Tag Archives: Oil Price

As if China’s solar panels and equipment companies haven’t already been reeling from low product prices and overcapacity, the U.S.-China trade war and the triple-digit tariffs are adding insult to injury to the profitability of the Chinese solar manufacturing industry. All top Chinese solar equipment producers booked losses for the …

Equinor reiterated on Wednesday it plans to return $9 billion to shareholders in dividends and buybacks this year despite a slight miss in its first-quarter earnings. The Norwegian energy giant reported today adjusted operating income after tax of $2.25 billion for the first quarter of 2025, down from $2.57 billion …

Chinese coal producers and oil refiners are struggling with weaker profits compared to other industrial earnings amid an oversupply of coal and refined products in a weak demand environment. Demand for these commodities, as well as for steel, could be further dampened in the months ahead in the U.S.-China trade …

A massive and sudden power outage swept across the Iberian Peninsula this afternoon, plunging vast swathes of Spain and Portugal into darkness and triggering significant disruptions to critical infrastructure and essential services. The blackout, which commenced at approximately 12:00 PM GMT, has impacted major urban centers and transportation networks, leaving …

The operator of the largest gas-fired electricity generation fleet in America believes that renewables will be vital to meet the rise in power demand driven by AI and the reshoring of manufacturing. NextEra Energy – whose 72 gigawatts (GW) operating portfolio consists of 55% renewables, 36% gas, and 8% nuclear …

Crude oil prices started trading this week with a gain despite mixed signals from Washington regarding tariff negotiations with China. At the time of writing, Brent crude was trading at $67.03 per barrel, with West Texas Intermediate at $63.22 per barrel, after Treasury Secretary Scott Bessent said on Sunday he …

The Trump Administration is pushing the International Energy Agency (IEA) to ditch its focus on the energy transition and promotion of renewable energy sources, two sources briefed on recent IEA meetings have told POLITICO. Reports emerged as early as last summer during President Donald Trump’s presidential campaign that if elected, …

Iran and Russia are enhancing further their energy cooperation as Russian companies signed a deal to develop oilfields in Iran and the countries discuss the creation of a natural gas hub in the Islamic Republic. Iran’s Oil Minister Mohsen Paknejad is currently on a visit to Moscow, where the two …

Eni has confirmed an oil discovery at the Capricornus 1-X well in the Orange basin offshore Namibia. The drilling took place in Petroleum Exploration Licence 85 (PEL85), operated by Rhino Resources with a 42.5% working interest. Azule Energy, a joint venture between Eni and bp, also holds a 42.5% stake, …

As India looks to boost its nuclear power generation, the government is considering allowing foreign companies to own up to a 49% stake in Indian nuclear power plants, government sources told Reuters on Friday. Even if India passes amendments in its nuclear foreign investment laws to allow up to 49% …