Sergei Shoigu, the consummate survivor of Russian politics, has always had a knack for PR.The 66-year-old Russian defense minister for years presided over theatrical exercises, rattled off statistics about personnel, Continue Reading
Estimated 1 mil b/d impact not intended sanctions consequence Indian refiners still have an appetite for Russian crude OPEC spare capacity could reach ‘alarming’ point Western economic and financial sanctions Continue Reading
OPEC+ concludes Ministerial meeting with very small additional production increase. OPEC leaves EU ban of Russian crude undiscussed. EU sanction drive against Russia has proved to be a boon for Continue Reading
A rocket attack Sunday night damaged a storage tank at a refinery complex in Erbil — highlighting what appears to be an escalating threat against the Iraqi Kurdish company KAR Continue Reading
An oil field near Zacho, Iraq. Iraq said it will start implementing a court ruling that gives the federal oil ministry oversight of Kurdish production after failed talks with officials Continue Reading
Wheat sacks in the Ludhiana district of Punjab, India. Global wheat prices are so high that African consumers are starting to ditch the grain from their diet. Food producers in Continue Reading
Conex Energy Inc., the sole company supplying jet fuel to airlines coming to Liberia has alerted the shortage of jet fuel in the region as a result of the Russia-Ukraine Continue Reading
Nigeria will become the first nation to ground flights on Monday as surging prices for aviation fuel make the business unprofitable. Airline operators “will discontinue operations nationwide” until further notice, Continue Reading
Toyota Group plans to invest 48 billion rupees ($624 million) to make electric vehicle components in India, as the Japanese carmaker works toward carbon neutrality by 2050. Toyota Kirloskar Motor Continue Reading
For weeks, Beijing has teetered on the edge of a hard, Covid-induced lockdown. For the most part, citizens are unruffled, confident that the restrictions that have paralyzed Shanghai for six Continue Reading
The director of the CIA said that Chinese President Xi Jinping has been “unsettled” by the war in Ukraine, which had demonstrated that the friendship between Beijing and Moscow had Continue Reading
China’s lockdowns to contain Covid have snarled operations at the world’s largest port in Shanghai and stalled activity in major cities, affecting the supply chains of businesses from Tesla Inc. Continue Reading
Shanghai authorities were tightening the city-wide COVID lockdown they imposed more than a month ago, prolonging into late May an ordeal that China’s capital Beijing was desperate to avoid by Continue Reading
Power grids are feeling the strain as the U.S. moves away from conventional power plants. From California to Texas to Indiana, electric-grid operators are warning that power-generating capacity is struggling Continue Reading
The Biden administration has urged the industry to step up production. Oil prices are at their highest in years and politicians want companies to pump more. But most large American Continue Reading
U.S. Senate Judicial Committee passed the NOPEC bill on Thursday. Washington ups the ante on former Middle East allies. The NOPEC bill could have serious consequences for OPEC as a Continue Reading
Gazprom PJSC has written to its European clients seeking to reassure them that they can keep paying for gas without breaching sanctions, the latest indication that Russia may be trying Continue Reading
Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as worries about tightening supplies underpinned prices ahead of an impending European Union Continue Reading
Warmer than usual spring weather, expectations of a hotter summer, and record LNG exports to help Europe reduce dependence on Russian gas could send the U.S. benchmark natural gas prices Continue Reading
Oil settled at the highest in nearly three weeks after a volatile session that saw the market eventually pivot back to supply concerns stemming from a European Union proposal to Continue Reading
Oil markets are once again on edge about potential supply disruptions. The continued efforts by the EU to ban Russian oil imports and the renewed efforts by the U.S. Senate Continue Reading
A growing food security threat is set to push Indian Prime Minister Narendra Modi into a conundrum: continue sending wheat to countries hit by dwindling supplies from the war in Continue Reading
China is setting up thousands of permanent PCR testing stations, with 9,000 already completed in Shanghai alone, as authorities seek to “normalise” tough pandemic controls even after the current round Continue Reading
Chinese tech companies are quietly pulling back from doing business in Russia under pressure from U.S. sanctions and suppliers, despite calls by Beijing for companies to resist overseas coercion. Several Continue Reading
U.S. gas prices have surged to the highest level in real terms since the financial crisis in 2008 as strong demand for LNG from buyers in Europe and Asia puts Continue Reading
Gasoline futures in New York settled at a record high on Friday, three weeks before the start of the U.S. summer driving season. At $3.76 a gallon, the futures are Continue Reading
Employers are trying to hire from an unusually tight pool of workers available. Former Treasury Secretary Lawrence Summers discusses the Federal Reserve’s policy meeting and the outlook for U.S. growth Continue Reading
The number of total active drilling rigs in the United States rose by 7 this week, after an increase of 3 rigs in the week prior, according to new data Continue Reading
California energy officials on Friday issued a sober forecast for the state’s electrical grid, saying it lacks sufficient capacity to keep the lights on this summer and beyond if heatwaves, Continue Reading
Russia’s invasion of Ukraine has shown once and for all that we must get off fossil fuels—fast. Heat pumps are a big part of the solution to stopping burning them Continue Reading
Even before home energy costs began spiking this winter, David Moon had faced eye-popping bills to keep his Westchester, New York, house warm as his monthly heating oil tab approached Continue Reading
US stocks have suffered the worst streak of weekly losses in more than a decade after days of tumultuous trading surrounding the Federal Reserve’s decision to raise interest rates by Continue Reading
Hundreds of feet below a remote forest near Hudson Bay, Serge Abergel inspected the spinning turbines at the heart of the biggest subterranean power plant in the world, a massive Continue Reading
Highlights Lake Powell water supply forecast at 59% of normal Lower Colorado River Basin ranges from 58% to 97% June on-peak power forwards reach package highs May 5 Southwestern snowpack Continue Reading
The European Commission has proposed changes to its planned embargo on Russian oil in a bid to win over reluctant states, three EU sources told Reuters on Friday. The tweaked Continue Reading
Highlights 114 arrivals last month, compared to 94 in March Russia supply uncertainty prompts cargo deliveries The number of LNG ships arriving into Europe rose more than 20% in April Continue Reading
President Vladimir Putin will send a “doomsday” warning to the West when he leads celebrations on Monday marking the 77th anniversary of the Soviet Union’s victory over Nazi Germany, brandishing Continue Reading
Russia narrowly avoided a debt default last week, but markets are still priced like it’s on the brink. Bonds are stuck at distressed levels and five-year credit default swaps put Continue Reading
Crude oil futures climbed for the third straight session during mid-morning Asian trade on May 6, erasing earlier losses, as concerns lingered over the prospect of tighter supply after the Continue Reading
Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as worries about tightening supplies underpinned prices ahead of an impending European Union Continue Reading
Global food prices held near a record as crop trade is disrupted by the war in Ukraine, exacerbating tight supplies and stoking inflation. Russia’s invasion has reduced exports from Ukraine Continue Reading
A vast reservoir of ancient water has been found thousands of feet under the ice in western Antarctica, scientists said in a paper published Thursday in the journal Science. Researchers Continue Reading
Libya’s Zueitina port has received its first oil tanker after temporarily lifting force majeure last week to free up storage space. While Libya’s National Oil Company (NOC) did not issue Continue Reading
Almost half the shortfall in planned oil supply by OPEC and its allies is down to Nigeria and Angola, data seen by Reuters shows, reflecting a number of factors including Continue Reading
The number of people who died as a result of the coronavirus pandemic by the end of last year may be nearly three times higher than thought, according to estimates Continue Reading
Almost three times as many people have died as a result of COVID-19 as official data show, according to a new World Health Organization (WHO) report, the most comprehensive look Continue Reading
India is planning to reopen more than 100 coal mines previously considered financially unsustainable, a government official said on Friday, as a power crisis forces the world’s third-biggest greenhouse gas Continue Reading
India’s government ordered coal-fired power plants that run on imported fuel to operate at full capacity to address an escalating energy crisis that’s threatening economic growth. The government took the Continue Reading
Several states yet to act on imports States asked to import 21.8 mil mt, private plants 15.9 mil mt Country invokes rarely used fiat to increase power generation India’s power Continue Reading
Venezuela’s oil exports fell 8% in April from the previous month amid continued delays linked to poor-quality crude grades and insufficient oil upgrading capacity available, according to documents and vessel Continue Reading
