Polish Grupa Azoty, a large fertilizer producer, has stopped the production of some key fertilizers, including nitrogen fertilizers and caprolactam, because of soaring energy costs, becoming the latest casualty of Continue Reading
Another dramatic spike in natural gas prices appears to have ended any hopes that Europe’s inflation battle is set to ease, with financial markets now bracing for higher prices, a Continue Reading
Russia and Ukraine have been at war for 6 months Armies have been locked in grinding war of attrition No immediate prospect of meaningful peace deal Europe is facing a Continue Reading
Offshore supply ships at the Port of Aberdeen sea port in Aberdeen, Scotland, UK. Scotland’s public spending deficit shrank after revenue from the North Sea oil industry jumped to the Continue Reading
Oil rose near $92 a barrel in New York after Saudi Arabia said OPEC+ may be forced to cut production to stabilize a volatile market. “Extreme” volatility and a lack Continue Reading
Oil rose $1 a barrel on Tuesday as tight supply moved back into focus as a result of Saudi Arabia floating the idea of OPEC+ output cuts to support prices Continue Reading
The diesel crisis lies dormant. While prices have dropped from a March spike, record-low stocks, demand expected from the onset of winter, and the threat of a drop off in Continue Reading
OPEC+ sources: members produced 2.9 million bpd below output targets in July. The gap between overall quota and actual oil production from the OPEC+ members has been growing for more Continue Reading
The Kurdistan region’s Ministry of Natural Resources (MNR) has initiated an appeal of a Baghdad court’s July decision to invalidate four contracts with international oil companies — a move that could delay Continue Reading
Eni has announced a ‘significant’ gas discovery in the Cronos-1 well. Eni has announced a “significant” gas discovery in the Cronos-1 well, which was drilled in Block 6, around 100 Continue Reading
OPEC Chief Sees Risk of Oil Squeeze on Scarce Spare Capacity Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Saudi Arabian Energy Continue Reading
Saudi Arabia has promised as much as $14 billion in investments in Uzbekistan, with $12 billion earmarked to address ongoing energy shortages. Saudi firm ACWA Power is set to build Continue Reading
Damaged equipment at the Black Sea terminus of the CPC pipeline caused another supply outage. According to CPC, two of the three mooring points at Novorossiysk have been shut down. Continue Reading
Iran will soon begin the development of the Esfandiar oil field. Production from Esfandiar is expected to begin within the next three years. Iran is developing its oil and gas Continue Reading
Libya’s oil production is now at 1.211 million barrels per day (bpd), according to the country’s National Oil Corporation (NOC)—a level last seen before the port blockades that began this Continue Reading
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari, yesterday poured cold water on calls for the legalisation of artisanal illegal refineries in Continue Reading
Highlights Changing climate negatively impacts hydropower output Crucial to further expand power transmission, generation, storage capacities Energy security as top priority now, at the cost of climate policy China’s Sichuan Continue Reading
BEIJING (AP) — With China’s biggest freshwater lake reduced to just 25% of its usual size by a severe drought, work crews are digging trenches to keep water flowing to Continue Reading
Decorative lights are turned off at the Bund in Shanghai on Aug. 22. Shanghai’s iconic skyscrapers dimmed their exteriors Monday as part of a two-day suspension, as the financial hub Continue Reading
President Biden shakes hands with Senator Manchin after signing the Inflation Reduction Act of 2022 on Aug. 16. Photographer: Sarah Silbiger/Bloomberg “The storms are stronger. The fires are bigger. We Continue Reading
The United States’ Strategic Petroleum Reserve (SPR) now has only 453.1 million barrels in its inventory, following another significant drop in the past week that puts the emergency reserve at Continue Reading
Western leaders are preparing for the possibility that Russian natural-gas flows through the key Nord Stream pipeline may never return to full levels. WSJ’s Shelby Holliday explains what an energy Continue Reading
When the Supreme Court restricted the ability of the Environmental Protection Agency to fight climate change this year, the reason it gave was that Congress had never granted the agency Continue Reading
The energy crisis in Europe has helped the United States position itself as the world’s largest LNG exporter. The United States, as the world’s biggest LNG exporter, also has the Continue Reading
Nord Stream pipe set for three-day maintenance from Aug. 31 Gas settles at record high, while French power, coal surge WATCH: Germany may consider delaying shutdowns of its remaining nuclear Continue Reading
Britain recorded its biggest fall in output in more than 300 years in 2020 when it faced the brunt of the COVID-19 pandemic, as well as a larger decline than Continue Reading
French transport minister Clément Beaune has called for flights by private jets to be restricted because of their outsize contribution to climate change, joining an increasingly heated debate in France Continue Reading
TTF month-ahead price soars to close to Eur300/MWh Nord Stream to close for three-day maintenance Aug 31 No let-up in European gas price strength European gas prices surged on Aug. Continue Reading
U.S. urges citizens to leave Ukraine ‘now’ Heightened fears of attack on Kyiv around independence day Wednesday marks six months since Russian invasion Concern over dangers to nuclear plant KYIV, Continue Reading
It was meant to be Europe’s stellar year. A post-pandemic spending euphoria, supported by copious government spending was set to drive the economy and help fatigued households regain a sense Continue Reading
Six months after Russia launched its full-scale invasion of Ukraine, signs are accumulating that the balance on the military and economic battlefields is slowly tilting the way of Kyiv and Continue Reading
British Airways ICAGY -5.86%▼ is cutting more than 10,000 flights through the rest of the summer flying season and into the winter, threatening to extend the aviation industry’s chaotic postpandemic Continue Reading
The Pentagon is sending new weapons and equipment to Ukraine that will better prepare its military to fight Russian troops at closer ranges, potentially signaling that Kyiv and its backers Continue Reading
Dollar hits 5-wk high on hawkish Fed remarks China’s Sichuan extends power curbs on heatwave -Caixin China cuts lending benchmarks to revive faltering economy Western leaders discuss Iran nuclear deal Continue Reading
Oil fell at the start of the week with investors weighing the prospect for more Iranian supply as the outlook for economic growth weakens. Brent futures lost as much as Continue Reading
Hedge funds are pulling out of oil as price volatility becomes excessive. Oil trading activity has fallen to the lowest level in seven years. The volatility is even impacting other Continue Reading
Severe droughts across the Northern Hemisphere—stretching from the farms of California to waterways in Europe and China—are further snarling supply chains and driving up the prices of food and energy, Continue Reading
Oil majors such as ExxonMobil and Chevron will have to cut exports of Kazakh oil via Russia again due to damaged equipment, the pipeline operator said on Monday, adding to Continue Reading
Yeyerisa Abimbola has dedicated most of her 58 years on Earth to the Osun, a waterway in deeply religious Nigeria named for the river goddess of fertility. As the deity’s Continue Reading
Indian Prime Minister Narendra Modi boldly declared that his country was ready to “feed the world” after Russia’s invasion of Ukraine. Less than four months later, the government needs to Continue Reading
Though China is aiming to roll out record amounts of renewable capacity this year as decarbonisation elsewhere stalls, economic challenges mean Beijing is unlikely to tackle rising coal consumption ahead Continue Reading
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted coal while Western countries shunned Continue Reading
An iconic skyline in the Chinese city of Shanghai – called The Bund – will not be lit for two nights to save power, officials say. The waterfront area – Continue Reading
The West has been quick to criticize China for its perceived lackluster carbon emissions targets. While China remains one of the world’s most polluting countries, it is ramping up renewable Continue Reading
Changing climate negatively impacts hydropower output Crucial to further expand power transmission, generation, storage capacities Energy security as top priority now, at the cost of climate policy China’s Sichuan province, Continue Reading
Sichuan’s worst drought in more than a half-century spurred the Chinese province to extend industrial power cuts and activate its highest emergency response, adding to manufacturers’ woes as they shut Continue Reading
Tucked into the Inflation Reduction Act that President Biden signed last week is a major expansion of federal loan programs that could help the fight against climate change by channeling Continue Reading
Germany may consider delaying shutdowns of its remaining nuclear plants as Russia squeezes gas supplies. Birgit Jennen reports. Want the lowdown on European markets? In your inbox before the open, Continue Reading
Economy minister says nuclear plants save minimal gas May have to keep a plant running in Bavaria for network stability Scholz says nuclear plant stress test results due within weeks Continue Reading
UK inflation is on track to rise above 18% for the first time in almost half a century next year as energy prices rocket, according to the investment bank Citigroup. Continue Reading
