Germany To Halt Russian Coal Imports Next Month
Germany will stop importing Russian coal from August 1 and crude oil from December 31, the country’s deputy finance minister, Joerg Kukies said today, as quoted by Reuters. “We will Continue Reading
Russian gas flows through Ukraine and eastbound Yamal flows steady
Nominations for Russian gas flows into Slovakia from Ukraine via the Velke Kapusany border point were steady on Thursday, while flows via the Nord Stream 1 pipeline remained shut due Continue Reading
Europe Is Frying in Devastating Heat Even as it Brings Back Coal
As gas-hungry Europe revives coal plants, complicating its climate ambitions, the blistering heat this summer shows just what’s at stake. Southern France was slammed by a heat wave so intense Continue Reading
Trafigura sells stake in Putin-backed oil project to obscure HK trading outfit
Commodity trader Trafigura has sold a multibillion-dollar stake in a giant Russian oil project to an obscure Hong Kong company that was set up just nine days before Russia invaded Continue Reading
Trudeau: Decision To Return Russian Gas Turbine Was “Very Difficult”
Canadian Prime Minister Justin Trudeau said that the sanctions exception it made to return Russia’s repaired gas turbine was a “very difficult” decision to make, Reuters reported on Wednesday. Canada Continue Reading
IMF chief warns natural gas disruptions could trigger recession in Europe
The global economic outlook remains extremely uncertain, the head of the International Monetary Fund said on Wednesday, warning that further disruption in the natural gas supply to Europe could plunge Continue Reading
Turkey reports deal to restore Ukrainian grain exports, UN says more work needed
Ukraine, Russia agree to grain coordination centre Says deal sees joint controls for checking grain in ports Turkey would ensure safety of Black Sea export routes More work needed to Continue Reading
Oil edges higher after slide below $100
Oil edged up on Wednesday, a day after settling below $100 a barrel for the first time since April, and gains were limited by a U.S. supply report showing rising Continue Reading
Oil Sinks on Demand Concerns as IEA Sees Energy Crisis Enduring
Oil extended losses as a Covid-19 resurgence in China added to concerns about a global economic slowdown, with the International Energy Agency warning the worst of the energy crisis may Continue Reading
Oil Falls to Three-Month Low as Recession Fears Spook Market
IEA’s Birol: Worst of Global Energy Crisis May Be Ahead Oil tumbled as concerns about a global economic slowdown and growing Covid-19 cases in China reduced traders’ appetite for risk. Continue Reading
IEA Director: Price Cap On Russian Oil Should Extend To Fuels
The G7 idea to place a price cap on Russian oil should include a cap on the prices of gasoline and diesel, too, Fatih Birol, Executive Director of the International Continue Reading
Global refinery runs rise in June, but fail to keep up with demand: IEA
Outages, tight spare capacity affect throughput Cracks remain elevated, apart from naphtha Global refinery runs rose in June as maintenance wound down, but a number of outages and tight spare Continue Reading
Renewables’ edge over fossil fuels will be ‘unprecedented’ in 2022, IRENA says
The advantage of renewables over crude oil and natural gas will be “unprecedented” in 2022 as costs may be higher but far below gains seen in prices of fossil fuels, Continue Reading
OPEC Remains 1 Million Bpd Below Target
The ten OPEC producers in the OPEC+ pact pumped 24.8 million barrels per day (bpd) of crude oil in June, OPEC data showed on Tuesday, with production falling 1 million Continue Reading
OPEC sees slower 2023 oil demand growth, no big shale gain
The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen inside its headquarters in Vienna, Austria, December 7, 2018. REUTERS/Leonhard Foeger/ World demand growth to slow to Continue Reading
Libyan Oil Crisis Intensifies With Attempt to Remove NOC Board
Libya’s government in Tripoli has reportedly appointed a new board to govern the National Oil Company (NOC), with interim Government of National Unity prime minister dismissing long-time chairman Mustafa Sanalla Continue Reading
Nigeria: With 614,000bpd June Underperformance, Nigeria’s Oil Losses Exceed $2bn
Out of the 1.772 million barrels per day crude oil allocated to the country by the Organisation of Petroleum Exporting Countries (OPEC) in June, Nigeria was only able to produce Continue Reading
Libya’s NOC lifts force majeure on exports from Zueitina, Brega terminals
Highlights Oil terminals opened to allow tanker to carry condensate Libya’s oil supply crisis has slashed output by more than half It pumped 650,000 b/d in June, lowest since Oct Continue Reading
World’s Second-Largest LNG Importer Calls On U.S. To Increase Supply
Japan, the world’s second-largest LNG importer, urged the United States and Australia on Tuesday to boost production and deliveries to ensure enough supply of the hottest energy commodity. “ I Continue Reading
China’s surging hydropower a boon for its climate goals, energy bills
A surge in hydropower output in China this year, boosted by record-breaking rainfall, is helping the world’s biggest polluter meet green targets as well as cut liquefied natural gas imports Continue Reading
China’s exports pick up speed, but global risks darken trade outlook
China June export grows at fastest pace in 5 months June import growth slows, misses f’cast Overall export outlook still faces uncertainty Darkening global economic backdrop, Ukraine war add to Continue Reading
China’s Plunging Markets Flash Fresh Warning Signs on Economy
Chinese financial markets are flashing warning signs that another round of Covid shutdowns could create more turmoil for the economy. The Hang Seng China Enterprises Index of stocks has lost Continue Reading
U.S. natgas futures fall 4% on oil price plunge
U.S. natural gas futures fell about 4% on Tuesday as the gas market followed an 8% drop in oil prices. That gas price decline came even though daily gas output Continue Reading
U.S. power use to reach record high in 2022 as economy grows -EIA
Power lines run from the coal-fired Intermountain Power Project, which will close in 2025, outside U.S. power consumption was on track to rise to record highs in 2022 and 2023 Continue Reading
U.S. crude output and petroleum demand to rise in 2022 -EIA
– U.S. crude production and petroleum demand will both rise in 2022 as the economy grows, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) Continue Reading
US Cuts Gasoline-Demand Forecast as High Prices Weigh on Drivers
The US will consume less gasoline from July through October than previously thought as pump prices remain historically high. The country’s gasoline demand is now expected to reach 9.07 million Continue Reading
Will Los Angeles Join a Ban on New Gas Stations?
The small but growing Safe Cities movement is looking to LA to help stop the construction of new gas stations across North America. A car leaves a gas station in Continue Reading
Short-Term Energy Outlook
The July Short-Term Energy Outlook (STEO) is subject to heightened uncertainty resulting from a variety of factors, including Russia’s full-scale invasion of Ukraine. The possibility of economic activity being less robust than Continue Reading
API Reports Large Inventory Build As Oil Falls Back Below $100
The American Petroleum Institute (API) reported a large build this week for crude oil of 4.762 million barrels, while analysts predicted a draw of 1.933 million barrels. The build comes Continue Reading
EIA lowers 2022 coal consumption estimates as plants retire
With 14.9 GW of coal-fired capacity to retire in 2022, the Energy Information Administration July 12 estimated 2022 coal consumption at 481.7 million st, down 3.9% on the year. “The Continue Reading
South Central gas storage braces for early start to summer withdrawals
Drawdown of 7-10 Bcf expected in week ended July 8 Southeast summer gas demand up 5.3 Bcf/d vs. 2021 Locations east of Henry Hub trade at $5-$6 premiums The US Continue Reading
USA Diesel and Gasoline Demand Slip
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
Where Is Gasoline Cheapest in the USA?
The AAA gas prices website has revealed which state has the cheapest average regular gasoline price. The AAA gas prices website has revealed which state has the cheapest average regular Continue Reading
Texas Wind Power Failing When State Needs It Most
Turbines are generating less than a 10th of what they’re capable of. Wind power — a key source of electricity in Texas — is being sidelined just when the Lone Continue Reading
Biden heads to Mideast jittery about Iranian nuclear program
Joe Biden starts the first visit to the Middle East of his presidency with a monumental task: assuring uneasy Israeli and Saudi Arabian officials that he is committed to preventing Continue Reading
U.S. Inflation Reached a New Four-Decade High in June, Economists Estimate
U.S. inflation is estimated to have reached a new four-decade high in June, but falling gasoline prices and discounting at some retailers could be signs of moderating price pressures, economists Continue Reading
Europe on edge as Nord Stream Russian gas link enters shutdown
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
London’s Heathrow tells airlines to stop ticket sales as it caps passengers
– London’s Heathrow Airport asked airlines to stop selling tickets for summer departures on Tuesday, after it capped the number of passengers flying from the hub at 100,000 a day Continue Reading
Russia gives exiting firms time by pausing asset seizure law
Moscow’s plan to implement a new law enabling authorities to seize the assets of Western firms leaving the country failed to get through parliament before the summer recess, giving companies Continue Reading
Ukraine ministry: ships passing through Danube Bystre rivermouth
Ukraine’s infrastructure ministry said in a statement Tuesday that 16 ships had passed through the Danube’s newly-reopened Bystre rivermouth in the last four days and that the opening up of Continue Reading
Shunned in Europe, Russian Fuel Is Flooding to the Middle East
Russia’s huge exports of diesel and other fuel products that are being shunned by many in Europe are fast heading to a new destination: the Middle East. Flows to the Continue Reading
Russia Earns More Despite Lower Oil Exports in June, IEA Says
Russia’s oil exports rose back above $20 billion in June despite lower shipments abroad because of a rally in energy prices, according to the International Energy Agency. That was an Continue Reading
European Gas Prices Rise as Nord Stream Works Put Market on Edge
European natural gas prices gained for a second day as traders remain on edge over what to expect when Russia’s Nord Stream pipeline completes maintenance. The pipeline is shut for Continue Reading
Putin’s Oil War With the West Comes at His Allies’ Expense
As Russia pushes to find new buyers for its oil to skirt ever tougher Western sanctions, it is cutting into the market share of two of its allies — Iran Continue Reading
Live Updates: Ukraine to Meet With Russia for Grain Export Talks
Russian and Ukrainian negotiators are scheduled to meet Wednesday in Istanbul , in the increasingly desperate effort to release huge amounts of grain from Ukraine’s ports and ship it to Continue Reading
UK Approves 25% Windfall Tax On Oil And Gas Producers
British lawmakers have officially approved a 25% windfall tax on oil and gas producers that will earn the government nearly $6 billion in one year to put towards surging consumer Continue Reading
Ships Seized in Mariupol
‘This is the first such incident against commercial shipping’. In the Ukrainian Port city of Mariupol, Russian-backed separatists have seized two foreign flagged ships. That’s according to Dryad Global’s latest Continue Reading
Oil Sinks on Demand Concerns as IEA Sees Energy Crisis Enduring
Oil extended losses as a Covid-19 resurgence in China added to concerns about a global economic slowdown, with the International Energy Agency warning the worst of the energy crisis may Continue Reading
Crude oil futures tumble on fresh China COVID-19 curbs, stronger dollar
China announces fresh restrictions amid rising in COVID-19 cases US dollar index hits 20-year high Crude oil futures were lower in mid-morning Asian trade on July 12, as risk aversion Continue Reading
Oil slides on strong dollar and weaker demand outlook
Brent, WTI slide by about $3/bbl Recession fears, China COVID curbs weigh on oil – analysts Dollar strengthens, trading at near parity with euro IEA says Russia oil price cap Continue Reading