Tag Archives: Oil Price

Germany’s biggest utility RWE will supply green hydrogen to France’s oil and gas supermajor TotalEnergies in a 15-year deal from 2030, in one of the largest such agreements globally. RWE to supply around 30,000 metric tons of green hydrogen annually to TotalEnergies from 2030 to 2044, the German utility giant …

Once upon a time, in the not-so-distant past, the United States was the world’s largest importer of energy, guzzling down foreign oil and gas like a frat boy at a kegger. But the script has since flipped. Thanks to the shale revolution and a penchant for hydraulic fracturing (fracking), the …

Germany is undergoing a major political shift that will have sweeping implications for the nation’s energy sector. As Europe’s biggest economy, Germany’s energy policy does not just bear impact on a national level, but will reverberate throughout the European Union and then the world. In last month’s election, German politics …

Abu Dhabi’s national oil company ADNOC is considering an initial public offering of its newly-created energy investment firm XRG on a stock market outside the United Arab Emirates, in what could be one of the world’s biggest IPOs ever, Reuters reports, citing sources with knowledge of the plans. ADNOC announced …

BP boss Murray Auchincloss has defended the company’s move to increase fossil fuel production and ditch its renewable energy commitments. Auchincloss is under mounting pressure from BP investors, who are frustrated at the oil major’s underperforming share price. The executive unveiled plans for a “fundamental reset” two weeks ago, which …

Many countries across Europe are investing heavily in the development of green hydrogen projects to help decarbonise hard-to-abate industries in support of a green transition. Europe has been highly competitive with other emerging green hydrogen regions, such as the Middle East and Asia-Pacific. However, while Europe’s green hydrogen capacity expands, …

Carbon capture and storage (CCS) were the words on everyone’s lips a couple of years ago, as most big oil majors began to invest heavily in the technology to support decarbonisation efforts. However, as the first large-scale projects get off the ground, greater criticism has emerged around the technology. Governments …

While the slowdown in U.S. oil production continues, rallying natural gas prices are setting the stage for a rebound in America’s gas output this year, following months of output curtailments in 2024. Slowing natural gas production last year, fast-depleting inventories during the coldest winter in years, and record-high flows to …

Saudi Arabia just dialed back its crude prices for Asia, according to Aramco’s just-published rate sheet. The company has trimmed official selling prices (OSPs) for the first time in three months, with Aramco’s April price sheet now showing Arab Light at $3.50 per barrel over Oman/Dubai, a 40-cent cut. That’s …

Shell has started first oil production from the next development phase of a deepwater oil project offshore Malaysia, the UK-based supermajor said on Friday as Europe’s largest oil and gas companies are pivoting back to strategies to boost output of fossil fuels. Shell’s subsidiary Sabah Shell Petroleum Company Ltd, announced …