Crude oil inventories in China rose to the highest in almost three years in March, suggesting demand growth was lagging behind refinery processing rates, which hit a one-year high last month as Chinese oil processors took advantage of cheap Iranian and Russian crude. Reuters’ Clyde Russell reported that 1.74 million barrels daily went into storage last month in China, citing official data from Beijing and noting that this is the highest rate of storage inflows since June 2023. Run rates at Chinese refineries during the same month averaged…

Analysts are not ruling out the possibility that some oil and gas supermajors could announce as soon as this week reduced share buyback programs for this year compared to the guidance from early 2025, before the oil price slide. Investors will be more focused to learn how Big Oil plans to cope with the 12% decline in oil prices so far this year and whether the dividend and share repurchases still stand as pledged at the Q4 earnings calls, than on the exact number of billions of U.S. dollars the firms made in the first quarter, analysts at investment…

Mergers and acquisitions in the U.S. shale industry got off to a strong start this year. Oil was trading at pretty reasonable prices—unless you’re OPEC—there was a pro-oil president in the White House, and the outlook was bright. For a while. Then, prices took a dive, markets panicked about tariffs, and everyone started predicting economic catastrophe. The outlook is no longer so bright. The first quarter of 2025 saw shale oil and gas deals worth a total of $17 billion, Enverus reported this week. This made the quarter the second-best…

The U.S. stock market remains deeply in the red, with a barrage of on-and-off tariff announcements by U.S. President Donald Trump creating confusion and uncertainty. Two weeks ago, Trump unveiled steep tariff hikes, before turning around and issuing a 90-day pause on what the administration calls ‘reciprocal tariffs.’ Trump announced that a baseline tariff rate of 10% would remain in effect during the negotiation period. Energy (-3.3% YTD) is among the nine sectors of the stock market in the red so far in the year, with only Utilities…

The annual COP climate summits aim to progress international efforts to reduce the impact of climate change, support a green transition, and decarbonise economies worldwide. However, the organisers have come under fire in recent years for failing to prevent the environmental degradation associated with the conference. Unsustainable development in host countries, high numbers of fossil fuel lobbyist attendees, and the use of private jets to attend the event are just some of the criticisms of the summit.  This year’s COP30 climate summit…

If you’ve filled your tank in California lately, you’ve felt the sting—gas prices there aren’t just high, they’re consistently the highest in the nation. As of April 14, 2025, the average price of a gallon of regular unleaded in California was $4.67—more than 55% above the national average. In some counties, including Mono and Alpine, prices exceed $5.80 a gallon. That’s nearly 90% more than what drivers are paying in states like Texas or Mississippi. These aren’t short-term spikes—they’re…

The U.K. has ambitious nuclear power plans and is developing several small- and large-scale projects. While opposition, high costs, and other factors have slowed development in the past, EDF has been facing another problem at its Hinkley Point C construction – a rat infestation.  In early April, the Unite and GMB trade unions for workers at Hinkley Point C in Somerset, in the south of England, informed the developer, French energy giant EDF, that the facility was overrun with rats. The unions said that immediate action was needed as…

The operator of the largest gas-fired electricity generation fleet in America believes that renewables will be vital to meet the rise in power demand driven by AI and the reshoring of manufacturing.   NextEra Energy – whose 72 gigawatts (GW) operating portfolio consists of 55% renewables, 36% gas, and 8% nuclear power generation – says that America will need all forms of energy to meet the expected surge in demand. And wind, solar, and battery storage can act as the “bridge” energy source until new natural gas…

The U.K. Labour government has introduced several policies aimed at advancing the country’s green transition since coming into power last July. New climate and green energy policies, coupled with higher levels of national funding for renewables, are helping to attract billions in private investment. The government now aims to use the current geopolitical situation with the United States to encourage even more financing for energy projects.  The U.K. government hopes to attract green investors to the country as they look for alternative…

Kazakhstan and Kyrgyzstan have joined Azerbaijan in hardening their attitudes towards Russian soft power entities. On April 22, RFE/RL reported that an employee of Russia House in the southern Kyrgyz city of Osh had been taken into custody on suspicion of illegally trying to recruit locals to join the Russian army to fight in Ukraine. Russia House in Osh is operated by Rossotrudnichestvo, a state agency that funds a variety of Kremlin soft-power projects. A Kyrgyz court has ordered the Kyrgyz national, identified as Natalia Sekerina, to remain…

High-stakes nuclear talks between the United States and Iran have already entered the technical phase after just two rounds of negotiations mediated by Oman. A third round of talks, along with separate technical discussions, is scheduled for April 26 in Muscat. The progress has fueled speculation, particularly in Iran, that the administration of US President Donald Trump has dropped its demand for the dismantlement of Tehran's nuclear program in favor of simply capping it. But analysts caution that it's far too early to draw such conclusions. While…

Trinidad and Tobago has steadily been developing its fossil fuel potential in line with regional growth. Neighbouring Guyana has attracted attention from numerous international oil majors eyeing Caribbean oil and gas, which has, in turn, garnered greater attention in Trinidad and Tobago’s energy sector. While some operations are under threat due to the introduction of sanctions on neighbouring Venezuela, the government hopes to expand several of the country’s oil and gas fields in the coming years.  Trinidad and Tobago has long…

The world economy is at a major turning point, which is why we should brace for rapid changes in the economy. The world is moving from having enough goods and services to go around, to not having enough to go around. The dynamics of the economy are very different with not enough to go around. The hoped-for solution of higher prices doesn’t fix the situation; after a point, adding more buying-power mostly produces inflation. Other solutions are needed. The world economy is reaching what has been called “Limits to Growth.”…

Since U.S. President Donald Trump came into office in January, funding has become more uncertain across several sectors, including energy and research. Following recent Department of Energy (DoE) funding cuts, several universities and research institutions are now fighting back.  In April, the DoE announced a new policy action aimed at stopping inefficient spending by colleges and universities across the United States. The agency said it would continue to expand American innovation and scientific research. A new policy memorandum stated that…

Via Metal Miner   The “Trump Tariffs” continue to shock global markets, affecting multiple major sectors. Recently, European auto manufacturing ombudsmen reacted with alarm to President Donald Trump’s imposition of a 25% import tariff on auto imports into the United States. EU Auto Leaders React to Trump Tariffs Hildegard Müller, president of the German Association of the Automotive Industry, said in an April 3 statement, “This protectionism will only produce losers. Consumers in the US will be particularly affected,…

Germany's RWE just pulled the plug on its U.S. offshore wind business. Quietly. No fireworks, no headlines about thousands of turbines scrapped—just a dry admission that it's "halting activities" in American waters. For one of Europe’s biggest green energy giants to walk away from a market as large as the U.S., in the middle of an energy transition no less, is not just a business decision. It’s a red flag. The exit—confirmed by a speech manuscript published ahead of a yet-to-be-delivered speech by the company’s CEO—comes…

The total number of active drilling rigs for oil and gas in the United States rose again this week, according to new data that Baker Hughes published on Thursday, following a 2-rig increase in the prior week. The total rig count in the US rose by 2 to 587 rigs, according to Baker Hughes, down 26 from this same time last year. The number of oil rigs rose by 2 to 483—down by 23 compared to this time last year. The number of gas rigs rose by 1 this week, to 99 for a loss of 6 active gas rigs from this time last year. Miscellaneous rigs lost…

The world’s biggest oilfield services provider, SLB (NYSE: SLB), flagged heightened uncertainties about upstream oil and gas investment amid fears of economic slowdown, fluctuating oil prices, and unknown tariff talks outcomes and impacts.   SLB reported on Friday earnings per share (EPS) of 0.72 for the first quarter, which it described as “subdued”, and flagged potential changes in the industry’s appetite for upstream investment going forward. SLB’s first-quarter earnings fell by 4% from the same period last…

Oil prices slipped on Friday, heading for a weekly loss of more than 2%, weighed down by oversupply concerns and ongoing uncertainty surrounding U.S.-China tariff negotiations. The oil markets have seemingly tired of trying to anticipate the next move of US President Donald Trump, with ICE Brent settling within a relatively narrow bandwidth of $66.0-67.5 per barrel this week. Such rangebound trading still represents a fall from a week ago, with hopes of potential US-China trade talks quashed by the Chinese Foreign Ministry denying that any bilateral…

The Trump Administration is pushing the International Energy Agency (IEA) to ditch its focus on the energy transition and promotion of renewable energy sources, two sources briefed on recent IEA meetings have told POLITICO. Reports emerged as early as last summer during President Donald Trump’s presidential campaign that if elected, Trump would push the IEA, for which the United States provides about a quarter of the funding, to focus back on energy security and fossil fuel supply.   The Paris-based IEA was created to ensure the…