British energy regulator Ofgem is proposing reforms to wholesale electricity markets to reduce Britain's reliance on gas imports and accelerate the transition to low-carbon energy supply, it said on Friday.Last year, the government set out plans…
Asian spot liquefied natural gas (LNG) prices jumped this week on fears of possible Russian supply disruptions to Japan and on rising demand due to a heatwave and concerns over the return of the Nord Stream pipeline after its planned 10-day maintenance…
Spending in the global oil exploration and production industry is 'poised to accelerate broadly' and drive an increase in production, Olivier Le Peuch, chief executive of top oilfield firm Schlumberger, said at a conference on Wednesday.'The…
Glenn Richey, the Raymond J. Harbert Eminent Scholar and chair of the Department of Supply Chain Management in Auburn University’s Harbert College of Business, comments on record gas prices and how the Biden administration needs to work with…
Oil prices extended gains on Tuesday after the EU agreed to slash oil imports from Russia, fuelling worries of a tighter market already strained for supply amid rising demand ahead of peak U.S. and European summer driving season.Brent crude for July…
Wind turbine makers racked up hefty losses last quarter, swelled by rocketing costs and cut-throat competition despite being more in demand than ever.The industry started seeing a steep decline in prices and increased competition back in 2017 as some governments moved away from generous…
Oil prices running at their hottest level in 14 years are poised to cut post-COVID pandemic fuel demand as consumers react to surging pump and power prices by pulling back on spending and travel, top energy executives warned on Monday.Global…
Brazil's government has appointed former Petrobras executive Rodolfo Landim to chair the state-controlled oil producer's board, the company said in a filing on Saturday night.Earlier in the day, Admiral Eduardo Bacellar Leal Ferreira told Reuters…
Britain will hold yearly auctions to support new renewable projects from 2023, the government said on Wednesday, as it seeks to boost low carbon power production to meet its climate goals.Britain has a target to reach net zero emissions by 2050…
Norway's power production surplus is expected to fall significantly by 2026, with the south of the country moving into deficit owing to rapidly increasing demand, power grid operator Statnett said on Friday.Power demand in Norway is expected to grow to 158 terawatt-hours (TWh) by 2026…
The International Energy Agency (IEA) on Tuesday upped its average Brent crude oil price assumption for 2022 to $79.40 a barrel, but predicted a rally may ease off as prices that hit a three-year high last month push up global production.Brent is expected to average $71…
Qatar Petroleum raised the official selling prices (OSP) of its marine and land crudes in December, a pricing document posted on its website showed on Tuesday.Qatar marine was set at a premium of $2.20/barrel over the Dubai/Oman crudes average and Qatar land was priced at a premium of $2…
Brazil's Petrobras posted third-quarter results on Thursday that smashed profit and margin estimates, less than two hours after President Jair Bolsonaro said the state-run oil company was too profitable and would have to contribute more to society as a whole…
President Vladimir Putin said on Wednesday Russia was not using gas as a weapon and was ready to help ease Europe's energy crunch as the region's bloc called an emergency summit to tackle skyrocketing prices.Energy demand has surged as economies have rebounded from the pandemic…
Oil prices rose by about 2% on Monday, extending gains as an energy crisis grips major economies amid a pick-up in economic activity and restrained supplies from major producers.Brent crude was up $1.45, or 1.8%, at $83.84 a barrel by 1336 GMT…
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