The UK government’s decision to impose a 65% tax rate on the nation’s offshore energy providers will do long-term damage to the industry – and raise the risk of future energy shortages, OEUK has told […]
(Bloomberg) — OPEC+ is more than half a billion barrels behind on its pledge to supply world markets with oil, exacerbating concerns about the group’s ability to balance the global market. In May 2020, the […]
It’s the question everyone is asking: Are we about to enter a recession? A tepid stock market, soaring inflation, and rising interest rates have left Americans less than optimistic about the state of the economy. […]
Chevron Corporation earlier this month completed its previously announced acquisition of biodiesel production company Renewable Energy Group, Inc. (REG) following approval by REG stockholders. “We have brought together companies with complementary capabilities, assets, and customer […]
Indirect nuclear talks between the United States and Iran have reportedly ended without agreement. The lack of progress has cast doubt on the possibility of any breakthrough in the foreseeable future. Oil prices inched higher […]
The Chinese government has announced that it will subsidize refiners if international benchmark crude prices hit $130 per barrel. COVID lockdowns have crippled China’s refinery output. The Chinese government will offer subsidies to refiners initially […]
Saudi Arabia and the UAE have starring roles to play in the oil market this summer, as the only producers in the world holding any significant spare output capacity. But much of it is from […]
More LNG sector investment is needed to respond to the current energy crisis and to aid efforts to phase out Russian gas dependency, G7 leaders have agreed. With global gas prices having reached record highs […]
A coalition of environmental groups on Wednesday sued the Biden administration over its approval of oil and gas lease sales in four Western states. The lease sales in Montana, Nevada, North Dakota and Utah mark the first […]
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.8 million barrels from the previous week. At 415.6 million barrels, U.S. crude oil inventories are about 13% below the five […]
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