Oil explorers need to raise drilling budgets by 54% to more than half a trillion dollars to forestall a significant supply deficit in the next few years, according to Moody’s Investors Service Inc. SourceContinue Reading
The UK won a challenge over its decision to grant BP Plc a North Sea oil permit as judges pointed to the need for the country to have diverse sources of fuel as the current energy crisis drives prices for power ever higher. SourceContinue Reading
Oil rebounded after the U.S. Energy Department said it has no plans “at this time” to tap into the nation’s oil reserves to help quell rising fuel prices. SourceContinue Reading
Canadian oil shipments to the U.S. jumped to the highest volume since the start of the year thanks in part to the startup of a long-delayed Canadian pipeline. SourceContinue Reading
With winter fast approaching and a stunning energy price surge pummeling Europe, Russian President Vladimir Putin chose an opportune moment to use his country’s leverage as an oil and gas superpower. SourceContinue Reading
U.S. shale oil production will expand at a “modest rate” over the next 18 months even as prices touch multiyear highs, leaving OPEC in a powerful position as the world cries out for more barrels. SourceContinue Reading
Oil declined by the most in two weeks in the wake of growing U.S. inventories and after Russia signaled it is ready to help ease a global energy crisis. SourceContinue Reading
Low-carbon hydraulic fracturing is gaining traction across the U.S. But since it still extracts the very oil and gas that fossil-fuel critics want the world to stop consuming altogether, not everyone’s convinced. SourceContinue Reading
The U.S. Energy Information Administration projects that, absent significant changes in policy or technology, world energy consumption will grow by nearly 50% between 2020 and 2050. SourceContinue Reading
