Syria is undergoing countrywide reconstruction after more than a decade of conflict, which caused extensive infrastructure damage and led to millions of people being displaced. As Syrians rebuild their lives, the government has big plans for economic diversification and growth to support long-term recovery. Thanks to its favourable geographic position, this includes the development of a strong energy sector that could help eventually establish Syria as a regional hub. Syria is now led by President Ahmed al-Sharaa, who formed a transitional government…

A geothermal startup aiming to source energy directly from undersea volcanoes just hit a major milestone that could bring round-the-clock clean energy to cities on the northwest coast of the United States and serve as a critical proof of concept for other regions, with particular relevance for the other 14 countries situated along the Pacific Ring of Fire.  Seattle-based energy startup Endurance Energy just announced that it successfully created net-positive energy from its underwater geothermal plant in a world first. The company successfully…

United States President Donald Trump has repeatedly targeted offshore wind since coming into office last year, as he strives to expand the country’s fossil fuel sector and shift the focus away from renewable energy. Trump has sought to halt the development of several offshore wind projects and has even resorted to paying companies to relinquish their leases on areas off the U.S. coast to instead invest in oil and gas projects. Now, Trump is looking to rescind approval for Connecticut’s first offshore wind project, Revolution Wind, as…

On October 9, hours after a phone call between President Trump and President Putin, the Treasury Department issued a six-month waiver allowing Russian diesel to be sold on the global market. The stated aim is to bring down fuel prices before the November 3 midterms. But I believe the deal is more consequential than that. It fits a larger strategy: for the United States to control as much of the world’s energy supply as possible, while denying it to its chief rival, China. A pattern, not a one-off The strategy began in Venezuela. Since US…

The United States is dipping into its Strategic Petroleum Reserve again, this time to keep crude flowing to a Louisiana refinery while oil prices climb above $117 per barrel. The reserve, meanwhile, is already at its lowest level since 1982. The Department of Energy on Friday authorized an emergency exchange of up to 400,000 barrels to Phillips 66's Lake Charles refinery, citing a temporary disruption to crude deliveries. The oil will come from the reserve's West Hackberry site in Louisiana and is available for immediate delivery. Lake Charles…

The United States is dipping into its Strategic Petroleum Reserve again, this time to keep crude flowing to a Louisiana refinery while oil prices climb above $117 per barrel. The reserve, meanwhile, is already at its lowest level since 1982. The Department of Energy on Friday authorized an emergency exchange of up to 400,000 barrels to Phillips 66's Lake Charles refinery, citing a temporary disruption to crude deliveries. The oil will come from the reserve's West Hackberry site in Louisiana and is available for immediate delivery. Lake Charles…

The United States and Canada are locked in an energy trade war – sort of. Although United States President Donald Trump and Canadian Prime Minister Mark Carney have lobbed plenty of blisteringly high tariffs, not to mention threats and insults, at each other over the course of their respective tenures, they have not touched one very important commodity – oil and gas. This is because the nations are simply too dependent on each other to sever the ties between their respective fossil fuel empires, making true independence a purely pyrrhic…

The United States’ National Aeronautics and Space Administration (NASA) has developed a revolutionary new battery that could power the country’s return to the moon while potentially also revolutionizing the way that we power electric vehicles here on Earth. The new technology can function at extremely cold temperatures, opening new possibilities for powering lunar rovers and tools, and could eventually make batteries for terrestrial applications safer, more versatile, and more efficient.   “The technology could eventually…

Oil traders sold futures equivalent to at least 6 million barrels of crude in just two minutes on March 23, shortly before President Donald Trump backed away from threats to strike Iranian power plants. Now, the federal regulator overseeing those trades says it has been looking into the activity. Commodity Futures Trading Commission Chairman Michael Selig said Friday that the agency's enforcement division has been examining oil trading during the Iran war, including the unusual surge preceding Trump's announcement. "Our enforcement division has…

The total number of active drilling rigs for oil and gas in the United States remained unchanged for the second week in a row this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US staying at 603, up 53 from this same time last year. The number of active oil rigs rose by 1, to 460 during the latest reporting period, according to the data. This is 40 above this same time last year. The number of gas rigs fell by 1 to 132, which is 11 more than this time last year. Miscellaneous rigs stayed the…

Brent crude nears $120 as escalating Saudi-Houthi tensions fuel another weekly oil price rally, putting fresh pressure on Trump. Friday, October 23, 2026 The slow creep of oil prices towards the $120 per barrel mark is a nightmarish scenario for US President Trump, even though there has been little fundamental change in the crude oil markets. A slight drop in freight rates and a ubiquitous flattening of backwardated curves lowered differentials of most grades globally, offsetting some of the pressures coming from higher crude benchmarks. Be that…

US officials publicly accused Russia of threatening a Finnish-operated commercial satellite that provides imagery and intelligence to Ukraine and other nations, calling the move "deliberately reckless." In response to the accusations, made during a United Nations debate on October 21, Russia broadly described US claims as "absurd" and accused Washington of its own "aggressive military space ambitions." The back-and-forth came days after a Russian military satellite known as Kosmos-2612 moved "dangerously" near to ICEYE-X36, a satellite registered…

In contrast with the international benchmark futures prices, the prices of physical crudes from the Middle East have softened this week, as oil continues to flow out of the Persian Gulf in ship-to-ship transfers offshore Oman and producers offer competitive prices to Asian buyers. Some crude grades from Iraq and Oman have sunk into deep discounts to the physical Dubai benchmark. Iraq’s Basrah Medium, for example, was recently sold at a discount of $10 per barrel to the Dubai benchmark, compared to near parity to Dubai crude a month ago, traders…

In contrast with the international benchmark futures prices, the prices of physical crudes from the Middle East have softened this week, as oil continues to flow out of the Persian Gulf in ship-to-ship transfers offshore Oman and producers offer competitive prices to Asian buyers. Some crude grades from Iraq and Oman have sunk into deep discounts to the physical Dubai benchmark. Iraq’s Basrah Medium, for example, was recently sold at a discount of $10 per barrel to the Dubai benchmark, compared to near parity to Dubai crude a month ago, traders…

In contrast with the international benchmark futures prices, the prices of physical crudes from the Middle East have softened this week, as oil continues to flow out of the Persian Gulf in ship-to-ship transfers offshore Oman and producers offer competitive prices to Asian buyers. Some crude grades from Iraq and Oman have sunk into deep discounts to the physical Dubai benchmark. Iraq’s Basrah Medium, for example, was recently sold at a discount of $10 per barrel to the Dubai benchmark, compared to near parity to Dubai crude a month ago, traders…

State explorer Oil India Limited (OIL) has found natural gas in a previously unexplored formation in the shallow Krishna-Godavari Basin, the Indian company said on Friday. OIL has made the discovery at the Godavari-1 appraisal well in the Matsyapuri formation in the Krishna-Godavari Basin off India’s east coast, recording a peak test flow of 200,000 standard cubic meters per day (SCMD). The company, however, did not reveal an estimate of the potential reserves it had encountered. OIL is now preparing to test the next zone in the basin for…

State explorer Oil India Limited (OIL) has found natural gas in a previously unexplored formation in the shallow Krishna-Godavari Basin, the Indian company said on Friday. OIL has made the discovery at the Godavari-1 appraisal well in the Matsyapuri formation in the Krishna-Godavari Basin off India’s east coast, recording a peak test flow of 200,000 standard cubic meters per day (SCMD). The company, however, did not reveal an estimate of the potential reserves it had encountered. OIL is now preparing to test the next zone in the basin for…

State explorer Oil India Limited (OIL) has found natural gas in a previously unexplored formation in the shallow Krishna-Godavari Basin, the Indian company said on Friday. OIL has made the discovery at the Godavari-1 appraisal well in the Matsyapuri formation in the Krishna-Godavari Basin off India’s east coast, recording a peak test flow of 200,000 standard cubic meters per day (SCMD). The company, however, did not reveal an estimate of the potential reserves it had encountered. OIL is now preparing to test the next zone in the basin for…

State explorer Oil India Limited (OIL) has found natural gas in a previously unexplored formation in the shallow Krishna-Godavari Basin, the Indian company said on Friday. OIL has made the discovery at the Godavari-1 appraisal well in the Matsyapuri formation in the Krishna-Godavari Basin off India’s east coast, recording a peak test flow of 200,000 standard cubic meters per day (SCMD). The company, however, did not reveal an estimate of the potential reserves it had encountered. OIL is now preparing to test the next zone in the basin for…

When Americans think about the price of oil, they usually focus on the number quoted every day in financial markets. If Brent crude is trading above $100 a barrel or West Texas Intermediate is near $100, those numbers become shorthand for whether oil is expensive or cheap. But that market price is only part of what ultimately determines the cost of getting crude oil to a refinery. But transportation has become a cost that has become impossible to ignore. Reuters recently reported that shipping roughly 2 million barrels of crude from the United…