Energy News Beat Yahoo Finance NEW YORK – Oil prices jumped over 2% on Tuesday on the possibility OPEC+ will extend or deepen supply cuts, a storm-related drop in Kazakh oil output and a weaker U.S. dollar. Brent crude futures were up $1.88, or 2.4%, at $81.86 a barrel by 11:03 a.m. EST (1603 GMT). U.S. […]
Energy News Beat The country’s competitiveness as an industrial location has been undermined, Michelin said French tire giant Michelin will slash over 1,500 jobs in Germany by 2025, as competition from lower-wage nations and soaring energy prices make production in Western Europe unprofitable. Michelin will fully shut down plants in Karlsruhe and Trier and discontinue […]
Energy News Beat Today LONDON :OPEC+ is looking at deepening oil production cuts despite its policy meeting being postponed to this Thursday amid a quota disagreement between some producers, an OPEC+ source said on Monday. Source: Reuters Several analysts have said they expect OPEC+ to extend or even deepen supply cuts into next year in […]
Energy News Beat Oil Price Sustainability-linked loans, or SLLs, have only been around for a few years. In that short time, they have ballooned into a market worth $1.5 trillion. But now, as scrutiny comes for sustainability claims with no substance, that market faces a reckoning. And so do the banks that lent those money. […]
Energy News Beat World Oil (Bloomberg) – Oil executives are flocking to Venezuela to take advantage of lighter U.S. sanctions, even though there’s a risk that access to the world’s largest oil reserves might snap shut as quickly as it opened. Source: World Oil Companies including Shell Plc., Repsol SA, Hungary’s Mol Nyrt, Sweden’s Maha […]
Energy News Beat Nasdaq The Biden administration on Tuesday will auction off 35,000 acres (14,164 hectares) of land in Wyoming to oil and gas drillers, the first in a series of such sales that will coincide with a United Nations’ conference aimed at combating fossil fuel-driven climate change in Dubai. Source: Reuters The Interior Department’s […]
Energy News Beat Daily Standup Top Stories A New Type of Geothermal Power Plant Just Made the Internet a Little Greener November 28, 2023 Mariel Alumit Earlier this month, one corner of the internet got a little bit greener, thanks to a first-of-its-kind geothermal operation in the northern Nevada desert. Project Red, developed by a geothermal […]
Energy News Beat Chinese authorities have been keen to avoid a repeat of last year’s power shortages. Generally, China is certain that its winter power supply is guaranteed, but shortages could occur in the Yunnan province and Inner Mongolia. China will continue to provide high levels of coal volumes to ensure stability in power supply […]
Energy News Beat Earlier this month, one corner of the internet got a little bit greener, thanks to a first-of-its-kind geothermal operation in the northern Nevada desert. Project Red, developed by a geothermal startup called Fervo, began pushing electrons onto a local grid that includes data centers operated by Google. The search company invested in […]
Energy News Beat (Bloomberg) – Saudi Arabia is asking others in the OPEC coalition to reduce their oil production quotas in a bid to shore up global markets, but some members are resisting, delegates said. The OPEC leader has been making a largely unilateral production cutback of 1 MMbpd since July, and is now seeking […]
