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By Olesya Astakhova, Ahmad Ghaddar, Alex Lawler and Maha El Dahan Russia comfortable with current oil prices Algeria sees demand on upward trend in coming weeks Still some weeks to decide on hike, says source close to OPEC+ MOSCOW/LONDON, Aug 1 (Reuters) – A meeting of top OPEC+ ministers has kept oil output policy unchanged …
OPEC+ Sticks to Oil Policy, Repeats Could Pause Oct Hike Read More »
More From Irina Slav Some weird stuff has been happening in energy and related fields lately. Despite repeated assurances that decarbonisation would be a boon for every economy, we have recently learned that Germany’s GDP slipped into an unexpected contraction in the second quarter and that the UK dropped out of the world’s top 10 …
COMMENTARY: Some Weird Stuff is Happening in Energy – Irina Slav Read More »
(Reuters) – Britain’s decision to increase a windfall tax on oil and gas producers to help pay for its push to grow renewables will lead to a sharp drop in revenue and accelerate the ageing basin’s decline, North Sea drillers said. The new Labour government announced on Monday it will increase the Energy Profits Levy (EPL) …
North Sea Oil and Gas Producers Say UK Windfall Tax is a ‘Wrecking Ball’ Read More »
From the city of Baku’s shoreline along the Caspian Sea, amid restaurants and high end hotels, Azerbaijan’s relationship with fossil fuels is plain to see by the rigs and tankers that dot the horizon. Azerbaijan, one of the birthplaces of the modern fossil fuel industry, will become another oil and gas exporter tasked with hosting the annual round …
Europe Needs COP29 Host Azerbaijan to Keep Exporting Fossil Fuels Read More »
(Reuters) – European companies focused on clean energy are abandoning expansion plans, bracing for lower sales or see funding of U.S projects in doubt because of fears over what a potential election victory for Donald Trump could mean for their sector. Trump has dismissed President Joe Biden’s policies to fight climate change as a “green new scam” …
Trump Effect in Clean Tech Sector Deepens Angst in Europe’s Boardrooms Read More »
By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler Top OPEC+ ministers to meet online on Aug. 1 Brent crude prices have lost about 9% in July OPEC+ plans to raise output from October MOSCOW/LONDON, July 30 (Reuters) – An OPEC+ panel is unlikely this week to make any changes to its current deal to cut …
OPEC+ Likely to Stick to Output Policy at Aug 1 JMMC Meeting Read More »
July 30 (Reuters) – Independent British oil producer Viaro Energy said on Tuesday it would buy UK Southern North Sea assets owned by Shell (SHEL.L) and Exxon Mobil (XOM.N). Reuters reported about the deal talks in May, citing sources and one of them had said the transaction could be valued at $500 million. Viaro said …
Summary BP boosts dividend by 10%, extends share buybacks Refining profits weighed by weak fuel demand, CEO says BP to develop new Gulf of Mexico oilfield (Reuters) – BP increased its dividend and extended its share repurchasing programme on Tuesday as it reported a forecast beating second-quarter profit of nearly $2.8 billion, with weak refining offset …
BP Raises Dividend as $2.8 Billion Quarterly Profit Beats Forecasts Read More »
Russian President Vladimir Putin on Monday congratulated Nicolas Maduro on winning the disputed Venezuelan election, and the Kremlin said it was deepening cooperation in all areas – including sensitive ones – with Caracas. Maduro and his opposition rival Edmundo Gonzalez have both claimed victory in the presidential election as Washington and some other foreign governments …
Putin Hails Maduro’s Win, Kremlin Says it is Deepening Venezuelan Ties Read More »
U.S. President Joe Biden’s administration on Monday accused Venezuela of electoral manipulation and repression and said Caracas’ announcement that President Nicolas Maduro had won a third term in office had been stripped of “any credibility.” Biden administration officials, briefing reporters about the vote on condition of anonymity, did not announce any new punitive measures but …
U.S. Accuses Venezuela of Electoral Manipulation, Repression Read More »
