The next U.S. president will have a very limited set of tools to materially boost oil supply in the United States, according to investment bank Goldman Sachs. Whoever wins the presidential election in November will have to contend with low stocks in the Strategic Petroleum Reserve (SPR). Moreover, any regulatory …

Canada’s federal government plans to postpone the sale of the state-owned Trans Mountain oil pipeline for after the 2025 general election amid politics, regulations, and slow progress in talks with indigenous groups, Bloomberg reported on Friday, quoting officials with knowledge of the discussions within the cabinet. The Federal Government of …

Hungary will face fuel shortages from September if full Russian oil flows are not restored, a government official said on Friday, accusing Ukraine of blackmailing it by partially suspending supplies. Eastern European Union members Slovakia and Hungary have been hit by a stop in flows from Russian group Lukoil coming …

Chinese energy and chemicals giant Sinochem Group is in discussions to sell its 40% stake in a producing oilfield offshore Brazil, Bloomberg reported on Friday, citing sources with knowledge of the talks. Sinochem, which paid $3.07 billion for a 40% stake in the Peregrino oil and gas field in the …

Eni SpA raised its oil and gas production guidance and said it would accelerate the pace of share buybacks after reporting on Friday better-than-expected earnings for the second quarter, driven by its upstream division. The Italian energy major booked an adjusted net profit of $1.63 billion (1.5 billion euros) for …

U.S. natural gas-fired power generation jumped this week amid the lowest wind power output in 33 months seen on Monday while demand for cooling is rising in the summer. On July 22, wind power output in the Lower 48 states was at its lowest level in the country since October …

A team from the Institute of Chemical Technology (ITQ), a joint research center of the Polytechnic University of Valencia (UPV) and the Higher Council for Scientific Research (CSIC), and the UPV’s Institute of Information and Communications Technologies (ITACA) has developed the design of materials that can improve the process of …

In line with global green transition aims, pressure is increasing to support developing countries around the globe to tackle climate change and develop their renewable energy capacity. The COP29 host country Azerbaijan is now in charge of setting up a new climate fund, aimed at encouraging fossil fuel producers to …

Amid softer EV demand and worsening profit margins this year, Tesla is setting its sights on AI as Elon Musk is betting more on self-driving and artificial intelligence. The AI hype has investors hooked in the past three months since Tesla’s underwhelming first-quarter deliveries and earnings numbers published in April. …

Russia, Iraq, and Kazakhstan have submitted their compensation plans to the OPEC Secretariat for overproduced crude volumes for the first six months of 2024. According to OPEC, the entire over-produced volumes will be fully compensated for over the next 15 months through September 2025, with Russia ‘paying back’ a cumulative …