Saudi Arabia’s DPRK to launch first robot to drive offshore oil operations: CEO RIYADH: Saudi Arabia’s Research Products Development Co., a subsidiary of PIF-owned TAQNIA, is launching its first robotic prototype this year to support offshore oil operations, its CEO said. “The robot will be used to inspect leakage in pipelines under the water,” DPRK … Read more
Berlin could handle an embargo on Russian oil imports, Germany’s Climate and Economy Minister Robert Habeck said on Tuesday, suggesting the country could end its dependence on Moscow within “days.” Habeck, speaking at a press conference in Warsaw, said that Germany had managed to slash its reliance on Russian oil by two-thirds in recent weeks, … Read more
Shell provoked upset less than two weeks into Putin’s invasion of Ukraine as it snapped up a cargo of steeply discounted Russian oil, putting it on course for hefty profits in markets roiled by the disruption. Dmytro Kuleba, Ukraine’s foreign minister, criticized the company on Twitter, demanding that multinational companies “cut all business ties with … Read more
Global oil demand will drop by 1.4 million barrels per day, according to the latest forecast by Rystad Energy on Friday cited by the National. The 1.4 million bpd loss would sink oil demand to 99.6 million bpd on average, below 2019 levels of 100.2 million bpd. And a rebound in this demand isn’t expected … Read more
LOS ANGELES: When China banned bitcoin mining last year, it launched a US cryptocurrency goldrush, with states such as New York, Kentucky and Georgia fast becoming major mining hubs, according to Reuters. New York state assembly member Clyde Vanel couldn’t be happy. “It’s a blessing that it’s happening here,” he said, pointing to the jobs … Read more
LOS ANGELES: When China banned bitcoin mining last year, it launched a US cryptocurrency goldrush, with states such as New York, Kentucky and Georgia fast becoming major mining hubs, according to Reuters. New York state assembly member Clyde Vanel couldn’t be happy. “It’s a blessing that it’s happening here,” he said, pointing to the jobs … Read more
Oil demand in the world’s top crude oil importer, China, is expected to decline by 1.2 million barrels per day (bpd) in April from a year ago—the largest hit to demand since the Wuhan lockdowns at the beginning of the pandemic, Bloomberg reported on Friday, quoting sources with inside knowledge of the Chinese energy industry. … Read more
The Ukrainian government has criticized Shell over a “trick” that allows it to continue buying Russian oil even after the business promised to cut ties with the Kremlin. A letter sent by Kyiv to the oil giant’s boss Ben van Beurden said it was “deplorable” that companies are continuing to “bankroll Putin’s war machine” amid … Read more
By Tsvetana Paraskova – Apr 18, 2022, 9:00 AM CDT Saudi crude oil exports jumped to 7.307 million barrels per day in February. Saudi crude oil exports topped the 7-million-bpd mark for the first time since the start of the pandemic. JODI: Saudi crude oil and oil products closing stocks in February rose by 316,000 … Read more
A 64-year-old woman has become the first person to be convicted for her involvement in the wave of protests at fuel sites staged by activist group Just Stop Oil. Catherine Maclean was charged with aggravated trespass after an incident at an oil terminal in Thurrock last Wednesday. Maclean, of Hassocks, in West Sussex, was ordered … Read more