Oil and Gas
How hackers and geopolitics could derail the planned energy transition
This image shows an onshore wind turbine in the Netherlands. Mischa Keijser | Image Source | Getty Images Discussions about the energy transition, what it means and whether it’s actually underway at all, have become major talking points in recent years. How the transition — which can be seen as a shift away from […]
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Biden planning to tap oil reserve to control gas prices
U.S. President Joe Biden gestures as he delivers remarks on Covid-19 in the United States in the South Court Auditorium on March 30, 2022 in Washington, DC. Anna Moneymaker | Getty Images President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation’s strategic […]
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Wall Street banks love these energy stocks — and two are on Goldman’s conviction buy list
Goldman Sachs and Bank of America have identified their top energy stocks to buy, two of which are on Goldman’s coveted conviction list. Source
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Asia will become the ‘default market’ for Russian oil, Dan Yergin says
Asia will become the default market for Russian oil as the country tries to find buyers for its energy exports, IHS Markit Vice Chairman Dan Yergin told CNBC. Major oil importers in Asia like China and India have been pressured by oil prices which have soared since Russia invaded Ukraine in late February. Besides the […]
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UAE energy minister warns of poverty and economic stagnation if energy affordability isn’t tackled
United Arab Emirates’ Energy Minister Suhail Mohamed al-Mazrouei at a press conference in January, 2018. MOHAMMED MAHJOUB/AFP/Getty Images Failure to address energy affordability risks casting significant portions of the world into poverty and stagnating the global economy, according to the United Arab Emirates Energy Minister Suhail Al Mazrouei. Soaring energy prices have caused inflation to spike […]
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Putin should think about the consequences of asking for energy payments in rubles, Germany says
Germany has some advice for Russian President Vladimir Putin: think about the consequences of asking for energy payments in rubles. Russia’s Putin said last week that “unfriendly” nations would be asked to pay for their natural gas in rubles — causing a spike in European gas prices. By asking for payments in the Russian currency […]
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Saudi energy minister says oil alliance OPEC+ will leave politics out of output decisions
Saudi Energy Minister, Prince Abdulaziz bin Salman bin Abdulaziz Al Saud speaks during the UN Climate Change Conference (COP26), in Glasgow, Scotland, Britain, November 10, 2021. Yves Herman | Reuters Saudi Arabia’s energy minister said Tuesday that OPEC+ will keep politics out of its decision-making in favor of the “common good” of stabilizing energy prices. […]
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Oil slides more than 8% as Shanghai lockdown prompts demand fears
Andrey Rudakov | Bloomberg | Getty Images Oil declined more than 8% at the lows of the day on Monday as concerns over new lockdowns in China and the potential impact on demand sent prices tumbling. West Texas Intermediate crude futures, the U.S. oil benchmark, slipped 8.25% to trade at $104.50 per barrel. International benchmark […]
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Russia will ‘always’ be a part of OPEC+, UAE energy minister says
The United Arab Emirates’ energy and infrastructure minister has insisted that Russia will always be a part of OPEC+ even as governments across the globe shun the oil exporter over its war in Ukraine. Speaking to CNBC on Monday, Suhail Al Mazrouei, a former president of the oil alliance, said no other country could match […]
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India is snapping up cheap Russian oil, and China could be next
Russian Foreign Minister, Sergey Lavrov, Chinese Foreign Minister Wang Yi and Minister of External Affairs of India Subrahmanyam Jaishankar pose for a photo during Meeting of the Council of Foreign Ministers of Shanghai Cooperation Organisation in Moscow, Russia on September 10, 2020. Russian Foreign Press Service Handout | Anadolu Agency | Getty Images There’s been […]
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