Chancellor Olaf Scholz is struggling to pull off his plan to harness the transition to green energy and unleash a decade of economic dynamism in Germany. As his government approaches the half-way mark in its four-year term, the vision of a radical push to eliminate carbon emissions — that would turbo-charging growth too — looks …
Scholz’s Dream of Climate Revolution to Revive Germany Is Dying Read More »
Sept 16 (Reuters) – The state of California has sued major oil companies including Exxon Mobil Corp (XOM.N), Shell PLC (SHEL.L), and Chevron Corp (CVX.N), accusing them of playing down the risks posed by fossil fuels, the New York Times reported on Friday. The lawsuit, which also targets BP (BP.L) and ConocoPhillips (COP.N), alleges the energy giants’ actions have caused …
California Sues Oil Giants for Downplaying Risks Posed by Fossil Fuels Read More »
Summary Companies Oil prices hit 10-month high, gain 4% on weekly basis Market expected to tighten on Saudi, Russian supply cuts Chinese data adds to expectations of rising oil demand US drillers added two rigs this week, Baker Hughes says BENGALURU, Sept 15 (Reuters) – Oil prices hit a 10-month high on Friday and posted …
Oil Gains for Third Straight Week on Tight Supply, China Optimism Read More »
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U.S. crude oil prices have surged and the futures strip has moved into a sharp backwardation as inventories have drained away from the NYMEX delivery point at Cushing in Oklahoma. Futures prices for crude delivered in October climbed to $90 per barrel on Sept. 14, up from $68 on June 27, as traders anticipated increasing …
COMMENTARY: Oil Prices Surge as Stocks Drain Away From Cushing: Kemp Read More »
Sept 15 – U.S. energy firms this week added the most oil and natural gas rigs in a week since November, rising for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose …
U.S. Drillers Add Most Oil and Gas Rigs Since November – Baker Hughes Read More »
Download your complimentary pass to the 24th World Petroleum Congress With just a few days to go until the 24th World Petroleum Congress, Calgary opens its doors to 15,000+ international attendees over 4 event days, there’s still time to register as a visitor. Taking place from 17-21 September in Calgary at the BMO Centre, don’t …
Sept 15 (Reuters) – President Joe Biden’s goal to deploy 30,000 megawatts of offshore wind along U.S. coastlines this decade to fight climate change may be unattainable due to soaring costs and supply chain delays, according to forecasters and industry insiders. The 2030 target, unveiled shortly after Biden took office, is central to Biden’s broader …
Biden’s Offshore Wind Target Slipping Out of Reach as Projects Struggle Read More »
(Bloomberg) A resilient US economy will prompt the Federal Reserve to pencil in one more interest-rate hike this year and stay at the peak level next year for longer than previously expected, according to economists surveyed by Bloomberg News.The Federal Open Market Committee will keep rates steady in the 5.25% to 5.5% range at its …
Federal Reserve Seen Signaling One More Hike and Pushing Out 2024 Rate Cuts Read More »
OPEC’s top official warned against abandoning fossil fuels, hitting back once again at remarks from the world’s energy watchdog. Cutting out hydrocarbons “would lead to energy chaos on a potentially unprecedented scale, with dire consequences for economies and billions of people across the world,” Secretary-General Haitham Al-Ghais said Thursday in a statement. On Wednesday, the …
OPEC Chief Warns of ‘Energy Chaos’ If Fossil Fuels Are Scrapped Read More »
