The biggest refinery in the Midwest, BP’s Whiting facility, had multiple units offline on Friday, market sources told Reuters, quoting data from energy consultancy Wood Mackenzie.  The refinery was also actively flaring early on Friday, according to one of Reuters’ sources.  The Whiting, Indiana refinery “experienced a fire that was put out and was actively flaring with alarms heard in vicinity last night,” Patrick De Haan, head of petroleum analysis at GasBuddy, said on Friday.  The still unknown issue at…

Friedrich Merz has called for the creation of a pan-European stock exchange in a move that would help it compete with Asian and US counterparts and eclipse the liquidity offered on London’s ailing bourse. In an address to parliament in Berlin, the German Chancellor said European businesses need a “sufficiently broad and deep European capital market so they can finance themselves better and faster. “It is crucial for the future of our country and our countries in Europe that we fulfil these tasks with renewed vigour,” Merz…

India hasn’t requested refiners to cut imports of Russian crude oil and no cuts have been seen for the already placed nominations for loadings in November, Indian industry sources told Reuters on Friday, after the U.S. claimed refiners had stared to reduce Russian supply.  U.S.-Indian talks in Washington this week were productive and Indian refiners are already halving crude oil imports from Russia, a White House official told Reuters on Thursday. U.S. President Donald Trump said on Wednesday that India had agreed to cut imports…

India hasn’t requested refiners to cut imports of Russian crude oil and no cuts have been seen for the already placed nominations for loadings in November, Indian industry sources told Reuters on Friday, after the U.S. claimed refiners had stared to reduce Russian supply.  U.S.-Indian talks in Washington this week were productive and Indian refiners are already halving crude oil imports from Russia, a White House official told Reuters on Thursday. U.S. President Donald Trump said on Wednesday that India had agreed to cut imports…

US President Donald Trump and his Russian counterpart, Vladimir Putin, have agreed to meet in Budapest following a phone call held a day before Ukrainian President Volodymyr Zelenskyy is due to visit Washington. "We agreed that there will be a meeting of our High Level Advisors, next week... President Putin and I will then meet in an agreed upon location, Budapest, Hungary," Trump wrote on his Truth Social page on October 16. Trump added that the meeting in Budapest is "to see if we can bring this 'inglorious' War, between Russia and Ukraine, to…

Venture Global has written to its long-term contract partners in the Plaquemines LNG plant to assure them it will not sell LNG on the spot market before honoring these contracts, the Financial Times has reported, citing fears of contract breaches. Plaquemines clients fear a repeat of what Venture Global did with its first LNG plan, in Calcasieu Pass, where it delayed the official commissioning of the facility for years, while selling LNG produced there on the spot market. The move, made possible by a legal loophole that allowed Venture Global to…

Crude oil prices are set for another weekly decline today, after President Trump announced there were plans to meet with Russia’s Vladimir Putin in a couple of weeks to discuss an end to the war in the Ukraine. The hypothetical possibility of peace has ha traders prepare for a rebound in Russia oil exports, which would add to what most observers are calling a looming supply glut. This pressured prices further, after the IEA updated its glut prediction, now expecting the supply overhang to reach 2.4 million barrels daily in 2026, after adding…

After years of currency chaos and regulatory paralysis that drove oil majors out of Argentina, President Javier Milei has set out to remake the country into a regional energy powerhouse. His sweeping deregulation freed up oil exports, attracted foreign capital, and revived activity in Vaca Muerta, one of the world’s largest shale formations. Yet the path to energy independence remains fragile. Falling oil prices, rising costs, and unfinished infrastructure threaten to stall progress, while the peso’s stability now depends on unprecedented…

The U.S. nuclear sector has been on a tear over the past couple of years, fueled by the global energy crisis, the clean energy revolution, and the AI boom, even as global electricity demand soars. Meanwhile, the uranium market is experiencing a structural supply deficit, creating potential challenges for nuclear operators. Unlike many commodities, uranium trading usually involves small volumes with specialized participants, making the nuclear fuel susceptible to significant uranium market volatility. Governments across the globe are repositioning…

Since President Trump took office, several associations set up to advance the agenda of net-zero in the financial world have dissolved, wind and solar developers have pleaded for help to survive, and carmakers have quietly revised their plans for an electric future—not only in the U.S. Some, however, believe Trump’s presidency cannot stop the shift to alternative energy sources and emission-cutting. Many have, in fact, been saying that whatever happens in the United States, the rest of the world would remain firmly on the path to decarbonisation…

It is said that in times of great division, a common enemy can be a force for unification. And that common enemy has arrived, in the form of energy-sucking data centers and their wholesale attack on energy prices. As the artificial intelligence boom continues to pick up speed, massive data center projects are being greenlit left and right, and the communities expected to foot the bill for this expansion are starting to fight back — even if it means reaching across the aisle.  While political debates over data centers are not yet cropping…

Russia is grappling with fuel shortages and price hikes after a string of Ukrainian attacks on its oil refineries. To protect supplies in Russia, where long lines at gas stations have been reported in some regions, Moscow has banned or restricted the export of gasoline and diesel. The move has triggered fuel shortages and price rises in some of the former Soviet republics of Central Asia, which are heavily reliant on Russian energy. Tajikistan Among Hardest Hit Tajikistan, which imports almost all its fuel -- mostly from Russia, has been among…

This year’s International E-Waste Day, celebrated annually on October 14 to raise awareness about the growing problem of electronic waste and promote responsible e-waste management, focuses on the critical resources contained in e-waste. These days, as some of those materials have become a bargaining chip in geopolitics, it’s more important than ever to recover the valuable resources contained in unused or broken electronic products. According to the latest edition of the Global E-Waste Monitor – a flagship publication on the…

Saudi Arabia’s domestic oil consumption for power generation is showing early signs of structural decline, signaling steady progress toward its Vision 2030 goal of eliminating oil use from its electricity mix. After decades of burning crude and fuel oil to meet surging summer demand, new data indicates the Kingdom is finally beginning to curb this long-entrenched practice—thanks to rising gas output, rapid renewable deployment, and aggressive efficiency measures. According to data reported to OPEC and published by the Joint Organizations…

The latest tit-for-tat fees on port callings in the U.S.-China trade spat threaten to create additional vortexes in global oil flows. Shipowners and charterers are scrambling for clarity after China imposed this week a fee on U.S.-owned, operated, built, or flagged vessels, in retaliation for a similar U.S. move on Chinese ships. China-built ships are exempted from the new Chinese fee, but the impact on oil trade flows would still be significant, at least until owners and charterers find a way to move forward more smoothly in the choppy waters…

North America’s liquefied natural gas export capacity could more than double by 2029 as new terminals across the United States, Canada, and Mexico move toward completion, according to the U.S. Energy Information Administration (EIA). The agency’s latest forecast, reported by Reuters, projects a jump from roughly 14 billion cubic feet per day (bcf/d) in 2024 to more than 29 bcf/d by 2029. The EIA attributes the increase to seven large U.S. export terminals under construction, including Golden Pass LNG, Plaquemines LNG, and Driftwood…

North America’s liquefied natural gas export capacity could more than double by 2029 as new terminals across the United States, Canada, and Mexico move toward completion, according to the U.S. Energy Information Administration (EIA). The agency’s latest forecast, reported by Reuters, projects a jump from roughly 14 billion cubic feet per day (bcf/d) in 2024 to more than 29 bcf/d by 2029. The EIA attributes the increase to seven large U.S. export terminals under construction, including Golden Pass LNG, Plaquemines LNG, and Driftwood…

Crude oil inventories in the United States increased by 3.5 million barrels during the week ending October 10, after gaining 3.7 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Thursday. The increase brings commercial stockpiles to 423.8 million barrels according to government data, which is still 4% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which suggested that crude oil…

India’s energy regulator has opened an internal investigation after the Securities and Exchange Board of India (SEBI) accused several officials of insider trading related to power market reforms. The Central Electricity Regulatory Commission (CERC) confirmed Thursday that it has suspended three employees and set up a fact-finding committee following SEBI’s interim order earlier this week, according to Indian media.  The case centers on trading in shares of the Indian Energy Exchange (IEX), India’s dominant platform for spot…

India’s energy regulator has opened an internal investigation after the Securities and Exchange Board of India (SEBI) accused several officials of insider trading related to power market reforms. The Central Electricity Regulatory Commission (CERC) confirmed Thursday that it has suspended three employees and set up a fact-finding committee following SEBI’s interim order earlier this week, according to Indian media.  The case centers on trading in shares of the Indian Energy Exchange (IEX), India’s dominant platform for spot…