Rick Muncrief, CEO of Devon Energy Christopher Goodney/Bloomberg Text size Richard E. “Rick” Muncrief was a relatively under-the-radar executive at a small oil-and-gas explorer before the Covid pandem...
Tag: Energy
Bitcoin miner Iris Energy reports revenues down 27% in June
Iris Energy reported a mining revenue of $3,546,000 for the month of June — down roughly 27% from the previous month. The company’s average hash rate remained at the same level (1.165 exahash pe...
Germany Reopens Coal Plants Because Of Reduced Russian Energy
Topline Germany’s parliament on Friday agreed to reactivate retired coal power plants to generate electricity, decreasing their reliance on precarious Russian supplies, but potentially bringing the co...
Putin Says New Sanctions Would Be Catastrophic for Global Energy Markets
(Bloomberg) — Western nations made a mistake by imposing energy sanctions on Russia, and if they persist with further restrictions it will be a catastrophe for global markets, said President Vla...
Recession Risks To Supply, Short Energy Markets Are Overstated
An oil rig south of Taft, California extracts crude. (Photo by David McNew/Getty Images) Getty Images Commodities have taken a pounding in recent days on growing fears of a global recession and demand...
Buffett Bought More of Occidental. Here’s What Happened With HP, Citi, Coke.
Text size Warren Buffett has losses as well as wins on his record of stock picking. AFP via Getty Images Billionaire investor Warren Buffett disclosed that he has increased his stake in Occidental Pet...
Why Government’s Green Energy Obsession Will Finally Soon End
At a recent summit of the Group of Seven, the economically advanced democracies of the U.S., Japan, Germany, Britain, France, Italy and Canada pledged to move away more quickly from fossil fuels to al...
Berkshire Holds Over 18% of Occidental After Fresh Buys
Text size Berkshire CEO Warren Buffett likes Occidental and has been adding to the company’s stake since the holding was disclosed in early March. Paul Morigi/Getty Images for Fortune/Time Inc Berkshi...
Energy Inflation, Energy Security, And When Fossil Fuel Is Not Coming To A Dead End.
LNG import terminal in Rotterdam, Netherlands. dpa/picture alliance via Getty Images Energy inflation. Inflation in Consumer Price Index (CPI) reached 8.5% per year in May 2022, and is on everyone’s m...
EV Adoption And Clean Energy
The White House set the course for America to achieve net-zero greenhouse gas (GHG) emissions by 2050. Widespread electric vehicle (EV) adoption will play a starring role. The challenge: the United St...
Why crude released from U.S. oil reserves may have ended up being exported overseas
U.S. drivers had high hopes that the historic release of oil from the nation’s Strategic Petroleum Reserve would help ease triple-digit prices of crude oil and reduce gasoline prices at the pump, but ...
Congress’ Only PhD Physicist Talks Energy Policy And Why It Made Sense For The Obama Administration To Bet On Elon Musk And Tesla
Rep. Bill Foster, D-Ill., leaves the Capitol on Wednesday, May 18, 2022. (Bill Clark/CQ-Roll Call, … [+] Inc via Getty Images) CQ-Roll Call, Inc via Getty Images Rep. Bill Foster (D-Ill.) has sp...
Volkswagen CEO says EV outlook is very good
An ID. Buzz photographed at a plant in Hanover, Germany, on June 16, 2022. Supply chain constraints — including those related to semiconductors — have been a major challenge for automakers in recent t...
Gasoline futures are dropping, which could mean more relief at the pump
Brie Olootu pumps gas at an Exxon Mobil gas station on June 09, 2022 in Houston, Texas. Gas prices are breaching record highs as demand increases and supply fails to keep up. Brandon Bell | Getty Imag...
Shell to build ‘Europe’s largest renewable hydrogen plant’
On Wednesday, Shell said the Holland Hydrogen I facility would be “Europe’s largest renewable hydrogen plant” when operations start in 2025. Shell is one of several big firms looking...
rising costs are squeezing retailers’ margins
Retail businesses in Singapore are grappling with higher costs as rents rise and energy prices soar, the Singapore Retailers Association said. Cost pressure is a big concern for many Singapore retail...
Historic Shifts In Russian Energy Flows Bolstering China
Russian President Vladimir Putin looks at the screen with Chinese President Xi Jinping session … [+] during the Saint Petersburg Economic Forum SPIEF 2022, on June 17, 2022, in Saint Petersburg,...
VW and Goldman-backed Northvolt gets $1.1 billion funding
Northvolt’s most recent funding announcement comes at a time when major economies are laying out plans to move away from vehicles that use diesel and gasoline. Mikael Sjoberg | Bloomberg | Getty...
Is the ‘energy trade’ dead already?
“XOP” is down more than 30% since June 7th but that does not mean an end to the “energy trade”, says Paul Sankey. He’s the Lead Analyst at Sankey Research. Oil prices to ...
Energy Billionaire Sarath Ratanavadi’s Wealth Rockets As His Telecoms Bet Pays Off
Sarath Ratanavadi FORBES THAILAND This story is part of Forbes’ coverage of Thailand’s Richest 2022. See the full list here. Thai energy billionaire Sarath Ratanavadi has hit a sweet spot. His d...
France Will Nationalize Country’s Largest Utility Company Amid Deepening War-Induced Energy Crisis
Topline The French government said Wednesday that it plans to fully take over its largest electricity provider Electricity de France, a move that shows the long-lasting effects of Russia’s invasion of...
The world’s most powerful tidal turbine just got a major funding boost
Orbital Marine Power’s O2 turbine at the Orkney Islands, north of the Scottish mainland, in September 2021. Scotland has become a hub for companies and projects focused on tidal power and marine...
Car quality is slipping: These are the brands with the most and least complaints, study finds
New car owners are experiencing more problems in the first 90 days of ownership than ever before. Buick took the top spot in the 2022 J.D. Power Initial Quality Study, but the headline isn’t the winne...
European natural gas prices surge as Norwegian outage adds to supply woes
Natural gas prices in Europe surged on Monday to their most expensive since the early stages of Russia’s invasion of Ukraine as proposed strikes in Norway increased fears about inadequate supply. Natu...
Opinion: It’s time to buy the selloff in energy stocks, starting with these 4 names
It’s never really a bear market until all the stragglers get taken out and shot. So it was just a matter of time before energy stocks, the big winners for much of the first half of this year, got nail...