Turns out Washington isn’t buying what Brussels is selling—at least not yet. While the EU is lobbying to lower the G7’s $60-per-barrel price cap on Russian crude to $50 (with Ukraine yelling from the back row for a $30 tag), U.S. officials remain politely unconvinced. A European official attending the G7 finance powwow in Banff, Canada, told Reuters that the U.S. Treasury team thinks market forces are already doing the heavy lifting. With Brent prices wobbling around $64—and Russia’s Urals blend clocking in at a $10…

Turns out Washington isn’t buying what Brussels is selling—at least not yet. While the EU is lobbying to lower the G7’s $60-per-barrel price cap on Russian crude to $50 (with Ukraine yelling from the back row for a $30 tag), U.S. officials remain politely unconvinced. A European official attending the G7 finance powwow in Banff, Canada, told Reuters that the U.S. Treasury team thinks market forces are already doing the heavy lifting. With Brent prices wobbling around $64—and Russia’s Urals blend clocking in at a $10…

Exploitation of the vast Vaca Muerta shale in Argentina’s central southwest has unlocked a gargantuan unconventional hydrocarbon boom for the crisis-riven South American country. Rising oil and natural gas production from the 7.7-million-acre shale play is responsible for Argentina’s burgeoning hydrocarbon output, which is proving to be a silver bullet for the crisis-prone economy. President Javier Milei’s economic shock therapy, coupled with soaring oil and natural gas production, has put Argentina on the path to recovery. Growing…

China’s decades-long reign as the world’s top oil demand driver is nearing its end, according to new research published by Moody’s Investors Service demonstrating that China’s crude demand is expected to peak within the next 3–5 years, while India will continue to hold the lead in global oil demand growth through at least 2030. Moody’s attributes China’s demand plateau to slowing economic growth, a shrinking population, a plateau in vehicle ownership, and a rapid shift toward EVs and energy diversification.…

China’s decades-long reign as the world’s top oil demand driver is nearing its end, according to new research published by Moody’s Investors Service demonstrating that China’s crude demand is expected to peak within the next 3–5 years, while India will continue to hold the lead in global oil demand growth through at least 2030. Moody’s attributes China’s demand plateau to slowing economic growth, a shrinking population, a plateau in vehicle ownership, and a rapid shift toward EVs and energy diversification.…

Western energy supermajors are faced with an increasingly difficult challenge: either keep their promise of returning ever-higher shareholder returns or risk spurning investors to save their balance sheets. Record cash has been allocated to shareholders, but with recent double-digit dips in oil prices not reversing, these payouts will be increasingly difficult to maintain. Rystad Energy estimates that the majors will likely need to reduce both investment and shareholder payouts to balance their cash flows in the current oil price environment. “Recent…

The text that passed the House on a 215-214, party-line vote early Thursday is even less favorable to clean energy interests than a previous draft that industry groups widely panned, UtilityDive reported. The bill terminates the 48E investment and 45Y production tax credits for non-nuclear clean energy projects placed in service after 2028, with no phaseout period. Projects must begin construction within 60 days of the bill’s enactment — likely later this year — to be eligible for the credits. The version the House…

Elon Musk has issued a stark warning to those behind violent attacks against Tesla, vowing criminal consequences for what he described as “evil” acts of politically motivated vandalism and threats. Speaking in a virtual interview at the Qatar economic forum on Tuesday, the Tesla and SpaceX chief executive said he had taken the recent wave of violence and backlash “personally”, and was unequivocal in his condemnation of those behind them. He said: “I’m not someone who has ever committed violence, yet massive…

The European Union spent more on Russian fossil fuels in 2024 than it provided to Ukraine in military and financial assistance, according to new data published by the Centre for Research on Energy and Clean Air (CREA). First reported by Euromaidan Press on Thursday, the analysis shows that the EU paid approximately €7 billion more on Russia energy imports than it doled out to Ukraine last year. Despite an array of sanctions and public commitments to wean off Russian oil and gas, Brussels ended up spending an estimated €46 billion on Russian…

Realism is still far away in the European green hydrogen sector; the IEA reports significant constraints. It is high time to bring a more realistic approach to the forefront of our strategies.Realism still seems to be out of reach when the world hydrogen sector has been sailing into the Port of Rotterdam, all having coffee at the World Hydrogen Summit 2025. The last day's optimism has been vented by major green hydrogen producers, technology suppliers, and a wide range of governments, led by the Dutch government and its counterparts from Oman,…

"With great power competition rising, the ocean floor, Arctic, and lunar surface are becoming the front lines of global security and economic progress — but they remain energy deserts," says Tyler Bernstein, the Chief Executive Officer of a venture-backed nuclear battery startup called Zeno Power. Zeno Power just received $50 million in Series B funding to continue its work to develop nuclear batteries for extreme environments. “With this round of funding, we’re on track to demonstrate full-scale systems in 2026 and deliver the…

Nigeria’s government is urging the oil companies operating in the country to collaborate to increase oil output in the producer that hasn’t been able to pump to its OPEC quota for years. Nigeria’s crude oil production averaged 1.4 million barrels per day (bpd) in the first quarter of the year, well below the 1.8 million bpd quota in OPEC, Ekperikpe Ekpo, Nigerian Minister of State for Gas, said at a local industry conference. “Production growth…hinges on optimising our existing resources and exploring new frontiers,”…

Nigeria’s government is urging the oil companies operating in the country to collaborate to increase oil output in the producer that hasn’t been able to pump to its OPEC quota for years. Nigeria’s crude oil production averaged 1.4 million barrels per day (bpd) in the first quarter of the year, well below the 1.8 million bpd quota in OPEC, Ekperikpe Ekpo, Nigerian Minister of State for Gas, said at a local industry conference. “Production growth…hinges on optimising our existing resources and exploring new frontiers,”…

The U.S. license allowing companies to operate in Venezuela’s oil industry will expire as planned on May 27, U.S. Secretary of State Marco Rubio said amid reports that the U.S. could extend the license to U.S. supermajor Chevron. “The pro-Maduro Biden oil license in Venezuela will expire as scheduled next Tuesday May 27th,” Rubio posted on his personal X account. Reports emerged earlier this week that the U.S. federal government would extend a sanction waiver allowing Chevron to keep doing business in Venezuela by another 60 days,…

Venture Global is on track to surpass Cheniere Energy to become the biggest U.S. LNG company by liquefaction capacity if regulators approve the CP2 export project, Reuters reports, citing LSEG and project data. Venture Global is urging the Federal Energy Regulatory Commission (FERC) to greenlight its third liquefaction plant, CP2 in Louisiana, by the middle of the year. The CP2 LNG facility will be located adjacent to Venture Global’s Calcasieu Pass LNG facility in Cameron Parish, Louisiana. CP2 LNG was initially proposed to be…

Venture Global is on track to surpass Cheniere Energy to become the biggest U.S. LNG company by liquefaction capacity if regulators approve the CP2 export project, Reuters reports, citing LSEG and project data. Venture Global is urging the Federal Energy Regulatory Commission (FERC) to greenlight its third liquefaction plant, CP2 in Louisiana, by the middle of the year. The CP2 LNG facility will be located adjacent to Venture Global’s Calcasieu Pass LNG facility in Cameron Parish, Louisiana. CP2 LNG was initially proposed to be…

A flurry of intense diplomacy over Russia’s war against Ukraine, centered around the first direct peace talks between Kyiv and Moscow in three years and a long phone call between US President Donald Trump and his Russian counterpart Vladimir Putin, ended earlier this week without a breakthrough. The main objective set out by Ukraine and the West, a 30-day cease-fire, was not achieved. Russian attacks continued during and after the talks, and Ukraine launched drone strikes on defense industry targets in Russia in the wake of the negotiations.…

France’s supermajor TotalEnergies is launching its biggest solar project cluster in Europe—five solar projects with a total installed capacity of 263 MW near Seville, Spain.  The solar field will produce 515 GWh per year of renewable electricity, equivalent to the consumption of over 150,000 Spanish households, and will avoid 245,000 tons of CO2 emissions per year, TotalEnergies said on Thursday.    Most of the electricity produced will be sold through long-term power purchase agreements (PPAs) and the rest will…

France’s supermajor TotalEnergies is launching its biggest solar project cluster in Europe—five solar projects with a total installed capacity of 263 MW near Seville, Spain.  The solar field will produce 515 GWh per year of renewable electricity, equivalent to the consumption of over 150,000 Spanish households, and will avoid 245,000 tons of CO2 emissions per year, TotalEnergies said on Thursday.    Most of the electricity produced will be sold through long-term power purchase agreements (PPAs) and the rest will…

Crude oil prices, which had been on the rise earlier this week, retreated partially following a report of an inventory build in the United States that traders apparently did not expect as well as uncertainty surrounding geopolitical developments in the Middle East. At the time of writing, Brent crude was trading at $64.82 per barrel and West Texas Intermediate was changing hands for $61.50 per barrel, both down from Wednesday’s close. The dip followed the U.S. Energy Information Administration’s latest weekly inventory report, released…