U.S. natural gas prices topped benchmarks in both Europe and Asia for the first time ever this week, giving buyers of U.S. LNG another reason to cancel cargoes. Front-month gas futures for June delivery at the Henry Hub benchmark in Louisiana settled over both the Japan/Korea Marker (JKM) and the …
Read More »U.S. to Renew Waiver for Iraq to Import Iranian Electricity for 120 Days: State Department
The United States will grant a 120-day waiver for Iraq to continue importing electricity from Iran to help the new Iraqi government succeed, U.S. Secretary of State Mike Pompeo told the newly installed Iraqi prime minister. “In support of the new government the United States will move forward with a …
Read More »US Energy-Related CO2 Falls 2.8% in 2019
Energy-related carbon dioxide (CO2) emissions in the US declined year-on-year by 2.8% in 2019, the country’s Energy Information Administration (EIA) said on Tuesday. The US’ energy-related CO2 emissions registered at 5,130 million metric tons (MMmt) in 2019, which was slightly below the level recorded in 2017 of 5,131 MMmt, the …
Read More »Saudi, Russia, US Share Fight Intensifies in Oil Market
The world’s three biggest oil-producing countries, Saudi Arabia, Russia and the US have intensified their fight for a greater share of the global oil market as sluggish oil demand worldwide continues with low crude prices. Due to the novel coronavirus (COVID-19), oil consumption around the world has weakened over the …
Read More »US Natural Gas Prices Jumps to 15-Week High
U.S. natural gas futures jumped on May 4 to a 15-week high on forecasts for cooler weather and more heating demand over the next two weeks than previously expected and a slowing of output as drillers shut oil wells in shale basins due to the 67% collapse in crude prices …
Read More »US Announces $9m Prize for Solar-Powered Desalination Projects
The competition aims to develop cost-cutting systems to increase freshwater supply across the US.
Read More »Russia Slams US for Obstructing Iran’s Loan Request from IMF
Russia’s Deputy Foreign Minister Alexander Pankin on Monday lashed out at US’s attempt for obstructing a loan by the International Monetary Fund (IMF) to the Islamic Republic of Iran and Syria amid the pandemic.
Read More »Rosneft Sells Venezuelan Assets to Russia after U.S. Sanctions Ramp Up
The impact of the move, announced at a time when oil prices are languishing at around $25 per barrel, on Rosneft’s upstream joint ventures with Venezuelan state oil company Petroleos de Venezuela was not immediately clear. The U.S. government has ramped up pressure on Venezuelan President Nicolas Maduro’s government, including …
Read More »Solar and Wind Cheapest Sources of Power in Most of the World
Solar and onshore wind power are now the cheapest new sources of electricity in at least two-thirds of the world’s population, further threatening the two fossil-fuel stalwarts -- coal and natural gas.
Read More »US Oil Production to Be Cut Down by 30,000bpd between May and June
The ongoing Covid-19 pandemic and the subsequent drop in demand have resulted in production cuts around the world.
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