Russia’s seaborne crude exports plunged last week, but the drop probably doesn’t indicate that sanctions are starting to bite. Flows from Russian ports were down week-on-week by 20%, falling to Continue Reading
Russia has improved the quality of its flagship Urals crude grade in the past two months, making it lighter and sweeter, and even more attractive for buyers in Asia who Continue Reading
Group of Seven nations are discussing a cap on the price of Russian oil. Group of Seven nations are discussing a cap on the price of Russian oil that would Continue Reading
Russia’s reliance on foreign software to run its factories, farms and oil fields is turning into one of the biggest headaches for domestic industry as more IT providers pull out Continue Reading
Oil prices edged down on Monday in a volatile session as investors stood on guard for any moves against Russian oil and gas exports that might come out of a Continue Reading
Oil fluctuated above $107 a barrel as investors monitored developments from the gathering of Group of Seven leaders, while fears of a demand-sapping recession continued to hang over the market. Continue Reading
Growing uncertainty over economic growth is beginning to weigh on the oil price rally. Slowing demand and the historic strategic petroleum reserve release have been major factors in the selloff. Continue Reading
Signs of an economic slowdown are emerging in different parts of the world. Kemp: demand destruction is about to become pronounced in diesel fuel demand. Goldman Sachs: it may take Continue Reading
A worker arranges freshly baked bread for sale at the Al-Monira market in Cairo, Egypt. Sign up for our Middle East newsletter and follow us @middleeast for news on the Continue Reading
Highlights Eyes around 500,000 b/d in increase in next two months OPEC may not raise output quotas at August meeting Nigeria is increasing crude oil production and has set a Continue Reading
India’s flood-hit areas are forecast to receive heavy rains this week, with 532 people losing their lives so far across the nation during the monsoon season and hundreds of thousands Continue Reading
Ecuador will likely suspend oil production completely within 48 hours if road blocks and vandalising of oil wells continue, Bloomberg News reported on Sunday, citing an emailed statement from the Continue Reading
Delivered cargo assessments for Latin America gasoline were sharply lower June 24 than record highs set weeks earlier, but ultra low sulfur diesel prices remained close to record highs set Continue Reading
WATCH: China’s economy showed some improvement although there are still a lot of questions about the recovery. Enda Curran reports. Bloomberg News Sign up for the New Economy Daily newsletter, Continue Reading
Japan is asking Tokyo residents to conserve power, with unusually hot weather stretching the city’s grid as fears increase that the heat could last for longer. Electricity supply in the Continue Reading
For decades, China’s expanding middle class had but one option to get ahead:neijuan, or joining the rat race of relentless competition. Then, a surprising strain of resistance sprouted among the Continue Reading
Leaders of the G7, including US President Joe Biden (L) and UK Prime Minister Boris Johnson (R), proposed a plan geared towards competing with China’s Belt and Road Initiative G7 Continue Reading
Chinese imports of LNG from the U.S. plunged by 95% between February and April. Most U.S. LNG spot cargoes were headed to Europe at the beginning of 2022. Russia could Continue Reading
Asia-Pacific economies are facing an energy crisis that threatens to worsen in coming months and reach historic proportions if the Russia-Ukraine war continues. The magnitude of the crisis varies in Continue Reading
China’s capital city is offering subsidies for purchases of new-energy vehicles to replace old cars, the latest attempt by local authorities to boost consumption in a slowing economy. The financial Continue Reading
A guest post by Ovi Each month the EIA produces four reports which project oil output for the US and the World. The Short Term Energy Outlook (STEO) forecasts oil Continue Reading
The rapidly growing space industry may have a greater climate effect than the aviation industry and undo repair to the protective ozone layer if left unregulated, according to a new Continue Reading
June 27 (Reuters) – U.S. shale oil producers are returning to existing wells and giving them a second, high-pressure blast to lift output for a fraction of the cost of Continue Reading
Staffing shortages, schedule changes and higher fares are adding new frustrations to the weather woes that often lead to travel turbulence in the U.S. during the summertime . Crowds are Continue Reading
High gasoline prices are prodding more people to consider an electric vehicle. But car shoppers are likely to face sticker shock at the dealership, too. Auto makers have been raising prices on Continue Reading
The EPA is considering a new label for parts of the Permian Basin that could deter or slow oil and gas drilling in certain parts of the prolific Permian Basin. Continue Reading
Leaders of the Group of Seven rich democracies are having “very constructive” discussions on a possible cap on Russian oil imports, a German government official said on Saturday shortly before Continue Reading
The French government could restart a coal-fired power plant in the Lorraine region in north eastern France this winter, France’s energy ministry said in a written statement Sunday, confirming a Continue Reading
Joe Biden and Olaf Scholz on the first day of the Group of Seven (G-7) leaders summit, June 26. Bloomberg News Group of Seven leaders will commit to providing indefinite Continue Reading
Tankers moored dockside at the port in Tuapse, Russia. Source: Bloomberg Want the lowdown on European markets? In your inbox before the open, every day. Sign up here . Group Continue Reading
The Group of Seven nations, a bloc of the world’s wealthiest states, plans to impose a ban on imports of Russian gold, US President Joe Biden said in a tweet Continue Reading
WATCH: Russia has defaulted on its foreign-currency sovereign debt for the first time since 1918. Su Keenan reports. Russia defaulted on its foreign-currency sovereign debt for the first time in Continue Reading
Lower Russian gas flows are leaving Germany in a dangerous situation, but whether this turns into a full-blown energy crisis may depend on how willing European partners are to spread Continue Reading
European natural gas prices rose as Russia’s deep supply cuts are slowing the pace of refilling storage sites, threatening to fall short of the levels required to keep homes warm Continue Reading
European Union governments are poised for a fight over the the size of a fund designed to cushion some consumers from costs in a new carbon market, with France to Continue Reading
For years, BASF SE , BASFY 2.18%▲ one of the world’s largest chemicals companies, built its business model around cheap and plentiful Russian natural gas, which it uses to generate Continue Reading
Nato is to agree an overhaul of its battle plans to offer better protection to the alliance’s eastern flank, tearing up a model that could have meant relinquishing and then Continue Reading
Highlights Follows European Parliament approval on June 23 EU stocks currently at 55.7% of capacity European gas prices remain at sustained highs The EU’s new rules on minimum gas storage Continue Reading
A group of leading German companies along with Australia’s Fortescue Future Industries (FFI) has released a green hydrogen roadmap, outlining a set of recommendations for government and industry, to meet Continue Reading
Airbus and Linde, a leading global industrial gases and engineering company, have signed a Memorandum of Understanding (MoU) to work on the development of hydrogen infrastructure at airports worldwide. The Continue Reading
Oil Heads for Second Weekly Loss in a Row Oil posted its first back-to-back weekly loss since early April as fears of a demand-sapping global recession and tighter US monetary Continue Reading
The world’s most-watched oil data report won’t be released this week due to a power problem. Oil prices, meanwhile, are climbing higher on Friday to cancel out losses from earlier Continue Reading
Over the past 20 years, cement manufacturers have quietly doubled their carbon dioxide emissions, highlighting a sector that has received relatively little public scrutiny despite contributing nearly three times as Continue Reading
Years-long talks over updating an international energy investment treaty ended on Friday with a provisional deal which would allow the exclusion of fossil fuels interests but not fast enough to Continue Reading
A wildfire raged in the Sierra de la Culebra in Zamora Province in Spain this month.Credit…Emilio Fraile/Europa Press, via Associated Press Millions of Americans are once again in the grips Continue Reading
A mortar shell fired from an undisclosed location landed within the perimeter of the Khor Mor gas field on Friday, the second attack in three days. The attack did not Continue Reading
India’s intake of Russian crude oil has soared 50-fold since April and, to date, makes up a tenth of the subcontinent’s imported oil, the Economic Times reported today, citing a Continue Reading
Highlights State Grid says northern grids hit peak power loads multiple times High temperature alert issued for 12 provinces and regions Li Keqiang stresses on maximizing coal production A heat Continue Reading
Since Monday, the national average for a gallon of regular gasoline has decreased by four cents to $4.94. The Energy Information Administration will not release gasoline demand/supply and domestic oil Continue Reading
Cheniere, the largest U.S. exporter of liquefied natural gas, boasts that it’s helping to “improve local air quality in communities globally” because the cleaner burning fuel it ships displaces coal Continue Reading
