China has accelerated crude oil imports in March and April, but the increased purchases this spring aren’t necessarily a sign of recovering fuel demand in the world’s biggest crude importer. It’s more likely that Chinese refiners are aggressively stockpiling cheaper crude amid uncertainties about sanctioned barrels going forward, analysts say. …
Read More »EV Battery Giant Eyes $4 Billion in Hong Kong Share Issue
China’s CATL, the world’s largest electric vehicle battery maker is scheduled to issue new shares on the Hong Kong stock exchange, eyeing proceeds of as much as $4 billion. This will make its issue the largest this year in Hong Kong, the Financial Times reported, citing a prospectus filed with …
Read More »Oil Prices Surge as U.S. and China Agree to Tariff Cuts
Oil jumped by 3% early on Monday after the United States and China agreed to slash tariffs on each other, easing concerns about global trade and the economy. As of 6:52 a.m. on Monday, the U.S. benchmark, WTI Crude, was up by 3.13% at $62.93. The international benchmark, Brent Crude, …
Read More »Amid oil price challenges, Aramco announces Q1 results
Saudi Aramco has reported a fall in first-quarter net income, reflecting the turbulence of global energy markets and softer oil prices. However, the state-controlled oil giant underscored its commitment to shareholder returns with an increased base dividend, even as it recalibrates its overall payout strategy for the year to align …
Read More »Brazil’s Renewable Energy Revolution
Brazil is sending a message to the world that it can meet the needs of artificial intelligence (AI) with renewable energy, and the world is listening. The South American nation is flaunting its renewable energy sources and expansive energy grids to court tech companies to set up shop within its …
Read More »Trump’s Energy Policies are Set to Significantly Boost U.S. Emissions
Despite having invested heavily in clean energy under former President Joe Biden, the U.S. is now falling back into old habits, which is driving up its greenhouse gas emissions. Since coming into office in January, President Donald Trump has introduced a wide range of policies aimed at increasing fossil fuel …
Read More »South Pars Gas Output Volume to Increase by 15 mcm per Day
The CEO of the South Pars Gas Complex highlighted its role in supplying 73% of the country’s gas and announced the early start of major refinery overhauls, targeting a daily production rise of 10 to 15 million cubic meters. Speaking on the sidelines of the 29th International Oil, Gas, Refining …
Read More »Shell’s Deepwater Dreams Hit Delay in the Gulf
Shell’s plans to juice output from its deepwater Perdido development in the U.S. Gulf of Mexico just ran into a delay-shaped pothole. Two new wells intended to lift production from the Great White unit—one of the stars of the Perdido complex—won’t come online until the end of the year, the …
Read More »Oman Considering $8 Billion Sale of Natural Gas Assets
Oman is looking to sell a stake in natural gas assets valued at about $8 billion, according to people familiar with the plan, as the sultanate seeks to raise cash to shore up its state finances and fund investments. State-owned firm Energy Development Oman SAOC is seeking partners for a …
Read More »Brussels must Fight to Save Nuclear Energy in Europe
The recent blackout in Spain and Portugal has reignited the debate around the closure of nuclear power plants across the European Union. Political forces such as the European Greens, alongside environmental organisations like the European Environmental Bureau (EEB) and Friends of the Earth Europe, have urged the EU to phase …
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