Oil price

Peak oil demand forecasts turn sour as demand continues to grow

[ad_1] In the minds of many news consumers, oil is disappearing. Coal too. Gas too, although this can stay on for a bit longer. After all, we are entering a new era of clean energy, and while it will take some time to get there, it is our only option …

Read More »

Why gas prices are going up when they should go down

[ad_1] Historically, gasoline prices have risen in the spring for a variety of reasons, including the switch to summer fuel. Then they decrease in the fall for reasons such as lower demand for gas after the hot summer months. But this is not the case this year. Gas prices have …

Read More »

Oil hits multi-year high above $ 86, then pulls back

[ad_1] A worker takes a sample of crude oil from an oil well operated by the Venezuelan state oil company PDVSA in Morichal, Venezuela, July 28, 2011. REUTERS / Carlos Garcia Rawlins / File Photo American crude, lower fuel stocks, tightening supply -EIA Coal and natural gas prices fall, weighing …

Read More »

Akbayan calls for fuel subsidy against rising oil prices

[ad_1] October 20, 2021 at 11:44 AM “Apply the brakes to rising oil prices. “ That was Akbayan Partylist’s call to the government in response to eight weeks of uninterrupted increases in fuel prices, as he lobbied for motorists to subsidize fuel by relaunching the Pantawid Pasada program. “Kailangan which …

Read More »

5 energy stocks to watch as the earnings season approaches

[ad_1] Profit season is here again, with almost 10% of S&P 500 companies that published results in the third quarter of 2021. According to FactSet data, 80% reported actual EPS higher than estimates, with profits 14.7% higher than Wall Street estimates. No energy company has yet submitted its third quarter …

Read More »

$ 200 ‘Crazy’ Oil Bets Invade Options Market

[ad_1] A roaring bullish crude options trade indicates that the energy rally of 2021 is far from over. Traders are betting once again that the benchmark US oil will exceed $ 100 a barrel, up from $ 82 recently, as early as December. U.S. crude, known as West Texas Intermediate …

Read More »

Massive oil price hikes set again next week – Manila Bulletin

[ad_1] Motorists will have to prepare for larger increases in gasoline prices next week from P 1.90 to 2.00 per liter, according to calculations by oil companies. For diesel products, the expected price increase will be in the range of P1.35 to P1.45 per liter while kerosene products are expected …

Read More »

What a global energy crisis means for North American stocks

[ad_1] Imagine that a few years ago, in early 2014, Vladimir Putin threw a coin into a wishing well and demanded a more favorable market for Russian oil and gas, their main source of foreign exchange. Just seven years ago, after the Russian invasion and takeover of Crimea, the country …

Read More »

Oil is stable as soaring electric fuel prices offsets concerns over crude demand

[ad_1] A gas station attendant prepares to refuel a car in Rome, Italy, January 4, 2012. REUTERS / Max Rossi IMF slashes growth prospects for major economies China’s crude imports in September fall 15% year-on-year – data U.S. Gasoline Futures On Track For Higher Close Since October 2014 Market expects …

Read More »

$ 100 of oil doesn’t seem likely

[ad_1] Saudi Energy Minister Prince Abdulaziz bin Salman al-Saud (Photo by KARIM SAHIB / AFP via Getty … [+] Images) AFP via Getty Images A woman was recently sentenced to four days in jail for approaching a bear to take a selfie: I guess she wasn’t at NYMEX, where bears …

Read More »

Russia’s economy under President Putin on the charts

[ad_1] Russian President Vladimir Putin attends a meeting with US President Joe Biden at Villa La Grange in Geneva, Switzerland, June 16, 2021. SPOUTNIK | via REUTERS Love him or hate him, there is no doubt that Russian President Vladimir Putin has helped keep Russia firmly on the global geopolitical …

Read More »

Oil prices raise FTSE as US jobs report disappoints

[ad_1] London’s highest index was raised on Friday by its oil majors and mining giants as it ignored disappointing US employment figures. The FTSE 100 had added 0.3% to its value at the end of the day, despite a US non-farm workforce well below expectations. He finished in 17.51 ​​points …

Read More »

Smaller packaging, same price: curse of ‘shrinkflation’ hits shopping carts | Business

[ad_1] Shoppers should beware of supermarkets and food brands that squeeze through price hikes by downsizing packaging – known as “shrinkflation” – as they battle rising raw material costs, energy and labor, analysts warned. Food giants, faced with soaring prices for commodities such as oil and flour, along with record …

Read More »

Moody’s raises average oil price outlook to $ 50- $ 70

[ad_1] NEW YORK: Oil prices fell nearly 2% on Wednesday after hitting multi-year highs as an unexpected increase in US crude inventories prompted buyers to pause after recent searing gains. The latest surge in crude prices was underpinned by the refusal of the Organization of the Petroleum Exporting Countries and …

Read More »

Soaring oil and gas fuels inflation fears, as German factory orders tumble – Business Live | Business

[ad_1] Hello and welcome to our continued coverage of the global economy, financial markets, UK supply chain crisis and business. The energy crisis is intensifying, driving up costs for households and businesses, and spreading inflationary fears in the markets. US crude hit its highest level since 2014 this morning, extending …

Read More »

OPEC + sticks to plan to gradually increase oil production as prices skyrocket

[ad_1] VIENNA – Oil prices continued to rise on Tuesday, a day after the OPEC + meeting kept its back-to-supply plan unchanged, with traders taking further account of tense market conditions. The OPEC + grouping is made up of the Organization of the Petroleum Exporting Countries (OPEC), Russia and their …

Read More »

Oil major ready to make profit in Permian

[ad_1] Euro majors have scaled back their traditional high carbon portfolios to evolve their product line to meet the low carbon climate targets of the Paris Agreement. This is driven by a combination of internal conviction at the management level, investor repulsion for the “damage” that hydrocarbons are doing to …

Read More »

Western Pennsylvania oil companies unhappy with steep price hike

[ad_1] The price of natural gas is not the only thing on the rise. The cost of heating oil is about 80% higher than a year ago, which does not please local oil companies. Representatives from companies such as Glassmere Fuel in West Deer and Export Fuel in Export say …

Read More »

Oil Prices Impact USDINR Movement: Myth or Reality?

[ad_1] The USDINR remained volatile throughout the week as it continued to track the US dollar index under low risk market conditions. After opening at 73.68, the pair traded between 73.61 and 74.36 before ending the week at 74.12. The dollar index has moved closer to a one-year high amid …

Read More »

World’s longest submarine power cable enters service

[ad_1] A 450-mile submarine power cable connecting the UK and Norway has started commercial operations, allowing the two countries to share renewable energy, National Grid said this morning. Water flowing from mountains to fjords and harnessed by hydropower plants in Norway will power UK homes, as the world’s longest ‘interconnection’ …

Read More »

Opposition protests against rising oil prices in North America – Journal

[ad_1] ISLAMABAD: The National Assembly witnessed the opposition protest again on Friday, this time against the recent price hike for petroleum products, while the government insisted that prices were below international market rates . The Treasury advisers again gave the opposition the opportunity to suspend the session due to low …

Read More »

Crude oil prices torn between supply fears and grim market mood

[ad_1] CRUDE OIL OUTLOOK: Crude oil prices slow as rally struggles to extend past four-month highs Concerns related to the reduction in supply are counterbalanced by a generally risk-free environment US PCE inflation and the ISM manufacturing survey in the spotlight ahead Crude Oil Price wavered sharply but ultimately failed …

Read More »

Rising U.S. bond yields and lower oil price September stock gains

[ad_1] The rise in US bond yields and the surge in the price of Brent crude eroded the gains made by the markets in September. After rising 5%, the Sensex ended the month with a gain of just 2.7%. On Thursday, the index fell for the third day in a …

Read More »

Diesel prices rebounded to a record 89.87 per liter on Thursday | Latest India News

[ad_1] Diesel prices rebounded to a record high price of ??89.87 per liter in Delhi on Thursday after state-run fuel retailers increased their rate by 30 paise per liter, the fifth increase in seven days, leading to an increase in the fuel rate of ??1.25 per liter. Recent price hikes …

Read More »

Rich countries could help finance South Africa’s coal exit

[ad_1] Representatives from the United States, the European Union, the United Kingdom, France and Germany meet with senior South African government officials to discuss a possible climate deal and ways to achieve it. ‘Help finance the African country’s transition out of coal, Bloomberg reported on Wednesday, citing sources with knowledge …

Read More »

OPEC + will not and will not be able to stop the rise in oil prices

[ad_1] Few could have predicted that after an already big bull run this year against a backdrop of recovering demand, oil prices still had a long way to go. And yet, the world’s most traded commodity has just received a major boost from the gas crisis in Europe and Asia, …

Read More »

Oil prices exceed $ 80 a barrel for the first time in three years

[ad_1] European coal, carbon and gas prices have all hit record highs as crude oil surged above $ 80 a barrel, making it clear that the world is heading towards an energy crisis that could weigh on economic growth. . Brent, the international benchmark, rose 0.9% to $ 80.22 a …

Read More »

Column: Oil prices soar with little help from hedge funds: Kemp

[ad_1] Oil storage containers are seen, amid the coronavirus disease (COVID-19) pandemic, in Los Angeles, California, United States, April 7, 2021. REUTERS / Lucy Nicholson LONDON, Sept. 27 (Reuters) – The prolonged disruption of oil production in the Gulf of Mexico and mounting signs of a global energy shortage have …

Read More »

Three-year high oil price means further pressure on household bills

[ad_1] Oil prices rose for a fifth day in a row, with Brent crude oil prices at their highest level since October 2018 and heading towards $ 80 a barrel due to supply issues as demand picks up in parts of the world with the relaxation of pandemic restrictions. Brent …

Read More »

Column: Global energy shortage manifests itself in soaring coal, gas and oil prices: Kemp

[ad_1] The sun sets behind power lines near the town of Sachkhere, some 200 km (124 miles) northwest of Tbilisi, September 13, 2013. REUTERS / David Mdzinarishvili / File Photo LONDON, Sep 24 (Reuters) – Record gas and electricity prices in Europe, record coal prices in China, gas prices at …

Read More »

What the experts are wrong about the UK energy crisis

[ad_1] Headlines are scary: the price of natural gas in the UK quadruple in 2021, Russians accused of manipulating natural gas supply, rising gas prices are forcing the closure of fertilizer factories, resulting in a shortage of carbon dioxide necessary to stun animals before slaughter, which could lead to a …

Read More »

American shale is finally ready to drill

[ad_1] American shale producers have performed in an exemplary fashion over the past year. It was not something the industry wanted to do. It’s something it was forced to do by the pandemic and by its shareholders, who, after years of waiting for bargains, have put their foot down and …

Read More »

Gazprom: we are not withholding gas from Europe

[ad_1] Russian gas giant Gazprom rejects speculation and accusations that it is not delivering enough natural gas by pipeline to Europe, a senior Gazprom Export official said. So far in 2021, Gazprom’s gas deliveries to Europe have reached historic highs, wrote Sergey Komlev, chief contract and pricing structuring director at …

Read More »

Naira depreciates in official market as oil price hits two-month high – Nairametrics

[ad_1] Thursday 23 September 2021: The exchange rate between the naira and the US dollar closed at 413.68 N / $ 1 at the official window of investors and exporters. The naira depreciated against the US dollar on Thursday, to close at N / $ 413.68, down 0.12% from N …

Read More »

Arctic Oil is booming despite strong opposition

[ad_1] There is great interest in drilling for oil and gas in the Arctic, and not just from Russian companies, despite the political rush to transform global energy systems and phase out fossil fuels. A new report from Reclaim Finance, an organization that seeks to build a financial sector that …

Read More »

Russian ruble firms profit from rebound in oil prices ahead of OFZ bond auction

[ad_1] MOSCOW, September 22 (Reuters) – The Russian ruble strengthened on Wednesday ahead of a Treasury bond auction, helped by the rebound in oil prices above $ 75 a barrel (LCOc1>, amid caution ahead of the imminent policy decision of the US Federal Reserve. At 07:19 GMT, the ruble was …

Read More »

India’s oil imports hit four-month high in August

[ad_1] India’s oil imports jumped 23% month-on-month to a four-month high of 4.2 million barrels per day (bpd) in August as refiners prepare to increase crude throughputs for the festival season which begins next month, Reuters reported. Tuesday, citing data on tankers from commercial sources. India’s oil imports also increased …

Read More »

CGSB shares advance more than 4% on soaring crude oil prices

[ad_1] Over 1.4 crore of ONGC shares changed hands on the NSE within an hour of market opening. Shares of state-owned oil exploration company – Oil and Natural Gas Corporation (ONGC) rose 4.51% to a new 52-week high of Rs 134.30 on BSE following soaring oil prices. crude oil on …

Read More »

Canada’s oil industry could win big in hard-fought election

[ad_1] The future of Canada’s oil and gas industry – a major employer in the country and particularly in the oil-rich province of Alberta – hangs in the balance in Monday’s federal election, in which climate change is a key issue. key theme alongside the impacts of the pandemic on …

Read More »

Two industries hit by high oil and natural gas prices

[ad_1] A cross-section of Wall Street experts played down the recent surge in oil prices, saying it is unlikely to harm the global recovery. One indicator that supports this claim is the oil load, or the cost of oil as a proportion of gross domestic product. According to Morgan Stanley, …

Read More »

Selling platinum takes center stage as commodities rebalance

[ad_1] in large part thanks to a stronger dollar as well as an imminent cut in the Fed’s bond buying program. In a virtual speech at the Fed’s annual symposium in Jackson Hole in Kansas City, Federal Reserve Chairman Jerome Powell said the central bank could start cutting its monthly …

Read More »

Soaring energy prices could cripple the European economy

[ad_1] Soaring energy prices in Europe are not just affecting consumers. The price spikes have started to hit industrial activities, threatening to strike a blow at the post-COVID recovery in European economies with a triple whammy of reduced purchasing power of consumers, declining industrial production and higher operating costs. Giant …

Read More »

Gasoline and diesel prices could rise with soaring international oil prices as oil companies face squeezing margins

[ad_1] Petrol in Delhi currently costs Rs 101.19 per liter and diesel is priced at Rs 88.62 per liter A surge in international oil prices could translate into an increase in the retail price of gasoline and diesel in India as oil companies face extreme margin squeeze, sources said. Gasoline …

Read More »

Oil ends week on a bullish note as blackouts persist

[ad_1] Hurricane Ida is now officially the most devastating hurricane of all time in terms of disrupting oil production, and experts expect the blackouts to last through September. Friday, September 17, 2021 The Gulf of Mexico in the United States is gradually bringing back slack production capacity – to date, …

Read More »

The energy crisis in Europe is pushing up the prices of natural gas around the world

[ad_1] Natural gas prices around the world are skyrocketing amid a perfect storm of tight regional gas markets and soaring electricity prices in Europe. The natural gas rally is not yet over and there is still room to set new records, especially if the coming winter turns out to be …

Read More »

US on the verge of breaking another solar record despite rising costs

[ad_1] New solar power capacity additions in the United States are on track for a record year despite supply chain disruptions that led to price spikes that effectively ended the cheap solar narrative. In the second quarter alone, new solar installations grew 45% year-on-year to a total of 5.7 GW …

Read More »

Russian ESPO oil prices at 21-month high, boosted by strong Chinese demand

[ad_1] SINGAPORE, Sept. 16 (Reuters) – The rebound in demand for crude in China has pushed prices of a Russian-grade popular with independent Chinese refiners to the highest in 21 months, several trade sources said Thursday. Russian firm Surgutneftegaz (SNGS.MM) sold three cargo shipments of ESPO crude in November at …

Read More »

Heavy gasoline consumption fuels record oil demand in the United States

[ad_1] Demand for oil in the United States continues its upward trajectory, hitting an all-time high last week, as commodity inventories fell to their lowest level in three years. If the demand trend continues, oil prices could rise further for the rest of the year, some analysts say. Despite the …

Read More »

China sees opportunity as Venezuela’s oil industry hits rock bottom

[ad_1] Venezuela’s near collapse and strict US sanctions create an opportunity for Russia, Iran and China to strengthen their presence in Latin America, a region that has been under US hegemony for decades. While Russia and Iran have, to some extent, gained a foothold in Venezuela by providing crucial support …

Read More »

Rats, drought and labor shortages eat away at global edible oil recovery

[ad_1] Rodents relish palm fruits in Malaysia due to labor shortage Palm oil prices remain close to their all-time high Dry weather in canola regions of Canada has seen production slow High prices to encourage soybean planting in Brazil PERAK, Malaysia / SINGAPORE, Sept. 5 (Reuters) – At a sprawling …

Read More »

Gulf Keystone Distributes $ 100 Million Amid Soaring Oil Prices

[ad_1] F Former stock market darling Gulf Keystone Petroleum today showed signs of a rebound after a shareholder rebellion, driven by rising share prices and new management. Some in the city say GKP still has a high cost base and doesn’t pay a high enough dividend, but new chief executive …

Read More »

Oil-rich nations face increasing pressure to go green

[ad_1] Governments of long-established oil-rich countries around the world are being criticized for their decisions about oil and gas versus renewable alternatives. The once coveted natural resource is now a matter of great contention. But how will the oil industry fare over the next few decades as governments strive to …

Read More »

LNG’s position as a bridge fuel remains strong

[ad_1] When analysts sounded the alarm bells for Europe’s energy security earlier this month due to the looming shortage of liquefied natural gas, the culprit was identified as stronger demand for frozen fuel from Asia. But demand is still only one side of the story. The global supply of liquefied …

Read More »

Oil hedge fund optimism fades: Kemp

[ad_1] LONDON (Reuters) – Hedge funds have sold oil for the seventh time in nine weeks, as rising coronavirus infections in major oil-consuming markets dampened hopes of a rapid recovery in aviation from long-haul passengers. FILE PHOTO: A pumpjack is seen in Fellows, Calif. April 3, 2010. REUTERS / Lucy …

Read More »

Big Oil seeks to attract investors with massive dividends

[ad_1] Big Oil has just had another successful season, posting the second straight quarter of stellar growth of highs and lows. According to the latest FactSet data, the energy sector’s second-quarter 2021 revenue growth rate of 24.9% is well above Wall Street’s estimate of 19.4%, while the industry said A …

Read More »

Nord Stream 2 could crush European natural gas prices

[ad_1] We recently wrote about Soaring gas prices in Europe while Russian natural gas supplies have been surprisingly low, amid growing concerns about Europe’s inventory levels heading into winter. The uptrend in prices was finally broken yesterday – if only for now – as Bloomberg Stephen stapczynski explains, Dutch natural …

Read More »

Russia has big plans for arctic oil

[ad_1] Russia seems to want to sell the very last barrel of oil to the world. As other energy superpowers and petro-states around the world strive to diversify their economies and gain a foothold in the burgeoning green energy transition, Russia has categorically refused to reduce its dependence on its …

Read More »

Oil prices stable after US call for more oil raises supply concerns

[ad_1] White House: OPEC + output is not enough, may harm global recovery White House not asking US oil producers to increase production US crude and gasoline inventories are falling; lower fuel consumption -EIA SINGAPORE, Aug. 12 (Reuters) – Oil prices held steady on Thursday after two days of rising …

Read More »

Oil slips 4% on Chinese virus brakes and climate warning

[ad_1] WTI crude at its lowest since May China Reports Increase in New COVID-19 Cases Chinese July crude imports down 20% year on year UN panel issues dreadful climate change warning LONDON, Aug. 9 (Reuters) – Oil prices fell 4% on Monday, extending last week’s steep losses amid a rising …

Read More »

China doubles expansion of renewable energy

[ad_1] China is calling on its major utilities and local authorities to update the government monthly on their progress in building and installing renewable energy capacity as Beijing seeks to meet its energy targets. clean energy. China, which has pledged to achieve net zero emissions by 2060, a decade later …

Read More »

IHS Markit: natural gas is crucial in the energy transition

[ad_1] Natural gas could become a mainstay of short- and long-term emission reduction, IHS Markit said in a new study this week. While many analysts and net zero advocates have started to question the role of natural gas in reducing global emissions, IHS Markit takes a different point of view. …

Read More »

Exxon production drop is very bullish for oil prices

[ad_1] Last week, ExxonMobil (NYSE: XOM) posted its results for the second quarter of 2021 in one of Big Oil’s most anticipated dashboards this earnings season. The largest oil and gas company in the United States displayed stellar gains it proved that the worst for the US shale industry could …

Read More »

Oil Rises as Markets Expect Continued Drop in Inventories

[ad_1] US oil prices reverse after early rebound The brakes against the coronavirus and the slowdown in plant activity weigh heavily LONDON, Aug. 3 (Reuters) – Oil rose on Tuesday in anticipation of a continued decline in oil stocks in the United States, recouping some losses from the previous session …

Read More »

Oil trader Vitol gives top employees $ 7 million equivalent each

[ad_1] Updates from Vitol Holding BV Subscribe to myFT Daily Digest to be the first to know about Vitol Holding BV news. Vitol handed top executives and staff a record salary, giving the equivalent of more than $ 7 million to each of the approximately 400 partners of the London-led …

Read More »

Gasoline and diesel rates remain unchanged as international oil prices continue to fall

[ad_1] Fuel prices remain stable for the fourth day in a row as state-run oil companies maintain rates amid falling international oil prices. Fuel prices are expected to decline if the trend continues. Check out the latest gasoline and diesel prices. Fuel prices in the country are expected to fall …

Read More »

Oil bounces back as market takes advantage of lower prices

[ad_1] Fundraising after 7% drop on Monday amid COVID-19 concerns U.S. crude inventories set to fall for the 9th week in a row OPEC + deal to increase oil supply adds pressure Coming soon: API Weekly Oil Inventory Data at 4:30 p.m. ET / 2030 GMT NEW YORK, July 20 …

Read More »

Fuel rates rise again, petrol at 100.21 yen per liter in Delhi

[ad_1] Gasoline prices have crossed ₹100 per liter in Delhi and Calcutta on Wednesday after fuel retailers hiked gasoline prices by 35 paise per liter and diesel by 17 paise in the early hours of the morning, even as international crude oil prices fell on Tuesday following an inconclusive meeting …

Read More »

Jet fuel demand set to increase 30% in summer

[ad_1] The airline industry is at a critical inflection point. Regular vaccination deployments and declining infection rates in most Western economies allow commercial travel to resume after more than a year of stoppage. Altered vacation trips, postponed family reunions, newborn meetups, weddings, attending memorial services for loved ones are the …

Read More »

Data-rich week could lead to price swings in oil markets

[ad_1] Daniel Graeber, Corresponding June 7, 2021Update: June 7, 2021 at 5:35 am A series of reports updating demand forecasts could lead to price swings in oil markets this week. Elizabeth Conley, Houston Chronicle / Staff Photographer Monthly market reports from OPEC, EIA and IEA could result in a volatile …

Read More »

Top-tier hedge funds bet on little-known oil company

[ad_1] A high-profile hedge fund group is hoping to turn the tide of a crumbling battered North Sea oil and gas company in which they have built significant positions as energy prices soar. Taconic Capital, CQS and Kite Lake Capital are among the funds that hold positions in Norwegian Energy …

Read More »

US trillion dollar infrastructure security crisis

[ad_1] Last Friday, a cyberattack shut down America’s largest energy infrastructure, the Colonial Pipeline System, which supplies nearly half of the gasoline and diesel consumed by the East Coast. The attack naturally led to a rise in gasoline prices and a race on gas as drivers worried about impending shortages …

Read More »

Record Metal Prices Catapult Mining Profits Beyond Big Oil

[ad_1] Large oil producers, who for decades were the biggest earners in the natural resources industry, are being eclipsed by once smaller mining peers who are making record profits from burning metals markets. The mining windfall is the latest sign of a boom in iron ore, copper and other metals …

Read More »

Fuel prices unchanged as COVID-19 surge keeps crude stable, Energy News, ET EnergyWorld

[ad_1] New Delhi: Fuel prices in the country remained unchanged on Tuesday as oil marketing companies decided to press pause and analyze global developments before making a review. As a result, the pump price of gasoline and diesel remained at Rs 90.40 per liter and Rs 80.73 per liter respectively …

Read More »

BP Repurchases Shares As Oil Price Recovery Boosts Profits

[ad_1] Oil giant BP BP 1.63% PLC said it would increase shareholder returns after higher oil prices and strong trading results supported its first quarter earnings, the strongest sign to date that a recovery is underway in one of the sectors most affected by the pandemic. Oil companies have gone …

Read More »

Exxon withdrew from oil trade amid pandemic as rivals were making their fortunes

[ad_1] An Exxon gas station is seen in Houston, Texas, the United States on April 30, 2019. REUTERS / Loren Elliott Exxon Mobil’s efforts to create an energy trading company to compete with those of European oil majors quickly collapsed last year as the company slashed funding for the unit …

Read More »

BP Quarterly Profit Reaches $ 3.3 Billion As Oil Prices Rebound | BP

[ad_1] BP has announced its biggest quarterly profit since the start of the Covid pandemic and will offer investors a windfall of $ 500 million (£ 360 million) as global oil markets recover from the crisis. The oil company posted a profit of $ 3.3 billion for the first quarter, …

Read More »

Silver prices today: Commodity strategies: gold, silver, crude, base metals

[ad_1] By Tapan Patel Commodity prices traded higher on Tuesday, continuing the trend of the previous session. On Monday, bullion prices remained at a narrow trading range as base metals continued to soar on optimism in demand growth. Gross ended in green after an early decline. The dollar index and …

Read More »

COVID-19, moderate oil price will leave most of Gulf in the red this year: Fitch

[ad_1] DUBAI (Reuters) – The lingering impact of the COVID-19 pandemic and the sharp drop in oil prices last year will leave most Gulf governments with deficits this year, rating agency Fitch said. FILE PHOTO: Flames are seen at Saudi Aramco’s Shaybah Oilfield production facility in Empty Quarter, Saudi Arabia, …

Read More »

OPEC Ministerial Meeting in Brief

[ad_1] The price of crude oil has responded to the rise in COVID-19 cases in proportions equal to the continued optimism of the global economic recovery. Subsequently, it remained linked to its range before the OPEC ministerial meeting scheduled for Wednesday. At Monday’s Joint Technical Committee meeting, OPEC Secretary General …

Read More »

The 5 most influential oil companies in the world

[ad_1] At a virtual climate summit with 41 world leaders, President Joe Biden on Thursday unveiled an ambitious 10-year climate plan that proposes to cut U.S. greenhouse gas emissions by 50 to 52 percent d ‘by 2030. This represents a quasi-doubling the US commitment of a 26-28% reduction under the …

Read More »

Suriname hopes to become South America’s newest oil exporter

[ad_1] As Guyana prepares to become a major oil-producing nation, the spotlight is firmly on the Guyana-Suriname basin and Suriname, the former British colony’s neighbor. After decades of poor drilling results, ExxonMobil’s string of major high-quality oil discoveries in the Stabroek block off Guyana has rekindled interest in the oil …

Read More »

Surprise from Libyan oil production puts pressure on prices

[ad_1] Given the current imbalance between global oil supply and demand following the great waves of Covid-19 that hit the world last year, reports that Libya is now targeting 1.45 million barrels per day of oil production by the end of this year, 1.6 million bpd within two years and …

Read More »

Nordic Oil Firm Sells World’s First Certified Carbon Neutral Oil

[ad_1] Lundin Energy, based in Sweden mentionned Monday that he had sold the world’s first certified crude oil produced with net zero emissions from an oil field off the coast of Norway. Lundin Energy, which is active in many areas off the coast of Norway, the largest oil and gas …

Read More »

EU admits it can’t go to zero without natural gas

[ad_1] The past week was marked by much needed good news for natural gas. The European Union has indicated that it will include natural gas in its energy plans for the future, emissions and everything. The bad news is that by talking about emissions, the EU could force suppliers to …

Read More »

Canada fights to save Line 5 from shutdown

[ad_1] Canada has repeatedly raised with senior U.S. officials, including President Joe Biden, the issue of Enbridge’s Line 5 that Michigan wants to close, and is considering intervening in the legal dispute between the pipeline operator. and the U.S. state, sources familiar with Canada’s plans said. Reuters. The Line 5 …

Read More »

The Ugly Truth About Renewable Energy

[ad_1] When Texas literally froze in February, some blamed the power outages that left millions of Texans in the dark over wind turbines. Others blamed them on gas-fired power plants. The truth is not that simple politically. In truth, both wind turbines and gas plants froze due to abnormal weather …

Read More »

Crude Oil Price Forecasts – Crude Oil Markets Continue to Struggle

[ad_1] WTI crude oil The West Texas mid-market crude oil market fell significantly during Monday’s trading session as traders start to worry about India’s slowdown. After all, we are starting to see signs of declining domestic demand, which of course is very negative for crude oil as India is the …

Read More »

Missed opportunity: Hedges to reduce first-quarter profit for U.S. shale oil producers

[ad_1] A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, USA, November 22, 2019. REUTERS / Angus Mordant U.S. oil and gas operators face billions of dollars in hedging losses that will weigh on first quarter results as …

Read More »

Oil prices, IOG, United O&G. And finally…

[ad_1] Oil is really in the doldrums, last week WTI was down 99 cents and Brent down 66c, Wednesday’s Opec + meeting may not have much to do. Overnight India noted another 350,000 cases of Covid, which is horrific and its GDP growth of 12.5% ​​maybe for another day. That …

Read More »