• News
    Global Energy Trader Vitol Posts 8% Oil Volume Surge

    Global Energy Trader Vitol Posts 8% Oil Volume Surge

    Global energy trader Vitol stated Friday its 2019 revenues have been $225 billion and its traded oil and refined products volume soared by 8%. CEO Russell Hardy stated last year’s efficiency was “solid”, as the corporate’s traded oil volume hit 8 million barrels per day (bpd), up from 7.4 million bpd two years ago. At the beginning of January, the…

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  • Crude Oil
    Investors Suggest Big Oil Firms to Break Dividend Taboo As Debt Elevates

    Investors Suggest Big Oil Firms to Break Dividend Taboo As Debt Elevates

    The world’s most significant oil and gas companies should break a business taboo and consider reducing dividends, somewhat than taking on any extra debt to maintain payouts as they weather the fallout from the coronavirus pandemic, traders say. The top five so-called oil giants have avoided decreasing dividends for years to keep traders sweet and added a $25 billion collectively…

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  • News
    Polish Officials Suggest EU to Scrap Emissions Trading Scheme

    Polish Officials Suggest EU to Scrap Emissions Trading Scheme

    The European Union tought to diminish its Emissions Trading System or exclude Poland from the scheme, which helps fight global warming, to free up funds for Warsaw to battle the consequences of COVID-19, a senior Polish official stated. Under the ETS, the EU charges for the right to emit CO2. European energy generators, industrial emitters and airways flying flights within…

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  • News
    Rapid Spread of Coronavirus Disrupts Solar Energy Sector

    Rapid Spread of Coronavirus Disrupts Solar Energy Sector

    The coronavirus pandemic is threatening project schedules in the booming U.S. solar sector following a year in which the sector topped natural gasoline as the nation’s prime new power supply, based on a report featured on Tuesday. The fallout from the outbreak has affected both supply networks and demand in the fast-rising sector, and the president of the top U.S.…

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  • News
    U.S. to Buy Crude for Strategic Petroleum Reserve After Two Weeks

    U.S. to Buy Crude for Strategic Petroleum Reserve After Two Weeks

    The US might start purchasing the U.S. produced crude oil for the Strategic Petroleum Reserve (SPR) in two weeks from now, and fill it in some months, an Energy Division source stated Monday. President Donald Trump stated late Friday that he has ordered the Energy Division to fill the reserve “to the top.” The step was aimed toward helping domestic energy…

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  • Crude Oil
    Oil to Fall Lowest Since 2008 Financial Crisis Despite Rising Over 3%

    Oil to Fall Lowest Since 2008 Financial Crisis Despite Rising Over 3%

    Oil prices had been set for their worst weekly drop since the 2008 financial crisis, regardless of rising over 3% Friday, as investors worried over evaporating demand from the coronavirus pandemic and a production increase by top producers. Brent crude was up $1.12, i.e., 3.4%, at $34.33 per barrel after tanking over  7% Thursday. For the week, Brent is set…

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  • News
    Duke Energy Strikes Power Contract in North Carolina

    Duke Energy Strikes Power Contract in North Carolina

    After capturing Cisco and Google as of early adopters of the firm’s Green Source Advantage program (GSA), Duke Energy has laid out its first municipal agreement under the scheme – a 35 MW power purchase agreement (PPA) with the city of Charlotte, North Carolina. The PPA, which was accredited by the city council in February, makes Charlotte the most populous city…

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  • Crude Oil
    Oil State Senators Urge Trump Administration to Revoke Decision to End Biofuel Waivers

    Oil State Senators Urge Trump Administration to Revoke Decision to End Biofuel Waivers

    The oil sector and its Capitol Hill aides are pressing the Trump administration to defend its decision to eliminate oil refineries from requirements they mix biofuels into gasoline and diesel. The administration has time until the next Monday to request the 10th Circuit U.S. Appeals Court to rehear a verdict that threatens to reduce the use of waivers. Republican senators…

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  • News
    New Solar Power to Sustain More Than 10,000 Homes Will Be Built with The Help of Charlotte

    New Solar Power to Sustain More Than 10,000 Homes Will Be Built with The Help of Charlotte

    Charlotte is now within the solar power enterprise, following a metropolis council vote Monday night time to a companion in constructing a 35-megawatt solar farm in Iredell County. The town says that, with Monday’s vote, Charlotte turned the most populous U.S. metropolis essentially to acquire renewable energy by way of a utility “green tariff” equivalent to Duke’s Green Source Advantage…

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  • Natural Gas
    U.S. Pipeline Venture Delayed Due to Costs

    U.S. Pipeline Venture Delayed Due to Costs

    The almost USD $1-billion Constitution Pipeline venture, which had been designed to take natural gas from Pennsylvania’s shale gas fields to metropolitan New York and New England, has been deserted after years of authorized regulatory challenges made it economically unfeasible, a spokesperson for venture companion Duke Energy stated Monday. Duke is one of four challenge companions. The principal associate is…

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