US Oil Demand Soars, Tanks Are Emptying in Oklahoma

Crude oil storage tanks can be seen in an aerial view at the Cushing Oil Hub in Cushing, Oklahoma, US Apr. 21, 2020. REUTERS/Drone Base NEW YORK, Oct. 27 (Reuters) – Crude oil tanks in the Cushing, Oklahoma storage and delivery hub for US crude futures are more depleted than in the past three years, … Read more

Xi is not there? COP26 hopes are weak for the Chinese leader’s likely absence

China ‘maxed out’ after 3 major climate promises – consultant More concessions on coal unlikely in the midst of the domestic supply crunch SHANGHAI, October 26 (Reuters) – The leaders of most of the world’s largest greenhouse gas emitters are gathering in Glasgow from Sunday, with the aim of killing plans and means to tilt … Read more

Greenhouse gas levels hit record highs; the world is struggling to stem damages

A truck engine is tested for pollution leaving its exhaust pipe near the Mexican-American border in Otay Mesa, California on September 10, 2013. REUTERS / Mike Blake The UN seeks ‘dramatic increase’ in climate commitments The summit will seek to avert threatening levels of warming Britain’s Johnson says COP26 result is ‘touch and go’ We … Read more

Oil prices extend gains to multi-year highs on tight supply

Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, US, March 24, 2016. REUTERS/Nick Oxford WTI Hits Highest Since October 2014, Brent Hits 3-Year High Speculators Increase Net Long Positions in US Crude Oil -CFTC US oil and gas rig numbers fall for first week in 7 – … Read more

Gazprom could cut off gas to Moldova if the contract is not signed in December

Natalia Gavrilita speaks in Parliament before her approval as the country’s new Prime Minister of Chisinau, Moldova 6 August 2021. REUTERS / Vladislav Culiomza Moldova’s contract with Gazprom expired at the end of September Gazprom extended it to October Moldova owes Gazprom $ 709 million For previous deliveries Moldova asked Gazprom to reduce price sources … Read more

Saudi Arabia’s largest oil exporter has a zero emission target by 2060

Dual goal to reduce carbon emissions Saudi $ 187 billion investment initiative To tackle climate change while ensuring the stability of the oil market Could hit the target by 2060, says energy minister RIYADH, October 23 (Reuters) – Saudi Arabia’s Crown Prince said on Saturday that the world’s largest oil exporter is aiming to reach … Read more

EU leaders lock horns over the reaction to the rise in energy prices

BRUSSELS, October 21 (Reuters) – EU leaders on Thursday struggled to agree on a joint response to rising energy prices, which has revealed well-known divisions in relation to the bloc’s climate goals and divided countries on whether the price crisis justifies a revision of the EU energy market rules. The European Commission last week released … Read more

RPT EXCLUSIVE US Slows Oil & Gas Fusion Resources

NEW YORK/WASHINGTON, Oct. 21 (Reuters) – US antitrust regulators have extended the approval process for at least five oil and gas mergers and acquisitions in the past three months as President Joe Biden’s administration scrutinizes deals to stem soaring energy prices , according to regulatory filings and corporate lawyers. The slowdown comes amid mounting pressure … Read more

British Prime Minister Johnson encourages all leaders to attend ‘critical’ climate summit

LONDON, Oct. 20 (Reuters) – British Prime Minister Boris Johnson is encouraging all leaders to attend next month’s United Nations climate change summit in Scotland, his spokesman said Wednesday when asked about Russian President Vladimir Putin’s decision to participate remotely. “The prime minister has previously said that we would of course strongly encourage leaders to … Read more

Global oil refineries ramp up production as margins recover to pre-COVID levels

Petrol and diesel margins are recovering globally as COVID-19 eases Global inventories of oil products fall to lowest level since 2014 – FGE Maintenance, high natural gas prices to limit supply in the fourth quarter Asian crude rises to 29.5m bpd in Q4, up 1.4% yoy – FGE Formosa processes 400,000 bpd in November, 5-8% … Read more