Latest news

Western Europe
Jun 15, 2024

UK's Petrofac states still facing difficult contracts, shares tumble

Oilfield companies Petrofac said on Friday it was still facing challenges in protecting efficiency warranties for new agreements and that it stays in talks with loan providers...

Asia / Pacific
Jun 15, 2024

India's Bharti Hexacom jumps 54% in debut trade at over $5 bln assessment

Bharti Hexacom's shares surged 54.4% in their trading launching on Friday, beating experts' expectations and valuing the Indian telecom operator at 440 billion rupees ($ 5.28 billion)....

North America
Jun 15, 2024

Motiva reboots two CDUs at Port Arthur, Texas refinery, sources say

Motiva Enterprises restarted two crude distillation systems (CDUs). overnight at its 626,000 barrelperday (bpd) Port Arthur, Texas. refinery, the nation's largest, after a power outage on. Wednesday,...

Ukraine
Jun 15, 2024

Putin: Russia needed to attack Ukraine energy sites in response to Kyiv's strikes

President Vladimir Putin said on Thursday that Russia had actually been obliged to release strikes that have actually caused heavy damage on Ukrainian energy websites in response...

Environment
Jun 15, 2024

La Nina weather condition 60% likely to develop from June-August, says United States forecaster

A U.S. government weather condition forecaster expects an about 60% chance of the La Nina weather pattern characterized by unusually cold temperatures in the Pacific Ocean emerging...

Italy
Jun 15, 2024

Death toll from Italian hydroelectric plant blast increases to five

Italian rescuers found the body of 2 more workers who had actually been missing following an underground explosion at a hydroelectric plant near Bologna, the fire brigade...

Asia / Pacific
Jun 15, 2024

OPEC sees robust summertime oil demand, financial upside possible

OPEC forecasted robust fuel use in the summertime on Thursday and stuck to its projection for reasonably strong growth in global oil demand in 2024, highlighting an...

Asia / Pacific
Jun 15, 2024

EU Parliament authorizes legal choice to obstruct Russian LNG imports

The European Parliament voted on Thursday to pass rules allowing European governments to restriction Russian liquefied natural gas (LNG) imports, by preventing Russian firms from booking gas...

North America
Jun 15, 2024

Oil and gas firm GeoPark to purchase blocks in Argentina's Neuquen Basin

Latin American oil and gas manufacturer GeoPark said on Thursday it had sent a binding offer to get a nonoperated working interest in unconventional blocks in the...

Ukraine
Jun 15, 2024

Russia says it inflicts 'huge' retaliatory strike on energy websites in Ukraine

The Russian defence ministry said on Thursday it hit fuel and energy complex facilities in Ukraine with a enormous retaliatory strike utilizing highprecision, longrange weapons from air...

East European Countries
Jun 15, 2024

VTB's Kostin: Russia payments concerns growing in 'friendly' countries

The variety of payments being refused by banks in countries which Moscow considers friendly has actually grown while the list of foreign lending institutions prepared to deal...

ASEAN Countries
Jun 15, 2024

Trafigura consortium in talks to buy Exxon oil refinery in France

Rhone Energies, a consortium of commodity trader Trafigura and Entara LLC, remains in exclusive settlements with Exxon Mobil's ESSO SAF to acquire the FossurMer refinery in southern...

Germany
Jun 15, 2024

Germany's Amprion increases grid investment strategy by 25%.

Germany's Amprion on Thursday announced a 25% increase in its rolling fiveyear investment plan for its power transmission network with a view to handling more renewable electrical...

Australia
Jun 15, 2024

Australia's Santos investors re-elect Keith Spence as chair

Australia's Santos reelected Keith Spence as its chair after a bulk of investors voted in his favour regardless of discontent over the oil company's inadequate reaction to...

China
Jun 15, 2024

Iron ore drifts higher as soft China data triggers stimulus hopes

Iron ore futures prices wandered higher on Thursday as the most recent soft data from top customer China set off renewed hopes of more stimulus in the...

China
Jun 15, 2024

China says EU subsidy probes hinder China, Europe cooperation

Aid investigations started by the European Union disrupt the mutually advantageous cooperation in between China and Europe, and China resolutely opposes them, a Chinese commerce ministry official...

Spain
Jun 15, 2024

Russian LNG accounts for a quarter of Spanish gas imports in March

Melted gas (LNG) from Russia made up practically 26%. of Spain's gas imports in March, up from 14.4% a year earlier,. validating that the Iberian country is...

Crude Oil
Jun 15, 2024

Yemen's Houthis target four vessels in Gulf of Aden, spokesman states

Yemen's Houthis stated on Wednesday they targeted 4 vessels, including what they referred to as a U.S. warship, with drones and naval missiles in the Gulf of...

North America
Jun 15, 2024

Chevron CEO's pay rose 12% to $26.5 million in 2023, employees lag

U.S. oil significant Chevron's. CEO Michael Wirth was paid $26.5 million in 2023, a 12.2% increase. from the prior year and above the median pay raise for....

Energy Markets
Jun 15, 2024

US detectives interview ship workers in Maryland bridge collapse

U.S. National Transportation Security Board chair Jennifer Homendy said at a. Senate hearing Wednesday that private investigators had actually conducted. interviews with crucial cargo ship workers in...

Asia / Pacific
Jun 15, 2024

U.N. environment chief states 2 years to save the world

Federal governments, business leaders and development banks have 2 years to take action to avert far even worse climate change, the U.N.'s environment chief stated on Wednesday,...

Asia / Pacific
Jun 15, 2024

Russia's Orsk refinery states force majeure on fuel supply due to floods

Russia's Orsk oil refinery, which has actually halted output after prevalent floods, declared force majeure on fuel supplies from April 8, according to a document issued by...

Germany
Jun 15, 2024

GRTgaz to buy France-Germany cross-border hydrogen pipeline

French gas grid operator GRTgaz will invest 40 million euros ($ 43.4 million) in a. 110millioneuro prepared hydrogen pipeline due to connect France. and Germany, its President...

Asia / Pacific
Jun 15, 2024

Dalian iron ore increases but caution grows over China demand healing

Dalian iron ore futures rates rose for a 3rd straight session on Wednesday, helped by expectations that construction activity is getting in top consumer China, but gains...

United Kingdom
Jun 15, 2024

Under fire UK air traffic company selects Warren East as chair

Britain's air traffic providers NATS said Warren East would take control of as chairman from Sept. 1, naming the previous boss of RollsRoyce and ARM to prosper...

United States
Jun 15, 2024

US power usage forecast to reach record highs in 2024 and 2025

U.S. power consumption will increase to record highs in 2024 and 2025, the U.S. Energy Info Administration (EIA) stated in its Short-term Energy Outlook ( STEO) on...

North America
Jun 15, 2024

United States natgas output to drop in 2024, need to rise to tape high, EIA states

U.S. gas production will decline in 2024 while demand will rise to a record high, the U.S. Energy Information Administration (EIA) stated in its April Short Term...

North America
Jun 15, 2024

US EIA decreases coal exports forecast for April and May following Baltimore bridge collapse

The U.S. Energy Info Administration (EIA) on Tuesday revised its April coal exports projection downward by 33%, and lowered its view for May by 20%. due to...

Asia / Pacific
Jun 15, 2024

Global steel need to return to development in 2024, says World Steel

Global steel need is expected to increase by 1.7% to 1.793 billion metric lots in 2024 and to increase further in 2025, the World Steel Association said...

Austria
Jun 15, 2024

Austria's OMV records lower very first quarter energy costs

Austrian oil and gas group OMV on Tuesday stated average understood costs for energy declined over the very first three months of the year, tracking a. 3.4%...

North America
Jun 15, 2024

Suncor's Syncrude Canada to pay C$ 390,000 after employee death

Oil sands producer Syncrude Canada, majorityowned by Suncor Energy, will pay C$ 390,000. ($ 287,187.04) after pleading guilty to a health and safety. charge associating with the...

Wind Farms
Jun 15, 2024

Vestas Gets Offshore Wind Turbines Order for RWE's 600MW Project in Germany

Danish wind turbine maker Vestas has secured an order to supply 44 offshore wind turbines, each rated at 14 MW, for RWE’s Nordseecluster A offshore wind project...

Asia / Pacific
Jun 15, 2024

Brazil's Lula scraps fulfilling on future of Petrobras CEO, sources state

President Luiz Inacio Lula da Silva canceled a meeting on Sunday evening with members of his cabinet that could have chosen whether to replace the chief executive...

Asia / Pacific
Jun 15, 2024

Iron ore nears two-week high on stimulus bets, post-holiday restocking

Iron ore futures prices gotten on Monday to their greatest in almost two weeks, buoyed by hopes of potential steps to boost the weak steel market in...

ASEAN Countries
Jun 15, 2024

TotalEnergies: Papua LNG project needs 'more work' to reach last investment choice

French oil and gas giant TotalEnergies on Monday said a prepared new liquefied gas (LNG) task in Papua New Guinea would require ' more work' before a...

Switzerland
Jun 14, 2024

Vitol posts $13 bln revenue in 2023, FT reports

The world's top energy trader Vitol made a net profit of $13 billion in 2023, the Financial Times said on Monday mentioning individuals with understanding of the...

South-West Asia
Jun 14, 2024

UK security company states vessel targeted near Yemen's Hodeidah

British maritime security company Ambrey said on Saturday it had actually gotten info that a. vessel had actually been targeted around 61 nautical miles southwest of. Hodeidah...

Asia / Pacific
Jun 14, 2024

Russia evacuates around 2,000 people from homes in flood-hit Orsk

Russia has actually left around 2,000 individuals from their homes in the Russian city of Orsk, Russian authorities said on Saturday, a day after increasing waters in...

North America
Jun 14, 2024

Pembina says ARC Resources will provide natgas to Cedar LNG for liquefication (April 4).

Pembina Pipeline said on Thursday it has entered into an agreement with Canadian firm ARC Resources, which will provide about 200 million cubic feet (mmcf) daily of...

North America
Jun 14, 2024

United States drillers cut oil and gas rigs for third week in a row - Baker Hughes

U.S. energy firms this week cut the variety of oil and natural gas rigs running for a 3rd week in a row for the very first time...

Asia / Pacific
Jun 14, 2024

Russia alleges Ukrainian drone attack on Zaporizhzhia nuclear plant, no major damage

Ukrainian military drones attacked the Zaporizhzhia nuclear power plant but caused no damage to its critical infrastructure, Russian staterun RIA news company quoted journalism service of the...

Western Europe
Jun 14, 2024

France to allow farmers more pesticide to protect sugar output

French sugar beet farmers will be permitted to use more pesticide this year due to a high risk of attacks from an insect bring a disease that...

United States
Jun 14, 2024

Biden administration awards $20 bln for tidy energy financial investment in low-income communities

Vice President Kamala Harris and Epa Administrator (EPA) Michael Regan on Thursday announced 8 companies that will manage the spending of $20 billion in grants to fund...

France
Jun 14, 2024

France's EDF intends to repair reactor deterioration problems by end of 2025, executive says

France's nuclear power giant EDF will likely be coming to grips with some problems linked to tension rust at some of its reactors up until completion of...

East European Countries
Jun 14, 2024

United States has actually not asked India to cut Russian oil purchases, American authorities states

The United States has not asked India to cut Russian oil imports as the objective of sanctions and the G7imposed $60 per barrel rate cap is to...

China
Jun 14, 2024

Peru's PM says China-built megaport should introduce this year after dispute

A resolution to end a conflict in between Peru and China's Cosco Shipping might come as quickly as this week to make sure a megaport will begin...

Asia / Pacific
Jun 14, 2024

Yellen faces difficult road on China's huge overproduction issue

U.S. Treasury Secretary Janet Yellen arrived in China's southern factory center of Guangzhou on Thursday with a hard message to Chinese authorities: you're producing too much of...

Asia / Pacific
Jun 14, 2024

Russia states backup power line to Zaporizhzhia nuclear plant has decreased

A backup power line supplying the Russianoccupied Zaporizhzhia nuclear reactor in Ukraine has actually gone down, the Russiancontrolled management of the plant stated on Thursday. Ukraine's state-run...

United States
Jun 14, 2024

Yellen won't eliminate more protections for United States clean energy sector amid Chinese excess capacity

U.S. Treasury Secretary Janet Yellen on Wednesday would not dismiss additional actions to protect American clean energy markets from China's excess financial investment and production capability, however...

Asia / Pacific
Jun 14, 2024

United States to state Indian refineries help make Russia oil cost cap work

The G7 rate cap on Russian oil deliveries is cutting the revenue that Moscow has readily available to support its invasion of Ukraine, and the mechanism's efficiency...