Top oil traders see steady demand despite economic headwinds

GENEVA, Oct 4 (Reuters) – Economic headwinds have managed to significantly erode the world’s demand for oil, top oil traders said at the Argus European Crude Conference in Geneva on Tuesday. The forecasts by senior executives of the world’s main commodity trading houses may buttress the case for more resilient oil prices after recession fears … Read more

Venezuela’s oil exports in Sept boosted by sales to China, swaps with Iran

HOUSTON, Oct 4 (Reuters) – More shipments to Asia through intermediaries and growing cargo swaps with Iran drove Venezuela’s oil exports in September to their third highest level this year, internal documents and tanker tracking data showed. The OPEC-member nation’s oil exports were volatile earlier this year due to a lack of diluents required to … Read more

India’s gasoil, gasoline sales surge on festive demand

NEW DELHI, Oct 2 (Reuters) – Gasoline and gasoil sales by Indian state refiners rose sharply in September from a year earlier, signaling a pick-up in industrial activity ahead of the festive season from this month, preliminary sales data showed. Local fuel demand – a proxy for oil demand in Asia’s third largest economy – … Read more

UK Labor Party pledges to set up public energy company if elected

LIVERPOOL, England, Sept 27 (Reuters) – Britain’s opposition Labor Party would set up a publicly-owned energy company within a year of coming to power if it wins the next election, leader Keir Starmer said on Tuesday, saying it would lower bills and help deliver energy independence. Starmer said that a publicly-owned company would help ensure … Read more

Analysis: Amid tense Brazil election, Petrobras emerges as surprise market darling

Register now for FREE unlimited access to Register RIO DE JANEIRO, Sept 22 (Reuters) – Brazil’s state-run oil company Petrobras (PETR4.SA) has spent much of 2022 in turmoil, cycling through four chief executives as President Jair Bolsonaro hammered the company to bring down fuel prices. Faced with that and the likely return of a … Read more

China warns coal companies against dual contracts, keep prices stable

Chimneys of coal-fired power plant are seen next to residential houses at night in Shijiazhuang, Hebei province, China, January 28, 2015. REUTERS/Kim Kyung-Hoon/File Photo Register now for FREE unlimited access to Register BEIJING, Sept 15 (Reuters) – China’s state economic planner on Thursday warned coal companies operating at ports in the Bohai Bay region … Read more

Canadian natural gas companies shut down production due to weak pricing

Register now for FREE unlimited access to Register Sept 12 (Reuters) – Two Canadian natural gas producers on Monday said they had temporarily reduced production due to pipeline bottlenecks that led to a collapse in western Canadian gas prices in the second half of August. Tourmaline Oil (TOU.TO), Canada’s largest gas producer, cut its … Read more

PKN Orlen invests in high-tech wind turbine and infrastructure inspection companies

Register now for FREE unlimited access to Register GDANSK, Sept 8 (Reuters) – Poland’s biggest oil refiner PKN Orlen (PKN.WA) has invested in two companies that make systems that improve wind turbine efficiency and carry out automated infrastructure inspections. The investments are in Eologix Sensor Technology and Invert Robotics Group and were made through … Read more

US power use to reach record high in 2022 as economy grows -EIA

Power lines are shown as California consumers prepare for more possible outages following weekend outages to reduce system strain during a brutal heat wave amid the outbreak of coronavirus disease (COVID-19) in Carlsbad, California, US, August 17, 2020. REUTERS/Mike Blake Register now for FREE unlimited access to Register Sept 7 (Reuters) – US power … Read more

Germany looks to ensure the gas levy helps only companies that need it

A general view shows the nuclear power plant Isar 2 by the river Isar in Eschenbach near Landshut, Germany, August 17, 2022. REUTERS/Christian Mang Register now for FREE unlimited access to Register Calls for revisions to levy amid misuse concerns Econ min: Abolishing levy not an alternative Chancellor favors ‘targeted instruments’ – spokesperson BERLIN, … Read more