Russia’s Rosneft sold 700,000 tonnes of Urals oil loading from Baltic ports of Primorsk and Ust-Luga in May to Indian Oil Corp (IOC), the country’s top refiner, two traders familiar Continue Reading
Highlights China’s manufacturing activity further contracts in April Overseas demand for Chinese manufactured goods shrinks More easing expected in infrastructure, property sectors Steel demand from China’s manufacturing sector is expected Continue Reading
PetroChina said it plans to boost its exploration and production efforts. Bloomberg News PetroChina Co. isn’t seeking any discounted Russian oil and gas and is only purchasing fuel from the Continue Reading
Xi Jinping has reaffirmed his commitment to China’s controversial zero-Covid strategy, warning against “any slackening” in the effort and vowing to crack down on criticism of the policy despite signs Continue Reading
On a sweltering afternoon in this southern Chinese city, a young woman sat at a stand of giveaways aimed at convincing some of the city’s remaining unvaccinated residents to get Continue Reading
Output per hour slumped an annualized 7.5% in first quarter U.S. Productivity Drops as Labor Costs Jump U.S. productivity dropped in the first quarter by the most since 1947 as Continue Reading
Constructed four generations ago, the massive rock and clay dam at El Capitan Reservoir is capable of storing over 36 billion gallons of water, enough to supply every resident in Continue Reading
Frack crew, supply chain shortages slow growth More bullishness on growth in 2023 Crude oil volumes out of the Permian Basin are still rising to new highs despite supply chain Continue Reading
U.S. fuel prices have surged faster than crude oil prices in the last month, as the United States has shipped more refined products abroad to supply European markets following Russia’s Continue Reading
The United States will take bids this fall to buy back 60 million barrels of crude oil for the U.S. Strategic Petroleum Reserve, the first step in replenishing the stockpile Continue Reading
For the past year, America’s job market has run like a well-engineered machine, adding an impressive average of 540,000 workers a month despite a punishing inflation rate, Russia’s ruinous war Continue Reading
Fanned by relentless winds and fueled by abnormally warm and dry weather, a historically large siege of fires is raging in New Mexico. Yet the state’s fire season still has Continue Reading
After suffering through a wave of bankruptcies during the covid pandemic, the oilfield services sector is bouncing back in a big way as the world attempts to boost oil production. Continue Reading
Deficit to five-year average widens to 306 Bcf NYMEX Henry Hub holds above $8/MMBtu Lower temperatures to limit injections into May Chilly spring weather across much of the country curbed Continue Reading
Germany will show solidarity with European Union countries seeking alternatives to Russian gas and oil, for example helping eastern states without ports in the North or Baltic Seas access liquefied Continue Reading
Finland could become the next country to which Russia may cut off gas supplies. Finland is expected to decide within weeks whether to apply to join NATO. The Scandinavian country Continue Reading
Germany has begun construction on its first LNG import terminal, and in the meantime, has rented four mobile floating tankers as it scrambles to rid itself of the need for Continue Reading
There is no way to trace whether there is Russian crude oil or how much crude from Russia will go into the refined products market globally, Shell’s chief executive Ben 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
Extensive building renovations and the use of heat pumps could nearly halve Europe’s Russian gas use, researchers said on Friday, although industry groups said this would require a substantial increase Continue Reading
The European Union should set an ambitious goal for boosting solar energy capacity across the region as it seeks to free itself from a dependency on Russian gas, according to Continue Reading
Four main corridors see flows of 8.27 Bcm last month Deliveries lower via Ukraine transit corridor on price TurkStream gas flows drop below 1 Bcm in April Physical Russian gas Continue Reading
Boost in demand from China, and India could act as a trigger Biden administration urged to set up escrow accounts Tight global oil supplies complicate enforcement efforts Risks are rising Continue Reading
Oil prices extended gains on Thursday on supply concerns after the European Union laid out plans for new sanctions against Russia, including an embargo on crude in six months, offsetting Continue Reading
Oil advanced ahead of an OPEC+ meeting on supply after surging on the European Union’s plan for a phased ban on Russian crude. West Texas Intermediate rose toward $109 a Continue Reading
Diesel prices hit yet another new record on Wednesday at $5.43 per gallon , now some $1.2 more than a gallon of gasoline, according to AAA. While high prices at Continue Reading
OPEC+ will likely stick to modest oil output increases on Thursday arguing it is not responsible for geopolitics and supply disruptions while stressing its worries over the demand outlook due Continue Reading
OPEC+ sees a surplus of 1.9 million barrels per day (bpd) in 2022, 600,000 bpd higher from a previous forecast, amid expectations of slower demand growth this year, a report Continue Reading
A power crisis in India that’s delivering hours-long blackouts , halting manufacturing lines and triggering street protests is forecast to continue for months, adding pressure on the nation’s economic rebound. Continue Reading
India defended its continued purchases of Russian oil on Wednesday , saying they were part of its long-standing effort to diversify its supplies and arguing a sudden halt to imports Continue Reading
Hong Kong’s retail sales plummeted 13.8% in March, the first back-to-back contraction in more than a year as stringent virus restrictions weighed heavily on the economy and crushed consumer spending. Continue Reading
Activity in China’s services sector fell in April to its weakest level since the early days of the pandemic, according to one indicator, as lockdowns aimed at containing Covid-19 shut Continue Reading
The European Commission on Wednesday proposed one of the most sweeping changes to global energy flows in history. But the oil price barely responded. Brent, the international benchmark, rose 3.8 Continue Reading
U.S. crude oil stockpiles rose unexpectedly last week, while distillate and gasoline inventories dropped again as refiners continue to boost fuel exports to a world in need of supply, the Continue Reading
A global shortage of natural gas is giving U.S. fuelmakers an edge over European rivals. Refiners rely on natural gas as a crucial source of heat to distill crude oil Continue Reading
At a tiny airport surrounded by mountains, a three-person crew takes off for the inaugural flight above the headwaters of the Colorado River to measure the region’s snow by air. Continue Reading
The Henry Hub natural gas benchmark settled at $8.415 a million British thermal units on Wednesday, more than double the price at the start of the year and far above Continue Reading
Request concurrent with FMC audit into carrier export practices Letter comes amid shipper-led complaints against carriers US FAK import rates remain eight-fold higher than exports US Senators Dianne Feinstein and Continue Reading
The Swiss government is setting up a gas sector crisis intervention group and a monitoring system for early detection of an impending electricity shortage, it said on Wednesday, as it Continue Reading
U.S. President Joe Biden on Wednesday said he would speak with other leaders from the Group of Seven advanced economies this week about potential additional sanctions against Russia over its Continue Reading
Kremlin said the plan will be very costly for the bloc Von Der Leyen Says EU Plans to Phase Out Russian Oil Bloomberg News The European Union’s proposal to ban Continue Reading
The European Union aims to cut off Sberbank (SBER.MM) , Russia’s largest lender, from the SWIFT international payment system as Western allies seek to further isolate Moscow from financial markets Continue Reading
The Kremlin on Wednesday dismissed speculation that President Vladimir Putin planned to declare war against Ukraine and declare a national mobilisation on May 9 when Russia commemorates the Soviet Union’s Continue Reading
Sweden has received assurances from the United States that it would receive support during the period a potential application to join NATO is processed by the 30 nations in the Continue Reading
Across Europe, rising energy prices are testing the resolve of ordinary consumers and business owners who are caught between the continent’s dependence on cheap Russian energy and its revulsion over Continue Reading
A series of attacks inside Russian territory and unexplained explosions at Russian targets near the border with Ukraine have expanded the scope of the conflict in recent weeks, underscoring Russian Continue Reading
The United States has provided intelligence about Russian units that has allowed Ukrainians to target and kill many of the Russian generals who have died in action in the Ukraine Continue Reading
Russia’s oil output is plummeting, and the decline is expected to worsen in May. OPEC recently warned that markets could see the loss of more than 7 million barrels per Continue Reading
Would only commission one line if Germany reverses opposition Second line would only be available from 2028 Nord Stream 2 certification process currently suspended Russia’s Gazprom said May 5 it Continue Reading
Oil prices jumped on Wednesday as the European Union, the world’s largest trading bloc, spelled out plans to phase out imports of Russian oil, offsetting demand worries in top importer Continue Reading
