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Oil and Gas Sector · EilatIsrael is set to significantly increase the number of oil tankers docking at its Red Sea port of Eilat, driven by the need to bolster energy security amid escalating regional conflicts. This move, however, has sparked substantial environmental concerns due to the potential risks to the delicate coral reefs and surrounding ecosystems. Prime Minister Benjamin Netanyahu's office has pushed for the relaxation of current restrictions on oil unloading…See the Story
Israel to Ramp Up Red Sea Oil Imports Despite Environmental Risks
100% Right coverage: 1 sources
United States · United StatesOver the past few years, dozens of pundits and industry experts have laid out prognostications that the ongoing Fourth Industrial Revolution will drive unprecedented electricity demand growth in the United States and globally. Last year, the power sector consulting firm Grid Strategies published a report titled “The Era of Flat Power Demand is Over,” which pointed out that United States grid planners—utilities and regional transmission operator…See the Story
Data Centers Set to Consume 9% of U.S. Electricity by 2030
100% Right coverage: 1 sources
Chevron · Western AustraliaChevron has successfully restored full production at its Gorgon liquefied natural gas (LNG) export terminal in Western Australia following a month-long outage. The mechanical fault in a turbine, which caused the disruption, has been resolved, allowing the affected production train to resume operations. Despite the outage, the remaining two production trains and the domestic gas plant continued to operate at full capacity, ensuring ongoing supply…See the Story
Chevron's Gorgon LNG Resumes Full Production After Month-Long Outage
100% Right coverage: 1 sources
Germany · GermanyWith each day that goes by, there is more and more news indicating the EV market is saturated. First, it was manufacturers cutting back on EV investments, then a gradual shift back to hybrid vehicles - and now it's China pulling out of investments in Germany due to lack of demand. Chinese electric vehicle battery producers are scaling back their expansion in Germany due to a drop in EV sales, according to Nikkei Asia. SVOLT Energy Technology, a…See the Story
Chinese Battery Makers Slam Brakes on German Expansion as EV Sales Stall
100% Right coverage: 1 sources
Oil and Gas Sector · United StatesThe total number of active drilling rigs for oil and gas in the United States saw no change this week, according to new data that Baker Hughes published on Friday. The total rig count stayed the same at 600 this week, compared to 696 rigs this same time last year. The number of oil rigs fell by one this week, after staying the same in the week prior. Oil rigs stand at 496--down by 59 compared to this time last year. The number of gas rigs rose …See the Story
U.S. Oil, Gas Drillers Stuck In A Rut
100% Right coverage: 1 sources
Oil and Gas Sector · United StatesU.S. gasoline prices continue to head lower after the Memorial Day weekend amid lower oil prices and tepid demand. The national average for a gallon of regular gasoline has fallen by a nickel since last week to $3.56 as of Thursday, the largest one-week drop so far this year, AAA said. As of May 31, 2024, the AAA national average showed $3.559 per gallon of regular gasoline. That’s down from $3.609 per gallon a week ago and $3.657 a month ago. …See the Story
U.S. Gasoline Prices Continue to Drop
100% Right coverage: 2 sources
Economy · IndonesiaIndonesia, a major copper producer, has decided to postpone the start of a ban on its copper concentrate exports until the end of the year in a move that could deflate copper prices after they hit a record high in May. Indonesia wants its local copper miners to build smelters and start processing the raw material locally, to boost the economy and offer higher-value copper products that are crucial for clean energy equipment and grid upgrades. Th…See the Story
Indonesia’s Delay of Its Ban on Copper Exports Could Weigh on Prices
100% Right coverage: 1 sources
Oil and Gas SectorAuthored by Pete McGinnis via RealClearPolicy, In June 2023, the Bureau of Ocean Energy Management proposed a rule that would require stricter financial assurance standards for oil companies operating in the Outer Continental Shelf. This costly rule became final on April 15, 2024, but in the 10 months since its initial proposal, BOEM did nothing to alleviate concerns for smaller companies that comprise of 76 percent of oil and gas operators in t…See the Story
76% of Small Offshore Oil Companies at Risk
100% Right coverage: 1 sources