Denmark has summoned the U.S. envoy after intelligence reports of suspected influence operations in Greenland, a mineral-rich Arctic territory central to offshore oil prospects and critical minerals, Reuters reported on Wednesday, describing the effort as an attempt to promote secession.  The development adds urgency to oversight of exploration and mining policy, with Danish officials saying the case could impact licensing timelines and control of future export routes. According to media reports, at least three Americans tied to U.S. President…

According to MetalMiner’s sources, ArcelorMittal sought another increase in its hot rolled coil coffers on August 5. This is in addition to the increase the steel industry leader sought in the previous week. Reports indicate that the Luxembourg-headquartered company is now seeking up to €610 ($705) per metric ton EXW for Q4 delivery, up almost 3.4% from the €590 ($685) it was seeking in the previous week. Traders Doubt Buyers Will Accept Hikes One industry trader did not believe that buyers would so readily accept the hikes, especially…

CNOOC Ltd, China’s top offshore crude oil and natural gas producer, booked a 13% drop in first-half earnings as record-high domestic and overseas oil and gas production couldn’t offset the decline in oil prices amid volatile and challenging markets.     CNOOC, which specializes in offshore oil and gas developments in China and internationally, reported on Wednesday a net profit of $9.7 billion (69.5 billion Chinese yuan) for the first half of 2025, down by 13% from a year earlier.  The value of oil and gas sales…

CNOOC Ltd, China’s top offshore crude oil and natural gas producer, booked a 13% drop in first-half earnings as record-high domestic and overseas oil and gas production couldn’t offset the decline in oil prices amid volatile and challenging markets.     CNOOC, which specializes in offshore oil and gas developments in China and internationally, reported on Wednesday a net profit of $9.7 billion (69.5 billion Chinese yuan) for the first half of 2025, down by 13% from a year earlier.  The value of oil and gas sales…

CNOOC Ltd, China’s top offshore crude oil and natural gas producer, booked a 13% drop in first-half earnings as record-high domestic and overseas oil and gas production couldn’t offset the decline in oil prices amid volatile and challenging markets.     CNOOC, which specializes in offshore oil and gas developments in China and internationally, reported on Wednesday a net profit of $9.7 billion (69.5 billion Chinese yuan) for the first half of 2025, down by 13% from a year earlier.  The value of oil and gas sales…

Crude oil inventories in the United States decreased by 2.4 million barrels during the week ending August 22, after falling 6 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 418.3 million barrels according to government data, which is 6% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which suggested that crude oil inventories…

Kazakhstan is in discussions to resume crude oil exports via the Baku-Tbilisi-Ceyhan (BTC) pipeline to the Turkish Mediterranean coast after supply was interrupted last month due to organic chlorides found in Azeri oil on the pipeline, Kazakhstan’s Energy Minister Yerlan Akkenzhenov said on Wednesday.  Kazakhstan’s top oil official confirmed for the first time that there had been disruption to oil supply via the pipeline and that deliveries were halted.  Kazakhstan, an oil producer part of the OPEC+ group, has decided to reroute…

Kazakhstan is in discussions to resume crude oil exports via the Baku-Tbilisi-Ceyhan (BTC) pipeline to the Turkish Mediterranean coast after supply was interrupted last month due to organic chlorides found in Azeri oil on the pipeline, Kazakhstan’s Energy Minister Yerlan Akkenzhenov said on Wednesday.  Kazakhstan’s top oil official confirmed for the first time that there had been disruption to oil supply via the pipeline and that deliveries were halted.  Kazakhstan, an oil producer part of the OPEC+ group, has decided to reroute…

Kazakhstan is in discussions to resume crude oil exports via the Baku-Tbilisi-Ceyhan (BTC) pipeline to the Turkish Mediterranean coast after supply was interrupted last month due to organic chlorides found in Azeri oil on the pipeline, Kazakhstan’s Energy Minister Yerlan Akkenzhenov said on Wednesday.  Kazakhstan’s top oil official confirmed for the first time that there had been disruption to oil supply via the pipeline and that deliveries were halted.  Kazakhstan, an oil producer part of the OPEC+ group, has decided to reroute…

The Gulf of America (GoA) has witnessed an outstanding 2025 in terms of startup activity. Three new floating production units (FPU) are set to begin operations by year-end, with the potential to drive the basin’s deepwater output to an all-time high of nearly 2.2 million barrels of oil equivalent per day (boepd) in 2026. The year started with a bang when Shell brought its Whale FPU on-line in January, reportedly achieving peak oil production rates of 100,000 barrels per day (bpd) within five months. Private operator Beacon Offshore Energy…

Over the past decade, the United States has become the world’s biggest crude oil producer and the top LNG exporter—all thanks to the shale boom. Fracking has boosted U.S. oil and gas production to record highs and significantly raised America’s oil and gas exports, giving the United States sway over global oil and LNG markets. Soaring U.S. oil production has challenged OPEC’s decades-long influence on global oil supply and prices, while American LNG exports have upended global natural gas trade, both in cargo flows and pricing…

The government of Canada’s biggest oil-producing province is in talks with Japanese parties with a view to investing in the latter’s refining industry. The move, according to unnamed sources who spoke to Reuters, should secure a table overseas market for Alberta’s crude. Per the report, this would be the first Alberta government investment in foreign energy infrastructure, potentially marking a new stage in the province’s energy policies and a departure from the historical almost complete reliance on the United States as…

Back in April, U.S. President Donald Trump signed an executive order that, among other things, recognized coal as a critical mineral and opened federal lands to coal mining. Trump ordered the Secretary of Energy to examine the potential for expanding coal-based infrastructure to meet the electricity needs of AI data centers and other high-performance computing operations. Then in May, Trump ordered the massive  JH Campbell coal-fired power plant at the edge of Lake Michigan to be kept open for three months, before extending the deadline until…

The supply and demand model of economists suggests that oil prices might rise to consistently high levels, but this has not happened yet: Figure 1. Average annual Brent equivalent inflation-adjusted crude oil prices, based on data of the 2025 Statistical Review of World Energy, published by the Energy Institute. The last year shown is 2024. In my view, the economists’ model of supply and demand is overly simple; its usefulness is limited to understanding short-term shifts in oil prices. The supply and demand model of economists does…

Pakistan is undergoing an energy revolution fuelled by a sharp rise in solar-plus-battery systems. This rapid evolution and decentralization of power grids is helping to shore up the nation’s energy security and meet international decarbonization pledges. However, while the solar boom is helping to keep the lights on for many Pakistanis, it is also hurting the poorest citizens. Pakistan has long struggled with rolling blackouts, power shortages, and crippling energy costs, and – like many emerging economies around the world –…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell this week, dropping by 974,000 barrels in the week ending August 15. Analysts had expected a larger 1.7-million-barrel draw. So far this year, crude oil inventories are up 6.8 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 800,000 barrels to 404.2 million barrels in the week ending August 22. At…

Simple answers are easy, but often wrong. The real ones take context, and a little more work. Below I provide the context for the question in the title, if you put in the work to read and understand. I was recently forwarded a link to a story at an NBC affiliate in Montana–’Drill, baby, drill’: Gas prices might drop below $3 by end of 2025–that purports to connect the recent drop in gasoline prices with President Trump’s pro-energy policies.  The first line of the article states: “There has recently been…

The Turkish government is moving quickly to capitalize on new economic opportunities created by US President Donald Trump‘s peace plan for Armenia and Azerbaijan.  Turkish officials held a groundbreaking ceremony on August 22 for a new 224-km rail line stretching from the eastern Turkish hub of Kars to Dilucu at the frontier with Azerbaijan’s Nakhchivan exclave. The Kars-Dilucu rail line is envisioned as the largest section of a new transit corridor that is the centerpiece of the Trump peace plan. The new route would be initially…

Russia’s fuel oil shipments went mostly to Saudi Arabia and India in July as Asia and the Middle East remain the key outlets for Moscow’s fuel oil and vacuum gasoil (VGO) amid import bans and embargoes in the West. Russia’s oil products have been banned in the EU and other Western countries since 2023, so Moscow has redirected most of the shipments to Asia and the Middle East. Saudi Arabia, which runs fuel oil in power plants to meet soaring air-conditioning demand in the desert summer, and India, whose refiners run fuel oil as…

Via Metal Miner China’s decision to file a complaint in the World Trade Organization against Canadian tariffs and the steel tariff rate quota has re-focused the spotlight on what many have dubbed an “already-strained trade relationship” between the two countries.  A few years ago, both nations resorted to tit-for-tat measures, including tariffs on everything from canola to electric vehicles. As it has with other countries, China has accused Canada of discriminatory trade practices. The move by China’s Ministry of Commerce…