The timing could not have been better: Indian coal importers have been scouring for cargoes in a tight and expensive global market, and along comes an opportunity to access precious Continue Reading
Exxon has made three discoveries offshore Guyana and increased its recoverable resource estimate for Stabroek to nearly 11 billion oil-equivalent barrels. U.S. oil supermajor ExxonMobil has made three new discoveries Continue Reading
Millions of people in Beijing took their second COVID-19 tests of the week on Wednesday as the Chinese capital tried to keep an outbreak numbering in the dozens from spiralling Continue Reading
The yuan’s sudden slide will gather pace over the next few months as markets price in a worsening outcome for the Covid-stricken economy, analysts say. Analysts from Credit Agricole CIB Continue Reading
Japan’s Prime Minister Fumio Kishida said the country must consider using more nuclear power, as the import-dependent nation grapples with rising fuel prices and a weak yen. Regulations in place Continue Reading
China’s zero-Covid policy has put the country’s stocks on track for their steepest monthly loss in six years, as investors and analysts warn of deeper falls to come on concerns Continue Reading
Chinese regulators led by vice-premier Liu He are concerned that the government is underestimating the economic impact of its crackdown on the property sector and Covid-19 lockdowns in Shanghai and Continue Reading
In 2018, when the power company Hope Energy entered Japan’s new retail electricity market, it thought it had a surefire strategy. Wholesale energy was becoming ever cheaper as liquefied natural Continue Reading
Public anger and grief over the bungled lockdown in Shanghai is creating a credibility crisis for the country’s leader, Xi Jinping, and his zero Covid policies. A banner reading “Persistence Continue Reading
As fourth doses of Covid vaccines roll out, some are questioning whether the general population needs them. At the center of this debate are mysterious T-cells. WSJ’s Daniela Hernandez explains Continue Reading
Blackrock CEO Larry Fink: elevated energy prices ” will spur a huge amount of investing .” Goldman Sachs: there are five robust factors that could fuel a tripling of oil Continue Reading
Survey predicts 42 Bcf build in the week ended April 22 Storage deficit would widen again to over 300 Bcf Milder temperatures point to larger end-April build US natural gas Continue Reading
Global commodities trader Trafigura Group will stop all purchases of crude oil from Russia’s state oil company Rosneft by May 15, a company spokesperson said on Tuesday. The Geneva-based firm Continue Reading
Gazprom says it will keep supplies turned off until Poland and Bulgaria agree to Moscow’s demand to pay for the crucial fuel in rubles. Bloomberg News Russia’s Gazprom PJSC said Continue Reading
Russia may see its oil production fall by as much as 17% in 2022, an economy ministry’s document seen by Reuters showed on Wednesday, as the country struggles with Western Continue Reading
Russia expects the economy to contract by 8.8% in 2022 in its base case scenario, or by 12.4% under a more conservative scenario, an economy ministry document showed on Wednesday, Continue Reading
Series of blasts were heard in the early hours of Wednesday in three Russian provinces bordering Ukraine, authorities said, and an ammunition depot in the Belgorod province caught fire around Continue Reading
Gas prices surged as Russia carried through with its threat to halt flows. Bloomberg News European gas rose after Russia blocked flows to Poland and Bulgaria, sending a warning to Continue Reading
Four European gas buyers have already paid for supplies in rubles as Russia demanded and further cutoffs if others refuse the Kremlin’s requirement aren’t likely until the second half of Continue Reading
Poland’s prime minister has lashed out at Russia for trying to “blackmail” his country with an abrupt cutoff of gas supplies. He says he believes the move was revenge for Continue Reading
Among the sites of the former Soviet Union’s “frozen conflicts,” a long and narrow strip of land in Moldova has been the most stable for three decades. Trans-Dniester hasn’t seen Continue Reading
Russia failed to sell a huge batch of oil, a sign that soon-to-be imposed sanctions against its state oil giant are playing havoc with the energy industry that undergirds its Continue Reading
Gazprom’s announcement on Tuesday that it would suspend natural gas supplies to Poland and Bulgaria is not likely to have a major impact on the overall European gas market, analysts say. But Continue Reading
Russian President Vladimir Putin protested to Kremlin visitors Monday that his adversaries were trying to “win on the battlefield” and “destroy Russia from within.” For once, he wasn’t just being Continue Reading
The European Union is ironing out the details of a potential oil embargo on Russia. A full embargo from the EU could be particularly devastating for Russia’s already-struggling oil industry. Continue Reading
Global commodities giant Trafigura confirmed today that it will stop all crude oil purchases from Russian state-backed Rosneft by May 15th. It is the latest commodities trader to cut ties Continue Reading
Germany has already cut Russian oil imports by over 20%, with officials now spreading optimism that it could be only a matter of days before the country is capable of Continue Reading
Attempt by Russia to use gas as ‘instrument of blackmail’ Meeting of EU gas coordination group taking place now Working to ensure alternative deliveries, high storage European Commission President Ursula Continue Reading
Crude oil futures rose moderately in mid-morning Asian trade April 26 to recoup some losses after China lockdowns and a surging US dollar sent crude prices lower at the start Continue Reading
Oil dropped below $98 a barrel in New York as investors assessed the impact of China’s rapidly spreading Covid-19 outbreak on the outlook for global demand. West Texas Intermediate futures Continue Reading
Oil prices bounced on Tuesday, steadying after a sharp fall of 4% in the previous session, as worries over China’s fuel demand were soothed by the central bank’s pledge to Continue Reading
The crude market isn’t that tight, but the oil market is. The bullish narrative going into the Russian-Ukraine crisis was driven by a short-term perspective and flawed thinking around crude Continue Reading
World Conventional Oil output peaked at a centered twelve month average (CTMA) of 74193 kb/d in July 2016. This peak is unlikely to be surpassed in the future. I do Continue Reading
‘Oil demand is set to shed 1.4 million barrels per day’. The ongoing war in Ukraine, Covid-19 lockdowns in China and surging commodity prices are going to take a significant Continue Reading
For months, Istanbul restaurant Tarihi Balikca tried to absorb the surging cost of the sunflower oil its cooks use to fry fish, squid and mussels. But in early April, with Continue Reading
Libya’s Oil Minister Oun: Libya could resume full production within days. Libya’s NOC declared a force majeure on 550,000 bpd of its production last week. Libya’s oilfields, under force majeure, Continue Reading
Russian and Indian officials met last week in an effort to resolve an impasse over the shipping of coking coal to Indian steelmakers, which has dried up since March over Continue Reading
Colombia’s oil industry has been in a death spiral since the beginning of the COVID-19 pandemic. Growing community and political opposition to Colombia’s oil industry adds an elevated risk to Continue Reading
Families in Beijing rushed to stock up on food. Supermarkets stayed open late. Residents endured long lines for mandatory testing. China’s stock markets plunged.A fresh coronavirus outbreak in China’s capital Continue Reading
Chinese authorities are trying to reassure financial markets battered by a worsening growth outlook and rising Covid lockdowns. China looks increasingly left to its own devices in a bid to Continue Reading
China’s Central Bank Seeks to Calm Markets with Support Pledge China’s Covid crisis is giving fresh impetus to the worries about inflation that have dogged global markets this year. The Continue Reading
China has called on its top producing province to guarantee thermal coal supplies to some of the industrial hubs on the coast threatened by power shortages. Miners in Shanxi have Continue Reading
Oil and natural gas investments are on the rise despite the global push toward renewable energy. The global transition to green energy will need the help of fossil fuels to Continue Reading
Russia said on Monday it would investigate the cause of a large fire that erupted in the early hours of the morning at an oil storage facility in the city Continue Reading
The European Union aims to reduce its dependence on Russian oil and gas by two-thirds by the end of the year and to zero by the end of 2027, EU Continue Reading
Germany’s cabinet on Monday approved a legal amendment that would enable the government to seize ownership of energy companies as a measure of last resort to secure supplies in the Continue Reading
Rosneft failed to sell oil in a jumbo tender after demanding prepayment in roubles, five traders said on Monday, meaning the country’s top oil company will need to find ways Continue Reading
EU member states are looking at whether to impose a ceiling on what they would pay for Russian oil as a way to hit Kremlin revenues, as they shy away Continue Reading
Germany’s industry leaders warn of the negative consequences of a gas import ban. The EU’s refusal to pay directly in rubles tests Putin’s threat to cut off the gas supply, Continue Reading
Highlights One third of supply at risk over compressor disruption: Vitrenko Ukraine gas transit continues as normal despite war Calls for Russian gas payments to be paid into escrow The Continue Reading
