In this article @CL.1 @LCO.1 All eyes are on whether Saudi Arabia will raise crude production if Russia’s output significantly falls following European Union oil sanctions. Andrey Rudakov | Bloomberg | Getty Images Oil prices dropped more than 2% following a report that Saudi Arabia is prepared to raise crude production if Russia’s output significantly
Month: June 2022
The project initiated by Nordsol, Renewi, and Shell has hit a milestone with the first one million kilograms produced at the Netherlands’ first bio-LNG plant. The facility has enabled about four million kilometers (2.4 million miles) of sustainable transport with heavy-duty trucks. The initiators of the milestone mark the validation that sustainable heavy-duty road transport
By Eric Ralph Posted on June 1, 2022 The US military has awarded providers SpaceX and the United Launch Alliance (ULA) another eight launch contracts worth a total of $846 million that the companies will be tasked with completing over the next two or so years. The US Space Systems Command (SSC) announced the decision
The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria. Ramzi Boudina | Reuters OPEC+ is expected to stick to its current production agreement for now, but behind the scenes the oil producing nations could be planning for the day when Russia’s
Some members of the energy alliance OPEC+ are considering whether to suspend Russia from an oil production deal, The Wall Street Journal reported on Tuesday, citing unnamed OPEC delegates. This comes at a time when non-OPEC leader Russia, a major player in global energy markets, faces a barrage of Western sanctions and a partial oil ban from
Oil’s rally fizzled following a report that OPEC members are exploring the idea of exempting Russia from its oil-production deal, which could open the door for other producers to pump more oil. West Texas Intermediate futures in New York shed nearly all of its gains to settle under $115 after earlier rising almost $5. Exempting
By Eric Ralph Posted on May 31, 2022 US Federal Aviation Administration says that its environmental review of SpaceX’s plan to conduct orbital Starship launches out of South Texas has been delayed for the fifth time in five months. However, despite the chronic delays and the FAA’s bizarre decision to announce a new delay every
It is the dawn of a new era for Genesis, at least on US soil. The Korean luxury marque has delivered its first GV60 BEV in California, which also happens to be the very first all-electric Genesis vehicle delivered in the entire country. With an entire blueprint for an all-electric future, more EV deliveries from
European Union leaders reached an agreement this week to ban the majority of Russian crude oil and petroleum product imports, but nations were already shunning the country’s oil, altering global flows for the commodity that powers the world. Russian oil exports had already been hurt by some EU members acting preemptively in anticipation of potential
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