Battery manufacturers are confronting a severe lithium shortage, highlighting the need to challenge China’s dominance of raw material supply chains, an Australian lithium producer has warned. Stuart Crow, chair of Continue Reading
Rigzone’s regular energy prognosticators take a look at the U.S. refinery run rate, Strategic Petroleum Reserve release destinations, growth in the context of pandemic recovery and more. (The views and Continue Reading
Offshore projects cost billions and rarely come online in less than a decade. Questioned by U.S. lawmakers this week, chief executives from the nation’s biggest oil companies took great pains Continue Reading
The Russian rouble weakened sharply in jittery trade on Monday, reversing some of the previous week’s gains, after the central bank decided to relax temporary capital control measures aimed at Continue Reading
The European Union’s executive is drafting proposals for an EU oil embargo on Russia, the foreign ministers of Ireland, Lithuania and the Netherlands said on Monday, although there is still Continue Reading
JSC has been ruled in default on a bond after missing an interest payment last month, the first such decision since Russia was slapped with harsh sanctions that complicated financial Continue Reading
Russian President Vladimir Putin’s decision to invade Ukraine probably sabotaged any further aspirations for the Sputnik coronavirus vaccine, the first injection approved by any country. Manufacturing of the vaccine has slowed, further Continue Reading
EU ban on Russian coal may lift prices of natural gas and electricity outside of Europe. China’s demand for thermal coal is rising amid a push for energy security. The Continue Reading
Russia’s war and the sanctions that followed have worsened the world’s growing energy crisis. Experts are predicting that the war could set the world’s climate goals back for years. The Continue Reading
OPEC does not have the additional spare capacity to lift crude oil production much more than it is doing today, Nigeria’s Petroleum Minister Timipre Sylva told Anadolu Agency on Friday. Continue Reading
Iran said on Saturday it had imposed sanctions on 24 more Americans, including former Army Chief of Staff George Casey and former President Donald Trump’s attorney Rudy Giuliani, as months Continue Reading
Algeria is set to boost its natural gas exports to Italy by almost 50% with a new deal due to be signed Monday, people familiar with the matter said. The Continue Reading
Shanghai carried out another round of mass COVID-19 testing on Saturday, this time testing residents at least twice in a single day, as a city official in China’s financial hub Continue Reading
Nigeria’s national electricity grid has collapsed for the second time in a month, the federal ministry of power said on Saturday, leaving the parts of the country it serves, including Continue Reading
Covid cases in Shanghai hit their highest level yet as authorities in the locked-down city stepped up their battle to suppress China’s worst outbreak in two years. Shanghai, which is Continue Reading
China and India are emerging as Russia’s main crude buyers. Russia’s ESPO blend is especially popular among Asian refiners. Russia’s Urals crude is trading at discounts of more than $30 Continue Reading
Japanese gas companies are preparing plans to source liquefied natural gas from Malaysia, Australia and the US in case of what they fear could be looming disruption of supply from Continue Reading
As the staging ground for an assault on the Ukrainian capital of Kyiv, the Chernobyl Exclusion Zone, one of the most toxic places on earth, was probably not the best Continue Reading
The Czech Republic should cut its dependence on Russian energy resources within five years, Prime Minister Petr Fiala said on Saturday, terming the current situation one of the country’s “greatest Continue Reading
The Russian government said on Sunday it has increased its reserve fund used for emergency spending by 273.4 billion roubles ($3.52 billion) to ensure economic stability against the backdrop of Continue Reading
Sasha Kazilo moved from Russia to Paris along with her family and her business, a startup called Funexpected. Hundreds of thousands of professional workers, many of them young, have left Continue Reading
Oil prices rose 2% on Friday but notched their second straight weekly decline after countries announced plans to release crude from their strategic stocks. Brent crude futures settled up $2.20, Continue Reading
Oil prices have dominated headlines in recent weeks, but the most dramatic action has been happening in a hidden corner of the market. Distillate fuel prices are breaking records left Continue Reading
Russia’s demand for “unfriendly countries” to pay for gas in rubles could have a significant impact on key metal markets. Climbing oil and gas prices are a major concern not Continue Reading
Dire Consequences of Rising Food Prices Global food prices are surging at the fastest pace ever as the war in Ukraine chokes crop supplies, piling more inflationary pain on consumers Continue Reading
Prices for food commodities like grains and vegetable oils reached their highest levels ever last month largely because of Russia’s war in Ukraine and the “massive supply disruptions” it is Continue Reading
The world is about to pass another important milestone in electric vehicle adoption: 20 million plug-in vehicles on the road globally, come June, according to BNEF estimates. That’s remarkable growth Continue Reading
The rising cost of crude oil will increase the cost of Nigeria’s gasoline subsidy by nearly ten times what it had originally budgeted, Nigeria’s President Muhammadu Buhari said in a Continue Reading
Argentina’s new deal with Bolivia to up natural gas imports will bring savings of $769 million in foreign-exchange reserves and replace 14 vessels of increasingly expensive liquefied natural gas (LNG), Continue Reading
A series of deaths at a hospital for elderly patients in Shanghai is underscoring the dangerous consequences of China’s stubborn pursuit of a zero-COVID approach amid an escalating outbreak in Continue Reading
Some of the world’s biggest automakers are linked through their suppliers to labor programs in China’s Xinjiang region that experts have flagged as coercive, according to a new report by Continue Reading
After two years of relying on broad, hard-edged lockdowns to control Covid-19, Chinese leader Xi Jinping tried something new in Shanghai. Mindful of the economic toll and public anger from Continue Reading
Highlights Reducing Russian coal imports in phases by finding alternative suppliers Japan steps into reducing overall Russia energy dependency including oil: PM Russia accounts for 11% of coal imports as Continue Reading
With coronavirus lockdowns, a real estate downturn, and surging oil prices stemming from Russia’s invasion of Ukraine, Chinese President Xi Jinping is turning to reliable allies to keep his ambitious Continue Reading
U.S. energy firms last week added oil and natural gas rigs for a third week in a row as the federal government seeks more production to help its allies wean Continue Reading
Negotiators from Chevron Corp (CVX.N) and the United Steelworkers union (USW) are scheduled to meet on Monday to discuss a possible end to a strike at the company’s oil refinery Continue Reading
The White House is still considering a possible federal gas tax holiday to lower U.S. consumer energy costs, spokesperson Jen Psaki said on Friday. View full article at www.reuters.com
The number of total active drilling rigs in the United States rose by 16 this week. The total rig count increased to 689 this week—257 rigs higher than the rig Continue Reading
NYMEX Henry Hub May settled at $6.28/MMBtu April 8 April 7 was prompt-month’s highest price since December 2008 Widening storage deficit, strong LNG exports possible drivers After settling at its Continue Reading
EU, Ukraine, US wheat exports view, hikes Russia exports Keeps global output view largely steady, cuts ending stocks Hikes global wheat estimates by 4 million mt The US Department of Continue Reading
European Union countries on Thursday approved a ban on Russian coal imports from August as part of new measures against Moscow, but are split over whether oil or gas sanctions Continue Reading
Kremlin spokesperson Dmitry Peskov said on Friday that coal was in high demand and that Russian coal earmarked for Europe would be redirected to other markets if the EU refused Continue Reading
Germany could end Russian oil imports this year, Chancellor Olaf Scholz said on Friday, signalling the urgency driving Europe’s biggest economy to wean itself off energy from Russia following its Continue Reading
Germany’s biggest pipeline network operator Open Grid Europe (OGE) plans to build a 30km liquefied natural gas (LNG) link from a planned terminal at the North Sea port of Wilhelmshaven Continue Reading
S&P Global Ratings cut Russia’s unsolicited foreign currency issuer credit ratings to selective default as it became the last major agency to pull sovereign ratings on the country. “The foreign Continue Reading
How War in Ukraine Complicates the Global Grain Trade Sign up here to get the latest updates on the Russian invasion of Ukraine. You can also follow us on Telegram Continue Reading
Russia’s first external default in a century now looks all but inevitable after another brutal week for the country’s finances. First, the Treasury halted dollar debt payments from Russia’s accounts Continue Reading
In the latter half of the 1980s, roughly 200 American companies withdrew from South Africa, partly in protest against its apartheid system. As businesses fled the country, South Africa’s segregationist Continue Reading
Impacts quarter of Russian coal exports, Eur8 bil/year loss: EC German Cal trades at Eur197/MWh, year-ahead coal hits $230/mt European coal and German forward power prices rose further April 8 Continue Reading
Ban to apply to all forms of coal Amounts to Eur8 bil/year loss in revenue for Russia EU imports around 50 mil mt/year of Russian coal: Euracoal The European Council Continue Reading
