ExxonMobil joined major lithium producers this week in reiterating a bullish outlook on long-term lithium demand despite the current bearish market and recent price slump of the metal critical for the energy transition. Lithium prices have…
With the election just one week away, Labour’s pledge to “make Britain a clean energy superpower” has sparked a debate on whether or not their net zero scheme is actually achievable. Sir Keir Starmer revealed that Labour’s transition team…
“China has changed the energy world, but now China is changing,” the International Energy Agency (IEA) reported in their 2023 flagship World Energy Outlook. The second-largest economy in the world has saturated its own market. After years…
Via Metal Miner Overall, June 2024 financial market conditions showcased significant market stabilization for the global economy. The World Bank’s projection of a 2.6% growth rate for the year signals the first steady market expansion and…
The UK economy grew by 0.7 per cent between January and March, a far stronger figure than the 0.6 per cent previously estimated, the Office for National Statistics has said in revised figures. This is the fastest pace since 2021 and the…
The German government has recently transferred a substantial amount of Bitcoin to centralized exchanges, fueling market discussions and speculations. According to data from blockchain analytics firm Arkham, the German Federal Criminal…
In a landmark decision, the U.S. Supreme Court has overturned the Chevron doctrine, a decades-old legal precedent that granted federal agencies the authority to interpret ambiguous laws. The 6-3 ruling marks a significant shift in the…
The U.S. Department of the Interior will hold next month an offshore wind lease sale in the Central Atlantic as the Biden Administration continues to pursue advancing renewable energy installations, the Interior said on Friday. The areas,…
The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 7 to 581 this week, compared to 674 rigs this same…
Ukrainian President Volodymyr Zelenskiy on June 27 signed security agreements with the European Union, Estonia, and Lithuania at the start of a two-day EU summit in Brussels. The security deal with the European Union reinforces the bloc’s…
Supreme Court Halts EPA's Good Neighbor Plan: Implications for the Oil and Gas Industry In a significant decision affecting environmental regulation and interstate pollution, the Supreme Court has temporarily halted the Environmental…
The United States on June 27 issued fresh sanctions against Iran in response to Tehran further expanding its nuclear program, U.S. Secretary of State Antony Blinken said in a statement. "Over the past month, Iran has announced steps to…
Germany and Morocco signed on Friday in Berlin an alliance on climate and energy to boost cooperation in renewable energy installations and hydrogen production in the North African country. Morocco has excellent conditions to host solar…
China Three Gorges Renewables plans to invest $11 billion (80 billion Chinese yuan) in a huge integrated power project in China with solar, wind, and coal power capacity plus a storage facility. China Three Gorges Renewables, a unit of the…
Oil prices have surged over the last three weeks as geopolitical tensions climbed, although concerning economic data in the U.S. could drag prices back down.Friday, June 28, 2024All eyes are fixed on US inflation data as crude oil prices…
Repsol has been in discussions to merge its UK North Sea operations with NEO Energy in what could be another consolidation offshore the UK, where operators struggle with a high windfall tax. The Spanish energy major has been holding…
Spanish energy major Repsol could be the next company involved in the mergers and acquisitions wave in the U.S. shale patch as it considers selling up to a 49% interest in its assets in the Eagle Ford play in South Texas, Reuters reported…
1. Brazil Fails to Bring the Oil Bonanza into 2024 - Brazil has been one of the fastest-growing oil producers of the 2020s, reaching a crude production all-time high of 3.73 million b/d in early 2024, but production woes have hampered its…
Geopolitical Tensions Drive Oil Higher Crude oil futures are set to close over 2% higher this week, primarily driven by escalating tensions between Israel and Hezbollah. The market has largely shrugged off soft U.S. gasoline demand,…
Politics, Geopolitics & Conflict Libya continues to unravel, quietly, with indications mounting that rival governments are regrouping for something big. Earlier this week, aided by US intelligence, Italian authorities intercepted a cargo…
Those who have been reading my contributions here for a while will know that I am not really a momentum guy. By training and nature, I am more of a contrarian. I like to look for bargains and hate the idea of buying something that has…
Oil markets were looking at two things this week (and likely next week): The eternal debate on supply and demand, and an Israel-Lebanon war that requires only a very small push to move it into full-on conflict mode. Late on Thursday,…
The Federal Energy Regulatory Commission (FERC) has granted authorizations for Venture Global’s CP2 LNG Project in Louisiana, the first LNG project to secure a construction authorization since the Biden Administration paused project…
A California law that limits the drilling of new wells near homes and schools is set to take effect after the oil industry dropped a proposal to fight these limits on the November ballot and chose to pursue legal action instead. In 2022,…
LandBridge, owner of 220,000 acres in the Delaware Basin, went public this week, raising $246.5 million from the sale of 14.5 million shares. The company, according to a Bloomberg report, priced the shares below the initial range of…
The U.S. Senate budget committee has initiated an investigation into close to 20 large oil and gas producers following allegations about collusion between the industry and OPEC to push oil prices higher by constraining production. The…
Crude oil prices looked primed to extend a two-week rally this week amid deepening tensions between Israel and its neighbors, notably Lebanon. Fears of a widening Middle Eastern war turned oil traders bullish, with Brent crude moving…
By 2034, the world will have developed carbon capture capacity of 440 millions tonnes per annum (Mtpa) while storage capacity will reach 664 Mtpa, requiring $196 billion in total investment, global energy data and analytics provider Wood…
China, the world’s biggest investor in and generator of wind and solar power has been stocking up on coal in anticipation of peak demand during the summer. Now, the move is about to start paying off as temperatures rise and so does demand…
Impoverished South American country Guyana, once long ignored by the world, has emerged as a major global oil producer after supermajor Exxon made a swath of world-class discoveries in its territorial waters. Since production began in 2019…