Contemporary Amperex Technology's market share in the U.S. will likely continue to decline, Daiwa analysts wrote in a note. Currently, the U.S. contributes 7% of the company's total EV battery business, the analysts noted. A group of U.S. lawmakers sent a letter to the Biden administration calling for CATL to be added to an import ban list over alleged forced labor.
It did not take long for Vladimir Putin’s invasion of Ukraine to reshape the world’s energy markets, as countries long reliant on Russian gas sought to sever ties as soon as possible.
U.S. oil and gas companies could face an uphill struggle to sell about $27 billion of assets to fund investor payouts over the next few years as the biggest wave of energy megamergers in 25 years nears the end of regulatory reviews. Energy stocks represent just 4.1% by weight of the S&P 500, a third of their 2011 share as tech and health care investments took off. There are fewer institutional and European oil buyers interested, and a lack of ready cash to finance these deals.
LONDON (Reuters) -Oil prices edged higher on Thursday as supply disruption risks from rising geopolitical tensions in the Middle East helped to counter demand fears after a surprise build in U.S. stockpiles. Brent crude oil futures gained 70 cents, or 0.82%, to $85.95 a barrel by 1202 GMT. The U.S. Energy Information Administration (EIA) reported a 3.6 million barrel jump in the country's crude oil stocks last week.
NEW YORK (Reuters) -Oil prices settled slightly higher on Wednesday despite a surprise jump in U.S. gasoline supplies, as investors worried that a potential expansion of the Gaza war could disrupt crude supplies from the Middle East. Brent crude futures rose 24 cents, or 0.3%, to settle at $85.25 per barrel. U.S. West Texas Intermediate crude futures settled 7 cents higher at $80.90 a barrel.
Wind and solar power increases combined with a sharp drop in fossil fuels pushed renewables into the lead.
U.S. crude oil imports last month rose to a nearly two-year high as refiners scooped up heavy crudes from Canada and Latin America to process into fuels for summer driving season. Imports of crude oil rose to 3.1 million barrels per day (bpd) in May, the highest since July 2022, data from ship tracking service Kpler showed. Fuel demand has remained tepid with product supplied for gasoline at 9.1 million bpd in the week to June 14, slightly below the 10-year seasonal average, data from the U.S. Energy Information Administration showed.
Investing.com -- Oil prices edged higher Thursday as concerns over Middle East tensions weighing on global supplies overshadowed a surprise build in U.S. inventories.
India's state-run Bharat Petroleum Corp does not see any major change in its annual crude processing this fiscal year, as it plans to shut a crude unit at its biggest refinery for a month for maintenance, an executive said on Thursday. BPCL, the country's third-largest oil refiner, plans to shut its 120,000 barrels per day (bpd) crude unit and some secondary units at the 310,000 bpd Kochi refinery in southern India from mid-September, said Sanjay Khanna, the company's head of refineries, at an industry event. In the last fiscal year ended March 31, BPCL processed nearly 800,000 bpd of crude at its three refineries that have a combined nameplate capacity of 708,000 bpd, he said.
Katy Perry went topless in nothing but ripped tights and an open jacket during Paris Fashion Week.
‘Thereafter, she said, Beckham was ‘a total animal’ in bed,’ the biography claims
On Everest's sacred slopes, climate change is thinning snow and ice, increasingly exposing the bodies of hundreds of mountaineers who died chasing their dream to summit the world's highest mountain.Sherpa said that bringing one body down from close to Lhotse's 8,516 metre peak -- the world's fourth-highest mountain -- had been among the hardest challenges so far.
Every spring, when warm rays of sunshine herald the start of South Korea’s baking summer, fountains across Seoul’s central Gwanghwamun plaza suddenly burst into life, sending cooling jets of water into the air.
Elizabeth Hurley never fails to impress with an unbelievable bikini photo and she didn't disappoint on Sunday when she donned a strapless number. See photo.
Alibaba Group Holding's annual global maths contest finished on Saturday with all eyes on a 17-year-old vocational school student who has bested hundreds of competitors from prestigious universities such as the Massachusetts Institute of Technology, Stanford University and Tsinghua University, generating intense interest and speculation online. The Alibaba Global Mathematics Competition, which has been hosted by Alibaba's Damo Academy annually for the past six years, except 2019, held the finals
Gareth Southgate has admitted being England’s major problem at the European Championship, plunging his future as manager in doubt beyond the tournament.
Three bodies were found at the summit of Mount Fuji, Japan’s most famous mountain. One of the bodies had been brought down from the slopes but efforts to bring back the two other bodies were set to continue Friday or later, according to officials after a search was called off for Thursday because of forecasts for heavy rainfall.
Summer plans are beginning to take shape at Old Trafford under Sir Jim Ratcliffe
The 18-year-old celebrated her high school graduation with her famous mom Katie Holmes by her side
Jason Kelce and Travis Kelce revealed the royal protocol they got before meeting Prince William at the Eras Tour.
Fresh New Faces SpaceX CEO Elon Musk is taking potshots at Boeing's embattled CEO David Calhoun, accusing him of being a clueless executive, who has become out of touch. Musk took aim at Calhoun's business background, arguing that "the CEO of an aircraft company should know how to design aircraft, not spreadsheets." And, as Business […]
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