Sun.Apr 06, 2025

article thumbnail

Solar Panel Supply Chains Face Human Rights Concerns

OilPrice

Many countries worldwide rely heavily on China for the supply of their solar panels, as the worlds biggest producer of the equipment, contributing 77.8 percent of global production. Recently, there have been rising concerns over potential slavery in the supply chain due to the poor conditions faced by many Chinese workers in the industry.

article thumbnail

Complete Shutdown of Coal-Fired Power,Europe's Solar Market Sees New Changes

EnergyTrend

Complete Shutdown of Coal-Fired PowerEurope's Solar Market Sees New Changes Justrecently,Finlandannouncedasignificantdevelopmentinitsenergysector.OnApril1st,theFinnishgovernmentdeclaredthatFinlandwouldcompletelyceaseusingcoalf.

Shutdown 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Myanmar Earthquake and Tariffs Shake Rare Earths Industry

OilPrice

The Rare Earths MMI (Monthly Metals Index) moved sideways, edging up by a slight 1.82%. The global rare earth market has taken a significant hit lately, thanks to a combination of natural disasters and big geopolitical moves. A strong earthquake in Myanmar and the recent wave of U.S. tariffs have thrown this somewhat delicate industry into even more uncertainty.

article thumbnail

Xinjiang: 3GW PV module project signed

EnergyTrend

Xinjiang: 3GW PV module project signed AccordingtoOfficialAccount@DNE,,accordingtotheofficialmicrobloggingnewsofQingdianGrouponApril3,onMarch28,atthesigningactivityofmajorinvestmentprojects.

130
130
article thumbnail

OPEC+ Confirms Iraq Oil Output Increase

Iraq Business News: Oil & Gas

By John Lee. Eight key members of the OPEC+ alliance , including Iraq, have agreed to increase production starting in May 2025, citing healthier global market fundamentals and a positive outlook. At a virtual meeting held on 3 April 2025, the countries reviewed market conditions and confirmed they would implement a 411,000 barrels per day (bpd) production increase in May.

Oil 104
article thumbnail

End of Installation Rush Approaching, Turning Point in Supply Chain Prices Nearing

EnergyTrend

End of Installation Rush Approaching, Turning Point in Supply Chain Prices Nearing PolysiliconThemainstreamconcludedpriceformonorechargepolysiliconisRMB41/KG,whilemonodensepolysiliconispricedatRMB40/KGandN-typegranularpolysiliconiscu.

article thumbnail

Saudis Slash Oil Prices to Asia After Surprise Output Hike

Rigzone

Aramco will lower Arab Light crude to its biggest buyers in Asia by $2.30 a barrel for May.

Barrel 89

More Trending

article thumbnail

Mentor Capital Increases Permian Royalty Stakes

Rigzone

Mentor acquired eight new royalty interest lots.

Royalty 67
article thumbnail

DOE Tags 16 Federal Sites for AI Data Centers

Energy Central

DOE Tags 16 Federal Sites for AI Data Centers EDITORIAL: DOE’s Data Center RFI and DOGE Firings of Agency Staff Don’t Mix CNSC Issues Construction License for BWRX300 at OPG’s Darlington Site NANO Nuclear Takes Over Ultra Safe Project at University of Illinois UK Government Invests £20 Million In ‘Starmaker One’ to Accelerate Nuclear Fusion.

article thumbnail

Stonepeak to acquire 40% stake in Woodside Energy’s Louisiana LNG project

BOE Report

U.S.-based investment firm Stonepeak will acquire a 40% stake in Woodside Energy’s Louisiana LNG project and contribute $5.7 billion in capital expenditures, the Australian energy company said on Monday. Under the partnership, Stonepeak, which manages about $72 billion in assets, will contribute $5.

article thumbnail

Badawi Highlights Egypt’s Energy Hub Ambitions at Sonker Terminal

Egypt Oil & Gas

As part of his visit to the petroleum facilities at Ain Sokhna Port on the Red Sea coast, Minister of Petroleum and Mineral Resources, Karim Badawi, visited Sonker Bulk Liquids Terminal (SBLT): Basin-3, Sokhna Port. The terminal was established as one of Egypt’s most important strategic hubs on the RedSea coast, alongside SUMED facilities for receiving, exchanging, and storing petroleum products and imported liquified natural gas (LNG), and pumping it back into the national grid after rega

article thumbnail

Goldman Sachs lowers 2026 oil price forecasts again

BOE Report

Goldman Sachs revised down its annual average price forecasts again for Brent and WTI crude in 2026, citing increased recession risks and the possibility of higher-than-expected OPEC+ supply. In a note dated April 6, the bank cut its 2026 average price forecast by $4 for Brent to $58 a barrel and WTI to $55.

Barrel 57
article thumbnail

Egypt Petroleum Minister Tours Key Sokhna Port Energy Infrastructure

Egypt Oil & Gas

Minister of Petroleum and Mineral Resources, Karim Badawi, visited the infrastructure for receiving, and storing petroleum products and LNG at Sokhna Port, operated by Sumed and Sonker companies. The tour included visiting the facilities of receiving crude oil and petroleum products, the main control unit, and the new natural gas transferring projects to receive the imported gas at the port then pumping it into the national gas grid, contributing to covering the domestic consumption requirements

article thumbnail

Petrobras Completes Veterinary Center Required for Offshore License

Offshore Engineer

Petrobras has completed work on a veterinary center in the Amazon region that is required for it to obtain an environmental permit for an offshore drilling project

article thumbnail

H2 Reality Check

Energy Central

H2 Reality Check The impact of geopolitical shifts on energy security and global sustainability efforts. The EU's history of energy dependencies, exemplified by Germany's reliance on Russian gas, underscores the need for diversification and reduced reliance on single sources. Prioritizing hydrogen in sectors without viable alternatives while enhancing source diversification.

article thumbnail

Genel Energy to Pay $26.9m in Arbitration Costs to KRG

Iraq Business News: Oil & Gas

By John Lee. Genel Energy plc has announced that its subsidiary, Genel Energy Miran Bina Bawi Limited (GEMBBL) , has been ordered by the London Court of International Arbitration (LCIA) to pay the Kurdistan Regional Government (KRG) a total of $26.87 million in recoverable costs. The ruling follows a claim brought by the KRG in December 2021, with the Tribunal issuing its Final Award on Costs under the LCIA Rules and the Arbitration Act 1996.

Energy 45
article thumbnail

Trade War Just Crashed Crude. Demand Might Be Next

OilPrice

The reciprocal tariffs that the world has been holding its breath about are here, stock markets are reeling, and crude oil took a dive. The question now is whether tariffs will hurt oil demand for longer or whether the effect will be transitory, with prices rebounding before long. For now, a majority of observers appear to agree that the tariffs that U.S.

Crude Oil 338
article thumbnail

U.S. crude oil falls below $60 a barrel to lowest since 2021 on tariff-fueled recession fears

CNBC: Energy

U.S. oil prices dropped below $60 a barrel on Sunday as the global market sell-off on recession fears fueled by President Donald Trump's tariffs escalated.

Barrel 144
article thumbnail

Saudi Arabia Slashes Oil Prices Ahead of Output Boost

OilPrice

Saudi Arabia cut the official selling prices for its oil sharply ahead of a production boost set for next month. The sharpest cut was made for the price of oil sold in Asia, with flagship Arab Light set to be $2.30 per barrel cheaper in May, at a premium of $1.20 per barrel over the Dubai/Oman benchmark. This is the sharpest price cut in over two years, Reuters reported.

Oil 320
article thumbnail

Gulf bourses sink as recession worries sparked by US tariffs mount

BOE Report

Stock markets in the Gulf fell sharply on Sunday as U.S. President Donald Trump’s drastic trade tariffs and countermeasures from China stoked fears of a trade war and the prospect of a global recession. China’s finance ministry said on Friday it will impose additional 34% tariffs on all U.S.

Finance 97
article thumbnail

US Offshore Wind Projects Slow

Offshore Engineer

Energy firms have slowed construction of offshore wind farms in the U.S. for various reasons in recent years, including, most recently, opposition from U.S.

article thumbnail

Selling continues as Sunday futures open; crude oil breaks $60/bbl hitting fresh 4 year lows; one hedge fund CEO sees the opportunity for President Trump to walk back the immediacy of the new tariffs

BOE Report

Futures markets around the globe were under pressure again on Sunday as futures opened, continuing the trend seen since last Wednesday afternoon. WTI Crude oil broke to a new 4-year low below $60/bbl, sitting at $59.75/bbl at 5:35pm MST Sunday night before recovering back above $60/bbl.

BBL 67
article thumbnail

EV Battery Costs Set For Sharp Rise On Trump’s Tariffs

OilPrice

The U.S. stock market tanked for a second day running on Friday, with the S&P 500 falling -4.5% a day after U.S. President Donald Trump unveiled reciprocal tariffs, including a baseline 10% tariff applied on imports from all countries. The energy sector was one of the hardest hit by the tariffs, with the Energy Select Sector SPDR Fund (NYSEARCA:XLE) falling -7.4% on the day thanks to the ongoing oil price crash.

Barrel 285
article thumbnail

Wall St Week Ahead-Shell-shocked markets brace for more tariff tumult

BOE Report

Tariff-stunned markets face another week of potential tariff turmoil, with fallout from President Donald Trump’s sweeping import levies keeping investors on edge after the worst week for U.S. stocks since the onset of the coronavirus crisis five years ago.

80
article thumbnail

Despite Trump’s Crackdown, Venezuela Still Has Buyers

OilPrice

It is 3 April, so any country buying Venezuelan oil must face a 25% tariff on all its trade with the United States. That is according to President Donald Trumps executive order signed on 24 March. The White House has also ordered companies with sanctions waivers to quit Venezuela by 27 May, including Chevron, Repsol, and Maurel et Prom. But it looks like some traders are undaunted by the U.S. governments threats.

article thumbnail

Oil prices extend losses on fears global trade war could slow economy

BOE Report

Oil prices fell more than 3% on Monday, extending losses from the previous week, on growing concerns that a global trade war could slow the global economy and weaken oil demand, following China’s retaliation against U.S. President Donald Trump’s tariffs. Brent futures declined $2.1, or 3.2%, to $63.48 a barrel at 1027 GMT, while U.S.

Oil 70
article thumbnail

Tariff medicine’s crippling side effects

BOE Report

A look at the day ahead in European and global markets from Wayne Cole Another day, another rout in Asian markets as President Trump shows no sign of backing away from his tariff plans despite the bonfire of wealth engulfing equity markets.

62