Swedish climate activist Greta Thunberg was detained by police during a protest at the Energy Intelligence Forum in London. The “Oily Money Out” demonstration was organized by Fossil Free London and Greenpeace, aiming to disrupt the major energy conference attended by oil and gas executives, politicians, and civil society groups. Thunberg emphasized the need for… Continue reading Climate activist Greta Thunberg arrested at London protest after disrupting major oil conference

The U.S. Department of Energy announced that U.S. crude oil production reached an all-time high of 13.2 million barrels per day, surpassing Covid-era losses of over 3 million barrels per day. The recovery of the U.S. oil industry can be attributed to several factors, including renewed demand and higher oil prices, with WTI crude rebounding… Continue reading U.S. oil is back, and ExxonMobil’s $60 billion deal isn’t even the biggest signal

The Dogger Bank Wind Farm, described as the world’s largest offshore wind farm, has reached a significant milestone by producing its first power. Located in the North Sea off England’s northeast coast, the project features GE Vernova’s Haliade-X turbines, which are 260 meters tall with 107-meter blades. The installation and activation of the first turbine… Continue reading Check out the giant ship critical to building the world’s biggest offshore wind farm

The U.S. is set to establish seven “hydrogen hubs” eligible for up to $7 billion in federal funding as part of its commitment to reducing greenhouse gas emissions and promoting clean energy. These hubs will focus on the development of hydrogen production methods with minimal emissions. Hydrogen, as an emissions-free fuel source, is viewed as… Continue reading These seven U.S. regions will receive $7 billion in federal funding to produce hydrogen

Oil prices surged more than 4% following the United States’ decision to tighten sanctions on Russian crude exports, heightening concerns about an already tightly balanced energy market. International benchmark Brent crude futures for December delivery traded at $89.4 per barrel, while November U.S. West Texas Intermediate crude futures rose 4.1% to $86.3 per barrel. The… Continue reading Oil prices rise over 4% after U.S. tightens sanctions on Russian crude sales

The International Energy Agency (IEA) has warned that oil markets may remain volatile due to the Israel-Hamas conflict. While the conflict has not yet directly impacted oil supplies, the IEA noted a “sharp escalation in geopolitical risk” and expressed concerns that ongoing tensions in the Middle East could threaten regional energy production. The Middle East… Continue reading ‘Fraught with uncertainty’: IEA says oil markets to remain on tenterhooks as Israel-Hamas war persists

The article discusses a significant shift in the global energy landscape, marked by a growing disparity between the predictions of the International Energy Agency (IEA) and the perceptions of the oil and gas industry regarding the future of fossil fuels. The IEA’s executive director, Fatih Birol, recently made headlines by asserting that the demand for… Continue reading China’s Oil & Gas Giant Sinopec Says Peak Oil Demand Already Happened In China

Pioneer Natural Resources CEO Scott Sheffield has expressed concerns that oil prices could significantly rise if Iran becomes involved in the conflict between Hamas and Israel. He emphasized that if Iran enters the war, it would lead to much higher oil prices due to its status as a major oil producer and its support for… Continue reading Oil prices could surge if Iran enters the war, Pioneer Natural Resources CEO says

Exxon Mobil has confirmed its acquisition of Pioneer Natural Resources, a shale rival, in an all-stock deal valued at $59.5 billion or $253 per share. Under the terms of the agreement, Pioneer shareholders will receive 2.3234 shares of Exxon for each Pioneer share they own. The deal, which is the largest for Exxon since its… Continue reading Exxon Mobil agrees to buy Pioneer Natural Resources for nearly $60 billion in all-stock merger

The global oil market, despite facing increased risks due to Middle East turmoil, is in a better position to handle shocks compared to previous crises. Saudi Arabia and OPEC+ allies have reduced crude output this year to support prices, leaving them with a significant reserve of spare production capacity, the largest buffer in over a… Continue reading OPEC’s Spare Oil Buffer Can Help Market Weather Mideast Storm

The article discusses how Egypt is evaluating the potential impact of the stoppage of gas production at an Israeli field on its plans to resume liquefied natural gas (LNG) exports to Europe. Egypt aims to become a regional gas hub and has been exporting LNG to Europe using gas from domestic production and offshore fields… Continue reading How The Hamas Attack On Israel Could Derail Egypt’s LNG Export Plans

The recent surprise attack launched by the militant group Hamas on Israel from the Gaza Strip caused oil prices to surge by more than 3%. However, experts suggest that the impact on oil and gas prices, particularly in the United States, is likely to remain limited unless the conflict escalates further and involves third parties… Continue reading Israel-Hamas war causes oil prices to spike. Here’s what drivers in the U.S. need to know