Geiger

The House passed the bill designed to stop companies from “price gouging” when it comes to gasoline. The bill, known as the Consumer Fuel Price Gouging Prevention Act, or

Shots Fired As Protesters Fail To Stop Oil Tanker From Loading In Libya

Shots Fired As Protesters Fail To Stop Oil Tanker From Loading In Libya

May 19, 2022 at 11:30 | Charles Kennedy

Protesters on Thursday fired shots outside Libya’s Hariga port in a failed attempt to stop the loading of 1 million barrels of crude oil bound for the UK,…

Gas Stations In Washington State Are Running Out Of Fuel

Gas Stations In Washington State Are Running Out Of Fuel

May 19, 2022 at 11:24 | Charles Kennedy

Gas stations throughout eastern Washington State are sold out of gasoline, and some are selling only diesel, while nationwide U.S. gas prices hit another all-time high and Washington’s average gasoline…

U.S. Shale Merger Creates A New $7 Billion Giant

U.S. Shale Merger Creates A New $7 Billion Giant

May 19, 2022 at 11:15 | Tsvetana Paraskova

Centennial Resource Development and Colgate Energy Partners III, LLC have agreed to combine in a $7.0-billion merger of equals, creating the largest pure-play exploration and production (E&P) firm in the…

The U.S. Is Considering Sanctioning Countries That Buy Russian Oil

The U.S. Is Considering Sanctioning Countries That Buy Russian Oil

May 19, 2022 at 11:07 | Tsvetana Paraskova

The U.S. Administration is considering imposing secondary sanctions on buyers of Russian oil as a means to deprive Putin of oil revenues and undermine Russia’s position as an energy export…

Soaring Energy Imports Put Japan’s Economy Under Pressure

Soaring Energy Imports Put Japan’s Economy Under Pressure

May 19, 2022 at 10:53 | Charles Kennedy

Crude oil imports into Japan soared by almost 100 percent last month, pushing the resource-poor country's trade balance deeper into deficit territory. The increase in oil imports also paled compared…

Soaring Gasoline Prices Won’t Stop Summer Travel

Soaring Gasoline Prices Won’t Stop Summer Travel

May 19, 2022 at 10:42 | Julianne Geiger

GasBuddy released its annual summer travel survey on Thursday, suggesting that the percentage of Americans planning on road trips this summer has increased over last year, indicating that crude oil…

How The UK’s 35% Duty On Russian Platinum And Palladium Will Impact Markets

How The UK’s 35% Duty On Russian Platinum And Palladium Will Impact Markets

May 19, 2022 at 10:34 | Ag Metal Miner

The United Kingdom recently imposed a 35% duty on all platinum and palladium imports from Russia and Belarus. This move is part of a new package of sanctions…

Asian Gasoline Exports To U.S. Soar

Asian Gasoline Exports To U.S. Soar

May 19, 2022 at 09:14 | Irina Slav

Asian refiners are shipping growing volumes of gasoline to the United States as demand soars, Bloomberg has reported, noting that exports of fuels to the U.S. has increased most…

Japan Nuclear Regulator Greenlights Radiactive Water Release From Fukushima

Japan Nuclear Regulator Greenlights Radiactive Water Release From Fukushima

May 19, 2022 at 08:31 | Irina Slav

The Japanese Nuclear Regulator Authority has given its initial approval to Tepco to start releasing irradiated water from the Fukushima plant that collapsed during a massive earthquake and tsunami…

China To Offload 2 Million Barrels of Iranian Crude Despite Sanctions

China To Offload 2 Million Barrels of Iranian Crude Despite Sanctions

May 18, 2022 at 15:55 | Charles Kennedy

After easing up on Iranian oil somewhat in favor of heavily discounted Russian crude, China is now set to receive nearly two million barrels of Iranian oil,

Ex-German Chancellor Could Be Sanctioned Over Rosneft Ties

Ex-German Chancellor Could Be Sanctioned Over Rosneft Ties

May 18, 2022 at 15:51 | Charles Kennedy

European Parliament is threatening sanctions against Gerhard Schröder unless the former German chancellor, who serves as chairman of the supervisory board of Russian state oil giant Rosneft, resigns…

Gasoline Prices Top $6 In California, $9 In Parts Of Europe

Gasoline Prices Top $6 In California, $9 In Parts Of Europe

May 18, 2022 at 13:26 | Charles Kennedy

Gas prices in both the United States and Europe hit new highs Wednesday, with average prices per gallon in California topping $6, compared to over $9 in Norway…

Oil, Gas Employment Will Take Five Years To Recover From Covid: Rystad

Oil, Gas Employment Will Take Five Years To Recover From Covid: Rystad

May 18, 2022 at 12:15 | Julianne Geiger

Oil and gas sector employment is on the road to recovery in the United States after the significant job shedding that took place during the pandemic era. But a full…

"Fossil Fuels Are A Dead End," UN Secretary-General Says

May 18, 2022 at 10:51 | Tsvetana Paraskova

Fossil fuels are a dead end and the only sustainable future for the planet is accelerating the energy transition, UN Secretary-General António Guterres said on Wednesday, launching the State…

Russia Increasingly Using Own Oil Tankers To Boost Shipments To Asia

Russia Increasingly Using Own Oil Tankers To Boost Shipments To Asia

May 18, 2022 at 10:29 | Charles Kennedy

Russia’s state-owned oil producers Rosneft and Gazprom Neft have started to use tankers of local state tanker operator Sovcomflot to ship their crude to Asia, Bloomberg reported on Wednesday,…

Saudi Oil Revenue To Surge 66% To $249 Billion On High Prices

Saudi Oil Revenue To Surge 66% To $249 Billion On High Prices

May 18, 2022 at 10:15 | Tsvetana Paraskova

Saudi Arabia is expected to see its oil revenues surge by 66 percent this year to around $249 billion on the back of higher oil prices and rising oil production…

Insurers Are Suffering Major Losses Due To Climate Change

Insurers Are Suffering Major Losses Due To Climate Change

May 18, 2022 at 10:14 | City A.M

Insurers are now suffering 3.6 times more losses from natural catastrophes than they were three decades ago, according to new research, which suggests insurance companies are being hit…

Russia Could Halt Gas Supply To Finland On Friday

Russia Could Halt Gas Supply To Finland On Friday

May 18, 2022 at 09:21 | Charles Kennedy

Russian could cut off the natural gas supply to Finland late on Friday or early Saturday, Gasum, the state-owned energy provider in Finland, said on Wednesday.     “Gasum considers…

Russia's Gas Flows Via Ukraine Plunged 50% In The Past Week

Russia's Gas Flows Via Ukraine Plunged 50% In The Past Week

May 18, 2022 at 08:46 | Tsvetana Paraskova

Russian natural gas flows to Europe via Ukraine have plummeted by 50 percent over the past week, according to Gazprom data compiled by Anadolu Agency, after Ukraine halted flows…

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