(Reuters) – A series of oil supply disruptions across the globe has helped push Brent crude prices above $81 a barrel for the first time since April. Forecasters expect OPEC+ supply cuts and ramped up demand from China to tighten markets despite some macroeconomic headwinds. Below are details on recent disruptions: NIGERIA Shell (SHEL.L) on July 13 said it had …
By Shariq Khan Brent, WTI crude fall about 2% as traders book profits Dollar recovers as investors consolidate losses Libyan oilfields shut by protests; Nigerian loadings halted Despite Friday’s losses, oil benchmarks rise week on week BENGALURU, July 14 (Reuters) – Oil prices fell more than a dollar a barrel on Friday as the dollar …
Oil Prices Fall on Profit-Taking, Still Record Weekly Gain Read More »
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a 10th time in 11 weeks, 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, fell by 5 to 675 in the week to …
U.S. Drillers Cut Oil and Gas Rigs for 10th Time in 11 Weeks – Baker Hughes Read More »
(Bloomberg) — Buffeted by waves as high as 10 meters (32 feet) in China’s Yellow Sea about 30 kilometers off the coast of Shandong province, two circular rafts carrying neat rows of solar panels began generating electricity late last year, a crucial step toward a new breakthrough for clean energy. The experiment by State Power Investment Corp., China’s biggest …
Solar Farms Out at Sea Are Clean Energy’s Next Breakthrough Read More »
Oil headed for a third weekly gain as supply disruptions in Africa and a reduction in shipments from Russia tightened the market. West Texas Intermediate futures traded near $77 a barrel, up around 4% this week, even as they fluctuated Friday. Protesters shut a major Libyan oil field, Sharara, after output from the smaller El Feel …
Oil Heads for Third Weekly Gain as Africa, Russia Crimp Supply Read More »
(Reuters Breakingviews) – Exxon Mobil (XOM.N) is banking on the world needing fossil fuels for years to come, and its cautious energy transition philosophy under boss Darren Woods can be seen clearly in the company’s latest acquisition. The oil titan’s $4.9 billion all-stock deal for Denbury (DEN.N) unveiled on Thursday provides a financially and strategically judicious way to capture and …
Exxon’s Carbon-Capture Deal is Pale Shade of Green Read More »
July 13 (Reuters) – Demand for power in Texas hit a record high for a second day in a row on Thursday as homes and business kept their air conditioners cranked up during a lingering heat wave. The Electric Reliability Council of Texas said power use reached a preliminary 81,406 megawatts (MW), topping the grid’s …
Texas power use breaks record for second day in heat wave Read More »
Denbury owns large CO2 sequestration operation Boasts largest CO2 pipeline network in US All-stock transaction, 1.9% premium to Tuesday’s close HOUSTON, July 13 (Reuters) – Exxon Mobil Corp (XOM.N) on Thursday agreed to buy Denbury Inc (DEN.N) for $4.9 billion to accelerate its energy transition business with an established carbon dioxide (CO2) sequestration operation. The acquisition, which sent …
Exxon to Buy Denbury for $4.9 Billion in Carbon Storage Bet Read More »
LONDON, July 13 (Reuters) – Wind and solar projects are on track to account for more than a third of the world’s electricity by 2030, signalling that the energy sector can achieve the change needed to meet global climate goals, a report by the Rocky Mountain Institute (RMI) said on Thursday. Sultan al-Jaber, president of …
Wind and Solar to Produce Over a Third of Global Power by 2030, Report Says Read More »
By Alex Epstein Today’s conversation about energy and climate is “rigged” with bad thinking methods, misleading terms, false assumptions, and anti-human values—all of which serve to promote deadly policies I’ve been in Washington, DC this week speaking to major groups of legislators about how to effectively champion energy freedom, including the freedom to use fossil …
Countering the world’s rigged conversation about energy and climate – Alex Epstein Read More »
