Oil majors boost exploration as 300-billion-barrel supply gap looms
(WO) – Major oil companies are increasing investment in high-impact exploration as the industry faces a potential 300-billion-barrel supply gap by 2050, according to new analysis from Wood Mackenzie. The…
Lufthansa Cancels Unprofitable European Summer Routes to Save Jet Fuel
Lufthansa Group will remove a total of 20,000 short-haul flights from its European summer schedule, Europe’s biggest airline said as the airline industry faces jet fuel shortages and soaring prices.…
UK, France Lead 30-Nation Military Push to Reopen Strait of Hormuz
The UK will host on Wednesday and Thursday a two-day multinational conference convening military planners from more than 30 countries as Britain and France renew efforts to re-open the Strait…
Oil Flows via Druzhba Set To Restart Today
The flow of crude oil via the Druzhba pipeline from Russia to Germany will restart today, Reuters is reporting, citing an unnamed source. “Oil pumping is scheduled to begin tomorrow…
Iran Ceasefire Extension Reduces Immediate Escalation Risk
In a statement sent to Rigzone on Wednesday, Naeem Aslam, CIO at Zaye Capital Markets (ZCM), outlined that ZCM sees global markets “entering the session with cautious optimism but clear…
Air Liquide to build $350m ASU for Louisiana steel plant
By 4 min ago 2 min read Industrial gas major Air Liquide has announced a $350m investment to build a new air separation unit (ASU) to supply Hyundai-POSCO’s (HPLS) low-carbon…
Terra Innovatum secures helium circulator supply deal
By 35 min ago 1 min read Global engineering company Boldrocchi will supply a helium leak-tight circulator to nuclear energy technology company Terra Innovatum to support its SOLO nuclear microreactor…
MOL secures AiP for ‘world’s first’ wind-assisted CO2 carrier
By 37 min ago 2 min read Japan-based energy transport company Mitsui OSK Lines (MOL) has received approval in principle (AiP) for what it says is the world’s first wind-assisted…
Munich utility to participate in Neumünster green hydrogen hub
By 42 min ago 2 min read Munich utility firm SWM could join the 5,000 tonne-per-year decentralised green hydrogen hub in Neumünster, Germany, being built by Swiss project developer Infener.…
Australian State Bets on Biodiesel To Reduce Reliance on Oil
Australia’s state of Queensland will pour A$25 million in biodiesel production project in a bid to reduce its reliance on imported fuel amid a severe supply crunch resulting from the…
