Oil climbed after more sanctions were unleashed to isolate Russia, while the U.S. and its allies consider releasing about 60 million barrels of crude from emergency stockpiles to quell supply fears. West Texas Intermediate futures in New York closed up above $95 a barrel on Monday. Prices soared earlier in the session in response to
Month: February 2022
In this article @CL.1 @LCO.1 An oil pumping jack, also known as a “nodding donkey”, in an oilfield near Dyurtyuli, in the Republic of Bashkortostan, Russia, on Thursday, Nov. 19, 2020. Andrey Rudakov | Bloomberg | Getty Images Oil prices jumped Sunday evening after the U.S. and Western allies imposed sanctions on specific Russian banks,
By Monica Pappas Posted on February 27, 2022 Rocket Lab, a California-based aerospace company, recently announced the completion of a second launch pad at its primary New Zealand launch facilities. In a last-minute change, Pad B (LC-1B), whose completion was announced on February 23rd, is scheduled to host both its first mission and Rocket Lab’s
In this article BP.-GB The Kremlin is reflected in the polished company plate of the state-controlled Russian oil giant Rosneft at the entrance of the headquarters in Moscow, Dmitry Kostyukov | AFP | Getty Images British energy giant BP announced Sunday it was offloading its 19.75% stake in Rosneft, a Russian-controlled oil company. BP CEO
The Biden administration won’t sanction Russian crude oil because that would harm U.S. consumers and not Vladimir Putin, a U.S. State Department official said Friday. “The sanctions will not target the oil flows as we go forward,” Amos Hochstein, the State Department’s senior energy security adviser, said in an interview on Bloomberg Television. The remarks
A map shows the course of the Nord Stream 2 gas pipeline from Russia to Germany on the exterior of an informational booth close to the receiving station for Nord Stream 2 on February 02, 2022 near Lubmin, Germany. Sean Gallup | Getty Images Europeans have been suffering under painfully high energy prices in the
The first U.S. oil well was drilled in Pennsylvania more than 150 years ago. Millions more followed, dotting the country from Southern California to Texas, Oklahoma and Appalachia. But those wells don’t last forever. In fact, a well only produces a significant quantity of natural gas for between 20 to 40 years. After that, the
By Joey Klender Posted on February 25, 2022 Tesla has announced that it will transition the Model S sedan and Model X SUV to Pure Vision, officially committing to a camera-based approach for its Autopilot and Full Self-Driving suites. In May 2021, Tesla announced that all Model 3 and Model Y vehicles delivered from that
Listen to a recap of the top stories of the day from Electrek. Quick Charge is available now on Apple Podcasts, Spotify, TuneIn and our RSS feed for Overcast and other podcast players. New episodes of Quick Charge are recorded Monday through Thursday and again on Saturday. Subscribe to our podcast in Apple Podcast or your favorite podcast player to guarantee
Russian army military vehicles are seen in Armyansk, Crimea, on February 25, 2022. Stringer | AFP | Getty Images Donations being funneled to the Ukrainian army in cryptocurrencies like bitcoin are in the millions of dollars, according to new data from blockchain analytics firm Elliptic. Research shows that $4.1 million in crypto has been raised
Here are some of Rigzone’s top stories during the last week, just in case you missed them… TotalEnergies Makes Significant New Oil Find TotalEnergies announced that it and APA Corporation had made a “significant” new oil and associated gas discovery at the Krabdagu-1 well in the central area of Block 58, offshore Suriname. Krabdagu-1 encountered
Offshore wind farm. davee hughes uk | Moment | Getty Images The federal government on Friday announced a record $4.37 billion sale of six offshore wind leases off the coasts of New York and New Jersey, moving forward the Biden administration’s goal to transition from fossil fuels to renewable energy sources. The auction by the
Rosneft Board Chairman Igor Sechin and Russia’s President Vladimir Putin visit the Konevsky Monastery on Konevets Island on Lake Ladoga. Alexei Nikolsky | Russian Presidential Press and Information Office | Tass | Getty Images A former KGB leader, a diamond mine executive and a deputy prime minister — these are just some of the roles
By Joey Klender Posted on February 25, 2022 Tesla’s (NASDAQ: TSLA) plans to expand its production capacity, along with other factors like surging oil prices that could sway consumers to electric vehicles, have contributed to Daiwa Securities analysts upgrading their outlook on the automaker’s stock. Daiwa analyst Jairam Nathan said Tesla is “best positioned” to
Daniel Acker | Bloomberg | Getty Images Drivers may need to prepare for more potential pain at the pump. The national average price of a gallon of regular unleaded gas has reached $3.59, up 33 cents so far this year, according to GasBuddy data. With ongoing uncertainty over how oil supplies could be affected by
Oil extended its retreat from a seven-year high after the U.S. reiterated its decision not to sanction Russian energy exports. Futures in New York closed below $92 a barrel on Friday after falling from highs of $100 the previous day. The pullback came after the U.S. State Department said it won’t sanction Russian crude oil
A Ukrainian serviceman holds a rocket-propelled grenade (RPG) launcher at fighting positions outside the city of Kharkiv, Ukraine February 24, 2022. Maksim Levin | Reuters Ukraine’s central bank is cracking down on digital money transfers in one of the latest measures implemented in connection with a nationwide declaration of martial law. The National Bank of
An oil pumpjack (L) operates as another (R) stands idle in the Inglewood Oil Field on January 28, 2022 in Los Angeles, California. Mario Tama | Getty Images The Biden administration is delaying decisions on new oil and gas leases and permits after a Louisiana federal judge blocked officials from using higher cost estimates of
By Monica Pappas Posted on February 24, 2022 Relativity Space has announced that it will only launch the first version of its small Terran 1 rocket a handful of times before upgrading the vehicle in ways that will aid work on a much larger, fully reusable rocket. Relativity co-founder and CEO Tim Ellis revealed the
Listen to a recap of the top stories of the day from Electrek. Quick Charge is available now on Apple Podcasts, Spotify, TuneIn and our RSS feed for Overcast and other podcast players. New episodes of Quick Charge are recorded Monday through Thursday and again on Saturday. Subscribe to our podcast in Apple Podcast or your favorite podcast player to guarantee
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