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News

UK Expected To Win Battle With Spain For Jaguar-LandRover EV Gigafactory

UK Expected To Win Battle With Spain For Jaguar-LandRover EV Gigafactory

May 24, 2023 at 13:13 | City A.M

The UK is set to win a battle with Spain for the production of a multi-billion pound Jaguar Land Rover (JLR) electric vehicle battery plant, which could create…

UBS Predicts Lower Gasoline Prices In The U.S. This Summer

UBS Predicts Lower Gasoline Prices In The U.S. This Summer

May 24, 2023 at 09:56 | Michael Kern

UBS is forecasting stronger demand for gasoline year-on-year in the United States this summer, coupled with lower gas prices compared to the same period. The bank noted that consumer “resiliency”…

Commission Recommends EU To Stop Energy Bills Support By Year-End

Commission Recommends EU To Stop Energy Bills Support By Year-End

May 24, 2023 at 09:27 | Charles Kennedy

European Union member states should end financial support for energy bills by the end of 2023 in order to keep budget and fiscal targets within the recommended limits, the European…

Australia And India To Boost Clean Energy Cooperation

Australia And India To Boost Clean Energy Cooperation

May 24, 2023 at 08:13 | Charles Kennedy

Australia and India on Wednesday pledged to work closer to advance renewable energy, increase cooperation in the critical minerals sector, and study green hydrogen development during a visit of Indian…

South Africa Considers Countering Its Energy Crisis With Coal

South Africa Considers Countering Its Energy Crisis With Coal

May 24, 2023 at 07:34 | Tsvetana Paraskova

South Africa, which is going through an energy crisis, is weighing the possibility of extending the operational lives of two of its largest coal-fueled power plants to boost energy security,…

Goldman Sachs Predicts An Oil Price Rally

Goldman Sachs Predicts An Oil Price Rally

May 24, 2023 at 07:13 | Tsvetana Paraskova

Goldman Sachs continues to be bullish on crude oil and other major commodities, expecting a rally after the biggest-ever destocking in commodities that is currently underway. Should major economies, including…

Oil Prices Rise On Signs Of A Tightening Market

Oil Prices Rise On Signs Of A Tightening Market

May 24, 2023 at 02:32 | Tsvetana Paraskova

Oil prices rose in Asian trade early on Wednesday, following estimates of a large U.S. inventory draw and a warning from the Saudi energy minister for short sellers.    In…

Pemex Refinery Launch Gets Delayed Yet Again

Pemex Refinery Launch Gets Delayed Yet Again

May 24, 2023 at 01:10 | Charles Kennedy

The Olmeca refinery that the Lopez Obrador administration has touted as a major milestone in ensuring Mexico’s fuel security has been delayed once again. First scheduled to start operation in…

Crude Prices Rise On Surprise Inventory Draw

Crude Prices Rise On Surprise Inventory Draw

May 23, 2023 at 15:58 | Julianne Geiger

Crude oil inventories in the United fell this week by 6.70 million barrels, the American Petroleum Institute (API) data showed on Tuesday, with analysts expecting a 525,000 million barrel build.…

Czech Republic Moves Closer To Severing All Energy Ties With Russia

Czech Republic Moves Closer To Severing All Energy Ties With Russia

May 23, 2023 at 13:43 | Julianne Geiger

The Czech Republic made more progress in detangling itself from Russia in the matter of energy supplies. According to Prime Minister Petr Fiala, the country has signed a deal to…

Qatar: Aggressive Energy Transition Policies To Create Gas Shortages

Qatar: Aggressive Energy Transition Policies To Create Gas Shortages

May 23, 2023 at 11:28 | Julianne Geiger

Qatar has issued a warning to Europe about disruptions in the supply of natural gas as the energy transition policies of governments stifle the investments necessary for keeping…

Iraq Awaits Turkey’s Go-Ahead To Resume Kurdistan Oil Exports

Iraq Awaits Turkey’s Go-Ahead To Resume Kurdistan Oil Exports

May 23, 2023 at 07:09 | Tsvetana Paraskova

Iraq is waiting for a final go-ahead from Turkey before resuming oil exports from the semi-autonomous Iraqi region of Kurdistan via a pipeline to the Turkish Mediterranean port of Ceyhan,…

TotalEnergies And Africa Oil Withdraw From Kenyan Oil Project

TotalEnergies And Africa Oil Withdraw From Kenyan Oil Project

May 23, 2023 at 07:06 | Tsvetana Paraskova

French supermajor TotalEnergies and London-listed Africa Oil have decided to withdraw from an oil project in Kenya, leaving Tullow Oil the sole owner of the blocks and potentially further complicating…

Saudi Arabia's Energy Minister Tells Short Sellers To 'Watch Out'

Saudi Arabia's Energy Minister Tells Short Sellers To 'Watch Out'

May 23, 2023 at 06:57 | Tsvetana Paraskova

Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman has warned traders, again, against shorting oil futures, less than two weeks before the OPEC+ panel on production policy meets on June…

Boeing CEO Sees No Cheap Way To Decarbonize The Aviation Sector

Boeing CEO Sees No Cheap Way To Decarbonize The Aviation Sector

May 23, 2023 at 04:15 | Tsvetana Paraskova

Sustainable aviation fuel (SAF) can never achieve price parity with jet fuel to be able to compete with conventional fuels and help decarbonize the aviation sector, according to The Boeing…

China’s Coal Imports From Australia Surged By 75% In April

China’s Coal Imports From Australia Surged By 75% In April

May 23, 2023 at 03:14 | Michael Kern

China’s coal imports from Australia rose by 75% on the month in April as the country regains its taste for high-quality thermal coal, Bloomberg has reported, citing Chinese customs…

Repairs Force Shell To Cut Oil Imports At Its Singapore Refinery

Repairs Force Shell To Cut Oil Imports At Its Singapore Refinery

May 23, 2023 at 02:10 | Charles Kennedy

Shell has reduced the imports of crude oil for its refinery in Singapore as repair works at the facility have been extended to next month. According to a Reuters

China Is Breaking Records As Its Solar Industry Booms

China Is Breaking Records As Its Solar Industry Booms

May 23, 2023 at 01:14 | Irina Slav

China installed three times more solar capacity in the first four months this year than in the same period of last year, beating its own record. At this rate, the…

Oil Prices Inch Higher As Debt Ceiling Talks Drag On

Oil Prices Inch Higher As Debt Ceiling Talks Drag On

May 22, 2023 at 13:45 | Alex Kimani

Oil prices were marginally higher on Monday’s trading session on rising belief that the U.S. will avoid a default. Front-month Nymex crude oil (CL1:COM) for

Iraq Oil Output Continues To Fall Amid Turkey Spat

Iraq Oil Output Continues To Fall Amid Turkey Spat

May 22, 2023 at 11:34 | Alex Kimani

Oil production in Iraq’s semi-autonomous Kurdistan Regional Government (KRG)-ruled region has continued to drop, extending a stoppage that has lasted nearly two months. Export flows to Türkiye's Ceyhan port show…

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