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Spare oil production capacity at the highest quartile in history is weighing on Brent crude prices, and time spreads have looked undervalued since the summer, according to Goldman Sachs. The expectations for a large surplus next year are also likely weighing on the deferred time spreads, the investment bank said …

Equinor has made an oil and gas discovery next to the giant Troll field in the North Sea and will continue to explore the area for further potential resources close to existing infrastructure. The discovery, provisionally named Ringand, is currently estimated to contain between 2 and 12 million barrels of …

Following a big push from the government and electric vehicle (EV) producers, the U.K. is expected to undergo a significant shift away from internal combustion (ICE) vehicles in favour of EVs in the coming years. This news comes despite lower-than-expected EV sales in the U.S. and Europe this year, which …

Building the Rogun Dam in Tajikistan to its maximum projected height and specifications would be an economic disaster for Central Asia’s poorest nation, and an environmental nightmare for the entire region, according to a newly published expert report. The advent of new technologies for electricity generation means that Tajikistan’s already …

A maritime disaster unfolded in the Black Sea when a Russian oil tanker dramatically split in half during a severe storm, raising serious environmental concerns. The cargo ship Volgoneft-212, carrying over 4,000 tonnes of heavy fuel oil, broke apart after being struck by a massive wave near the Crimean coast. …

Bitcoin surged to a record high above $106,000 on Monday after U.S. President-elect Donald Trump suggested he plans to create a U.S. bitcoin strategic reserve similar to its strategic oil reserve, stoking the enthusiasm of crypto bulls, Reuters reports. Bitcoin , the world’s biggest and best known cryptocurrency, hit a …

The world’s top LNG importer, China, has hit the brakes on spot LNG purchases in recent weeks as Asian prices have hit the highest level for the year. After several months of stocking up on cheaper LNG supply, Chinese natural gas inventories are now estimated to be high enough to …

The supermajors are moving into power generation, tempted by forecasts of a looming surge in demand. Yet there is a twist: the temptation is natural gas generation. Wind and solar—typically described as green or clean power—are turning into a fiasco for Big Oil. Chevron and Exxon both recently said they …

Coal ash is currently a hot topic in United States politics. Just yesterday, the Supreme Court ruled to allow the Biden administration to move forward with a plan to address toxic coal ash, in the latest update in a drawn-out legal battle over monitoring and remediation of the toxic substance. …

Europe is starting to reach its limit when it comes to wind power. Countries like Denmark and Sweden, once leaders in expanding offshore wind capacity, are now hitting obstacles as power prices and incentives fall too low to support new projects, according to Bloomberg. A recent Danish auction for offshore …