August Newsletter
Our August newsletter is here! Keep reading to see what we're excited about this month!
Why Texas’ mass power outages continue to happen
It’s become a familiar cycle: A powerful storm sweeps through a swath of Texas and takes the electric system down in its grip. Trees might bend and topple, crashing down onto a power pole. Sometimes the weight of ice pulls branches onto electric lines. Other times wind makes a wire spark, and that ember ignites a destructive blaze.
Thousands of Texans then sit in the dark for days — in either the blistering heat or frigid cold — waiting for utility crews to survey and fix the damage so electricity can start flowing again.
Such power outages are likely to continue.
Read more: Texas Tribune
Exclusive-ExxonMobil selling Malaysia oil and gas assets to Petronas, sources say
Exxon Mobil Corp has agreed to sell its Malaysian oil and gas assets to state energy firm Petronas, exiting the country's upstream sector where it used to be a dominant producer, two people with direct knowledge of the matter said.
Read more: Reuters
Biggest oil and gas companies in the world by market cap in 2024
One of the most important and significant sectors of the world economy, the oil and gas industry shapes geopolitical environments, powers society, and fuels economic expansion. Certainly, the oil and gas industry is a dominant source of energy across the globe and several oil companies supply billions of barrels of petroleum products daily to power transportation and industry.
Read more: Economy Middle East
领英推荐
Energy Hit Harder by Ransomware Attacks Than Other Sectors
Ransomware attacks on oil and gas companies and utilities have not subsided over the past year despite an overall decline in the number of such attacks globally, cybersecurity firm Sophos said in a new?report.
Read more: Oil Price
Oil drops as investors look past Biden exit, focus on weak fundamentals
Oil prices fell for a second consecutive session on Monday to their lowest level in over a month, as investors looked past U.S. President Joe Biden's decision to end his reelection bid and focused on rising stockpiles and signs of weak demand.
Read more: Reuters
Oil market likely to be in surplus next year, Morgan Stanley says
The crude oil market is currently tight but next year will likely be in surplus, with Brent prices declining into the mid-to-high $70s range, Morgan Stanley.
The tightness will hold for most of the third quarter, the bank said in a note dated on Friday, but equilibrium will return by the fourth quarter, "when seasonal demand tailwinds abate and both OPEC and non-OPEC supply return to growth."
Read more: Reuters
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