Tag Archives: Oil Price

Late in the race, Russia has recently announced investments targeting electric vehicle (EV) growth in an attempt to catch up with the transition across the rest of Europe. Russia is expected to start work on its EV infrastructure creation, starting in Moscow. The city plans to install 200 EV charging …

The number of oil and gas rigs in the United States is up 7 this week, according to Baker Hughes, which pegged the total rig count at 491, up 240 from the same time last year. The U.S. oil rig count rose by 7 this week to 387. The number …

China has been raising its marine fuel sales in recent years, aiming to grow its share of Asia’s large bunkering market, which is valued at more than US$30 billion and is dominated by Singapore, Bloomberg reports. Singapore, the leader of the bunkering market, sold nearly 50 million tons of marine …

As oil prices continue to rise and global demand is bouncing back to pre-pandemic levels, people could be buying into electric vehicles (EV) as an alternative to expensive fuel costs. The International Energy Agency (IEA) says that rising oil prices are expected to encourage people to shift away from traditional …

President Biden and Chancellor Angela Merkel agreed to disagree on the Nord Stream 2 gas pipeline project of Gazprom during Merkel’s visit to Washington. Per a Reuters report, President Biden said, “Good friends can disagree,” with regard to the pipeline, which the United States opposes with the argument that Russia …

There’s a lot of buzz going around about green hydrogen. It’s virtually emissions-free, it burns hot enough to replace combustible fossil fuels, and when it combusts it leaves behind nothing but water vapor — a seeming silver bullet for the clean energy industry. Not only can it be used to …

Oil prices were little changed and trading only slightly down early on Monday while the market is waiting for the OPEC+ group to begin a third day of meetings to try to reach a consensus about oil production levels in the coming months. As of 10:15 a.m. EDT on Monday, …

The oil and gas industry is embracing new technologies to save time and costs and, most recently, to reduce the carbon footprint of its supply chain as the energy sector is under increased pressure to reward shareholders while helping to fight climate change. Along with artificial intelligence, machine learning, digital …

There is economic life after the pandemic. While the novel coronavirus hasn’t been vanquished, oil demand has significantly risen in the past couple of months. According to the IEA, by the end of 2022 demand could have rebounded to pre-Covid levels. Rising prices are causing mild distress in Moscow which …

The U.K. continues to stand by its oil and gas commitments even following this month’s G7 climate change conference in Cornwall, international pressure to move away from fossil fuels, and the ceasing of operations by other North Sea states. Energy minister Anne-Marie Trevelyan stated this week that the U.K will …