The head of the International Energy Agency said on Tuesday the G7 proposal to impose a price cap on Russian oil should include refined products as well. The Group of Continue Reading
“We might not have seen the worst of it yet,” Birol warns. A global squeeze on energy supply that’s triggered crippling shortages and sent power and fuel prices surging may Continue Reading
The global population grew by less than 1 per cent a year for the first time since the aftermath of the second world war in 2020 and 2021 with Europe’s Continue Reading
New projections from the United Nations’ Department of Social and Economic Affairs show that the global population is expected to reach 8 billion on Nov. 15 — though population growth Continue Reading
As Iraq’s federal government escalates its campaign against the Kurdistan region’s oil sector independence, perhaps its most important legal action is an eight-year-old arbitration case against Turkey that is nearing a decisive Continue Reading
Iran plans to supply Russia with potentially hundreds of drones for its war in Ukraine, some with combat capabilities, a US official has said. White House National Security Adviser Jake Continue Reading
Iran is one of the only countries on earth with the potential to add significant oil supply to a global oil market that is desperately tight. In its latest attempt Continue Reading
China’s economic engine has shuddered in recent months, hurt by lockdowns imposed to curb the spread of Covid. Housing sales sagged. Many shops and restaurants in some cities shuttered, some maybe for Continue Reading
The Biden administration on Friday released a new environmental assessment of a controversial oil project on Alaska’s North Slope but declined to reveal whether it was leaning toward approving a project Continue Reading
Pump prices declined again, falling another 12 cents since last week to $4.67. The dip in the national average for a gallon of gas occurred despite a slight rise in Continue Reading
U.S. crude and gasoline inventories were seen down last week, while distillate stockpiles likely rose, a preliminary Reuters poll showed on Monday. Five analysts polled by Reuters estimated on average Continue Reading
U.S. natural gas futures jumped about 7% to a one-week high on Monday as power generators burned more of the fuel to keep air conditioners humming during a brutal heat Continue Reading
The Texas power grid is facing its biggest test of the year as scorching temperatures threaten to drive demand for electricity beyond the system’s breaking point. With electricity consumption projected Continue Reading
U.S. gasoline prices dropped again on Monday. U.S. gasoline prices dropped again on Monday, according to the latest figures from the AAA gas prices website. As of July 11, the Continue Reading
Almost all of Texas’ industrial-scale Bitcoin miners have come to a halt as the state tries to stave off power blackouts amid an intense heatwave, Bloomberg reported on Monday. Bitcoin Continue Reading
Stress lines in oil consumption are continuing to form. Across oil-consuming economies, stress lines in oil consumption are continuing to form amid tight product supplies and high pump prices. That’s Continue Reading
Western energy majors will cut output and lose billions of dollars if Russia, as is feared, suspends a pipeline that is almost the only export route for oil from land-locked Continue Reading
Germany, the world’s fourth-biggest economy, is preparing for all scenarios including a complete stop to Russian gas supplies once a regular 10-day maintenance period on the giant Nord Stream 1 Continue Reading
Eastern Germany is resorting to getting barge loads of fuel all the way from the North Sea oil port of Rotterdam as the nation pivots away from Russian supplies. Fuels Continue Reading
Highlights Ruling eases concerns following string of loading disruptions Kashagan deliveries into linked pipelines continuing after maintenance Loadings of Kazakh CPC Blend crude oil at the Russian port of Novorossiisk Continue Reading
The global price of oil could surge by 40% to around $140 per barrel if a proposed price cap on Russian oil is not adopted, along with sanction exemptions that Continue Reading
France’s soft-wheat output will drop about 7% to 32.9 million tons this year. Photographer: Nathan Laine/Bloomberg Heat, drought and storms have shrunk the wheat harvest in France, the European Union’s Continue Reading
Investor confidence in Germany’s economy slumped to the lowest since 2011 as the country faces the growing prospect of a recession and risks mount that it’s shut off from Russian Continue Reading
The hot weather hitting Europe this week is set to reduce power output from France’s fleet of nuclear reactors, risking even higher electricity prices as the continent endures its worst Continue Reading
Driven by fears that Russia may cut supply to Europe, the EU imported more LNG from the U.S. than pipeline gas from Russia for the first time ever. This insatiable Continue Reading
: Shanghai reported its first case of the BA.5 sub-variant. Emma O’Brien reports. Bloomberg News Oil declined as the prospect of more demand-sapping virus restrictions in China overshadowed signs of Continue Reading
Oil prices fell on Monday in volatile trade, reversing some gains from the previous session as markets braced for new mass COVID testing in China potentially hitting demand, a worry Continue Reading
Global distillate consumption has begun to decelerate in response to high prices and slowing manufacturing and freight activity, which should take some heat out of oil prices in the next Continue Reading
If shipping is the beating heart of global trade, its pulse is about to get slower. Faced with uncertainty about which fuels to use in the long term to cut Continue Reading
In the race to go electric, carmakers have focused on range to ease consumer anxiety over charging infrastructure, but battery makers are already working on the smaller, longer-lasting and cheaper Continue Reading
An appeal court in U.S on Friday said ExxonMobil Corp and Royal Dutch Shell Plc affiliates may try to enforce part of a $1.8 billion arbitration award against the Nigerian Continue Reading
Rigzone’s regular energy prognosticators take a look at the effect of recessionary concerns on the market, holiday travel, extreme weather and more. (The views and opinions expressed in this article Continue Reading
Shell on Monday told customers it would be unable to supply liquefied natural gas (LNG) cargoes from its Prelude facility off northwestern Australia due to industrial action over a pay Continue Reading
Since the start of the war in Ukraine, the United States and its allies have leaned on countries to buy less Russian oil in a bid to punish Moscow for Continue Reading
Commodity investors looking to China to reverse the severe rout in global metals markets may be disappointed, with Beijing unable to deliver the kind of investment splurge that powered past Continue Reading
The operator of Texas’s power grid on Sunday called on state residents for the second time this year to conserve energy, warning of potential rolling blackouts amid predictions for record-high Continue Reading
A wildfire threatening some of the world’s oldest giant sequoia trees in California’s Yosemite National Park expanded five-fold over the weekend as smoke prompted air quality alerts throughout the park Continue Reading
All of the oil (C + C) production data for the US state charts comes from the EIAʼs Petroleum Supply monthly PSM. U.S. April production decreased by 60 kb/d to Continue Reading
The biggest single pipeline carrying Russian gas to Germany began annual maintenance on Monday, with flows expected to stop for 10 days, but governments, markets and companies are worried the Continue Reading
European countries are putting plans in place to manage gas supply and even ration power in case Russian gas flows stop completely or a planned outage at the Nord Stream Continue Reading
Germany on June 23 moved to stage two of its three-tier emergency gas plan after Russia reduced deliveries via the Nord Stream 1 pipeline. read more Annual maintenance on that Continue Reading
The ENI SpA headquarters office building seen through trees in Rome. Russia’s Gazprom PJSC will further cut gas supplies to Italy by about one third, the country’s energy giant Eni Continue Reading
Short-term German power prices more than doubled as calm weather and the expected halt of gas flows on the Nord Stream pipeline crimped supplies. Power for Monday surged to the Continue Reading
European natural gas fell after Canada said it would return a stranded turbine for a key Russian pipeline to Germany, raising optimism that tensions with Moscow over energy supplies will Continue Reading
The risk of a euro-area recession is growing as the likelihood of natural gas shortages rises and inflation remains at record levels, according to economists polled by Bloomberg. The probability Continue Reading
France’s energy-intensive companies are speeding up contingency plans and converting their gas boilers to run on oil as they seek to avoid disruption in the event any further reduction in Continue Reading
Ukraine’s deputy prime minister on Sunday urged civilians in the Russian-occupied southern region of Kherson to urgently evacuate as Ukraine’s armed forces were preparing a counter-attack there. Ukraine lost control Continue Reading
The young victims of an intensifying global food crisis are being buried in unmarked graves. In crowded malnutrition wards, families are waiting for one ailing child to be discharged before Continue Reading
Ukraine’s defense minister said his country has “passed the test” with its successful use of recently delivered American long-range artillery systems, but stressed the high attrition rate along its extensive Continue Reading
Oil slipped in volatile trade on Friday and was heading for a weekly decline as concern over a potential recession-driven demand downturn outweighed tight global supplies. Central banks are raising Continue Reading
