EU Aims to Cut Russia Gas Dependence by Almost 80% This Year
The European Union’s executive arm is mapping out a path to end the bloc’s reliance on Russian gas that could see import needs cut by almost 80% this year, according Continue Reading
Ukrainians Risk Their Lives to Keep Russian Gas Flowing to Europe
Europe imported more natural gas from Russia in the first 10 days of the war than before the invasion. Keeping it flowing is a crew of intrepid Ukrainians. Minutes after Continue Reading
Replacing Russian Gas in Europe Will Require State Planning
The war in Ukraine has ended the notion that natural gas is a reliable transition fuel for Europe, but it will still need to rely on it for years to Continue Reading
The Future Turns Dark for Russia’s Oil Industry
A week after a chorus of Western executives from Exxon Mobil, BP, Shell and other companies denounced Moscow’s violent onslaught in Ukraine and pledged to pull their companies out of Russian ventures, Continue Reading
Russia Says Energy Embargo Could Send Oil Prices Over $300
With the US reportedly said to vote as soon as Tuesday on a proposal to ditch trade relations with Russia and Belarus, including suspending oil imports despite repeated objections from Continue Reading
Russia warns of $300/b oil, threatens gas export ban
Russia has threatened to retaliate against international sanctions with an embargo on gas exports and warned restricting imports of its oil would see prices surge to $300/b. Receive daily email Continue Reading
Russian gas continues to flow into Europe on main pipeline routes
Russian gas delivered through the Yamal-Europe pipeline via Poland was flowing westward into Germany on Tuesday morning, and flows into Slovakia via Ukraine remained at recent high levels, pipeline operator Continue Reading
Oil spikes to 2008 highs as U.S., Europe mull Russian oil import ban
Brent crude soared near $130 a barrel on Monday, its highest since 2008, as the United States and European allies mull a Russian oil import ban and delays in the Continue Reading
Oil Shoots Near $130 as Chance of Russian Ban Spurs Crisis Fears
Brent surged 18% at the open before paring half those gains Oil soared in Asia — jumping as much as 18% early in the session — after reports that the Continue Reading
Can Non-OPEC Producers Jump Into The Supply Gap?
Only a handful of OPEC members have available spare production capacity.| Many Non-OPEC producers are also large consumers of crude oil. Of the Non-OPEC producers, only Brazil, the U.S., Norway, Continue Reading
Oil Traders Bet Prices Will Pass $200 a Barrel This Month
Traders piled into options that oil could surge even further after rising to the highest since 2008, with some even placing low-cost bets that futures surpass $200 before the end Continue Reading
Vitol’s Muller says high oil prices may lead to demand destruction
Highlights China may be ‘backstop home’ to Russian crude Saudi OSPs to Asia could have been even higher Oil rally not over: Mike Muller High oil prices are likely to Continue Reading
Analysis: Confusion, but not panic, reigns in global finance in Russia’s wake
Western allies’ sanctions against Russia have started to blowback in the form of large potential losses for their own banks, companies and investors, often in unexpected ways. In the past, Continue Reading
U.S., European allies discuss banning imports of Russian oil
The United States and European allies are exploring banning imports of Russian oil, U.S. Secretary of State Antony Blinken said on Sunday, and the White House coordinated with key Congressional Continue Reading
Russia’s Ukraine invasion could be a global economic ‘game changer’
Russia’s invasion of Ukraine and the financial reckoning imposed on Moscow in response are proof that the triumphant globalization campaign that began more than 30 years ago has reached a dead end. Continue Reading
Iran nuclear deal possible soon, Russia’s contribution constructive -Iranian spokesperson
Iran believes a deal on its nuclear program can be quickly reached if Washington accepts points made by Tehran at talks in Vienna, the Foreign Ministry said on Monday, adding Continue Reading
Iraq rebounds from temporary oil field outages
Iraq appears to be overcoming temporary outages at two southern oil fields and avoiding major disruptions to its overall oil production. The West Qurna 2 field — whose roughly 400,000 Continue Reading
Iran Nuclear Deal Threatened by Russian Demands Over Ukraine Sanctions
Fresh demands from Russia threatened to derail talks to restore the 2015 Iran nuclear deal, as Moscow said it wanted written guarantees that Ukraine-related sanctions won’t prevent it from trading broadly with Continue Reading
Indian diplomats approaching U.S. over ONGC Videsh taking Venezuelan oil -CEO
The chief executive of ONGC Videsh, India’s second-largest oil and gas company, on Sunday confirmed talks between India and the U.S. State Department are underway to allow the company to Continue Reading
Rupee Sinks to Record Low as India Markets Sell off on Oil Surge
The Indian rupee tumbled to a record low, while stocks and bonds also slumped as a relentless surge in oil prices darkened the nation’s economic outlook. India relies on overseas Continue Reading
U.S. officials visit Venezuela for talks with Russia-aligned Maduro government
A group of senior U.S. officials flew to Venezuela on Saturday for a meeting with President Nicolás Maduro’s government to discuss the possibility of easing sanctions on Venezuelan oil exports Continue Reading
U.S. Officials Travel to Venezuela, a Russia Ally, as the West Isolates Putin
Senior U.S. officials are traveling to Venezuela on Saturday to meet with the government of President Nicolás Maduro, according to people familiar with the matter, as the Biden administration steps Continue Reading
Japan Inc feels the heat over Russia ties as rivals shun Moscow
Japanese firms are under deepening pressure over their ties to Russia and are scrambling to assess their operations, company and government insiders say, after Western rivals halted businesses and condemned Continue Reading
Japan’s top business lobby says difficult to replace Russian oil immediately
The head of Japan’s largest business lobby said on Monday the country’s imports of Russian crude could not be replaced immediately, as global discussions gathered pace about the possibility of Continue Reading
China Shuns Energy Use Target to Focus on Securing Fuel Supply
China declined to set a new hard target for energy use and will focus on securing fuel supplies as the world’s biggest oil, gas and coal importer navigates unprecedented tumult Continue Reading
These Charts Show How China Is Going Slow on Climate Action
Bloomberg News Anyone hoping the world’s biggest carbon emitter would use its annual parliamentary session to speed up action on climate change was left sorely disappointed this weekend. Instead, China Continue Reading
CHINA DATA: Jan-Feb crude imports fall 4.9%
China’s crude imports in January-February fell 4.9% year on year to 10.58 million b/d, or 85.14 million mt, data from the General Administration of Customs showed, as throughput was capped Continue Reading
China’s Jan-Feb finished steel exports fall 18.8% on year to 8.234 mil mt
Exports seen low in March before rebounding strongly in April-May Finished steel imports fall 7.9% on year over January-February China’s finished steel exports over January-February fell 18.8% year on year Continue Reading
Japan may take more action vs Russia, could impact energy sector -lawmaker
Japan may take more action in response to Russia’s invasion of Ukraine which could significantly impact Japan’s energy sector, a senior ruling party lawmaker said on Sunday, while expressing caution Continue Reading
Flooded Australian towns brace for more rains, several people still missing
Australian authorities on Friday warned of more rains over the weekend in several flooded regions in the country’s east, likely hampering relief efforts as defense personnel try to reach worst-hit Continue Reading
CERAWEEK Energy conference returns to Houston as Ukraine conflict puts market in turmoil
The world’s biggest gathering of energy industry leaders returns to Houston this week as Russia’s invasion of Ukraine delivers an oil price shock to the global economy and embattled executives Continue Reading
S&P 500 Targets Are Being Slashed as Oil’s Surge Roils Markets
Expectations for the S&P 500 index are buckling under the clamor of inflation and economic growth worries stoked by crude oil’s rally. The U.S. equity gauge may drop to 4,000 Continue Reading
$110 Oil Prompts Private Shale Firms To Open The Taps
Big public shale drillers aren’t rushing to boost production following the pandemic. Small, privately held shale drillers are increasingly drilling activity as they see a chance to significantly ramp up Continue Reading
Coal Country Court Case Could Transform America’s Climate Regulation
The U.S. Supreme Court is trying a case between West Virginia and the EPA, and it could send waves through the American climate regulatory system. Several legal observers have questioned Continue Reading
Analysis: As Russia avoids energy sanctions, oil majors flee but TotalEnergies stays
France’s TotalEnergies (TTEF.PA) cuts a lonely figure hanging onto its Russian investments during a mass exodus of western oil majors from the country after its invasion of Ukraine, even though Continue Reading
Austria’s OMV joins energy rivals in pulling back from Russia
Austria’s OMV (OMVV.VI) on Saturday became the latest energy firm to pull back from Russia, saying it would take an anticipated 1.5-1.8 billion euro($1.6-$2.0 billion) hit as it seeks to Continue Reading
Russian war in world’s ‘breadbasket’ threatens food supply
The Russian tanks and missiles besieging Ukraine also are threatening the food supply and livelihoods of people in Europe, Africa and Asia who rely on the vast, fertile farmlands of Continue Reading
Ukraine War Hits Farmers as Russia Cuts Fertilizer Supplies, Hurting Brazil
Brazil is searching for new fertilizer suppliers as the war in Ukraine threatens to cut off shipments to one of the world’s breadbaskets, with potential ripple effects on already high global Continue Reading
Putin’s plan is failing in ways he could not have imagined
States are built with hardware, but nations run on software. Which is the more indispensable to the life or death of a nation state, we are, through Ukraine’s bloody ordeal, Continue Reading
Can The World Economy Function Without Russian Oil?
The Ukraine invasion may be a push in the direction of more serious energy problems, emerging primarily from the fact that other countries will want to punish Russia. Russia holds Continue Reading
Shell says controversial purchase of Russian crude is to ensure European refinery supply
Highlights Traders, refiners shunning Russian oil over Ukraine Shell lifts cargo at record low level in Platts MOC Shell promises to commit profits from Urals to humanitarian fund Shell explained Continue Reading
These Are the Companies Cutting Ties With Russia Over Ukraine
Visa and Mastercard’s Russia Suspension: Explain This Netflix , TikTok, Samsung and credit card operators have joined the lengthening list of businesses cutting ties with Russia or reviewing their operations Continue Reading
Russia’s Gazprom continues gas shipments via Ukraine at same level -Prime
Russian state natural gas company Gazprom is continuing to supply gas via Ukraine at the same volume as a day earlier of 109.5 million cubic metres per day, Russia’s Prime Continue Reading
French Finance Minister: still room for further sanctions against Russia
France and Europe still have margin for maneuver to implement further sanctions against Russia for invading Ukraine, French Finance Minister Bruno Le Maire said on Monday. “Yes there are margins Continue Reading
Belgian Greens make U-turn to consider nuclear plants extension
Belgium should keep an open mind about extending the life-span of its remaining nuclear power plants, the country’s Green energy minister said on Monday, in a shift of position prompted Continue Reading
Why Sapping Russia of Oil Money Is Key to Making Sanctions Work
There’s a paradox haunting threats to cut off imports of Russia’s oil to punish it for its invasion of Ukraine: the more markets take the threat seriously, the more valuable Continue Reading
More Russian Oil Heavily Discounted as Ban Risk Alarms Buyers
Oil Surges as U.S. Mulls Ban on Russian Crude Imports A cargo of Russian Sokol oil from the Far East was offered at a steep discount as the nation’s invasion Continue Reading
EU Weighs Looser Aid Rules as Ukraine War Hits Bloc’s Economy
The European Union is weighing how to help stem the economic hit from the war in Ukraine, including a possible relaxation of the bloc’s tough state-aid rules. The European Commission Continue Reading
Wheat Surges Closer to Record as War Paralyzes Ukraine Supply
Wheat prices soared closer to record levels as Russia’s intensifying war in Ukraine cuts off supplies from one of the world’s leading breadbaskets. Futures in Chicago jumped by the daily Continue Reading
Pound Falls to New Low in Post-Brexit Era as Haven Bid Heats Up
The pound slumped to the lowest since December 2020 as traders flocked to the U.S. dollar amid an escalation in the Ukraine war. Sterling slid to as low as $1.3156, Continue Reading