Kazakhstan’s oil production reached an all-time high in March despite the country’s continued pledges to start complying with its OPEC+ quota that it has been exceeding for years. As international supermajors are expanding oilfields in Kazakhstan, the non-OPEC producer part of the OPEC+ pact pumped as much as 2.16 million …
Read More »China Stops Buying U.S. LNG
China has not received a single cargo of U.S. liquefied natural gas in 40 days and there are currently no LNG tankers en route to the country, Bloomberg has reported, citing data it compiled from ship-tracking information providers and energy analytics provider Kpler. The purchase freeze was the result of …
Read More »Renewable Energy Stocks Drop to Five-Year Lows
Investors are increasingly bearish on renewable energy stocks with green indexes down to five-year lows, as the Trump Administration’s energy policy is chilling the low-carbon energy markets. Although it was up by 2% year to date as of Monday morning, the S&P Global Clean Energy Transition Index has lost 13.5% …
Read More »German Energy Minister: Europe shouldn’t Revive Nord Stream Gas Pipelines
Ideas to resurrect the Nord Stream gas pipelines from Russia to Germany are the “wrong direction of discussion”, Germany’s outgoing economy and energy minister Robert Habeck said on Monday. “The Ukrainians are still under the aggression of Russia. So I think talking about the potential of Nord Stream 2 or …
Read More »Petrobras Begins Talks on Long-Term LNG Deal with US Suppliers
Brazil’s state-owned Petrobras is in the midst of discussions with US LNG suppliers on a long-term import agreement, Reuters reported on March 14. Petrobras officials did not reveal which US suppliers the company has engaged in talks with; however, the discussions are part of the South American country’s efforts to …
Read More »EU to Soften Gas Storage Rules to Avoid Price Spikes
EU member states are considering softening the bloc’s binding gas storage targets in order to avoid sending gas prices soaring again ahead of what is anticipated to be a difficult year, Reuters reported on March 16. The EU’s storage tanks are expected to end this heating season only 35% full, …
Read More »Oil Advances as China Plans Economic Boost, Red Sea Risks Grow
Oil rose on Monday after top importer China said it would take steps to revive consumption by boosting incomes, and the US ordered fresh attacks on the Houthis in Yemen. Brent Brent Crude 0.74% to 71.11 (up $0.52) while WTI rose 0.73 per cent to $67.67 (up $0.49) per barrel …
Read More »Wave Energy Poised for Major Breakthrough
Wave energy could be primed for a swell of progress thanks to open data sharing. While advancements in wave energy have been piecemeal to date, an Australian startup believes that open-sharing principles can revolutionize research and development in the sector, with potentially huge ramifications for decarbonizing global energy grids. Waves …
Read More »India Strives for 500 GW Non-Fossil Power by 2030
India has been courting foreign and domestic investment in its clean energy industry in an effort to shore up energy security and meet the nation’s lofty decarbonization goals. But a new report reveals that while India has offered up record-breaking clean energy tenders, they have been met with weak demand, …
Read More »Iran Says will never Back down from Its Share in Global Oil Market
Iranian government spokeswoman Fatemeh Mohajerani stressed Tehran will never back down from its share in the global oil market. Mohajerani made the remark in a post on her X account on Saturday in reaction to the latest move by the US Treasury Department which imposed sanctions on Iran’s Oil Minister …
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