Evaporating lithium brines in Chile, courtesy of Reuters Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE “Being salty” can be an expression of resentfulness or irritation. Like when your Edmonton Oilers fumble their season despite having two of the best players in the league and sack yet another head coach. Sometimes though, being salty is …

Lithium: ExxonMobil Has Entered the Game – ENERGYminute Read More »

Global efforts to reach net-zero carbon emissions are failing in almost every way, with one exception: the boom in electric vehicles Bloomberg News Global efforts to reach net-zero carbon emissions are failing in almost every way, with one exception: the boom in electric vehicles. That’s the conclusion of a study that was jointly conducted by the Bezos Earth …

EVs Only Bright Spot in World’s Failing Fight Against Climate Change Study Says Read More »

The department said it bought the oil at an average price of $77.57 a barrel from two companies after 18 bids were submitted. The administration of President Joe Biden last year conducted the largest ever sale from the SPR of 180 million barrels, part of a strategy to stabilize soaring oil markets and combat high …

U.S. Buys 1.2 Million Barrels of Oil for Strategic Petroleum Reserve Read More »

(Reuters) – The U.S. needs more natural gas pipeline capacity to maintain reliable gas supply during extreme cold weather, a trade group representing pipeline companies said on Monday in support of regulators who last week urged sought new rules to prevent a repetition of last winter’s power outages. The Federal Energy Regulatory Commission (FERC) and …

U.S. Needs More Pipeline Capacity for Reliable Gas Supply Read More »

(Bloomberg) Oil output from the Permian Basin will expand in November and December, marking the region’s longest run of monthly gains in two years. The world’s most productive shale patch is expected to pump a record 5.98 million barrels a day in December. In total, US crude output from the seven biggest shale regions will …

Oil Output to Grow Through at Least Year-End in Prolific Permian Read More »

Exxon Mobil Corp. plans to become one of the biggest suppliers of lithium for electric vehicles, marking the oil giant’s first major foray outside of fossil fuels in decades. Exxon will extract the metal from underground saltwater reservoirs in the Smackover Formation in southern Arkansas, employing a novel method called Direct Lithium Extraction not currently …

Exxon Aims to Become a Top Lithium Supplier for EVs by 2030 Read More »

(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 »