Photo: Freepik As summer travel season starts to heat up, drivers are in for a pleasant surprise: gas prices are at their lowest point since 2021. Crude oil prices have dropped nearly 25% since January, which is uncommon as the summer fuel blend usually comes with higher costs and increased demand during the peak travel…
Photo: freepik Spain is taking a significant step toward sustainable energy by shutting down all of its nuclear reactors, according to a Bloomberg report from April. The seven nuclear reactors the nation intends to shut down during the next 10 years provide 20% of its electricity. Wind turbines, massive batteries, and solar panels are being accelerated over the course…
Photo: Freepik June Nymex natural gas (NGM25) on Thursday closed down by -0.115 (-3.41%). June nat-gas prices tumbled on Thursday due to a larger-than-expected build-in of weekly inventories. Weekly EIA mat-gas inventories on Thursday rose by +120 bcf for the week ended May 16, above expectations of +119 bcf and well above the five-year average…
Photo: Freepik Solar equipment provider JCE Energy and offshore engineering firm Aquaterra Energy have successfully delivered a fully solar-powered, autonomous offshore platform for a supermajor’s Sea Swift production facility off the coast of Angola. The USD 2 million unmanned structure, built for efficiency, sustainability, and minimal environmental impact, is reportedly the first autonomous offshore platform…
Photo: Freepik By 2050, the aim is for Switzerland’s energy system to be decarbonized and no longer reliant on nuclear power. How this can be achieved and the costs of doing so are set out in a new report by a Swiss research consortium involving researchers from ETH Zurich, the universities of Geneva and Bern, EPFL, WSL,…
Photo: freepik A plastic bag ban in an Ohio municipality is at the heart of a battle between city and state lawyers. According to local outlet WOUB Public Media, officials in Athens, Ohio, have mounted a contentious legal debate with the state over a plastic bag ban enacted by the city in 2023. Some area retailers…
photo: freepik (The Center Square) – Reversing from job losses in March, the Texas oil and natural gas industry posted job gains in April, according to the latest employment data. The industry contributed to the state’s job gains, which again led the U.S. in job creation and broke multiple employment records last month, The Center…
Photo: freepik Strathcona Resources (OTCPK:STHRF) said late Thursday it plans to launch a takeover bid for Canadian oil and gas producing peer MEG Energy (OTCPK:MEGEF) that values the company at ~C$5.9B (US$4.25B), in a deal that would create the country’s fifth-largest oil producer. Strathcona (OTCPK:STHRF) offered to buy all MEG Energy’s (OTCPK:MEGEF) issued and outstanding common stock…
Photo: freepik Infrastructure investment firm I Squared, Enbridge (ENB) and MPLX (MPLX) said late Tuesday they agreed to acquire equity interests in the Matterhorn Express Pipeline from Devon Energy (NYSE:DVN) and private equity firm Ridgemont Equity Partners; deal terms were not disclosed but speculation had said a deal could value Matterhorn at more than $5B including debt.…
photo: freepik Diamondback Energy expects U.S. oil production to peak and then decline this year due to low prices. CEO Travis Stice warned that falling production threatens jobs, GDP growth, the nation’s trade balance and U.S. energy security U.S. onshore oil production has likely peaked and will start to decline due to the recent plunge…