OilPrice
MAY 6, 2025
Oil prices staged a robust comeback on Tuesday, clawing back ground lost after OPECs surprise weekend announcement to boost production quotas by more than expected. WTI surged more than 4% on the day, trading above $59, while Brent gained 3.7%, reaching well above $62. The bounce comes after a bruising April that saw prices crater under the weight of U.S. tariffs and OPEC+ confusion.
Energy Voice
MAY 6, 2025
Geg Quinn calls for a sensible debate on the UK's journey to net zero that avoids the 'extremist' views from both sides.
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OilPrice
MAY 6, 2025
Wall Street banks are racing this week to slash their oil price forecasts for 2025 and 2026 after OPEC+ threw another curveball at the market this weekend by vowing to continue raising production by more than initially planned. Commodity strategists and analysts from major U.S.
POWER Magazine
MAY 6, 2025
EDP Renewables North America (EDPR NA) has inaugurated the company's 200-MW Scarlet II Solar Energy Park, in Fresno County, California. Scarlet II follows EDPR NA's Scarlet I Solar Energy Parka 200-MW solar farm with and 40 MW/160 MWh of battery energy storage system (BESS)which achieved commercial operation in 2024. The post EDP Renewables Brings Second Phase of California Solar Farm Online appeared first on POWER Magazine.
OilPrice
MAY 6, 2025
U.S. utility giant Duke Energy (NYSE: DUK) reported on Tuesday consensus-beating earnings for the first quarter as higher rates and a colder winter boosted sales and demand for electricity and gas. North Carolina-based Duke Energy which serves 8.2 million electric utility customers in North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky booked adjusted earnings per share (EPS) of $1.76 for the first quarter of the year.
Energy Voice
MAY 6, 2025
I havent attended an All-Energy exhibition and conference since it moved to Glasgow from Aberdeen. Thats nothing to do with civic jealousy, but simply because its a pain in the neck getting there from here.
OilPrice
MAY 6, 2025
OPEC+ served two surprises to the oil trading world in a matter of weeks. First, it said it would bring back three times the amount of oil supply it planned to originally in May. Then, it said it would repeat the exercise in June. And then it emerged that Saudi Arabia is raising selling prices for Asia when it would have made more sense to cut them, on the face of it.
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OilPrice
MAY 6, 2025
Oil prices rallied aggressively on Tuesday morning, recovering from the OPEC+-induced drop that was sparked by the cartel's decision to unwind production cuts at a faster rate than previously planned. Despite the recovery, uncertainty remains in markets and more volatility is likely.- Oil majors have been surprisingly inert in reacting to oil prices declining by more than $10 per barrel since early April, preferring to wait out the resolution of the U.S.
Enverus
MAY 6, 2025
London, 6 th May 2025 Pexapark, the market benchmark for Power Purchase Agreement (PPA) pricing data, and a trusted provider of market intelligence and advisory services, has announced a new data integration with Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions. Pexaparks market-leading renewables pricing and intelligence is available through Enverus global platform expanding access to its trusted market-consensus data and reinforcing Pe
OilPrice
MAY 6, 2025
Marathon Petroleum (NYSE: MPC), the biggest U.S. refiner by volumes, on Tuesday reported a loss for the first quarter as weak refining margins continued to depress profits and high turnaround activity limited the upside from margins and sales revenues. Marathon Petroleum booked a net loss of $74 million, or $0.24 per diluted share, for the first quarter of 2025, compared with net income of $937 million, or $2.58 per diluted share, for the first quarter of 2024.
Oil & Gas 360º
MAY 6, 2025
(Oil & Gas 360) –Join us as we celebrate three decades of bringing together the energy industrys companies, investors, analysts, and industryleaders! Investors are encouraged to register for EnerCom Denver The Energy Investment Conference featuring a broad group of public and private energy companies at www.enercomdenver.com The 30 th annual EnerCom Denver The Energy Investment Conference to be held August 17-20, 2025, at the Westin Denver Downtown.
OilPrice
MAY 6, 2025
The recent oil price crash will surely hit Saudi Arabias state finances going forward, but the Kingdom already booked a hefty budget deficit for the first quarter, before oil prices dropped dramatically. During the first quarter of the year, the budget deficit of the worlds top crude oil exporter swelled to $15.6 billion (58.7 billion Saudi riyals), data from the Saudi Finance Ministry showed.
POWER Magazine
MAY 6, 2025
Enverus, an energy-dedicated, software-as-a-service company that leverages generative artificial intelligence across its solutions, has released its 2025 Interconnection Queue Outlook, a comprehensive collection of power generation and transmission projects that show requests to connect to the U.S. power grid. The post Enverus Releases 2025 Interconnection Queue Outlook appeared first on POWER Magazine.
OilPrice
MAY 6, 2025
Massive advances in Li-ion battery technology have been at the center of the global electrification drive, including the EV revolution. To wit, over the past decade, lithium-ion (Li-ion) battery cell costs have declined ~28% for every cumulative doubling of units produced, allowing rapid mainstream adoption.
Oil & Gas 360º
MAY 6, 2025
(Investing) –BRUSSELS -The European Commission will next month propose legal measures to phase out the EUs imports of all Russian gas and liquefied natural gas by the end of 2027, it said on Tuesday. Here are the key details: GAS AND LNG Russia was Europes top gas supplier before its 2022 full-scale invasion of Ukraine, providing around 45% of the European Unions gas.
OilPrice
MAY 6, 2025
Irans continued struggle with electricity shortages has led to the implementation of rolling blackouts in the capital, Tehran. Power cuts have become a fixture of both summer and winter months, but rolling blackouts this year have started earlier than usual despite the temperatures being relatively low. Government spokeswoman Fatemeh Mohajerani said during her weekly press conference on May 6 that the country was facing multiple imbalances, referring to rising demand for electricity, water, and
Enverus
MAY 6, 2025
AUSTIN, Texas (May 6, 2025) Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing its 2025 Interconnection Queue Outlook , a comprehensive collection of power generation and transmission projects that show requests to connect to the U.S. power grid. Leveraging its proprietary machine learning model, Enverus assigns a probability of success to every queued power plant project, enabling the analysis of trends and insights into port
OilPrice
MAY 6, 2025
Abu Dhabis state oil giant ADNOC is reportedly on track to secure unconditional EU antitrust approval for its 14.7 billion ($16.6 billion) acquisition of Germanys Covestro, sources told Reuters on Tuesday. The European Commission, expected to decide by May 12, sees no competition issues with the deal due to the lack of overlap between ADNOC and Covestros operations.
POWER Magazine
MAY 6, 2025
Abundance Energy, sonnen, and Energywell Technology Licensing on May 6 said they will work together on development of behind-the-meter, battery-enabled VPPs. The program is designed to support retail energy customers of Texas-based Abundance Energy, while also providing support for the state's power grid. The post Sonnen, Energy Groups Join for Major Texas VPP Project appeared first on POWER Magazine.
OilPrice
MAY 6, 2025
The OPEC price war has made landfall in the US.
EnergyTrend
MAY 6, 2025
A Drop in PV Module Orders is Anticipated in May; Price Drops Spread Across Midstream and Upstream Segments PolysiliconLatestPrices(asofApril30,fromTrendForce'sNewEnergyResearchCenter):ThemainstreamconcludedpriceformonorechargepolysiliconisRMB39.5/KG,whilemo.
OilPrice
MAY 6, 2025
The United Arab Emirates (UAE) holds much greater geopolitical significance to both China and the U.S. than might be inferred from either its size or its current crude oil production of just under 3 million barrels per day (bpd). This is why any major new deals signed with it by either side are so thoroughly scrutinised by the other, and why both continue to leverage whatever economic means they can to attempt to increase their influence across the collection of emirates.
EnergyTrend
MAY 6, 2025
1GWh! Overseas Customer Signs a Large Sodium Battery Order with PRET OnMay6th,accordingtotheannouncementreleasedbyPRET,GuangdongHighstarNaTechnologyCo.,Ltd.,aholdingsubsidiaryofShanghaiPRETCompositesCo.,Ltd.,recentlyrec.
OilPrice
MAY 6, 2025
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell 4.49 million barrels in the week ending May 2, after analysts had estimated a 2.5-million-barrel draw. The API reported a 3.76 million barrel inventory hike in the prior week. So far this year, crude oil inventories are up more than 18 million barrels, according to Oilprice calculations of API data.
EnergyTrend
MAY 6, 2025
Nippon Energy to commission 1GW HJT PV module plant in Dubai Recently,thereareforeignmediareportsthattheJapanesePVEPCcompanyNipponEnergyannouncedplanstoestablishaPVmodulemanufacturingplantinDubaiwithanannualcapa.
OilPrice
MAY 6, 2025
The House Natural Resources Committee is preparing to launch an overhaul of oil and gas drilling legislation in a bid to boost drilling activity on federal lands via a surge in lease sales in key producing regions. The changes are set to become part of the budget reconciliation bill to be discussed at a hearing later today. After the hearing, the bill will move on to the Senate, where Republicans have a majority.
EnergyTrend
MAY 6, 2025
Jinko Solar Targets 100GW Module Shipments in 2025, with Nearly 70% of Orders Already Secured AccordingtoWechatOfficialAccount@PVTechCN,JinkoSolarstatedatitsearningsconferencecallthatthecompany'smoduleshipmentsinthefirstquarterof2025were17.
OilPrice
MAY 6, 2025
Kazakhstans national oil company KazMunayGas (KMG) says it is fully prepared to navigate recent oil price volatility, even as global benchmarks hit new lows and concerns mount over falling state revenues. Despite the slump, driven largely by OPEC+ plans to increase output, KMG Deputy Chairman Aset Magauov stated that the company remains confident in its resilience.
EnergyTrend
MAY 6, 2025
10GWh! Chinese Enterprise Starts Operation of Battery Factory in Malaysia! AccordingtoWechatOfficialAccount@bjx-battery,thisprojectmarksTianpengPower'sfirstofficiallyoperationaloverseasfactory.LocatedintheBandarIndahIndustria.
OilPrice
MAY 6, 2025
The government is under increasing pressure from its backbenchers to reverse winter fuel cuts amid warnings that even a U-turn would not go far enough to restore trust with voters. There istalkthat senior government officials are reconsidering governments earlier decision to restrict winter fuel payments to pensioners who qualify for income-related benefits, which would block 9 million from claiming the allowance.
BOE Report
MAY 6, 2025
CALGARY, AB, May 6, 2025 /CNW/ – Whitecap Resources Inc. (“Whitecap“) (TSX: WCP) and Veren Inc. (“Veren“) (TSX: VRN) (NYSE: VRN) are pleased to announce that the shareholders of each company have voted in favour of the previously announced business combination between Whitecap and Veren (the “Business Combination“).
OilPrice
MAY 6, 2025
1m ago 12:19pm CST China Halted All U.S. Crude Oil Imports China halted all US crude oil purchases in March as trade tensions with Washington escalated, raising concerns over demand for American shale. This marked the first month without Chinese imports since August 2023 and only the second time since March 2020. In February, China had bought 149,000 barrels per day, according to US Census data.
BOE Report
MAY 6, 2025
CALGARY – Shareholders in oil and gas producer Veren Inc. have approved a $15-billion deal to join forces with Whitecap Resources Inc. Veren did not immediately provide a breakdown of how many votes were cast in favour of the deal during a virtual shareholder meeting that was completed in about five minutes.
OilPrice
MAY 6, 2025
OPECs second-largest producer, Iraq, exported crude oil and petroleum products worth $29.58 billion to India last year, trade data reported by Shafaq News showed on Tuesday. Iraq, which was Indias top crude oil supplier before 2022 and the flow of cheap Russian oil, unwanted or banned in the West, held in 2024 a market share of about 20% of all crude oil imports into India, the worlds third-largest crude importer.
Oil & Gas Magazine
MAY 6, 2025
La ASEA exigi a Pemex informar causas, volumen y medidas de remediacin tras un derrame de hidrocarburos en la Terminal Martima de Dos Bocas, Tabasco. La Agencia de Seguridad, Energa y Ambiente (ASEA), rgano regulador dependiente de la Secretara de Medio Ambiente y Recursos Naturales (SEMARNAT), inform que realizar una supervisin a Petrleos Mexicanos (Pemex) por el reciente derrame de hidrocarburos en la Terminal Martima de Dos Bocas, en Tabasco.
OilPrice
MAY 6, 2025
Chinas streak of weak monthly coal imports continues, dragging thermal coal prices in Asia to a four-year low. Record-high domestic coal production and weaker coal-fired power generation in China have resulted in declining demand for thermal coal imports into the worlds biggest coal market. In April, Chinas coal imports fell to 22.72 million metric tons, from 23.84 million tons imported in March, per data from commodity analysts Kpler cited by Reuters columnist Clyde Russell.
CNBC: Energy
MAY 6, 2025
U.S. crude oil prices rose more than 4% to $59.56 per barrel Tuesday as domestic production is expected to decline.
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