Russia’s Rosneft recommends record dividend on 2021 results
Russian oil producer Rosneft (ROSN.MM) said on Monday that it would pay a record dividend of 41.66 roubles ($0.63) per share on its 2021 results, or 50% of its net Continue Reading
EU’s Borrell hopeful of deal on Russian oil ban
European Union members should be able to reach an agreement on a new sanctions package against Russia, including imposing restrictions on Russian oil imports, during talks being held by officials, Continue Reading
EU summit to agree sanctions should include Russian oil embargo with pipeline exemption – draft
European Union leaders are due to agree at a summit later in the day that the sanctions package under preparation should include an embargo on Russian oil imports as punishemnt Continue Reading
UK says Russia suffers devastating losses among lower-ranked officers
Russia appears to have suffered devastating losses amongst mid- and junior-ranking officers in its conflict with Ukraine, raising the prospect of weaker military effectiveness in future, Britain’s defense ministry said Continue Reading
Russia to service foreign debt using gas-for-roubles type scheme -Vedomosti
Russia plans to settle its Eurobond obligations using a mechanism similar to the scheme used to pay for Russian gas in roubles, the Vedomosti newspaper reported, citing Finance Minister Anton Continue Reading
Russia to service foreign debt using gas-for-roubles type scheme -Vedomosti
Russia plans to settle its Eurobond obligations using a mechanism similar to the scheme used to pay for Russian gas in roubles, the Vedomosti newspaper reported, citing Finance Minister Anton Continue Reading
Europe’s unity ‘crumbling’ on Russia sanctions, Germany warns
Europe’s unity on sanctions against Russia is “starting to crumble”, Germany’s economy minister has warned as diplomats highlight continued divisions over a package of sanctions set to be discussed by Continue Reading
Serbia’s president says agrees to new 3-year gas deal with Russia
Price, volumes yet to be finalized Current contract linked to oil prices Kremlin says Russia agreed to uninterrupted supplies to Serbia Serbian President Aleksandar Vucic said May 29 that a Continue Reading
How Will UK Windfall Tax Hit Big Oil Cash Flows?
The new UK oil and gas upstream levy will hit Big Oil group cash flows by less than four percent, even at the most exposed end. That’s what BofA Global Continue Reading
Iraq is looking to boost its oil production capacity to 5 million b/d by 2025: minister
Iraq to further ramp up capacity to 8 mil b/d by 2028 Ihsan Ismaael has given conflicting timelines for capacity ramp-up Iraq is seeking IOC help to develop its fields Continue Reading
Can Egypt And Israel Fill The European Energy Vacuum?
Israel may boost gas exports to the EU through Egypt. increased energy trade is an opportunity to improve relations between Brussels and Cairo. Brussels is trying to entice East Med Continue Reading
Severe water shortages strain wheat harvest in Iraq
Salah Chelab crushed a husk of wheat plucked from his sprawling farmland south of Baghdad and inspected its seeds in the palm of one hand. They were several grams lighter Continue Reading
Early Arrival of Monsoon Rains in India Brightens Crop Outlook
A man walks across the dried bed of the Belan river on May 20. The monsoon arrived earlier than normal in India, raising hopes that output of crops like rice Continue Reading
Coal India to import for first time in years as power shortages loom
State-run Coal India (COAL.NS) , the world’s largest coal miner, will import the fuel for use by utilities, a power ministry letter seen by Reuters showed on Saturday, as shortages Continue Reading
Monsoon rains lash India’s Kerala coast, two days ahead of usual
India’s annual monsoon, which delivers about 70% of the country’s rainfall, arrived on the coast of southern Kerala state on Sunday, the state-run India Meteorological Department said, two days ahead Continue Reading
Shanghai to lift ‘unreasonable’ curbs on firms, Beijing eases restrictions
Shanghai said on Sunday “unreasonable” curbs on businesses will be removed from June 1 as it looks to lift its COVID-19 lockdown, while Beijing reopened parts of its public transport Continue Reading
US Economic Data Signals Firmer Growth That May Ease by Yearend
Consumer spending off to a solid start early in second quarter Manufacturing gauges soften, while housing market stumbles An employee adjusts diamond jewelry in the window of a store in Continue Reading
Car-Insurance Bills Are Rising, With More Increases to Come
Car insurers have struggled as driving and accidents have rebounded from pandemic lows. Car owners need to buckle up: Higher premiums are starting to arrive as insurers get state approval Continue Reading
Bottleneck Fuels Record-High Gas Prices
Demand for gasoline and diesel has all but recovered from pandemic lows in the U.S. A shortage of fuel-making facilities is pushing U.S. gasoline and diesel prices to record levels, Continue Reading
Second Planned Burn Contributed to New Mexico’s Largest Wildfire, Forest Service Says
Firefighters doused trees along a road near Las Vegas, N.M., earlier in May. Two New Mexico fires that merged into the largest wildfire in state history were each sparked by Continue Reading
Covid-weary Americans enter Memorial Day with little effort to contain a still-raging pandemic
For the third year, Americans are greeting the unofficial start of summer shadowed by the specter of the coronavirus amid rising covid-19 cases and hospitalizations across the country. The United States is Continue Reading
Europe’s Push to Punish Putin Is Falling Short of the Rhetoric
As the European Union’s impasse over its supposedly imminent Russian oil embargo stretched into days and then weeks, one ambassador quoted Samuel Beckett’s play “Waiting for Godot” to his colleagues: Continue Reading
Russia’s Gazprom continues shipping gas to Europe via Ukraine
Russian gas producer Gazprom (GAZP.MM) said on Sunday its supply of gas to Europe through Ukraine via the Sudzha entry point stood at 44.1 million cubic metres (mcm), up from Continue Reading
Ukraine get missiles, howitzers as Zelenskiy expects good news on arms
Ukrainian Defence Minister Oleksii Reznikov attends a meeting with Ukraine’s President Volodymyr Zelenskiy, U.S. Secretary of State Antony Blinken and U.S. Defense Secretary Lloyd Austin, as Russia’s attack on Ukraine Continue Reading
Russia’s Whipsaw Week Ends With Default Clock Ticking
Russia is back in default countdown, with another bond payment in question and the Kremlin fighting to find an escape route. As of Friday evening, coupon payments in euros and Continue Reading
European leaders urge Putin to unblock Ukraine’s grain supplies
European leaders have stepped up diplomatic efforts to loosen Russia’s hold on Ukraine’s grain supplies as Kyiv’s prospects in the eastern Donbas region worsen and the risk of a global Continue Reading
In War of Weapons, Ukraine Tries to Match Russia’s Power – The New York Times
Ukraine has declared that it is mounting a counteroffensive to reclaim territory around the southern port city of Kherson, as Russia devotes the bulk of its forces to pounding eastern Continue Reading
Drones. Crutches. Potatoes. Russians Crowdfund Their Army.
Russian soldiers in April in downtown Mariupol, Ukraine. There is growing recognition among Russians that their military was woefully underprepared for major conflict.Credit…Sergei Ilnitsky/EPA, via Shutterstock Natalia Abiyeva is a Continue Reading
Oil Settles at Highest in 11 Weeks Amid Tight Global Market
Oil posted a fifth straight weekly gain to close at the highest since early March on continued signs of tight fuel inventories as Americans head into summer driving season. West Continue Reading
Brent could push past $150 per barrel if Russian oil exports shrink, Bank of America says
Global oil benchmark Brent crude could rise past $150 a barrel if there is a sharp contraction in Russian oil exports, Bank of America (BofA) Global Research said on Friday. Continue Reading
Fertilizer Prices Drop 30% Following Demand Destruction
Tracking the Fertilizer Supply Squeeze Fertilizer prices that had hit records are now plunging as buyers reel from sticker shock, but that doesn’t mean the market squeeze is over. The Continue Reading
G7 calls on OPEC to play key role to ease global energy supplies
Ministers from the Group of Seven countries on Friday called on OPEC to act responsibly to ease a global energy crunch brought on by the Russian invasion of Ukraine, even Continue Reading
Iran seizes 2 Greek tankers in Persian Gulf as tensions rise
Iran’s paramilitary Revolutionary Guard seized two Greek oil tankers Friday in helicopter-launched raids in the Persian Gulf, officials said. The action appeared to be retaliation for Athens’ assistance in the Continue Reading
India seen facing wider coal shortages, worsening power outage risks
India is expected to face a wider coal shortage during the quarter ending September over expectations of higher power demand, an internal power ministry presentation seen by Reuters showed, worsening Continue Reading
India oil cos’ $125.5 mln dividend from oil assets stuck in Russia
Indian companies with stakes in two Russian assets are unable to repatriate 8 billion roubles ($125.49 million) in dividends due to tough western sanctions, an official at Oil India Ltd Continue Reading
U.S. renews Chevron’s Venezuela license through November under same restrictions
The U.S. Treasury Department on Friday renewed a license to oil producer Chevron Corp (CVX.N) to operate in U.S.-sanctioned Venezuela through the end of November under the same restricted terms Continue Reading
High gas prices, energy security fears impede decarbonisation push
Energy security has become a top priority for importers as forecasts of tighter gas supplies and volatile prices in the next few years are keeping buyers on edge and impeding Continue Reading
Shanghai lockdown: Residents demand release, and some get it |
On a balmy Sunday night, residents of an upscale Shanghai compound took to the streets to decry lockdown restrictions imposed by their community. By the following morning, they were free Continue Reading
China’s LNG imports set for first big decline as demand wanes
China’s imports of liquefied natural gas (LNG) are on track to post their first major decline this year, as high prices and weak manufacturing due to COVID-19 lockdowns crimp demand Continue Reading
U.S. oil & gas rig count falls for first time in 31 weeks -Baker Hughes
U.S. energy firms cut oil and natural gas rigs this week for the first time in 31 weeks, but the rig count rose for a record 22nd month in a Continue Reading
Most of U.S. West Is in Severe Drought as Peak Wildfire Season Looms
The drought has pushed down reservoir levels in many places across the West, including the Castaic Lake reservoir in Los Angeles County. The American West is locked in its worst Continue Reading
Gas Prices Hit New Highs as Summer Driving Season Starts
With the Russian invasion of Ukraine grinding on, drivers will have to shell out a lot more to fill up their cars as the summer travel season begins this Memorial Continue Reading
Record spot gas demand puts US South Central storage build at risk this summer
Inventories at 124 Bcf, or nearly 14% below average Record power burns fuel salt dome withdraws in May Henry Hub winter, summer gas prices trade at parity Already depleted gas Continue Reading
FERC Approves Gas Pipeline Projects To Increase U.S. Exports
In the first quarter of 2022, the FERC approved three projects intended to increase U.S. natural gas exports via pipeline and as LNG. The U.S. Energy Information Administration recently updated Continue Reading
Shoppers Are Fretting. Stores Are Listening.
Walmart WMT 1.97%▲ is stocking more half gallons of milk for shoppers who can’t afford a full gallon. Procter & Gamble PG 1.53%▲ is touting a dish-soap bottle that allows users to save money by extracting every Continue Reading
Car-Insurance Bills Are Rising, With More Increases to Come
Car insurers have struggled as driving and accidents have rebounded from pandemic lows. Car owners need to buckle up: Higher premiums are starting to arrive as insurers get state approval Continue Reading
Flight Cancellations Pile Up Heading Into Memorial Day Weekend
U.S. airlines canceled hundreds of flights as a combination of severe weather and staffing challenges disrupted the start of Memorial Day weekend travel. More than 1,100 flights both within the Continue Reading
Ukraine demands Germany cut or halt Nord Stream 1 gas flows
Ukraine’s state gas company and gas infrastructure operator have issued a demand to the German government to either halt or severely curtail gas flows through the Nord Stream 1 pipeline, Continue Reading
EU may clinch summit deal to embargo Russian oil shipments
EU countries scrambled on Friday to reach a deal that would embargo seaborne deliveries of Russian oil but still allow deliveries by pipeline, a compromise to win over Hungary and Continue Reading
Russia Faces Biggest Debt Test Yet After US Ban on Payments
Russia’s ability to sidestep its first foreign default in a century is turning more fraught as another payment comes due on the warring nation’s debt. Investors are supposed to receive Continue Reading