Saudi Aramco plans IPO
Saudi Aramco may tap capital market very shortly. The Kingdom of Saudi Arabia (KSA) is considering a major restructuring plan for the world's biggest oil producing company in the wake of lower oil pri
Energy
California Sets Renewable Energy Record: Solar Power Surges, Exceeds 100% Grid Demand for 30 Days Straight
California achieves a historic feat, powering the grid with 100% renewable energy for 30 consecutive days, signaling progress towards ambitious clean energy goals.
Biden Administration Permits Over 25GW of Clean Energy on Public Lands, Surpassing 2025 Renewable Energy Goal
This milestone aligns with President Biden's goal to make the US power grid carbon pollution-free by 2035, a key initiative in combating climate change and securing energy resources...
Russia Destroys Ukraine's Largest Power Plant After Launching Widespread Attacks on Energy Grid
A devastating series of Russia's overnight strikes has left the Trypilska thermal power plant in ruins, dealing a severe blow to Ukraine...
Oklahoma Claims Natural Gas Firms Cut Supplies to Raise Prices During Winter Storm Uri: Lawsuit
Oklahoma sued two Texas natural gas companies for purposefully reducing gas supply during Winter Storm Uri in 2021, raising prices and making huge profits...
Biden Admin Unveils Final Tailpipe Pollution Rules, Slowing EV Transition Until 2030
Biden admin adjusts EV targets to 35%, balancing industry concerns. EP...
Argentina's Economy Minister Issues Warning Over Fuel Shortages: Export Restrictions Loom
Sergio Massa, Argentina's Economy Minister and presidential candidate,...
Latest News
Oil slump hits $125-mn property debt in North Dakota
The continuous drop in oil price for the past 18 months may impact $125 million real estate-backed securitized loans in North Dakota. The oil drillers in North Dakota have reduced their activity in th
Mexico's Pemex to slash down jobs in 2016
Mexico oil giant Petroleos Mexicanos (Pemex) is planning to trim its headcount in 2016. The State-run company has suffered a record loss, while its production is declining to 25-year low. Pemex has ta
Congress to abolish crude export restrictions, oil refiners to receive $3 a barrel tax break
The US Congress is pushing a tax break for oil refiners as a compromise to finally allow unrestricted crude-oil exports. According to The Wall Street Journal, the bill could potentially end the long-t
Oil supply glut creating traffic jams at sea
The skyrocketing oil inventories are paving the way for more traffic jams on the seashores as oil tankers are queuing up along the US Gulf Coast. The uncompromised Opec's decision to continue its prod
Corvus Energy Succeeds, Where U.S. Energy Startups Failed
Corvus Energy, Canadian lithium-ion battery company has successfully made it to top three in Deloitte Technology Fast 500 ranking. Recently, Statoil, Norwegian largest offshore oil and gas company als
ISIS selling oil to Syria
ISIS (Islamic State in Iraq and Syria) has begun selling Iraqi crude oil to Syria, against which the Islamic militant group has been fighting to take over the country.
Major oil firms have biggest war chests for takeovers
The continuous oil price fall is one side of the coin. The other side is showing rosy picture as six major oil companies have more than enough funds to snap up competitors. It's estimated that world's
Colombia oil production slips below target
The oil production in Colombia is poised to drop below the target of one million barrels per day in 2016 following the slowing down of drilling activity and ageing of major oil fields.
EIA cuts 2016 production forecast for US
The US Energy Information Administration (EIA) has lowered outlook for the US crude production in 2016. EIA has reduced the forecast for 2016 by one percent in the US oil production.
