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Why Oil Won’t Trade Above $100 This Year

After an initial dip, the oil price rally has been a steady grind upwards in the current year, with the last 12 trading days seeing 10 days of higher intraday highs and 11 days of higher intraday lows. Brent is currently trading at $87.50 per barrel (as of Jan 26 at 12:24p.m. EST)--more than $10 from this year’s low. And now commodity analysts at Standard...

Soaring Food Prices Prompt Eurasian Nations To Ban Food Exports

The harshest winter since 2008 is contributing to shortages of staple vegetables across Central Asia and sending prices north in a region still suffering from COVID-induced food inflation.  In Uzbekistan, record frosts have highlighted the shortcomings of the national energy system as even residents of the capital spent days on end without power. But...

Citi: European Oil Majors Could Become Acquisition Targets

Merger and acquisition activity in the United States oil and gas industry last year slumped to the lowest in 17 years as buyers became pickier. But besides being picky, they were also willing to spend, Enverus reported earlier this week. Now, Citi analysts are suggesting they may get even more generous with acquisitions. BP and Shell, the European supermajors,...

Shell Wants To Bail On Energy Retail Businesses Due To “Tough Market Conditions”

Shell is looking to bail on its energy retail business across multiple countries amid “tough market conditions,” the company said on Thursday. The tough market conditions likely refer to higher wholesale prices across Europe that have plagued many retailers, as well as price-capping measures instituted by governments to keep consumers from having to...

Oilfield Firms See Highest Profit In Nearly A Decade

The world’s largest oilfield services providers saw last year their highest combined net profits since the shale boom of 2014, driven by a rebound in drilling activity amid soaring oil and gas prices. SLB – formerly Schlumberger – Halliburton, and Baker Hughes reported this past week very strong earnings for 2022 and said they expected the upcycle that...

Freeport LNG Gets Regulatory Approval

The Federal Energy Regulatory Commission has given Freeport LNG Development, L.P. the approval it requested to restart some operations, a regulatory filing from Thursday shows. “I grant your request for Freeport LNG Development, L.P. (Freeport LNG) to commence commissioning, including cooldown, of Loop 1 LNG transfer piping and commissioning and reinstate...

Can China Mend Its Ties With The West?

China is aiming to improve relations with the West, particularly its ties with Europe, which have been hurt by Beijing's support for Russia throughout Moscow's invasion of Ukraine. But as I reported here, the Chinese charm offensive is getting a skeptical reception in Brussels. Finding Perspective: In a move that has been gathering steam since late...

Norway Sees Oil And Gas Tax Revenue Triple To Record $89 Billion

Norway expects to receive a record $89.5 billion (884 billion Norwegian crowns) in oil and gas tax revenue for 2022, triple the previous record in 2021, thanks to soaring gas prices last year, the Norwegian Tax Administration said in an estimate on Thursday. The administration has revised up its estimates for the petroleum tax revenue by 20% from an...

Scientists Invent Hydrogen Producing Solar Cell

  Ecole Polytechnique Fédérale de Lausanne chemical engineers have invented a solar-powered artificial leaf, built on a novel electrode which is transparent and porous. The artificial leaf is capable of harvesting water from the atmosphere for conversion into hydrogen fuel. The semiconductor-based technology is scalable and easy to prepare. The paper...

Soaring Food Prices Prompt Eurasian Nations To Ban Food Exports

The harshest winter since 2008 is contributing to shortages of staple vegetables across Central Asia and sending prices north in a region still suffering from COVID-induced food inflation.  In Uzbekistan, record frosts have highlighted the shortcomings of the national energy system as even residents of the capital spent days on end without power. But...

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