EnergyWatch

Oil & Gas

Oil dips on economic slowdown concerns

Oil abandons the progress it made since Russia invaded Ukraine, reaching the lowest level in more than six months earlier this week before regaining some of what was lost.

US IRA bill compromises leave sour taste with activists

Now signed by the US president and thus fully formalized, the watered-down version of Biden’s climate campaign bill – full of compromises to get conservative Democrats on aboard and thus attracting critique from many observers – nonetheless contains the nation’s most sweeping legislation supporting the green transition to date, thereby on account of sheer size reviving some hope of averting the worst outcome for global climate.

Oil prices reverse after six-month decline

Investors still await Iran’s response to the EU on renewing 2015’s nuclear deal. Oil supply may rise if Iran and the US accept an offer that would remove sanctions against Iranian oil exports.

Oil prices hold steady

An expected rebound of Chinese fuel product exports combined with the prospect of a revived nuclear accord between the US and Iran have the market forecasting more supply.

OPEC expects less oil consumption

The Organization of the Petroleum Exporting Countries eyes surplus on global oil markets and, unlike the International Energy Agency, expects consumption to decrease in the coming period.

Aker BP plans big oil project extensions

The Norwegian oil company has submitted a plan to the nation’s Ministry of Petroleum and Energy concerning two oil project extensions expected to entail 25 million barrels of oil equivalent.

Borr Drilling seeks capital in the US

Tor Olav Trøim’s Borr Drilling searches for capital in the US and plans to issue shares on the New York Stock Exchange, a company statement reveals.

Uniper hits Q2 net deficit of EUR 9.3bn

Just as expected, the German utility is hit hard by supply commitments forcing natural gas purchases on the wholesale market. State bailout keeps the business floating.

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