Oil price

Critical EIA Oil Inventory Data Faces Further Delays

The Energy Information Administration will not release any further data, the agency said in an update on highly anticipated inventory numbers due to be released last Wednesday. The data was not released last week after the EIA discovered “a voltage irregularity, which caused hardware failures on two of our main …

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Why Chinese imports of US LNG have collapsed

As European LNG buyers snap up shipments from the United States in a race to replace Russian pipeline deliveries, America has become a major supplier to Europe, and its sales to China have soared. reduced to a few shipments shipped so far this year. Chinese LNG imports from the United …

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Buyers jostle for long-term LNG contracts in 2022

Demand for long-term LNG contracts has risen sharply in the current year, with suppliers taking advantage of robust demand thanks to a global effort to reduce Russian imports by demanding much higher tariffs for new contracts long-term. According to a Oil and Gas Journal report10-year LNG contracts are currently priced …

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Senator says changing oil price transparency law ‘may take time’

PHILIPPINE STAR/WALTER BOLLOZOS The outgoing chairman of the Senate Energy Committee said so on Wednesday. “can take time” Amend the Petroleum Deregulation Act to include provisions that will make oil prices more transparent through cost unbundling. “The solution to amending the oil deregulation law is not an immediate solution (to …

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Here’s why global oil demand fell this spring

According to data from the Joint Organizations Data Initiative (JODI) cited by Reuters. Falling oil demand in China amid weeks of strict shutdowns in Shanghai spooked the oil market in April and through most of May as China’s zero-COVID policy led to mass testing and closures in the Chinese financial …

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The inevitable result of recessions

Comment A reversal in oil prices and energy stock prices could begin. The reason for this is that oil price reversals are the inevitable result of economic recessions. Of course, this is due to previous price spikes that create demand destruction in the economy. The graph shows the price of …

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Rise in jet fuel prices: jet fuel prices increased by 16%; tap a new record

On Thursday, jet fuel prices were raised by 16%, the highest rates on record, to propel rates to a record high, alongside the tightening of international oil rates. The price of aviation jet fuel (ATF) – the fuel that helps planes fly – has been increased by Rs 19,757.13 per …

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Why gas prices are so high

$1 $2 $3 $4 $5 per gallon 1980 1990 2000 2010 2020 Regular gas monthly average price Average June forecast $4.59 per gallon Adjusted for inflation Not adjusted Source: Energy Information Administration Note: Inflation-adjusted prices are in June 2022 dollars. The average price for June is a forecast. Gas prices …

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LME faces $500 million lawsuit over short nickel squeeze

Nickel prices appeared to have bottomed out in mid-May, but the trend remains down. Moreover, recent price action has shown few signs of bullish structures on a weekly basis. In total, the monthly Stainless Metals Index (MMI) fell 9.4% from May to June. LME faces nearly $500 million in lawsuits …

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Biden tells Exxon to start paying taxes

As the US administration grows more desperate each week as gas prices soar above $5 a gallon in the US, President Biden is now going after individual oil and gas companies, know ExxonMobil. A statement from Biden attempting to address May inflation data contained harsh words, both for the oil …

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Biden’s trip to Saudi Arabia won’t solve oil market problems

When news broke last week that President Biden was planning a visit to the Middle East that would include Saudi Arabia, many industry watchers saw signs of a “thaw” in relations between Washington and Riyadh. They also saw the prospect of lower oil prices. It was, after all, to drive …

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After tax suspension, gas prices still high: AAA says blame oil prices

ROCHESTER, NY (WROC) — On June 1, New York State suspended the excise tax on motor fuel and diesel. On Monday, some gas stations were a little lower, with some climbing even higher — gradually approaching the $5.00 mark for a gallon of regular fuel. The average price in Rochester …

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PPP leader slams government for rising oil prices

MARDAN: The central leader of the Pakistan People’s Party and former federal minister, Khwaja Mohammad Khan Hoti, has criticized the government for raising the prices of petroleum products and electricity. Speaking to the media here, Mr Hoti said the masses had already been hit hard by the rising prices they …

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New drilling stops in US oil patch

By Julianne Geiger – Jun 03, 2022, 1:10 p.m. CDT The total number of active rigs in the United States remained the same this week, after one rig fell the previous week, according to new data from Baker Hughes released on Friday. The total rig count remained at 727 this …

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What is the exceptional tax on oil companies?

Russia’s attack on Ukraine has upended the supply chain, pushing global inflation to uncomfortable levels. And one of the reasons for soaring inflation is the sharp rise in crude oil prices. But as public finances bleed, oil and gas companies around the world are hitting money, whether …

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India’s domestic crude oil production falls to 28-year low in FY22

Production has declined every month for the past 4½ years in the core sector index; old fields among the probable reasons Topicscrude oil production | CGSB | oil Domestic crude oil production has been declining since FY 2014-15 (FY15), falling to just 28.4 million tonnes (MT) in FY22, the …

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Pakistan ready to buy oil and wheat from Russia amid rising fuel prices

Pakistan has said it is open to importing oil and foodstuffs from Russia amid the ongoing backlash against the country for invading Ukraine. Speaking at a press briefing, Pakistani Foreign Ministry spokesman Asim Iftikhar said the country had an ‘open door policy’ driven by the national interest …

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Rising oil prices and electricity costs put immediate pressure on labor

The new Labor government faces an immediate test of its election promise to tackle cost of living pressures as a rebound in the global oil price threatens to swallow petrol price relief due to the reduction of excise duties on fuel and that consumers prepare for an impending spike in …

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Oil advances on tight supply and an expected rise in demand

Storage tanks are seen at the Petroineos Ineos oil refinery in Lavera, France, March 29, 2022. REUTERS/Benoit Tessier Join now for FREE unlimited access to Reuters.com Register French minister optimistic about EU oil embargo Memorial Day weekend trips to the United States will be the busiest in two years U.S. …

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Eni and TotalEnergies start drilling off Cyprus

Italy’s Eni and France’s TotalEnergies began exploratory drilling of a natural gas well off Cyprus on Monday in the same block where a discovery was made in 2018. On Monday, the Tungsten Explorer drillship arrived off Cyprus to start drilling in Block 6, where Eni Cyprus and TotalEnergies EP Cyprus …

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Oil market fears recession more than tight fuel stocks

The oil market wrapped up another volatile week of hectic trading, swinging up and down in the $5 a barrel range as it was torn between bullish and bearish catalysts back and forth each day. The two landmarks reached an eight-week high early Tuesday, only to pull back later in …

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Brent-WTI Oil Price Gap Reversals | Rigzone

(The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author.) In this week’s edition of hits and misses in the oil and gas industry, regular market watchers at Rigzone focus on the reversal of …

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Countries banning food exports amid rising prices and inflation

India has banned wheat exports as grain prices have jumped this year partly due to the Russian-Ukrainian war. T.Narayan | Bloomberg | Getty Images India has banned wheat exports, becoming the latest country to do so as grain prices have surged this year in part due to the Russia-Ukraine war. …

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Anakpawis party list urges Congress to hold special session to deal with rising oil prices

By Billy Begas The Anakpawis party list on Monday called on lawmakers to “decisively perform the patriotic act” and hold a special session to deal with rising oil prices. National Anakpawis President Ariel Casilao has called on incumbent lawmakers to repeal provisions relating to excise duties and Value Added Tax …

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Faster transition to renewable energy will get Canada off fuel price roller coaster, economist says

While Canadians are paying record prices at the gas pump, fossil fuel companies have reaped record profits. Calgary-based Suncor tripled its profits over the past year, from $821 million to $3 billion. The cost of producing petroleum-based products like gasoline and diesel has not increased, according to Jim Stanford, an …

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UK increases LNG imports, but consumers unlikely to see relief

The UK bucked the pan-European trend of soaring wholesale gas prices as shipments of liquefied natural gas eased a shortage that drove prices up last year and kept them there. But consumers won’t feel price relief any time soon. Bloomberg reported this week that the daily price of natural gas …

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Dana Gas more than doubled its first-quarter net profit amid rising oil prices

Sharjah-based Dana Gas, one of the Middle East’s largest private natural gas companies, more than doubled its net profit in the first quarter as revenue surged amid rising oil prices. Net profit for the three months to the end of March jumped 125% to 198 million dirhams ($54 million), the …

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Oil Price Drop: Brent Crude Plunges as European Union Prepares to Vote on Russian Oil Ban | City & Business | Finance

Brent crude fell 28 cents (23 pence) to $112.11 (£91.30) a barrel in the early hours of Monday morning. US crude West Texas Intermediate was also hit, falling 41 cents (33 pence) to $109.36 (£89.06) a barrel. The market has been rocked by events in Brussels as the 27 EU …

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Will soaring energy prices derail reforms in the oil-exporting Middle East? | World | Latest news and insights from around the world | DW

Two years ago, Iraq was almost out of money. The country is the fifth largest oil producer in the world and it should be rich. But because almost everything Iraq earns comes from its oil sales, the Middle Eastern nation’s budget is at the mercy of world oil prices. Already …

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JPMorgan slashes demand outlook amid soaring oil prices

By Irina Slav – May 05, 2022, 10:00 a.m. CDT JP Morgan has revised its forecast for oil demand this year down 1 million barrels per day. JP Morgan forecasts total oil demand to average 100 million bpd in 2022, 400,000 bpd below 2019 levels JP Morgan …

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Fossil fuels aren’t going away any time soon

Calls for an end to all investment in new oil and gas production, protests demanding the immediate suspension of oil production, and whistleblower reports from environmental NGOs accusing banks of continuing to finance fossil fuels have become essentials of today’s life in the West. But fossil fuels aren’t going anywhere, …

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Oil price crash: Joy for British motorists as the cost of a barrel drops to $104 | World | News

Market-pioneer Brent crude futures fell 12 cents (10p) to settle at $107.14 (£85.22) a barrel while the contract expiring the previous month rose 1 $.75 (£1.39) to settle at $109.34 (£86.95) a barrel. US crude West Texas Intermediate fell 67 cents (53p) to settle at $104.69 (£83.26) a barrel. It …

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Iran increases oil exports as main buyer China cuts Russian purchases

Iran’s oil exports jumped 30% from a year ago to 870,000 barrels per day (bpd) in the first quarter of 2022, The Wall Street Journal reported on Thursday, citing data from the data provider on raw materials Kpler, as the main buyer of Iranian crude, China, is reducing its imports …

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How India Can Insulate Inflation From Soaring Crude Oil Prices – IMF Explains

To stay sheltered from soaring crude oil prices, the International Monetary Fund (IMF) suggested the Indian government adopt monetary tightening and measures to check structural weaknesses. The IMF believes that the rise in the price of crude oil following the Russian-Ukrainian war is the main reason for the rise in …

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Oil slips as Shanghai lockdowns stoke demand fears

A general view shows Lukoil company’s oil refinery in Volgograd, Russia April 22, 2022. REUTERS/REUTERS PHOTOGRAPHER Join now for FREE unlimited access to Reuters.com Register Shanghai fences off COVID-hit areas, fueling fresh outcry EU mulls ‘smart sanctions’ on Russian oil Libyan NOC says Zawiya oil refinery damaged after armed clashes …

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The Russian war sparked a coal renaissance

Despite much talk about accelerating renewables, coal continues to dominate some markets. China is steadily increasing its coal production, while Indonesia is looking to export to new European buyers. And while many countries are imposing sanctions on Russian coal, India is now backing its imports of cheap Russian oil with …

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The energy transition poses a major problem for metals

The metal mining industry is at a crossroads. The key metals of the energy transition need billions of dollars of investment if the world has any chance of advancing the transition to meet the goals of the Paris Agreement. At the same time, investors are pulling out of carbon-intensive sectors, …

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Oil prices plunge after IMF downgrades global growth forecast

Oil prices fell more than 5% today as investors worried about a drop in demand after the International Monetary Fund cut its forecast for global growth. In the evening, the price of Brent crude, the main international oil contract, was down 5.4% at $107.11 a barrel, while the main American …

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China’s new gold project is a double-edged sword for Tajikistan

The President of Tajikistan visited the northern region of Sughd on April 14 to oversee the opening of a new gold processing plant built by a Chinese investor at a cost of approximately $136 million. The company, Talco Gold, will produce up to 2.2 tonnes of gold and 21,000 tonnes …

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Oil prices fall as market weighs on mixed supply signals

Workers walk as oil pumps are seen in the background at the Uzen oil and gas field in the Mangistau region of Kazakhstan November 13, 2021. REUTERS/Pavel Mikheyev Join now for FREE unlimited access to Reuters.com Register NEW DELHI, April 14 – Oil prices fell on Thursday amid weak trading …

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TotalEnergies to increase LNG capacity on the Louisiane project

TotalEnergies plans to increase production capacity at the Cameron LNG plant in Louisiana in the United States, the French supermajor announced on Monday, as the United States seeks to increase LNG shipments to Europe to help it reduce its dependence on Russian gas. As part of a recent memorandum of …

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Russian oil continues to flow to India and China

It has been exactly six weeks since Russia invaded Ukraine, with no end in sight for one of humanity’s greatest existential crises of modern times. In response to Russia’s unprovoked and unjustified war, the United States and the West hit the rogue nation with a plethora of sanctions, with the …

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Oil prices set to drop weekly on stock releases

A maze of crude oil pipes and valves are pictured during a Department of Energy visit to the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson/ Join now for FREE unlimited access to Reuters.com Register LONDON, April 8 (Reuters) – Oil prices rose on Friday but …

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Breaking the lower triangle support – what next?

Crude Oil Outlook: Crude Oil Prices Continue to See Volatile Price Action in Both Directionsalthough a break lower from a recent symmetrical triangle appears to be underway. Rising US oil production, combined with lower US demand, is easing upward pressure on energy prices. According to IG Customer Opinion Indexcrude oil …

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Why Renewables Cannot Solve Europe’s Energy Crisis

Germany is preparing for gas rationing. The operator of the French electricity network is request consumers to use less electricity. In the UK, protests erupt over the latest electricity price hike which plunged millions of homes in what a local think tank called fuel stress. Europe has a serious energy …

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Has the surge in oil prices further fueled Turkish inflation?

Did Turkish inflation hit a 20-year high in March? Soaring global energy prices likely propelled Turkish inflation to its fastest rate in two decades in March, but President Recep Tayyip Erdogan’s fixation on low interest rates means the central bank remains reluctant to respond with a tighter monetary policy. The …

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Steel shortage adds to woes for US shale drillers

US shale oil drillers are complaining of a shortage of steel tubing for wells, contributing to stagnant production. In a Friday report, Bloomberg cited data from KeyBanc Capital Markets, which showed the price of pipe used in the oil industry – tubular goods for oil countries – soared to $2,400 …

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Nifty could yield 15% return in 2022 if oil prices stabilise, new-age tech is clearly one to avoid | MAINTENANCE

If crude oil prices stabilize quickly, NSE Nifty 50 could potentially rise and help investors pocket around 15% in the current year 2022, said George Heber Joseph, CEO and CIO, ITI Mutual Fund, in an interview with Kshitij Bhargava of FinancialExpress.com. Joseph spoke about the impact rising crude oil prices …

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Soaring energy stocks may bode ill for global markets

A week ago, we reported that the rise in oil and gas prices caused by the conflict in Ukraine had increased the threat of worst stagflationary shock hitting Europe since the 1970s. Europe is at serious risk of plunging into a deep recession if Russia follows through on its threat …

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In the 2nd surprise price increase of the week, diesel, heating oil and fuel oil rose again across NL.

Drivers in Newfoundland and Labrador are seeing new pump prices for the third time this week. (Jonathan Hayward/The Canadian Press) The costs of some fuels in Newfoundland and Labrador rose again on Friday as the Public Utilities Board changed prices for the third time this week as the global oil …

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Deja vu: Soaring oil prices raise fears of a global recession

The more Russian oil supplies slip off the market in the coming months, the higher the risks of a global recession later this year, economists and analysts have begun to warn since Russia invaded Ukraine it a month ago. The latest warning came this week from two economists at the …

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Explained: Why petrol and diesel prices rose after a 137-day freeze

Gasoline and diesel prices were raised on Tuesday for the first time in more than four months as oil marketing companies (WTO) increase in the prices of the two fuels of about Rs 0.8 per litre. The price of petrol in the nation’s capital is now Rs 96.21 per liter …

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Oil prices are rising⁠ and pipeline stock dividends are rising. Here’s how to play it.

Sanctions on Russia are shaking up global energy markets, pushing crude oil above $100 a barrel and pushing U.S. gasoline prices to an average of $4.30 a gallon, up almost 50% last year. He also made the energy sector a superstar this year. Of the 11 sectors of S&P500, energy …

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Oil prices continue to fall on new hopes for peace between Russia and Ukraine

Text size Oil prices erased gains early Wednesday on renewed hopes for peace between Russia and Ukraine. Getty Images Oil prices continued to slide on Wednesday after falling into a bear market just a week after hitting their highest levels since 2008. West Texas Intermediate (WTI) futures fell more than …

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The war in Ukraine accelerates the fall of the dollar

Last week, former New York Fed staffer Zoltan Pozsar sent shock waves through Wall Street as he last piece of researchhe hinted that following the war in Ukraine, which resulted in a “commodity collateral” crisis (and which is rapidly turning into an old fashioned liquidity crisis), the Chinese PBOC will …

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Oil could experience its biggest supply shock since 1973

The global oil market was already tight before Russia’s invasion of Ukraine, but Putin’s war and its aftermath on Russian crude supply and energy prices has the potential to send the market into a shock. major supply chain comparable to the Arab oil embargo of 1973. Oil inventories in major …

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UK oil prices – live: Drivers pay ‘incredibly high’ costs as RAC says diesel ‘on track to reach £1.70 a litre’

Drivers queue for fuel in England as motorists are hit by rising oil and diesel prices With average petrol and diesel costs hitting record highs in the UK, drivers will see ‘unbelievably high prices on the forecourts’, the RAC has warned, as petrol has reached over £2 a liter in …

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Economic growth at 7.8%, the rise in oil prices slows down: S&P Global Ratings

Rising oil prices could dampen economic growth and lead to large current account (CAD) deficits in major energy-importing countries like India, S&P Global Ratings said on Wednesday. The rating agency pegged India’s economic growth at 7.8% for FY23. It said high inflation, weaker demand and heightened uncertainty …

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Nasdaq 100 plunges into bear market as soaring oil prices fuel stagflation concerns

NASDAQ 100 OUTLOOK: US stocks sink at the beginning of the week in a climate of risk in the face of high geopolitics tensions stemming from the ongoing war in Ukraine Nasdaq 100 breaks through support and crashes 3.75% to 13,319increasing the likelihood of a retest of the 2022 low …

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Political certainty protects Indian stocks from soaring oil prices: Morgan Stanley

Falling oil intensity in GDP and rising share of domestic investors are among other reasons, foreign consultancy says Despite an oil supply shock, Indian interest rates, currency and equities appear to be relatively calm for six main reasons, Morgan Stanley said. The global financial advisory firm has analyzed the probable …

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KUNA: Kuwaiti oil price remains well above the 100 point threshold – General

03/03/2022 LOC08:59 05:59 GMT KUWAIT, March 3 (KUNA) — The price of Kuwaiti crude oil remained well above the 100-point threshold amid global turmoil caused by the ongoing Russia-Ukraine crisis.In a statement on Thursday morning, the Kuwait Petroleum Corporation (KPC), the umbrella company of Kuwaiti …

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Saudi Arabia could raise April crude prices to Asia to historic highs

A view shows branded oil tanks at the Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov Join now for FREE unlimited access to Reuters.com Register SINGAPORE, March 2 (Reuters) – Saudi Arabia, the world’s biggest oil exporter, could sharply raise crude prices for Asia in …

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Oil and gold prices jump, Russian central bank hikes rates as ruble falls – Business Live | Business

Hello and welcome to our ongoing coverage of the global economy, financial markets, eurozone and business. The Russian ruble crashed more than 40% to a new all-time high against the dollar, oil prices jumped up to $7 a barrel and gold prices gained 1%, as financial markets opened for the …

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Ukraine crisis: Amid concerns over rising crude oil prices, farmers in Punjab stock up on fuel

As the Russian-Ukrainian conflict raises concerns over soaring crude oil prices, farmers in Punjab stock up on fuel for the upcoming wheat harvest season. Long lines of tractors, with fuel storage tanks, were seen at petrol stations in rural areas of the southern region of Malwa on Saturday. Russia and …

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Commodities Rise as Russia Invades Ukraine: Major Oil, Aluminum, Palladium and Nickel Price Spikes

Editor’s Note: With such volatility in the markets, stay up to date with daily news! Get our quick roundup of today’s must-see news and expert opinion in minutes. Register here ! (Kitco News) – In a highly volatile session following Russia’s attack on Ukraine, the commodities sector surged, …

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Saudi Arabia denounces short-sighted campaign against oil

The world’s biggest oil exporter, Saudi Arabia, has repeatedly said it wants to be the producer that pumps out the very last barrel of oil. In the meantime, the world and its growing economy will still need oil and gas, even as renewable energy capacity soars globally. The rebound of …

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Oil prices swing as Russia threatens Ukraine

Uncertainty sent oil prices soaring at Sunday’s trade open as more Russian troops massed on Ukraine’s borders, but fell later overnight as reports said the President Biden would consider direct talks with his Russian counterpart as long as Russia does not invade. Oil prices had remained essentially flat over the …

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Oil prices up sharply for 8th time – Manila Bulletin

With global oil prices rising slightly, heavy domestic oil pump cost adjustments are again expected next week for this year’s 8th round. Based on last week’s international trade results, it was estimated that petrol prices will increase by P0.95 to P1.05 per litre; diesel from P0.55 to P0.65 per litre; …

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Norwegian oil companies increase investment plans for 2022

General view of Equinor’s Johan Sverdrup oil platforms in the North Sea, Norway December 3, 2019. REUTERS/Ints Kalnins Join now for FREE unlimited access to Reuters.com Register OSLO, Feb 17 (Reuters) – Norwegian oil and gas companies plan to invest nearly $18 billion this year, more than originally planned, as …

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Chinese electric vehicle stocks fly again

Over the past few years, investors have been pumping money into electric vehicle startups and other green tech start-ups at a record pace, with many electric vehicle startups going public through the so-called SPAC deals. . Also known as blank check companies, special purpose acquisition companies are companies that do …

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RHB Raises Crude Oil Price Forecast to US$75-$90, Maintains ‘Overweight’ on Sector | Money

RHB Research said demand destruction was inevitable for Russia and Ukraine in the event of war. —Photo Reuters KUALA LUMPUR, February 14 – RHB Research maintained its call for “overweight” on the regional oil and gas sector and raised its crude oil price forecast to between USD 75 and USD …

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Net oil profit jumps 37% in third quarter, Auto News, ET Auto

The OIL Board has declared a second interim dividend of Rs 5.75 per share for 2021-2022 resulting in a total interim dividend to date of Rs 9.25 per share for exercise. New Delhi: State-owned Oil India Ltd reported a 37% increase in third-quarter net profit on Friday as it benefited …

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Veteran bankers take renewable energy jobs

Seasoned bankers who have advised mega-deals in oil and gas are moving into renewable energy M&A advisory roles as the global energy industry becomes increasingly focused more about growing low-carbon companies. The global push towards cleaner energy and net-zero emissions has also created something of a transition dilemma for bankers. …

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Oil prices climb after API data shows surprise drop in US stocks

Crude oil storage tanks are seen in an aerial photograph of the Cushing Oil Hub in Cushing, Oklahoma, U.S., April 21, 2020. REUTERS/Drone Base Join now for FREE unlimited access to Reuters.com Register API data shows US crude, fuel stocks falling – sources Iran nuclear talks resume Tuesday in Vienna …

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Will the price of Inplay Oil continue to rise?

Studies by leading experts on the power of price momentum show that stocks with the strongest price trends can potentially keep pace for up to a year. This is largely due to investor psychology. In this spirit, share in Entry Oil (TSE: IPO) have been on an upward trend in …

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How far away is a fully electric passenger plane?

Sustainability and net-zero emissions have reached the aviation industry, where start-ups, major aircraft manufacturers, aerospace engine manufacturers and even NASA are developing and testing battery-powered aircraft. The world’s first all-electric commuter jet is preparing for its maiden flight, which is expected to take place in a few weeks, courtesy of …

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The next big problem for US shale

U.S. oil producers are ramping up capital spending and activity this year, but they face runaway inflation as cost pressures mount. As oil production growth accelerated in the fourth quarter, costs jumped sharply for a third straight quarter to reach a record high among oil service companies “suggesting significant cost …

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Ofgem to unveil new household energy bill price cap on Thursday morning – business live | Business

First, the scheme would mean that customers pay less when wholesale prices are high, but more than they would have in the future when prices fall. This smoothing of bills over time will always be helpful, but it’s important for people to understand that any savings made now will be …

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Russian natural gas production is expected to hit a record high this year

Russia’s natural gas production is expected to hit a record high this year, breaking the 2021 record, but this winter’s deliveries to Europe have been well below normal. In 2021, Russia’s natural gas production is expected to have risen 10% year-on-year to a record 762 billion cubic meters (bcm), the …

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Slower economic growth could weigh on commodity prices

Supply chain challenges and rising inflation are dampening global economic growth, with last year’s pace of expansion expected to slow this year and next, which could lead to lower demand of raw materials. If demand for commodities slows, prices could reflect moderating economies. That could happen before the end of …

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FTSE 100 Live January 28: Apple’s sales record dampens Wall Street’s tech jitters, BHP exits top flight, oil price at $90

1643366527 Slowdown session as BHP exits FTSE 100 BHP’s latest session in the FTSE 100 index prompted a surge in activity today as tracking funds ended their exposure to one of London’s biggest stocks and top dividend-payers . The mining giant’s decision to transfer its main listing to Sydney as …

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The Hype Around Carbon Capture Is Causing Problems

After years of promoting carbon capture and storage (CCS) technologies as a mid-term solution to clean up fossil fuel production, many are now concerned about the caliber of CCS projects currently underway. As oil companies around the world rush to integrate CCS into their operations, to decarbonize without giving up …

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Wall Street Shakes Fed, Ukraine Anxiety As Oil Plunges

All three major U.S. stock indices closed in positive territory on Monday, Jan. 24, after the Dow Jones Industrial Average posted a decline of more than 1,000 points earlier in the day. WASHINGTON, USA – A tumultuous day on Wall Street saw stocks end higher after posting heavy losses earlier …

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High food prices dash India’s hopes of cutting cooking oil imports

Consumption is expected to rise in India by 17% over the next four years, according to BV Mehta, executive director of the Solvent Extractors’ Association. Such a steep rise would further widen the manufacturing gap: India is likely to produce around 10 million tonnes of edible oils in 2021-22, against …

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Oil may rise as Putin approaches Ukraine

Mike Waltz, R-Fla., speaks on Biden’s cancellation of U.S. pipelines and growing tensions at the Russia-Ukraine border. As Russian President Vladimir Putin moves closer to Ukraine, global energy markets face a potentially seismic event threatening a global economic downturn. Teleprinter Security Last Change Change % USO US OIL FUND LP …

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Eastern Europe has a bitcoin problem

As Europe continues to grapple with an energy crisis caused by skyrocketing demand for liquefied natural gas, a tight global energy supply, and Putin keeping pipelines at low capacity as gas-rich Russia gains political ground, Another sleeping giant has emerged to become a huge and surprising obstacle to the continent’s …

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TMS Ep88: Paytm, Sanjeev Krishan, rising oil prices, “right to repair”

Its November debut on Dalal Street was a disappointment, eroding more than half of investors’ wealth. And last Friday, Paytm announced that it would end its operations in Canada. Its shares hit a historic low of Rs 995 on the day, before recovering. Most market pundits are now asking investors …

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Energy companies boosted by gas price spikes have paid £200bn to shareholders since 2010 | Oil and gas companies

Oil and gas companies have paid nearly £200billion to shareholders since 2010 and are set to be hit with a windfall tax to cap heating bills set to rise by up to £500 a year, according to a report on the finances of the British energy sector. . Shell and …

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Geopolitical risks to watch this winter

By Editorial Dept – January 14, 2022, 12:30 PM CST A single attack on oil at this point could push prices up to $90, but that will depend on where it is. Markets will weigh more heavily on some geopolitical sentiments than others. And there’s plenty to choose from right …

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Can the world avoid a global oil supply crisis?

Europe’s gas crisis has been in the headlines for months now, and for good reason – the continent is still struggling to get enough power for its winter needs. But there could be a worse crisis threatening the world, and that would be an oil crisis. The signs are there …

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China is the only winner in this huge Iraqi oil field

Iraqi Petroleum Minister Ihsan Abdul Jabbar’s statement last week that the newly resurrected Iraqi National Oil Company (INOC) has received government approval to acquire ExxonMobil’s 32.7% stake in the oil field supergiant West Qurna 1 for up to $ 350 million is likely to leave China elated, the United States …

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Cold weather in North Dakota and Alberta forces oil producers to curb production

Regional prices for crude oil pumped in western Canada and North Dakota rose this week to reduce their rebates against the U.S. benchmark, WTI crude, after freezing winter temperatures upset prices. Crude flows from the oil sands in Alberta and the Bakken shale deposit in the United States. While freezing …

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Buhari repeats false statement about Nigeria’s oil revenues in recent years

President Muhammadu Buhari again cited erroneous figures on Nigeria’s average crude oil earnings between 1999 and 2014, while speaking of his administration’s efforts to build the economy with scarce resources. The president, in the interview broadcast by Channels TV on Wednesday, said Nigeria’s crude oil production from 1999 to 2014 …

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Indonesia to subsidize 1.2 billion liters of cooking oil to cool prices

JAKARTA, Jan.5 (Reuters) – Indonesia will offer 1.2 billion liters of cooking oil at a subsidized price to consumers, the government said on Wednesday, in a bid to curb inflation that peaked on last month following a commodity boom. . The government will spend 3.6 trillion rupees ($ 250.78 million) …

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2021 was the year of the collision of energy strategies

The past year has been marked by a visible and accelerated energy transition, as politicians and investors have focused more than ever on climate change and ways to slow global warming. But a flexible White House energy policy and OPEC market control have proven fossil fuels aren’t going away anytime …

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Activists demand an immediate end to oil production

Europe may be in the throes of an energy shortage and forced to reopen retired coal plants to cope, but climate activists insist it’s time to part with fossil fuels , the earliest would be best. According to them, this is a simple solution to the emissions problems in the …

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Gulf economies headed for budget surpluses with some help from oil

Apart from the financial reforms and the volume of non-oil investments announced by the GCC countries, the growth of the oil and non-oil sectors will exceed recent forecasts. Image Credit: Pixabay / Gulf News What would be the Gulf’s economic prospects for 2022? This is a question asked by everyone, …

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N1trn in 10 months … how oil subsidy payments weighed on Nigeria’s income in 2021

The stubborn undercollection of premium motor spirit (PMS), also known as the gasoline subsidy, created a mess of income for the federation in 2021. Apart from the usual polemics on the question of whether to “withdraw or not”, the essence subsidy payments swallowed up over 1.03 trillion naira in 10 …

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Southeast Asia’s Oil and Gas Production May Never Return to Pre-COVID Levels

The Covid-19 pandemic marked the end of an era for combined oil and gas production in Southeast Asia, pushing the region’s production in 2021 to less than 5 million barrels of oil equivalent per day (bepj) for the first time since 1998, a threshold that should not be exceeded again …

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Oil rallies amid reduced fears of Omicron-induced drop in demand

Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, USA, April 27, 2020. REUTERS / Adrees Latif / File Photo Register now for FREE and unlimited access to Reuters.com Register Two antiviral pills for COVID-19 approved in the United States Exxon …

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