Oil slumped nearly 5% to the lowest in almost two weeks on Monday, extending last week’s decline as concern grew that prolonged COVID-19 lockdowns in Shanghai and potential increases to Continue Reading
Oil fell at the start of the week on concerns that a spreading Covid-19 outbreak in top consumer China will weigh on global demand. West Texas Intermediate futures slid almost Continue Reading
The global market for LNG has turned from a buyer’s market to a seller’s market. The West’s push to diversify away from Russian gas has created a particularly tight LNG Continue Reading
Indonesia is halting palm oil exports in the midst of high inflation, weather woes and tight supplies Hundreds of people line up to get cooking oils in Palembang, Indonesia on Continue Reading
Nigeria’s president has said the country is in “shock and trauma” following the deaths of at least 100 people from an explosion at an illegal oil refinery. President Muhammadu Buhari Continue Reading
Algeria, Spain embroiled in dispute over Western Sahara Algeria’s Sonatrach may increase gas price paid by Spain’s Naturgy Spain seeking to become a gas hub for Europe Algeria, which is Continue Reading
Beijing kicks off first of three rounds of mass testing in populous district Mass testing fuels concerns of shortages of food, supplies Chinese stock market down on fears Beijing may Continue Reading
Port congestion in China is prompting more vessels to refuel at the country’s ports as the worsening Covid-19 outbreak forces the reconfiguration of shipping routes. China supplied 4.9 million metric Continue Reading
In China, the fertile soil is a product of the region’s geography and its special history. A Mao-era campaign to end famine tapped the country’s most fertile land. Now President Continue Reading
Yang Wenhui should be a proud example of China’s rise from economic rubble to global powerhouse. Growing up poor, he ate so much cabbage that he didn’t touch it again Continue Reading
A push to go electric is sowing discord among landscapers. New state and municipal laws are driving a transition away from puttering, gas-powered lawn mowers and leaf blowers and toward Continue Reading
Along this stretch of the Gulf Coast where wetlands yield to fuel and petrochemical plants, chatter has predictably turned to Europe’s energy dilemma, with giddy projections that it will feed Continue Reading
Rigzone speaks to the Department of the Interior, the National Ocean Industries Association, the Energy Workforce and Technology Council and Fitch Solutions. According to the Department of the Interior (DOI), Continue Reading
Around 40% of German companies are already feeling the impact of rising energy prices and almost half want to reduce investments due to rising energy costs, a survey showed on Continue Reading
The European Union is preparing “smart sanctions” against Russian oil imports, The Times reported on Monday, citing the European Commission’s executive vice president, Valdis Dombrovskis. “We are working on a Continue Reading
There is insufficient support from European Union member states for a complete embargo or punitive tariff on Russian oil and gas imports, the EU’s top diplomat Josep Borrell was quoted Continue Reading
The Russian rouble opened stronger on Monday, firming past 74 against the dollar, helped by tax payments that companies are due to make this week and as the market looked Continue Reading
Britain’s cost-of-living squeeze is starting to bite into the spending power of most parts of the country, with 43% of those who pay energy bills saying they will struggle with Continue Reading
Americans are worrying about their gas prices. Germans are turning down their heating. Peru has seen violent protests — and a violent crackdown on them — over rising fuel costs. Continue Reading
Algeria, Spain embroiled in a dispute over Western Sahara Algeria’s Sonatrach may increase gas price paid by Spain’s Naturgy Spain seeking to become a gas hub for Europe Algeria, which Continue Reading
Shanghai authorities battling an outbreak of COVID-19 have erected fences outside residential buildings, sparking a fresh public outcry over a lockdown that has forced much of the city’s 25 million Continue Reading
It appears that the decline of coal, the dirtiest of all the fossil fuels, has been somewhat exaggerated in recent years, with the current energy shortage causing demand to soar. Continue Reading
Russian gas producer Gazprom (GAZP.MM) said it was supplying natural gas to Europe via Ukraine on Sunday in line with requests from European consumers. Requests stood at 51.7 million cubic Continue Reading
U.S. oilfield services firm Halliburton Co (HAL.N) on Friday warned it may face the Russian government’s seizure of its $340 million in assets in the country and a future charge Continue Reading
One third of gas exports from Russia to the European Union via Ukraine could be lost if Russian forces continue disrupting operations in newly occupied areas, the head of Ukraine’s Continue Reading
Ukraine has asked the International Atomic Energy Agency for “a comprehensive list of equipment” it needs to operate nuclear power plants during the war with Russia, IAEA Director General Rafael Continue Reading
Ukraine has repelled numerous Russian assaults along the line of contact in Donbas this week, a British military update said on Sunday. Despite Russia making some territorial gains, Ukrainian resistance Continue Reading
The prospect of Europe getting cut off from Russian gas supplies is starting to get real. The clock is ticking in a standoff over the Kremlin’s demand that its customers Continue Reading
EU ban on Russian crude may create massive problems for the global refinery system. Depending on speed of phase-out, more than 3 million bpd of Russian oil production could be Continue Reading
Oil slipped on Friday, posting a weekly loss of nearly 5%, on the prospect of weaker global growth, higher interest rates and COVID-19 lockdowns in China hurting demand even as Continue Reading
Morgan Stanley raises amount of lost Russian supply to 2 million bpd. Morgan Stanley adjusts its forecast for returning Iranian supply. Morgan Stanley revised its oil price forecast upwards for Continue Reading
Standard Chartered analysts warned that they think there is a significant downside risk to 2022 oil demand growth. In a new report sent to Rigzone this week, Standard Chartered forecasted Continue Reading
Member countries of the International Energy Agency will be releasing a total of 182.7 million barrels of oil from emergency stocks over six months, of which 74 percent will come Continue Reading
Global oil demand will drop by 1.4 million barrels per day, according to the latest forecast by Rystad Energy on Friday cited by the National. The 1.4 million bpd loss Continue Reading
Rates are stalling in most low-income countries well short of the W.H.O.’s goal to immunize 70 percent of people in every nation. Some public health experts believe the momentum is Continue Reading
Western sanctions are creating new challenges for Russia in Iraq, according to several industry officials, who said Russian companies have had trouble making and receiving payments and faced hesitancy from Continue Reading
Oman, the biggest Middle East oil producer outside OPEC, increased its total monthly crude production by 12.2% in March from February, official data showed, amid a higher OPEC+ quota. Receive Continue Reading
Rival regional powers Iran and Saudi Arabia resumed talks in the Iraqi capital after they were suspended in March, Iran’s semi-official Nour News reported on Saturday. There was no confirmation Continue Reading
India proposed a battery-swapping program to expedite the adoption of electric scooters and rickshaws as it tries to curb pollution and tackle climate change. The policy, which will be valid Continue Reading
Indian private conglomerate Reliance Industries has purchased at least 15 million barrels of discounted Russian crude since the start of the Russian invasion of Ukraine, Reuters reported on Friday, citing Continue Reading
Indonesia’s new palm oil export ban will hurt other countries but is necessary to try to bring down the soaring domestic price of cooking oil driven up by Russia’s war Continue Reading
China’s major financial hub of Shanghai reported more new COVID-19 related deaths on April 22, as residents vented their anger over a harsh lockdown and strict censorship online. Shanghai’s full-city Continue Reading
For weeks, Shanghai has made international headlines as a Covid-19 outbreak has forced the city’s 25 million residents to lockdown in their homes, many in severe distress over how to Continue Reading
Li Huixiang, a property broker in the central Chinese city of Zhengzhou, had been looking forward to a bumper March. In an effort to boost the city’s flagging property sector Continue Reading
China’s crude demand in April is expected to have declined 1.2 million bpd year-on-year. China’s gasoline, diesel, and jet fuel demand is set for a 20-percent plunge this month compared Continue Reading
China’s reliance on Middle Eastern crudes grew sharply in the first quarter of 2022, as the country reduced inflows from Russia, Brazil and the US, data from the General Administration Continue Reading
India trade group U.S. urges cooperation rather than export bans Indonesian govt under pressure to control cooking oil prices Global prices at records this year after Indonesian curbs Edible oils Continue Reading
U.S. climate envoy John Kerry on Thursday put natural gas on notice, saying the world’s reliance on the fossil fuel should be limited to potentially a decade, unless its greenhouse Continue Reading
The number of total active drilling rigs in the United States rose by 2 this week, after an increase of 4 rigs in the week prior, according to new data Continue Reading
Oil Analyst Sen Sees Rising Risk as SPR Impact Fades The global oil industry is on pace to repeat or even surpass the heady days of 2008 when crude ascended Continue Reading
