Despite indicating they would refill the Strategic Petroleum Reserve (SPR) by the end of this year, the Department of Energy has now canceled solicitations offered last month. Citing rising oil prices, the DOE said, “We will not award the current solicitations for the Bayou Choctaw SPR site and will solicit available capacity as market conditions allow.”...

The UK’s North Sea Transition Authority (NSTA) offered on Friday another 31 licenses for North Sea exploration in the final tranche of the 33rd oil and gas licensing round.   In all three tranches of the licensing round, the UK regulator has awarded over the past few months a total of 82 licenses to 50 companies. The first tranche offered 27 licenses...

As the energy transition continues at pace, reducing the carbon footprint of traditionally high-emitting industries is increasingly crucial to limiting global emissions. Of these hard-to-abate sectors, steel manufacturing is one of the most challenging. Despite incentives and tax breaks designed to promote the production of green steel – produced using...

TC Energy Corporation reported on Friday an increase in comparable earnings for the first quarter of 2024 versus the same period last year, beating analyst estimates, as natural gas pipeline deliveries from western Canada to domestic and export markets jumped to a record. The Canada-based pipeline operator booked comparable earnings of US$0.91 (C$1.24)...

Shares in names like VW, Mercedes and Stellantis were lower this week, heading into Wednesday's session, after news of "falling demand" in Europe.  In the first quarter of this year, Europe's top two car manufacturers faced a downturn due to diminished demand in China and domestic markets, Financial Times reported on Tuesday this week. Volkswagen Group...

Chevron is repairing a mechanical fault in a turbine at one of the three LNG production trains at its Gorgon LNG facility in Australia, with works expected to take weeks, the local unit of the U.S. supermajor told LNG Prime on Friday.    The fault at the turbine occurred in the afternoon local time on Tuesday, April 30, the company said on Friday.  ...