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What ‘Energy Transition'? Global Fossil Fuel Use Is Accelerating and Set to Get Even Worse
Policymakers are under intensifying pressure to deliver on promises made as part of the Paris Agreement ahead of this year’s COP26.
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OPEC+ Decides to Gradually Curb Output Cuts as Demand Concerns Persist
The ongoing coronavirus crisis continues to cloud the outlook, and analysts expect this to reaffirm Saudi Arabia’s caution about the global economic recovery.
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Saudi Aramco CEO Says Oil Giant Can Still Meet Dividend Expectations as Crown Prince Prioritizes Investments
Saudi Arabia has announced that oil giant Saudi Aramco and petrochemical firm SABIC will fund most of a 5 trillion riyal private sector investment plan.
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US Government Has Returned All the Oil It Stored for Companies When Prices Crashed Last Year
The U.S. returned 18.3 million barrels of oil temporarily stored in the Strategic Petroleum Reserve by companies that rented space there last year.
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Here's How Biden's Infrastructure Package Will Likely Tackle Climate Change
Biden’s infrastructure plan will likely include record spending on mitigating climate change and accelerating a clean energy transition.
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Op-Ed: Suez Canal Shutdown Highlights Another Weak Link in Global Supply Chain
The massive Ever Given container ship, stuck in the Suez Canal, provides a vivid image for a world economy whose global supply chains were already disrupted.
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U.S. Offers to Help Open Suez Canal, Sees Potential Impact on Energy Market
The Ever Given, one of the world’s largest shipping vessels, has blocked all traffic in the Suez Canal since running aground.
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Oil Nations Tipped for Political Instability If the World Moves Away From Fossil Fuels
Algeria, Chad, Iraq and Nigeria will be among the first countries to experience political instability if the “energy transition” occurs, says Verisk Maplecroft.
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Suez Canal Blockage Could Cause Problems for the Globe: Here's What You Need to Know
The shipping delays could raise gas prices and impact everything from the clothes and shoes you ordered to gym equipment, electronics, food and energy supplies.
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American Petroleum Institute Endorses Carbon Pricing as Oil and Gas Industry Faces Pressure on Emissions
The oil and gas industry’s largest trade group Thursday endorsed a price on carbon emissions, a major shift after it long resisted climate change regulation.
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Grounding of Cargo Ship in Suez Canal Could Hurt the LNG Market If Prolonged, Analyst Says
The ship, called Ever Given, ran aground on Tuesday morning after losing the ability to steer amid high winds and a dust storm, the Suez Canal Authority (SCA) said in a statement.
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14 GOP State Attorneys General Sue Biden Administration Over Oil and Gas Leasing Moratorium
President Biden in January ordered the secretary of the Interior Department to halt new oil and natural gas leases on public lands and waters.
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13 States Sue Biden Admin. Over Pause on Oil & Gas Leases on Federal Land
The Republican-leaning states, led by Louisiana Attorney General Jeff Landry, seek a court order ending the moratorium imposed after Democratic President Joe Biden signed executive orders on climate change on Jan. 27.
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Saudi Aramco Profit Slumps 44% After Covid-Battered Year, But Maintains Dividend
Saudi Aramco also said it expects to cut capital expenditure in the year ahead, and lowered its guidance for spending.
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Gasoline Demand Rebounds to Nearly Normal March Levels, According to Latest GasBuddy Data
U.S. gasoline demand is recovering as Americans hit the road.
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Five Charts That Show How Covid-19 Stopped the U.S. Economy in Its Tracks
One year ago, the coronavirus pandemic stopped the U.S. economy in its tracks. Here’s a look at how the virus shut down commerce using five data points.
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The Nord Stream 2 Dilemma: Why a Trans-Atlantic Dispute Is Likely to Go From Very Bad to Even Worse
Critics argue the pipeline is not compatible with European climate goals and will likely strengthen Russia’s economic and political influence over the region.
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Oil Slides, Reversing Early Gains That Pushed Prices to Highest Level in More Than a Year
International benchmark Brent crude futures popped on Monday, moving above $70 a barrel for the first time in more than a year.
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U.S. Oil Production Won't Return to Pre-Pandemic Levels, Says Occidental CEO
Occidental CEO Vicki Hollub says the recovery in crude oil demand is happening faster-than-expected, but she doesn’t see a return to pre-Covid levels in the US.
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Oil Prices Jump as OPEC+ Keeps Production Largely Steady, Saudi Arabia Continues Voluntary Cut
Oil prices jumped on Thursday after OPEC and its oil-producing allies said the group would keep production largely steady through April.