Brent at $90.94 looks almost civilized. Jeff Currie thinks that is exactly the problem: everyone is staring at crude while the real energy shock is already showing up in the fuels people actually buy. “Nobody on the planet earth consumes crude oil,” Currie told CNBC. Refineries do. Everyone else consumes gasoline, diesel and jet fuel, and those markets look considerably uglier. European diesel was trading around $170 per barrel during the interview, Currie said, almost twice Brent’s current $90.94. WTI was trading at $84.94 Tuesday.…

Romania has this week restarted a 300-megawatt coal-fired power plant to partially offset the generation lost by the closure of nuclear electricity output after the low water level on the Danube river forced a shutdown of the country’s only nuclear power plant. Romania, which lost 20% of its power generation with the closure of both rectors at its Cernavoda nuclear power plant, has restarted the Rovinari Group 4 coal-fired power unit. The additional coal-fired generation is adding nearly 300 megawatts (MW) to the National Energy System, Cristian…

Romania has this week restarted a 300-megawatt coal-fired power plant to partially offset the generation lost by the closure of nuclear electricity output after the low water level on the Danube river forced a shutdown of the country’s only nuclear power plant. Romania, which lost 20% of its power generation with the closure of both rectors at its Cernavoda nuclear power plant, has restarted the Rovinari Group 4 coal-fired power unit. The additional coal-fired generation is adding nearly 300 megawatts (MW) to the National Energy System, Cristian…

Britain faces a simple choice. While we still need oil and gas, do we produce more of it here, supporting jobs, investment, energy security and lower production emissions, or do we import more from overseas, which costs more and involves higher emissions? That is the real question facing ministers as they consider Jackdaw and Rosebank. With extreme weather becoming ever more visible, the need to tackle climate change is beyond doubt. The UK must scale up renewable and low-carbon energy, but people deserve honesty. Even on our path to net zero,…

Power Metals is advancing what it describes as North America’s only cesium project at a time when America’s defense ambitions are colliding with the reality of critical mineral supply chains. The U.S. imports 100% of its required cesium, a rare mineral used in atomic clocks, GPS systems, aerospace solar technology, advanced communications networks, and high-tech defense equipment. That could make a high-grade cesium discovery in Ontario a potential source of new North American supply. And now it’s moved from a discovery story…

U.S. oil companies dominating the shale patch are planning to trim their spending plans and instead take advantage of higher international oil prices to reduce debt and boost shareholder returns. This is bad news for production growth. Bloomberg reported earlier this month that all the big names in shale had reduced their spending over the first six months of the year. Chevron and ConocoPhillips spent 10% less in the period while Occidental slashed its spending on operations in the Permian by as much as a fifth over the first half of the year.…

The rise of automation, AI, and electric trucks can fundamentally change the freight transportation industry in the United States, leading to a revolution in transport fuel demand. Various vehicle and technology companies and U.S. cities and states have launched in recent years automation trucking pilot programs. In barge transportation on the Mississippi River, AI-assisted co-pilot projects are already being used to make transportation more efficient. The increase in efficiency, via technological, autonomous, or AI-enabled systems, could optimize…

The proposed Libya–Egypt crude oil pipeline has, surprisingly quickly, entered a phase in which Cairo and Tripoli are actively discussing it. The pipeline, expected to be 800 kilometers long, will connect Tobruk in eastern Libya to Egypt’s port of Alexandria, allowing Libyan crude to flow directly into Egypt's Mediterranean refining system. With an expected cost of over $1 billion, it represents a significant strategic opportunity. However, neither the final capacity, financing structure, nor investment decision has yet been agreed.…

Strategic shortfalls? Maybe in getting cobalt out of the Congo or rare earth powders from China or natural gas from Russia or oil from the Persian Gulf? Or maybe something closer to home. Thanks to climate change (yes, just say it and hope the big boss doesn’t hear you), temperatures have risen, and rainfall patterns have changed dramatically. As an example of the consequences, the Colorado River’s flow has diminished and Lake Mead, its principal reservoir, has dropped to record low water levels. Aside from the obvious impact on water…

Carbon capture is still debated as if technical performance were the decisive question. Can a solvent remove carbon dioxide from flue gas? Can the CO2 be compressed, transported and injected underground? Will the storage remain secure? These questions matter, but they no longer explain why most announced projects do not reach construction. The missing component is usually commercial. A cement plant can capture carbon and still lose money on every tonne. A storage site can be technically ready and remain empty without contracted volumes. A pipeline…

Russia has received its first gasoline cargo from India as Ukrainian attacks knock out refining capacity and a second wave of fuel shortages spreads across at least 10 Russian regions, Reuters reported on Monday. The roughly 68,000-metric-ton cargo was produced by Nayara Energy at its Vadinar refinery in western India and delivered to Russia’s Arctic port of Vitino after a ship-to-ship transfer at Port Said, Egypt. Two more gasoline cargoes from India are expected to reach Russia in the coming weeks. Russia’s gasoline shortages have…

Russia has received its first gasoline cargo from India as Ukrainian attacks knock out refining capacity and a second wave of fuel shortages spreads across at least 10 Russian regions, Reuters reported on Monday. The roughly 68,000-metric-ton cargo was produced by Nayara Energy at its Vadinar refinery in western India and delivered to Russia’s Arctic port of Vitino after a ship-to-ship transfer at Port Said, Egypt. Two more gasoline cargoes from India are expected to reach Russia in the coming weeks. Russia’s gasoline shortages have…

Russia has received its first gasoline cargo from India as Ukrainian attacks knock out refining capacity and a second wave of fuel shortages spreads across at least 10 Russian regions, Reuters reported on Monday. The roughly 68,000-metric-ton cargo was produced by Nayara Energy at its Vadinar refinery in western India and delivered to Russia’s Arctic port of Vitino after a ship-to-ship transfer at Port Said, Egypt. Two more gasoline cargoes from India are expected to reach Russia in the coming weeks. Russia’s gasoline shortages have…

Since early March, a previously obscure waterway between Iran and Oman that very few people could name has become the subject of daily reporting around the world after Iran closed it in response to the attack on Iran by the United States and Israel. The Strait of Hormuz, which remains closed to most ships, is now known around the world as the transit point for 20 percent of the world's oil and high percentages of key materials including fertilizers such as ammonia (23 percent), urea (34 percent) and phosphate (20 percent), helium (30 percent),…

Chevron has announced a new oil and gas condensate discovery offshore Angola, hitting more than 2,000 feet of hydrocarbons in a Block 0 exploration well that could be tied directly into the company’s existing production infrastructure in the country. The 105-4X well encountered more than 300 feet of net pay in the Pinda reservoir in the Lower Congo Basin, with Chevron describing the reservoir quality as “excellent” in a press release. The company has not yet disclosed an estimate of recoverable resources or potential production.…

U.S. importers hauled in more than 200,000 tonnes of refined copper in July, the biggest monthly volume in at least 12 years. Add that to what's already sitting in Comex warehouses, LME-registered stock and private port storage, and the country's copper stockpile is now pushing past 1 million tonnes, built almost entirely on the bet that Washington is about to tax refined imports. LME warehouse stocks, however, have fallen for 42 straight sessions, the longest losing streak since 2014, down to just 204,975 tonnes, with nearly half of that already…

Libya’s electricity grid suffered another major collapse on Monday, knocking power plants offline across western, central and southern parts of the country, shutting down the Great Man-Made River water system, fueling widespread public anger in a country already divided between rival power centers. The Zawiya, Khoms and Ubari power plants went offline, with large parts of western and central Libya losing electricity. The Libya Herald reported that it was the third major blackout to hit western Libya in two days. The cause of Monday’s…

Libya’s electricity grid suffered another major collapse on Monday, knocking power plants offline across western, central and southern parts of the country, shutting down the Great Man-Made River water system, fueling widespread public anger in a country already divided between rival power centers. The Zawiya, Khoms and Ubari power plants went offline, with large parts of western and central Libya losing electricity. The Libya Herald reported that it was the third major blackout to hit western Libya in two days. The cause of Monday’s…

Libya’s electricity grid suffered another major collapse on Monday, knocking power plants offline across western, central and southern parts of the country, shutting down the Great Man-Made River water system, fueling widespread public anger in a country already divided between rival power centers. The Zawiya, Khoms and Ubari power plants went offline, with large parts of western and central Libya losing electricity. The Libya Herald reported that it was the third major blackout to hit western Libya in two days. The cause of Monday’s…

When President Vladimir Putin sent his forces into Ukraine, the Kremlin appeared to be betting on a familiar axiom of European security: sheer Russian mass, backed by vast Soviet-era stockpiles and nuclear power, would overwhelm resistance. More than four years into Moscow’s full-scale invasion, that assumption has been all but obliterated. Ukraine survived, derailed Russia's expected quick victory, and turned the conflict into a high-tech war of attrition. It has developed an innovation cycle that Joshua Huminski, senior vice president for…