(Bloomberg) –Orsted A/S has withdrawn from a partnership developing offshore wind projects in Norway as the company grapples with big losses resulting from rising costs. Orsted quit a consortium with Fred. Olsen Renewables AS and Hafslund Eco citing “a prioritization of investments” in its portfolio, according to the company. The pullback is a further sign …
Orsted Quits Norway Offshore Wind as Cost Crisis Deepens Read More »
Rising demand for liquefied natural gas (LNG) in the top importing regions of Asia and Europe hasn’t been enough to spark an increase in spot prices, which continue to languish. The price of spot LNG for delivery to north Asia slipped to $16.50 per million British thermal units (mmBtu) in the week to Nov. 10, …
Uptick in LNG demand in Asia, Europe Insufficient to Drive Prices: Russell Read More »
Summary Markets wary of more hawkish signals from Fed Saudi, Russia to continue voluntary oil cuts to year end Weak US, China data flags meagre oil demand LONDON, Nov 13 – Oil prices wavered on Monday, as renewed concerns over waning demand in the United States and China, coupled with mixed signals from the U.S. …
Oil Wavers on Weak Demand Outlook in U.S. and China, U.S. Fed Hedging Read More »
(Reuters) – OPEC on Monday said oil market fundamentals remained strong and blamed speculators for a drop in prices as it slightly raised its 2023 forecast for global oil demand growth and stuck to its relatively high 2024 prediction. Oil has weakened to around $82 a barrel for Brent crude from a 2023 high in …
OPEC Says Oil Market Remains Strong Despite Negative Sentiment Read More »
Credit: https://img.freepik.com/free-photo/environmental-pollution-factory-exterior_23-2149057713.jpg As efforts to counter climate change ramp up and countries adopt more measures to achieve carbon neutrality by 2050, one industry has a tremendous amount of responsibility on its shoulders: the oil and gas sector. This sector contributes 9% of all man-made greenhouse gas emissions, while the fuel produced as a result contributes …
HOUSTON, (Reuters) – BP, Edison and Shell pressed a U.S.-EU energy group to intervene in a dispute with liquefied natural gas exporter Venture Global LNG over the U.S. firm’s failure to deliver contract supplies of the fuel. The companies appealed to the U.S.-EU Task Force on Energy Security last month, and a Shell executive urged …
BP, Edison, Shell Ask US, EU to Intervene in Venture Global LNG Dispute Read More »
Mountain Valley Pipeline LLC sued Daniel Guidry and Ashley Stecher Wagner on Wednesday in federal court in Roanoke, Virginia, claiming they coordinated with others to illegally attach themselves to the land and construction equipment being used to build a segment of the pipeline in the Jefferson National Forest last month. The lawsuit said law enforcement …
Mountain Valley Pipeline Sues Protesters for Obstructing Construction Read More »
NEW YORK, Nov 10 (Reuters) – Oil prices gained about 2% on Friday as Iraq voiced support for OPEC+’s oil cuts ahead of a meeting in two weeks and as some speculators covered massive short positions ahead of weekend uncertainty. Still, prices settled with weekly losses of 4%, their third straight weekly decline. “This was …
Oil Prices Settle up on Friday as Iraq Backs More Output Cuts from OPEC+ Read More »
(Bloomberg) As oil prices languish near a three-month low, forecasters are already predicting that Saudi Arabia won’t sit idle. The OPEC+ leader is likely to extend its 1 million barrel-a-day supply cut — introduced over the summer — into next year, according to analysts at UBS Group AG, FGE, Commerzbank AG and Eurasia Group. RBC Capital …
Oil Forecasters See Saudi Arabia Extending Supply Cut Into 2024 Read More »
By Eduardo Garcia Image: REUTERS/Adrees Latif The 2022 Inflation Reduction Act has accelerated the development of energy storage as renewable energy developers and utilities seek to widen their revenue streams. The legislation includes investment tax credits (ITCs) for standalone energy storage for the first time and offers a choice of ITCs or production tax credits …
US Battery Station Boom Leaves Hybrid Wind Projects Far Behind Read More »
