(Reuters) – Oil prices climbed about 3% to a nine-week high on Friday as supply concerns and technical buying outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil. Brent futures rose $1.95, or 2.6%, to settle at $78.47 a barrel, while U.S. West Texas Intermediate crude (WTI) rose …
Oil Prices up 3% to 9-Week High on Supply Concerns Read More »
July 7 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first time in 10 weeks, due to the biggest weekly increase in gas rigs since October 2016, energy services firm Baker Hughes Co said in its closely followed report on Friday. The oil and gas rig count, an …
US drillers add oil and gas rigs for first time in 10 weeks -Baker Hughes Read More »
Global energy consumption has undergone a remarkable transformation since 1900. At first, most energy came from traditional sources like biomass and coal. But, with the advent of industrialization, electrification, and the rise of modern technologies, the demand for energy surged, leading to a significant shift towards fossil fuels, followed by a gradual diversification to include …
INFOGRAPHIC: Production Over Time: Coal, Gas and Oil – ENERGYminute Read More »
By Christoph Steitz and Nina Chestney FRANKFURT/LONDON, July 7 (Reuters) – Siemens Energy’s (ENR1n.DE) disclosure of quality issues in its newer wind turbine models has exposed broader challenges in a sector suffering from rushed development, soaring materials costs and a flawed market design. Siemens Energy shocked the wind sector in late June when it warned of faulty components and possible …
Analysis: Siemens Energy’s Turbine Troubles Rattle Wind sector Read More »
Truth: Preferences for S+W have made our grid embarrassingly vulnerable to heat waves—and cold snaps—that a fossil-fueled grid could easily manage. By Alex Epstein Myth: Solar and wind are helping save our grid from extreme heat caused by fossil-fueled climate change. Truth: Preferences for S+W have made our grid embarrassingly vulnerable to heat waves—and cold …
Myth: Solar and wind are helping save our grid from extreme heat – Alex Epstein Read More »
U.S. oil and gas production continued to trend higher through April – a delayed response to very high prices in the middle of 2022 after Russia’s invasion of Ukraine. But the fall in prices and drilling rates since late 2022 is set to reduce output in the second half of 2023 and tighten markets for …
U.S. oil and gas production set to turn down later in 2023: Kemp Read More »
By Irina Slav More From Irina Slav A while ago, in May, I wrote a post headlined “Get out of wind now”. The reason I wrote it was that signs were multiplying that the wind power industry was having difficulties sustaining itself. Now, two months later, the industry itself has given away the game of cheap …
Commentary: Wind industry just gave the game away – Irina Slav on Energy Read More »
(Reuters) – OPEC will likely maintain an upbeat view on oil demand growth for next year when it publishes its first outlook later this month, predicting a slowdown from this year but still an above average increase, sources close to OPEC said. OPEC’s forecast for 2024 will likely be lower than the growth it expects …
OPEC Upbeat over 2024 Oil Demand Outlook Despite Slowdown Read More »
A group of Canadian and French companies will build a C$80 million ($60 million) plant in Quebec to turn forestry waste into biochar, a black substance which can store carbon for hundreds of years and improve soil quality at the same time. The facility in Port-Cartier — about 850 kilometers (528 miles) northeast of Montreal …
North America’s Biggest Biochar Plant Takes Shape in Canada Read More »
Exxon Mobil Corp on Wednesday signaled second-quarter operating profits fell on lower natural gas prices and weaker oil refining margins, according to a regulatory filing. The snapshot of results indicates earnings from oil and gas production – its largest business – will retreat from the $6.5 billion that business delivered in the first quarter. The lower …
Exxon signals profit drop, cites lower natgas prices, refining margins Read More »
