Top 5 Oil Producing Countries

Top 5 Oil Producing Countries

No 1 The United States The U.S. is now producing more than 13 million barrels per day (bpd) of crude oil—more than any country ever—and is headed to a continued increase in the short and medium term. U.S. crude oil...
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Nippon Steel To Buy US Steel For $14 Billion

Nippon Steel To Buy US Steel For $14 Billion

This $14.9 billion acquisition represents a significant step in Nippon Steel’s plan to expand its U.S. assets, and pushed the Japanese company from the fourth to the third-largest global steel producer. In total, it will now account for roughly 86...
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Russia to launch year-round LNG shipments via Arctic route

Russia to launch year-round LNG shipments via Arctic route

Moscow plans to start year-round LNG deliveries to Asia via Russia’s Arctic waterways, Sergey Zybko, head of the Northern Sea Route (NSR) operator, announced this week. Speaking during the “Arctic: present and future” forum, Zybko said the launch of the....
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The COO and CFO of wind turbine company Ørsted have resigned

The COO and CFO of wind turbine company Ørsted have resigned

The inertia of C-class management thinking is a well-known phenomenon. Two C-class managers of Danish multinational wind turbine company Ørsted, CFO Daniel Lerup and COO Richard Hunter, are stepping down from their positions. The officially communicated reaso...
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Germany To Bail Out Siemens’ Desperate Wind Turbine Division

Germany To Bail Out Siemens’ Desperate Wind Turbine Division

As the top analyst here at the PressClub World predicted a few years ago, the Siemens wind turbine division is now a ‘hot potato’. Siemens Energy, facing significant losses, is in talks for up to 15 billion euros in guarantees,...
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JinkoSolar’s new PV panel: Conversion Efficiency of 26.89%

JinkoSolar’s new PV panel: Conversion Efficiency of 26.89%

JinkoSolar Holding Co., Ltd. (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that it has achieved a major technical breakthrough for its 182 mm high-efficiency N-type monocrystalline silicon solar ce...
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BP Q3 profit misses forecast

BP Q3 profit misses forecast

BP third-quarter earnings of $3.3 billion, missing analysts’ forecasts due to weak gas trading results while the firm wrote down a large portion of a U.S. offshore wind project. The results fell well short of expectations for a $4 billion...
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Serbian PM: EU paying extra to hide purchases of Russian oil

Serbian PM: EU paying extra to hide purchases of Russian oil

The bloc is buying Moscow’s crude via intermediaries at double the price, Serbian Prime Minister Radovan Viskovic told RT. Oil from Russia is still entering the EU market despite Western sanctions, but it now flows through intermediaries at a much...
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IEA: Global Oil Demand Will Peak Before 2030

IEA: Global Oil Demand Will Peak Before 2030

Demand for oil, natural gas, and coal is nearing its peak, the head of the International Energy Agency said in an op-ed for the Financial Times, citing IEA research. Noting that demand for oil and gas has been growing despite forecasts of...
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OPEC’s oil production fell to 27.31 million BPD

OPEC’s oil production fell to 27.31 million BPD

OPEC’s oil production fell to 27.31 million barrels per day in July, an 836,000 bpd decline from a month earlier. The decline was largely a result of Saudi Arabia delivering on its 1 million barrels per day production cut. Libya...
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Germany’s Uniper To Invest $8.8 Billion In Green Energy

Germany’s Uniper To Invest $8.8 Billion In Green Energy

German energy giant Uniper, which was bailed out by the government last year, pledged on Tuesday to invest more than $8.8 billion (8 billion euros) in green energy by 2030 as it looks to become a greener energy provider faster than previously...
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Photovoltaic Panels Flooded European Warehouses

Photovoltaic Panels Flooded European Warehouses

Around €7 billion worth of Chinese-manufactured solar panels are currently stored in Europe, which could power approximately 20 million homes per year. Despite this surplus, imports continue to increase, with the first few months of 2023 showing higher impor...
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Photovoltaic Grade Polysilicon Prices Crash

Photovoltaic Grade Polysilicon Prices Crash

Solar grade polysilicon prices crash amid global supply glut. Spot prices for the main ingredient in photovoltaic panels are crashing considerably and fast, fueled by a glut in China’s photovoltaic panel supply chain. Some companies manufacturing polysil...
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Mexico To Buy 13 Power Plants From Spanish Energy Major

Mexico To Buy 13 Power Plants From Spanish Energy Major

Mexico is set to buy 13 power plants currently operated by Spain’s utility major Iberdrola in a deal worth some $6 billion. The purchase, Reuters reports, is part of the Lopez Obrador government’s ambition to return control over Mexico’s electricity...
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Massive Downward Reductions In US Shale Oil Output

Massive Downward Reductions In US Shale Oil Output

EIA issued the March DPR: A massive downward reductions in US shale oil output.  In the March report, shale oil output from the key plays is reduced by 443,000 bpd for January and 250,000 bpd for February.  If we go...
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