Vladimir Putin said the US and Russia would meet in January in Geneva for talks over Ukraine, which he said were essential to protect Moscow from what he claimed were Continue Reading
Russian mercenaries have deployed to separatist-controlled eastern Ukraine in recent weeks to bolster defences against Ukrainian government forces as tensions between Moscow and the West rise, four sources have told Continue Reading
Some of Europe’s biggest energy users are curbing production as they warned soaring power and gas prices could lead to higher manufacturing costs and hit competitiveness. Dunkirk’s Alvance, Europe’s largest Continue Reading
A breakneck rally in European natural gas prices continued Tuesday, catapulting the benchmark to a new record high with premiums above Asia and the U.S. and creating massive arbitrage opportunities Continue Reading
Germany will put 900 million euros ($1 billion) into a funding scheme to support green hydrogen, the economy ministry said on Thursday, as the new government seeks to boost investment Continue Reading
Lukoil has reached a major milestone at its offshore Vladimir Filanovsky field located in the Caspian Sea. Russian oil and gas company Lukoil has reached a major milestone at its Continue Reading
Crude oil futures rose in mid-morning trade in Asia Dec. 23, on track for a third straight day of gains, as emerging studies continued to downplay the severity of the Continue Reading
Oil held near the highest settlement in four weeks as traders weighed falling U.S. crude stockpiles against the threat to demand from the omicron virus variant. Futures in New York Continue Reading
Highlights US crude stocks fall 4.72 million barrels Refinery demand hits four-month high Omicron fears eases as US, UK rule out lockdowns Crude futures settled higher for a second session, Continue Reading
Oil steadied as investors weighed mixed demand signals and trading volumes thinned moving into the holiday period. Futures in New York traded just below $72 a barrel after rallying on Continue Reading
Coal has experienced a dramatic rebound this year, with production levels set to hit an all-time high in 2021. The surge in demand is largely due to the faster-than-expected global Continue Reading
The airline industry was battered during Covid due to global travel restrictions and then, as the world began to open up, by rising jet fuel prices Airlines celebrated last month Continue Reading
The last puzzle piece needed for a complete recovery in oil demand is falling into place with air travel consumption showing the first signs of sustained growth since the pandemic. Continue Reading
Passengers watch inflight entertainment during a flight from Los Angeles International Airport. A rebound in global airline capacity should accelerate in the second half of next year, but trans-Atlantic traffic Continue Reading
Three separate teams of scientists on two continents have found that Omicron infections more often result in mild illness than earlier variants of the coronavirus, offering hope that the current Continue Reading
Libya’s oil production and exports are threatened again as the presidential election slated for December 24 will likely be postponed. Armed groups descended in the capital Tripoli on Tuesday amid Continue Reading
Petrochemical sector becomes key economic pillar in Iran Increasing output and revenues from its petrochemicals sector has always been key to Iran’s ‘resistance economy’ model Petrochemicals have higher profitability margins Continue Reading
Royal Dutch Shell Plc halted crude shipments from Nigeria’s Forcados export terminal, dealing another blow to the African nation, which has struggled to stem falling production. Shell Petroleum Development Co. Continue Reading
Fed by rain and snowmelt from mountains, this valley nestled among northwestern Afghanistan’s jagged peaks was once fertile. But the climate has changed in the last few decades, locals say, Continue Reading
India is reviewing a proposal to stop new coal-fired capacity construction under a plan to meet its climate pledges, Indian outlet The Economic Times reported on Wednesday, quoting sources familiar Continue Reading
India’s decision this week to ban agricultural trading contracts marks Narendra Modi’s latest effort to ease popular fears about rising inflation ahead of crucial state elections early next year. The Continue Reading
The impact of the La Nina weather pattern that’s expected to roil global food markets in coming months is already showing up in parts of Brazil, the world’s biggest soybean Continue Reading
China is redoubling efforts to control new virus outbreaks with a lockdown of the 13 million residents of the northern city of Xi’an following a spike in coronavirus cases. The Continue Reading
China has locked down 13m people in the central city of Xi’an, as the country battles to contain increasingly frequent coronavirus outbreaks that threaten its economic recovery in the run-up Continue Reading
China has approved the merger of three leading rare earths companies, creating a state-owned powerhouse that will be the world’s largest producer of the strategic resource and strengthen government control Continue Reading
China’s independent refiners’ demand for bitumen blend has been slipping in recent weeks amid tepid margins for producing asphalt, largely due to seasonal slowdown in construction activity in winter, sources Continue Reading
Chinese property developers have been hit by record numbers of downgrades from international credit rating agencies this year, as Evergrande’s collapse fuels concerns over the health of China’s economy. The Continue Reading
U.S. health regulators on Wednesday authorized the first pill against COVID-19, a Pfizer drug that Americans will be able to take at home to head off the worst effects of Continue Reading
Slashed drilling activity and low oil prices led to the largest decline in annual average crude oil production in the United States in 2020 U.S. crude oil production averaged 11.3 Continue Reading
A combination of weather-related and geopolitical factors have led to an energy crisis in Europe Gas flows on one of the major gas pipelines from Russia to Europe have reversed Continue Reading
Highlights Dramatically above-average two-week forecast Mild temperatures lower overall gas demand outlook Temperature forecasts show unusually mild weather over the next two weeks in Texas and the US Southeast, which Continue Reading
All six major U.S. LNG liquefaction facilities in operation appear to be running at full capacity as they made a new record for LNG feedgas demand. All six major U.S. Continue Reading
The United States on Wednesday authorized Pfizer Inc’s (PFE.N) antiviral COVID-19 pill for at-risk people aged 12 and above, making it the first oral treatment and which can be taken Continue Reading
Russian gas flows to Europe dropped sharply this week as some buyers under long-term deals have already hit their contracted supply limits for the year, according to people with direct Continue Reading
Highlights OPEC+ quotas, drilling programs to increase output capacity Output could rise by nearly 500,000 b/d by June on Nov 2021 levels Omicron, sanctions, strategic reserves releases could affect output Continue Reading
European power climbed to a fresh record as France faces a winter supply crunch, with heavy industries forced to curb production across the region. Electricity for delivery next year jumped Continue Reading
Cold-stricken Europe is drawing a flotilla of U.S. liquefied natural gas cargoes amid an energy crisis that has sent gas prices to record levels. Facing a winter shortage and little Continue Reading
Highlights UK power prices up 30% in a month High prices affecting whole economy 50% retail price hike expected in spring Energy prices across Europe are now so high that Continue Reading
Highlights Marine fuel supply tightness to last into 2022 Wide Hi-5 spread incentivizes scrubber installation Record LNG prices drive high sulfur fuel oil consumption Rising refinery costs impact feedstock demand Continue Reading
Gazprom has traditionally been cautious in its budget estimates. Gazprom PJSC’s 2022 budget took a typically prudent view of gas prices, despite record-high energy costs in its main export market Continue Reading
Crude oil futures moved higher in mid-morning trade in Asia Dec. 22, extending sharp overnight gains, as risk-on sentiment grew amid signs that the US and UK were not headed Continue Reading
This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 3.670 million barrels. U.S. crude inventories have shed some 65 million barrels since the Continue Reading
Oil steadied as investors weighed mixed demand signals and trading volumes thinned moving into the holiday period. Futures in New York traded just below $72 a barrel after rallying on Continue Reading
Oil climbed with equities as traders resumed buying risk assets following a two-day rout. Futures in New York closed up 3.7%, trading around $71 a barrel. Crude rallied as U.K. Continue Reading
As of the end of November, total global discovered volumes this year are calculated at 4.7 billion barrels of oil equivalent Liquids continue to dominate the hydrocarbon mix, making up Continue Reading
Uncertainty has returned to oil markets at the end of the year as a new variant of Covid combines with inflation fears to threaten demand Predicting the price of oil Continue Reading
The real reason why global climate targets are doomed to fail has barely been touched on. The wealthiest 1% account for 15% of the world’s emissions–more than twice the emissions Continue Reading
As of the end of November, total global discovered volumes this year are calculated at 4.7 billion barrels of oil equivalent. The oil and gas industry is on course for Continue Reading
The world will probably have one of the warmest years on record in 2022, underscoring concerns about the need to tackle climate change. The average global temperature is anticipated to Continue Reading
The worst drought in decades has led to protests as climate change exposes decades of policy failure. Iranians flooded the barren riverbed of the Zayandeh Rud, in the ancient town Continue Reading
