OPEC Nudges Output Higher – But Markets Are Awaiting the Real Barrels
OPEC oil production ticked up by 270,000 barrels per day (bpd) in June, led by Saudi Arabia and the UAE, according to the latest Reuters survey. The group’s total output…
Saudi Aramco Could Raise $4 Billion From Power Plant Sales
Under pressure to increase payouts to Saudi Arabia, the Kingdom’s state oil giant Aramco is considering selling up to five gas-fired power plants in deals that could raise some $4…
Head of Brazil Climate Summit Defends Petrobras Oil Output Hike
The president-designate of this year’s climate summit in Brazil played down accusations from campaigners that the South American country’s plans to boost oil and gas production is in conflict with…
UK Launches Onshore Wind Strategy to Boost Clean Power Output
The UK government is launching its first onshore wind strategy, aiming to deliver up to 29 gigawatts (GW) of onshore wind power by the end of the decade. In the…
Wildfires Cripple Alberta’s Oil Production
Oil production from Canada’s oil heartland, Alberta, slumped to a two-year low in May as wildfires in the province and maintenance on some oil sands operations dragged oil output to…
Australia Backs Green Hydrogen Project as Industry Struggles
Australia’s government is supporting with grant funding the development of a green hydrogen project in the country, which has recently seen setbacks in the sector with major projects canceled or…
Semiconductor tax credit increased to 35% in updated US budget bill
The US House of Representatives has passed President Trump’s budget bill, boosting the advanced manufacturing investment credit (AMIC) for the semiconductor industry from 25% to 35%. This follows the finalising…
Who Is The World’s Top Oil Consumer?
The world’s top oil consumer in 2024 was the U.S., according to the Energy Institute’s (EI) latest statistical review of world energy, which was released recently. Demand in the country…
AI Power Use Spikes Are Threatening Grid Stability
Power consumption spikes from AI data centers are making grids more volatile, a senior executive from Hitachi Energy has warned. “AI data centres are very, very different from these office…
Exxon-Hess Arbitration Case Close to End
The arbitrators for a dispute between Exxon and Hess Corp. have reached a decision, according to two unnamed sources who spoke to Reuters but did not divulge details about that…
