• News
    Petrobras Says Discussions Among Saudi, Russia are of No Use For Oil Prices

    Petrobras Says Discussions Among Saudi, Russia are of No Use For Oil Prices

    Recent discussions involving leaders from major oil-producing countries and the U.S. will prove irrelevant for oil prices that are low due to depressed demand, the CEO of Brazil’s Petrobras stated Thursday evening. Throughout an online event hosted by Brazilian brokerage XP, Petrobras CEO Roberto Castello Branco stated the conflict between non-OPEC member Russia and the group’s de facto chief, Saudi Arabia,…

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  • Natural Gas
    New Zealand’s Natural Gas Industry Keeping Country’s Light On Amid COVID-19 Closures

    New Zealand’s Natural Gas Industry Keeping Country’s Light On Amid COVID-19 Closures

    New Zealand’s natural gas sector is continuing production via the nation-wide closures offering critical energy including electricity to homes, hospitals and essential services. “It’s very reassuring that natural gas remains to be flowing at a time when New Zealand wants it more than ever,” says Petroleum Exploration and Production Association of New Zealand (PEPANZ) CEO John Carnegie. It’s also essential for…

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  • News
    Saudi Aramco Contemplating Sale of $10 Billion Pipeline to Raise Cash

    Saudi Aramco Contemplating Sale of $10 Billion Pipeline to Raise Cash

    Saudi Aramco, the world’s most significant oil producer, is weighing the sale of a stake in its pipeline unit to raise cash amid a plunge in crude prices, based on individuals familiar with the matter. Aramco may need to boost cash this year as it confronts a historic turmoil in oil prices and a burgeoning list of spending duties. The…

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  • News
    Global Energy Trader Vitol Posts 8% Oil Volume Surge

    Global Energy Trader Vitol Posts 8% Oil Volume Surge

    Global energy trader Vitol stated Friday its 2019 revenues have been $225 billion and its traded oil and refined products volume soared by 8%. CEO Russell Hardy stated last year’s efficiency was “solid”, as the corporate’s traded oil volume hit 8 million barrels per day (bpd), up from 7.4 million bpd two years ago. At the beginning of January, the…

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  • Crude Oil
    Investors Suggest Big Oil Firms to Break Dividend Taboo As Debt Elevates

    Investors Suggest Big Oil Firms to Break Dividend Taboo As Debt Elevates

    The world’s most significant oil and gas companies should break a business taboo and consider reducing dividends, somewhat than taking on any extra debt to maintain payouts as they weather the fallout from the coronavirus pandemic, traders say. The top five so-called oil giants have avoided decreasing dividends for years to keep traders sweet and added a $25 billion collectively…

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  • News
    Polish Officials Suggest EU to Scrap Emissions Trading Scheme

    Polish Officials Suggest EU to Scrap Emissions Trading Scheme

    The European Union tought to diminish its Emissions Trading System or exclude Poland from the scheme, which helps fight global warming, to free up funds for Warsaw to battle the consequences of COVID-19, a senior Polish official stated. Under the ETS, the EU charges for the right to emit CO2. European energy generators, industrial emitters and airways flying flights within…

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  • News
    Rapid Spread of Coronavirus Disrupts Solar Energy Sector

    Rapid Spread of Coronavirus Disrupts Solar Energy Sector

    The coronavirus pandemic is threatening project schedules in the booming U.S. solar sector following a year in which the sector topped natural gasoline as the nation’s prime new power supply, based on a report featured on Tuesday. The fallout from the outbreak has affected both supply networks and demand in the fast-rising sector, and the president of the top U.S.…

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  • News
    U.S. to Buy Crude for Strategic Petroleum Reserve After Two Weeks

    U.S. to Buy Crude for Strategic Petroleum Reserve After Two Weeks

    The US might start purchasing the U.S. produced crude oil for the Strategic Petroleum Reserve (SPR) in two weeks from now, and fill it in some months, an Energy Division source stated Monday. President Donald Trump stated late Friday that he has ordered the Energy Division to fill the reserve “to the top.” The step was aimed toward helping domestic energy…

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  • Crude Oil
    Oil to Fall Lowest Since 2008 Financial Crisis Despite Rising Over 3%

    Oil to Fall Lowest Since 2008 Financial Crisis Despite Rising Over 3%

    Oil prices had been set for their worst weekly drop since the 2008 financial crisis, regardless of rising over 3% Friday, as investors worried over evaporating demand from the coronavirus pandemic and a production increase by top producers. Brent crude was up $1.12, i.e., 3.4%, at $34.33 per barrel after tanking over  7% Thursday. For the week, Brent is set…

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  • News
    Duke Energy Strikes Power Contract in North Carolina

    Duke Energy Strikes Power Contract in North Carolina

    After capturing Cisco and Google as of early adopters of the firm’s Green Source Advantage program (GSA), Duke Energy has laid out its first municipal agreement under the scheme – a 35 MW power purchase agreement (PPA) with the city of Charlotte, North Carolina. The PPA, which was accredited by the city council in February, makes Charlotte the most populous city…

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