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Lobito railway will transport critical minerals to Atlantic Effort by US to counter Chinese dominance of mining in Africa President Joe Biden meets Lobito Atlantic Railway workers at the Port in Lobito, on Dec. 4.Photographer: Andrew Caballero-Reynolds/AFP/Getty Images President Joe Biden is rounding off his trip to Angola by announcing $600 million in new financing for a …
(Reuters) – Saudi oil giant Aramco, top oilfield services company SLB and Linde, the world’s largest industrial gases company, have signed an agreement to build a carbon capture and storage project in Jubail, Saudi Arabia. Aramco will own 60% of the project while SLB and Linde will hold 20% each, the companies said in a joint statement on …
Aramco, SLB and Linde Plan to Build Carbon Capture Project Read More »
Dec 3 (Reuters) – Crescent Energy (CRGY.N) said on Tuesday it would acquire Carnelian Energy Capital-backed Ridgemar Energy’s assets in the Eagle Ford basin in Texas for a cash-and-stock deal of $905 million. The deal, which is expected to close in the first quarter of 2025, also includes an additional payment of $170 million by …
Crescent Energy to Buy Ridgemar Energy’s Eagle Ford Basin Assets for $905 mln Read More »
By Jarrett Renshaw Dec 3 (Reuters) – Biden administration officials will not finalize highly anticipated guidelines on new clean fuel production tax credits aimed at the airline and biofuel industries before they leave in January, three sources told Reuters, casting doubt on the future of a key piece of the U.S. president’s climate agenda. The …
Biden Administration Will Not Finalize Clean Fuel Tax Credit Guidance Read More »
Summary Slower demand, rising output beyond the group swells supply Global oil prices rangebound between $70 and $80/barrel OPEC+ to decide on planned UAE production increase from January (Reuters) – OPEC+ is likely at its meeting on Thursday to extend its latest round of oil output cuts until the end of the first quarter, four …
OPEC+ Likely to Prolong Oil Cuts for Q1, Sources Say Read More »
The cartel needs to be more honest about the implications of its drive to keep crude prices high. By Javier Blas The best scandals are those that start when someone, somewhere, decides to say something utterly shocking: the truth! A senior official of the OPEC+ oil cartel has said publicly what many thought privately — the …
The Wrong Oil Price Is Truthfully a Problem for OPEC+ Read More »
Sales of new energy vehicles have reached a tipping point Forecasters expect fuel consumption will decline rapidly Bloomberg News From Tesla chargers in the ancient alleys that surround the Forbidden City in Beijing to lonely highway rest stops with charging posts in the western deserts, signs of the electrification of China’s transport fleet — and …
China’s EV Boom Threatens to Push Gasoline Demand Off a Cliff Read More »
EU general court says pipeline couldn’t avoid internal gas law Controversial Baltic Sea gas link was partly destroyed in 2022 Russia’s controversial Nord Stream 2 pipeline lost the latest round of its legal fight against European Union gas market rules, in a largely symbolic court defeat for the now-shuttered project. Gazprom PJSC-controlled Nord Stream 2 should have foreseen that …
Gazprom’s Nord Stream 2 Loses Court Clash Over EU Rules Read More »
(Reuters) – The OPEC+ alliance of oil-producing countries has postponed its next meeting on output policy to Dec. 5 from Dec. 1 to avoid a conflict with another event, OPEC said on Thursday. A summit of Gulf Arab countries is due to be held in Kuwait City on Dec. 1 which several OPEC+ ministers plan …
Summary Tariffs could raise US fuel prices by 10%, analysts say Many refineries configured to run heavy Canadian grades Midwest refineries most reliant on Canadian crude imports Gulf Coast refiners have some capacity to import more OPEC oil (Reuters) – U.S. President-elect Donald Trump’s pledge to impose tariffs on Canada would drive up fuel prices for …
