After saying it would take years to refill the SPR, U.S. Energy Secretary Jennifer Granholm is now saying that the Biden Administration plans to refill the SPR soon. According to Secretary Granholm, the Biden Administration hopes to refill the SPR at lower oil prices yet this year—provided it is advantageous …

Despite OPEC+’s surprise production cut, the global oil market will remain in surplus this year and next as demand growth could be hurt by lower-than-expected economic growth in the coming months, the U.S. Energy Information Administration (EIA) said in its latest Short-Term Energy Outlook (STEO). The latest forecasts include declining …

The Italian government has given conditional approval for the sale of a refinery owned by Russia’s Lukoil to a Cyprus-based private equity firm, Reuters has reported, citing unnamed sources in the know. The conditions set by the Italian government for buyer G.O.I. Energy include guarantees that no jobs will be …

Iraq is asking a U.S. federal court to enforce a ruling against Turkey over crude oil exports Turkey received from the Kurdistan Region of Iraq. The exports from the semi-autonomous Kurdistan region of Iraq into Turkey still have not resumed, leaving multiple fields in the KRG region shut in. Turkey …

The U.S. administration is considering slashing the mileage ratings for electric vehicles (EVs) to meet fuel economy regulations for automakers, in a major overhaul of the Corporate Average Fuel Economy (CAFE) program. The U.S. Department of Energy is looking to reduce significantly the way petroleum-equivalent fuel economy for EVs is …

China’s Sinopec will take a stake in the eastern expansion of Qatar’s North Field liquefied natural gas (LNG) project, state energy company QatarEnergy said on Wednesday. The state-owned Chinese gas giant will take a 5 percent stake in the equivalent of one North Field East LNG train with a capacity …

Kazakhstan on Tuesday said it had begun international arbitration court proceedings against energy majors including ExxonMobil and Shell over $16.5 billion (15.2 billion euros) in costs deducted from the revenues from two oilfields. The government “has begun international arbitration against the Karachaganak and Kashagan (operating) companies,” Energy Minister Almasadam Satkaliev …

Betting that it can fulfil its green ambitions without atomic power despite the energy crisis caused by the Ukraine war, Germany is set to shut down its three remaining nuclear plants on Saturday. The cloud of white steam that has risen since 1989 over the river in Neckarwestheim, near Stuttgart, …

Sinopec, China’s oil and chemical giant, is set to build the first ‘West to East’ green hydrogen transmission line in the country, according to a report in state media. The company will construct a 400km pipeline from Inner Mongolia’s Ulanqab to Beijing to transfer hydrogen from renewable energy projects in …

European natural gas prices slid further as weather forecasts point to warmer and windier weather, signaling lower consumption of the fuel. Benchmark futures hit a two-week low, before paring some losses, with temperatures expected to rise in the coming days after April started on a chilly note. Relatively stable storage …