Tag Archives: Oil Price

As if the EV boom needed another nail its in coffin, the UK has now produced figures showing that driving and electric vehicle is “up to twice as expensive” as driving a regular gas powered car. Data from the app ZapMap has confirmed that operating an electric vehicle (EV) can …

Central Asian countries are taking steps to broaden relations with their southern neighbor, the Taliban-led Afghanistan, despite the hard-line group’s increasingly restrictive policies, particularly toward women. Kyrgyzstan removed the Taliban from its list of terrorist organizations earlier this month, Turkmenistan resumed work with Afghanistan on a major gas-pipeline project, and …

Saudi Aramco, the world’s largest oil company, is looking to raise up to $3 billion from U.S.-dollar denominated Islamic bonds, Reuters reported on Tuesday, quoting sources with direct knowledge of the plans. Aramco, which is also the world’s single biggest crude oil exporter, plans to issue Islamic bonds, the so-called …

Crude oil exports from Libya have crumbled to around 400,000 barrels per day (bpd) this month from 1 million bpd in August as the political standoff in OPEC’s North African producer continues, Reuters reported on Tuesday, citing data from ports and ship-tracking services. Most of Libya’s oil exports this month …

The United States is exporting gasoline more than any other nation in the world, supplying more than 16% of all exports of the fuel globally, the U.S. Energy Information Administration (EIA) said in an analysis on Tuesday. Last year, U.S. motor gasoline exports (finished gasoline plus gasoline blending components) averaged …

OPEC’s latest World Oil Outlook (WOO) 2024 makes it clear: peak oil demand is not on the horizon. Despite ongoing discussions around transitioning to renewable energy, OPEC forecasts global oil demand to grow significantly, reaching over 120 million barrels per day (mb/d) by 2050. This projection is driven by strong …

Canada and Mexico are rushing to fill the natural gas vacuum left by the United States’ ongoing moratorium on new liquefied natural gas (LNG) export permits introduced by the Biden Administration in January of this year. The country’s neighbors to the north and south are speeding up their own export …

When the Labour Party came into power, it vowed to tax the oil and gas industry more. Warnings this might backfire fell on deaf years. Now, banks are refusing to lend to North Sea operators. It may well end with energy shortages. “To deliver our clean power mission, Labour will …

Shell Plc has ditched plans to build a low-carbon hydrogen plant on Norway’s west coast due to a lack of demand, Reuters reported on Monday. “We haven’t seen the market for blue hydrogen materialize and decided not to progress the project,” a Shell spokesperson has told Reuters. Shell’s announcement comes …

China’s crude oil imports from Russia jumped by 25.6% month-on-month in August as Beijing last month welcomed the highest monthly crude arrivals so far this year, taking advantage of cheaper supplies. China imported 2.21 million barrels per day (bpd) of crude from Russia in August, according to data from the …