Auto Added by WPeMatico
U.S. crude production in November rose 0.6% to a new monthly record of 13.31 million barrels per day, as output in Texas and New Mexico notched records as well, the Energy Information Administration said on Wednesday. Crude production in Texas rose by 1.4% to 5.66 million bpd, a monthly record, while crude output in New …
U.S. Crude Production in November Rose to Monthly Record – EIA Read More »
Funding will be offered as soon as next month to Holtec to restart its Palisades nuclear plant Bloomberg News Article content The Biden administration is poised to loan US$1.5 billion to restart a closed Michigan nuclear power plant, paving the way for a shuttered reactor to reopen in the U.S. for the first time. The funding, …
Biden to Offer $1.5-billion Loan to Restart Michigan Nuclear Power Plant Read More »
The United States is seeking to buy about 3 million barrels of U.S.-produced sour crude for the Strategic Petroleum Reserve for delivery in June, Department of Energy documents showed on Tuesday. The administration of President Joe Biden is slowly replenishing the emergency stash after selling 180 million barrels in 2022 following Russia’s invasion of Ukraine. …
U.S. Seeks to Buy About 3 Million Barrels of Oil for SPR for June Delivery Read More »
Kenyan president speaks at Italy-Africa summit in Rome Renewable energy is an economically rational choice, he says Kenyan President William Ruto said African countries need to be able to tap all their energy resources even if that means developing non-renewable sources of fuels. “I firmly believe that no African country can be asked to halt the exploration …
No African Nation Should Have to Halt Fossil Fuels, Kenyan President Says Read More »
Biden administration may let six-month suspension end in April US has eased pressure on Maduro amid democratic reforms Maria Corina Machado holds a press conference in Caracas on Monday.Photographer: Gaby Oraa/Bloomberg The Biden administration will restore sanctions on Venezuela’s energy sector if the country upholds its ban on an opposition candidate from running for president, …
U.S. Set to Renew Venezuela Oil Sanctions After Presidential Candidate Barred Read More »
Bloomberg Company asked to maintain capacity at 12 million barrels daily Surprise move will raise questions about view on oil demand Saudi Aramco abandoned a plan to boost its oil output capacity, a huge reversal that will raise questions about the kingdom’s view on future demand. The surprise move comes after the world’s biggest oil exporter …
Saudi Aramco Drops Expansion Plan, Raising Demand Questions Read More »
Saudi Arabia’s major reversal on plans to boost how much oil it can produce may spur doubts over the long-term health of demand. State giant Saudi Aramco provided no rationale when it said Tuesday it would ditch efforts to reach capacity of 13 million barrels a day by 2027 and instead hold at the current 12 million. …
Saudi Oil U-Turn Stokes Doubts Over Future Demand Read More »
Reuters – Oil prices edged higher on Tuesday following a more than 1% drop in the previous session as escalating tensions in major producing region the Middle East fuelled supply concerns, though a bleak Chinese economic outlook limited gains. March Brent crude futures , which are due to expire on Wednesday, rose 8 cents, or …
Oil Up on Middle East Tensions, China Economy Worries Limit Gains Read More »
Japan, the world’s second-biggest buyer of liquefied natural gas (LNG), is concerned that a temporary suspension of U.S. export permits may delay the launch of new LNG facilities in the United States, industry minister Ken Saito said on Tuesday. U.S. President Joe Biden last week paused approvals for pending and future applications to export LNG …
Japan Worried U.S Pause of LNG Export Approvals May Delay New Projects Read More »
Attacks on shipping vessels by Iranian-backed Houthi rebels in the crucial Red Sea shipping lane have disrupted shipping in the Suez Canal, the fastest sea route between Asia and Europe. Data from S&P Global showed the Suez Canal route accounts for 14.8% of all Europe and Middle East and North Africa (MENA) imports. In response, …
Impact on Commodities Due to Chaos in the Red Sea Read More »
