Russia’s Oil Output Could Peak In 2023

Russia, the world’s third-largest oil producer, has long been an unknown when it comes to the OPEC+ production agreement which caps the petroleum output of participants to support higher prices. It was Moscow’s spat with Saudi Arabia over production quotas in early 2020 which, combined with the emergence of the COVID-19 pandemic, caused crude oil prices to plunge into negative territory for the first…

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Are America’s Drilling Hotspots Preparing For A Pivot To Renewables?

Thanks to the United States shale revolution of the last decade or so, natural gas has become an increasingly cheap and abundant source of power in global energy markets. Many world leaders and industry heads have also touted the plentiful fuel source as a cost-effective stepping stone away from more emissions-intensive fossil fuels such as coal and gas along the…

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Canadian Oil Companies Are Spending On Dividends Rather Than Expansion

About two years ago, OPEC+ made a high-stakes wager that it could curb oil production and drive crude prices higher without unleashing an onslaught of supply from U.S. shale producers. Indeed, Saudi Arabia was adamant that the golden age of U.S. shale was over as plunging oil prices put hundreds of companies out of business. Well, the alliance’s gambit has definitely paid…

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Germany warns plan to label nuclear energy sustainable is ‘risky and expensive’

Germany has objected to draft EU plans to label nuclear power plants as an environmentally friendly energy source that can help countries reach their climate change goals. Chancellor Olaf Scholz’s new three-party coalition government voiced its objections in a formal letter to Brussels, ministers said on Saturday. The EU aims to set standards for green investments, helping climate-friendly projects attract…

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China to lead Asia’s oil and gas transmission pipeline length additions through 2025

China is expected to lead the trunk/transmission oil and gas pipelines network in Asia, accounting for 39% of the region’s total pipeline length by 2025, says GlobalData, a leading data and analytics company. GlobalData’s report, ‘Global Oil and Gas Pipelines Industry Outlook to 2025 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Pipelines’, reveals that…

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Korea: Researchers champion LPG as a green alternative bunker fuel

A recent study conducted by researchers from Korea Maritime and Ocean University shows that using liquefied petroleum gas (LPG) could reduce air pollution, is low-cost, and is applicable regardless of ship size. “Although LPG is a potential eco-friendly alternative, its viability as a maritime fuel has not been assessed so far,” noted Korea Maritime and Ocean University in a joint…

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