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This post was originally published on this siteOct 29, 2021 (Bloomberg) For the past year, oil consuming countries have become increasingly anxious at crude’s resurgence: first to $50 a barrel, then $75 and now to more than $85. And when Vladimir Putin, one of the leaders of the OPEC+ cartel, warned that $100 a barrel was a […]

This post was originally published on this siteOct 29, 2021 (Bloomberg) Oil and gas companies would be forced to pay for excess methane leaking from wells, storage sites and pipelines under a draft of President Joe Biden’s climate-and-social-spending plan. Under the measure released Thursday, fees of as much as $1,500 per ton would be imposed on

This post was originally published on this siteWASHINGTON, Oct 29 (Reuters) – The U.S. Supreme Court on Friday agreed to hear a bid by states, including coal producer West Virginia, and industry groups to limit federal power to regulate carbon emissions from power plants under a landmark environmental law. The court’s decision to take up

This post was originally published on this siteLONDON, Oct 29 (Reuters) – Leaders of Europe’s biggest oil and gas companies said political leaders attending U.N. climate talks that start this week must make carbon markets more effective and that only governments can effectively curb fossil fuel demand. Oil majors will be among the big companies

This post was originally published on this siteHOUSTON, Oct 29 (Reuters) – Exxon Mobil Corp. and Chevron Corp. on Friday disclosed plans to expand drilling in the top U.S. shale basin after posting their biggest quarterly profits in years. Latecomers to the west Texas shale fields, both last year slashed shale production and cut drilling

This post was originally published on this siteU.S. natural gas futures fell more than 3% to a one-week low on Friday on rising output in the United States and another big drop in global gas prices after Russia said it would send more fuel to Europe for the winter heating season. That U.S. decline puts

This post was originally published on this siteA natural gas flare on an oil well pad burns as the sun sets outside Watford City, North Dakota January 21, 2016. REUTERS/Andrew Cullen Summary Oil demand seen growing by 5-6 million bpd in 2021 Tight supply seen supporting prices in 2021 and early next year Analysts divided

This post was originally published on this siteSummary New coal plants to emit 28 bln tonnes carbon COP26 host wants agreement on ending coal use Asian governments say coal needed for economic growth Coal remains world’s leading power-generation fuel UDANGUDI, India/TOKYO, Oct 29 (Reuters) – On the coastline near India’s southern tip, workers toil on

This post was originally published on this siteOct 29, 2021 (Bloomberg) OPEC+ technical experts downgraded their expectations for how tight global oil markets will be this quarter, a week before ministers meet to decide production policy. The global oil-supply deficit will be just 300,000 barrels a day on average in the fourth quarter, the coalition’s Joint

This post was originally published on this siteOct 29, 2021 (Bloomberg) This year’s hurricane season started out as one of the most prolific in the modern era. Then suddenly, in October, the storms stopped. As of Friday, the Atlantic hasn’t produced a single new tropical storm in a month. Such a late-season pause has only occurred