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Oil Rises To Over $80/bbl As Dollar Slumps On Slowing Inflation
The market was also buoyed by concerns about supply disruptions, including the ongoing shutdown of the Canada-to-United States Keystone crude pipeline following a massive leak last week.
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Turkey Reaches Deal Over New Crude Tanker Insurance Regulations
The Turkish measures, which came into effect on Dec. 1, requires vessels to provide proof of insurance for the duration of transit through the Bosphorus or when calling at Turkish ports.
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Ecuador's State Oil Firm Says Weather Power Outage Hits Hundreds Of Wells
In a statement, Petroecuador did not estimate the impact of Sunday's incident on its production levels, but said it was working to normalize output in the coming days after the resulting power outage affected 728 of its wells.
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Oil Up $2/bbl On Supply Risks Amid Ongoing Keystone Outage
Brent crude futures settled at $77.99 a barrel, gaining $1.89 or 2.5%. U.S. West Texas Intermediate crude settled at $73.17 a barrel, rising $2.15, or 3%.
Read More →Oil Tankers Waiting To Pass Through Istanbul Strait Fall To 13: Report
A Turkish measure in force since the start of the month has caused shipping delays. It requires vessels to provide proof of insurance covering the duration of their transit through the Bosphorus Strait or when calling at Turkish ports.
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Turkey Oil Tanker Logjam Snarls Russia Oil Sanctions
A total of 28 oil tankers are in a queue seeking to leave the Bosporus and Dardanelles straits, the Tribeca shipping agency said.
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Nikola To Sell Up To 75 Hydrogen-Powered Trucks To Plug Power
Electric vehicle (EV) makers are looking to capitalize on tax incentives provided by the U.S. Inflation Reduction Act (IRA) to lower costs of adopting EVs for commercial purposes.
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Indian Luxury Car Dealer Landmark IPO Oversubscribed By Threefold Shares On Offer
Investors bid for 24.6 million shares by the final day of bidding, 3.1 times the 8 million shares on offer, exchange data showed.
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Nikola Founder Seeks New Trial, Says Juror Concealed Bias Against Wealthy
Milton told U.S. District Judge Edgardo Ramos in court papers that the juror's Twitter and Facebook pages were "riddled with attacks on wealthy executives"
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Faraday Future Slides On Signaling Need For Funds To Start Production
The company is one of the many EV startups struggling to launch its products as a bleak global growth outlook and a funding squeeze dented production schedules and compounded losses.
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Self-Driving Trucking Firm TuSimple Appoints CFO, Reconstitutes Audit Panel
The company reappointed former chief executive Cheng Lu as its top boss last month after it fired his predecessor Xiaodi Hou following a probe.
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Tesla Plans To Announce Mexico EV Plant Soon - Report
The plant will be located in Santa Catarina in Monterrey city, the capital of Nuevo Leon state in Mexico a report said.
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LG Energy Solution To Invest $3.1 Billion In S.Korea Battery Facility
The project in Ochang, South Korea, will include R&D and production facilities and related infrastructure
Read More →Russian Oil Sold To India Below Price Cap In Buyers' Market
The European Union ban on imports of Russia's seaborne oil from Dec. 5 has driven Moscow to seek alternative markets, mainly in Asia, for about 1 million barrels per day.
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India May Split Planned Mega Refinery To Various Sites - Report
Aramco and ADNOC joined a consortium of Indian state-run firms in 2018 to set up a 1.2 million barrels-per-day coastal refinery and petrochemical plant in western Maharashtra, seeking a reliable outlet for their oil.
Read More →Kremlin Says It Is Finalising Last Details Of Response To Oil Price Cap
Moscow has repeatedly said it will not sell oil to countries that comply with the cap
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Tesla To Start Mass Production Of The Cybertruck At The End Of 2023
Tesla aims to start mass production of its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck.
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Japan To Seek U.S. Flexibility On EV Purchase Incentives, Kyodo Reports
Japan will ask the United States to be more flexible on EV purchase incentives for non-American carmakers.
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Battery Maker Envision AESC Seeking Potential Investors To Fund Expansion
Japan-based Envision Automotive Energy Supply Corporation (AESC) is also in talks with automakers in Japan, Europe, the United States and China for new supply deals, its chief executive Shoichi Matsumoto told Reuters.
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U.S., EU Launch Formal Group To Discuss Conflict Over EV Subsidies
The talks come as auto manufacturers from Stuttgart to Seoul have been angered by Biden's $430 billion "Inflation Reduction Act", enacted in August and aimed at rolling back climate change and making Washington a world leader in the EV market.
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