Shares in Ørsted (CPH: ORSTED) surged by 12% at opening in Copenhagen on Tuesday after a U.S. court blocked last month’s Trump Administration stop-work order on a nearly completed offshore wind project. Ørsted and its joint venture partner Skyborn Renewables were progressing the construction of the Revolution Wind off the Rhode Island coast when the Trump Administration issued a stop-work order in August, throwing the project – which is 80% completed – and Ørsted’s operational and financial targets in…

Shares in Ørsted (CPH: ORSTED) surged by 12% at opening in Copenhagen on Tuesday after a U.S. court blocked last month’s Trump Administration stop-work order on a nearly completed offshore wind project. Ørsted and its joint venture partner Skyborn Renewables were progressing the construction of the Revolution Wind off the Rhode Island coast when the Trump Administration issued a stop-work order in August, throwing the project – which is 80% completed – and Ørsted’s operational and financial targets in…

Shares in Ørsted (CPH: ORSTED) surged by 12% at opening in Copenhagen on Tuesday after a U.S. court blocked last month’s Trump Administration stop-work order on a nearly completed offshore wind project. Ørsted and its joint venture partner Skyborn Renewables were progressing the construction of the Revolution Wind off the Rhode Island coast when the Trump Administration issued a stop-work order in August, throwing the project – which is 80% completed – and Ørsted’s operational and financial targets in…

Since the Russian invasion of Ukraine in early 2022 and the subsequent sanctions on Russian energy, the European Union has encouraged other countries to follow suit by enforcing sanctions, even as Russia offers discounted oil and gas to various countries around the globe. While many countries have adhered to the sanctions, some Asian states, such as China and India, have increased Russian energy imports to stockpile cheap crude and other energy products to meet the growing demand. Meanwhile, as the EU has reduced its reliance on Russia for certain…

Russia is considering extending its current ban on exports of gasoline and introducing a ban on diesel exports as fuel shortages have emerged amid intensified Ukrainian drone attacks on Russian refineries and other energy infrastructure. The government discusses extending the gasoline export ban for producers through the end of October, from September 30, sources with knowledge of the talks told Russian news agency Interfax on Tuesday.  At the end of August, Russia extended the gasoline ban until September 30, 2025, for producers, and until…

Russia is considering extending its current ban on exports of gasoline and introducing a ban on diesel exports as fuel shortages have emerged amid intensified Ukrainian drone attacks on Russian refineries and other energy infrastructure. The government discusses extending the gasoline export ban for producers through the end of October, from September 30, sources with knowledge of the talks told Russian news agency Interfax on Tuesday.  At the end of August, Russia extended the gasoline ban until September 30, 2025, for producers, and until…

A looming oversupply of crude oil is going to cause prices to take a dive as the world moves on to alternatives to hydrocarbons and economic growth remains weak. This has been the message from virtually every price forecaster for months. Yet benchmark oil prices have remained remarkably stable. Some call it a mystery. Yet there is nothing mysterious about it. Forecasts do not reflect real-life supply and demand. “There is a bit of a mystery,” Vikas Dwivedi, global energy strategist at Macquarie, told the Financial Times this month.…

U.S. President Donald Trump last week called on European countries to stop importing Russian oil and gas and to start imposing tariffs on China in order to end the war in Ukraine. He added that Washington is ready to impose major sanctions on Russia if NATO members -- the vast majority of which are European -- did both. On the continued buying of Russian oil and gas, Trump highlighted to the members of the security organisation that it greatly weakens their negotiating position and bargaining power over Russia. On the issue of imposing tariffs…

As the United States is pressuring Europe to cut off energy revenues for Russia, the European Union took a step to bring forward a ban on imports of Russian LNG a year earlier than planned. The European Commission on Friday proposed its 19th sanctions package against Russia over its war in Ukraine. This package, which will need unanimous approval from all EU member states, accelerates the timeline for phasing out Russian LNG imports into the bloc—from the end of 2027 to January 1, 2027, one year earlier than planned. “Russia’s…

For the past two years, the United States has set oil production records. This growth is a continuance of the surge in oil production resulting from the shale boom that began earlier this century. According to data from the Energy Information Administration, U.S. oil production average 13.2 million barrels per day in 2024, up from 12.7 million in 2023 and 12.5 million in 2022. It is now clear that the U.S. is on track this year to set its third consecutive annual record for crude oil production. Year-to-date production through the week ending September…

Serbia is a candidate for European Union membership and Hungary has been a full member since 2004, but that hasn’t prevented them from collaborating with Russia to undermine EU cohesion and meddle with efforts to break Europe’s dependency on Russian energy. Ukrainian drones, however, have succeeded in disrupting Belgrade’s and Budapest’s designs. EU Commissioner for Energy Dan Jørgensen unveiled an ambitious plan in June to stop all Russian oil and natural gas exports to the European Union by 2027. A little over one…

The Aluminum Monthly Metals Index (MMI) remained sideways with an upside bias, rising 0.56% from August to September. Meanwhile, the global price of aluminum reached highs not seen since the beginning of the year. Track other MetalMiner monthly indexes here, and compare how the overall industrial metal market is performing. Aluminum Prices Bullish on Global Supply Concerns LME aluminum touched a 6-month high by its September 16 close as the price of aluminum broke out of its sideways trend on emerging deficit concerns due to Chinese output nearing…

China’s crude imports from Russia fell in August compared with a year earlier, representing the first annual decline in months, according to official Chinese customs data cited by South China Morning Post. However, there is nuance in the data detail, with shipping trackers via S&P Global showing seaborne flows from Russia to China actually rising compared with July. Figures reported by the SCMP, citing Chinese customs, show imports from Russia were down around 15% year-on-year in August. The drop came as China boosted purchases from other…

China’s crude imports from Russia fell in August compared with a year earlier, representing the first annual decline in months, according to official Chinese customs data cited by South China Morning Post. However, there is nuance in the data detail, with shipping trackers via S&P Global showing seaborne flows from Russia to China actually rising compared with July. Figures reported by the SCMP, citing Chinese customs, show imports from Russia were down around 15% year-on-year in August. The drop came as China boosted purchases from other…

An Irish energy tycoon has revealed plans to build a new gas storage site in the Irish Sea that would boost the UK’s capacity by over 50 per cent. Tony O’Reilly Jr’s Dcarbonx, which is backed by gas infrastructure behemoth Snam, wants to redevelop a former gas site off the coast of Barrow-in-Furness as part of an £830m megaproject that it claims would address the “mounting national security risk”. O’Reilly, who is the son of the billionaire former Heinz boss of the same name, said the project would help…

Oil production capacity in Kuwait has hit a more than decade high of 3.2 million barrels per day (bpd), Tareq Al-Roumi, the Oil Minister of one of OPEC’s top producers, told local newspaper Al Qabas. Kuwait had a similar production capacity in the late 2000s, with capacity hitting the highest on record of 3.3 million bpd in 2010. Kuwait’s oil production capacity began to drop after 2010, but the OPEC heavyweight has launched a program in recent years to raise it. Earlier this year, Kuwait said it plans to invest as much as $50 billion…

Oil production capacity in Kuwait has hit a more than decade high of 3.2 million barrels per day (bpd), Tareq Al-Roumi, the Oil Minister of one of OPEC’s top producers, told local newspaper Al Qabas. Kuwait had a similar production capacity in the late 2000s, with capacity hitting the highest on record of 3.3 million bpd in 2010. Kuwait’s oil production capacity began to drop after 2010, but the OPEC heavyweight has launched a program in recent years to raise it. Earlier this year, Kuwait said it plans to invest as much as $50 billion…

Oil production capacity in Kuwait has hit a more than decade high of 3.2 million barrels per day (bpd), Tareq Al-Roumi, the Oil Minister of one of OPEC’s top producers, told local newspaper Al Qabas. Kuwait had a similar production capacity in the late 2000s, with capacity hitting the highest on record of 3.3 million bpd in 2010. Kuwait’s oil production capacity began to drop after 2010, but the OPEC heavyweight has launched a program in recent years to raise it. Earlier this year, Kuwait said it plans to invest as much as $50 billion…

China has spent up to $13 billion developing fusion energy since 2023 and could commercially replicate star power to generate electricity by 2030, becoming the first nation to master what’s commonly dubbed “the holy grail of energy solutions.” Doing so would give the Chinese Communist Party (CCP) “the potential to reshape global geopolitics” and “dominate a new energy era,” Massachusetts Institute of Technology physicists warn. This cannot happen, said Rep. Randy Weber (R-Texas), who chairs the House Science,…

BP has cancelled plans for a major biofuels facility at its Rotterdam refinery, scoring another setback for Europe’s drive to scale advanced biofuels, as reported by Reuters. The energy giant confirmed on Monday that it will not proceed with the standalone plant and will instead focus on co-processing biofuels in existing refineries, which are cheaper, lower-risk options. A spokesperson said that the project no longer met BP’s capital return thresholds, which mirror those of its upstream oil and gas operations. The Rotterdam project…