Energy

The Biden administration has announced its most extensive sanctions package yet against Russia’s oil and gas sectors, aiming to undermine Moscow’s revenue sources amid the ongoing war in Ukraine. These measures are designed to bolster Ukraine’s position and provide leverage for Donald Trump’s incoming administration in negotiating a peace deal. Key Highlights:Sanctions Overview: The sanctions […]

The Biden administration is poised to implement additional sanctions targeting Russia’s oil revenues in response to its ongoing war against Ukraine, specifically focusing on tankers transporting Russian crude oil. This move comes as President Biden aims to bolster support for Ukraine ahead of President-elect Donald Trump’s inauguration on January 20. Key Highlights:Sanction Details: The new […]

President Joe Biden has announced a ban on new offshore oil and gas development along most U.S. coastlines, a decision that may pose challenges for President-elect Donald Trump, who has promised to increase domestic energy production. Key Highlights:Scope of the Ban: The ban, which will not affect existing drilling operations, covers areas in the Atlantic […]

The Biden administration has announced that certain portions of nuclear power plants will now be eligible for tax credits aimed at producing clean hydrogen, a move designed to prevent the retirement of aging reactors. This decision addresses a significant aspect of the Inflation Reduction Act (IRA), which aims to combat climate change by subsidizing technologies […]

U.S. President-elect Donald Trump has voiced strong criticism of the British government’s energy policy, demanding that the UK “open up” the aging North Sea oil and gas basin and eliminate wind farms. His statements were made via a post on his social media platform, Truth Social. Key Highlights:North Sea Context: The North Sea is one […]

The recent cut-off of Russian gas supplies to Moldova’s breakaway Transdniestria region has led to the closure of all industrial companies, except for food producers, according to officials. This situation has placed significant strain on the predominantly Russian-speaking territory, which has a population of approximately 450,000 and has been reliant on Russian gas since its […]

A recent survey conducted by the Federal Reserve Bank of Dallas indicates that U.S. energy executives are optimistic about faster permitting times for drilling on federal lands under President-elect Donald Trump. The survey, which included responses from 134 energy firms in Texas, Louisiana, and New Mexico, reflects a brighter outlook for the industry as uncertainty […]

Oil prices experienced a decline of approximately 3% in 2024, marking the second consecutive year of falling prices as the post-pandemic demand recovery faltered, particularly due to struggles in China’s economy and increased output from non-OPEC producers. Key Highlights:Market Performance: On the last trading day of the year, Brent crude futures settled at $74.64 per […]

According to data released by the U.S. Energy Information Administration (EIA), U.S. oil production surged to a record 13.46 million barrels per day (bpd) in October, marking an increase of 260,000 bpd month-over-month as demand reached its highest levels since the pandemic. Key Highlights:Production Growth: U.S. oil output has increased significantly this year due to […]

Bharat Petroleum Corp (BPCL), a state-run Indian refiner, is increasingly purchasing crude oil from the Middle East to compensate for the reduced availability of cheaper Russian oil. This shift comes as Indian refiners face significant shortfalls in Russian crude supplies. Key Details:Current Supply Challenges: Indian state refiners typically acquire Russian oil on the spot market […]