By Ana Palacio/ Madrid Russian President Vladimir Putin’s war against Ukraine has served Europe a heaping dose of energy realism. While the European Union was touting a “no pain, all gain” transition…
Saudi expects 13mn bpd oil capacity by 2027: Minister
Saudi Arabia expects to ramp up its daily oil production capacity by more than 1mn barrels to exceed 13mn barrels by early 2027, the kingdom’s energy minister announced Monday. “Most likely it…
Record fuel costs driven by refining crunch, says Saudi energy minister
Bloomberg / Riyadh Saudi Arabia’s top oil official said that a refining crunch – rather than any shortage of crude – is driving the surge in fuel costs to unprecedented levels. “The…
Gasoline, diesel, jet fuel refining capacity too low in US to meet demand
Bloomberg / New York From record gasoline prices to higher airfares to fears of diesel rationing ahead, America’s runaway energy market is disquieting both US travellers and the wider economy. But the…
U.S. diesel shortages lift refining margins to a record
LONDON, May 10 (Reuters) – Global stocks of refined petroleum products have fallen to critically low levels as refineries prove unable to keep up with surging demand especially for the diesel-like fuels…
Sea border talks between Israel and Lebanon on verge of imminent collapse
Why did Biden’s energy envoy issue a poison pill that is sure not only to kill the deal but give Hezbollah a new reason to fight? When President Biden appointed his personal…
Global LNG demand to more than double to 800mn tonnes by 2050: GECF
Pratap John Global LNG demand will more than double from 356mn tonnes in 2020 to 800mn tonnes by 2050, “fuelled by solid demand from Asia and a rise in gas use for…
Big Oil Spends on Investors, Not Output, Prolonging Crude Crunch
By Kevin Crowley and Laura Hurst May 7, 2022, 10:30 AM GMT+3 Big Oil is raking in historic amounts of cash, but the windfall isn’t being invested in new production to help…
No place to hide: Dollar’s surge cuts across markets
LONDON, May 6 (Reuters) – “Our currency, your problem,” were the words of a former U.S. Treasury secretary in 1971 to other finance ministers aghast at the dollar’s surge. More than 50…
Public-private decarbonisation
As we mark the 52nd Earth Day, we must recognise that achieving net-zero carbon dioxide emissions by 2050 will require significant investment to finance the necessary economic and social transitions. McKinsey estimates…