Germany’s Volkswagen AG warned on Thursday that global auto production will be at risk in 2023 if Russia fails to resume deliveries of natural gas through Nord Stream 1. As Continue Reading
EU proposals to ban the sale of new internal combustion engine cars and vans by 2035 should be reconsidered given the impact Russia’s war in Ukraine has had on soaring Continue Reading
Referendums in Luhansk, Donetsk, Kherson, Zaporizhzhia Seen as paving the way for Russian escalation of war Denounced as illegal, illegitimate by Ukraine, West Regions represent about 15% of Ukraine territory Continue Reading
The German government is in talks about providing urgent financial support for scores of regional state-owned energy providers which are struggling to cope with soaring gas prices, three sources familiar Continue Reading
Mercedes-Benz (MBGn.DE) has planned out measures by which it could reduce gas consumption by up to 50% but has not reduced it beyond 10% as of yet, the carmaker’s production Continue Reading
Booklets were handed out on the eve of the referendum in Luhansk Russian-backed officials in four occupied regions of Ukraine are holding self-styled referendums on joining Russia. Denounced as illegitimate Continue Reading
As Europe races to get enough energy for winter, national economies are battling recessions, and energy giants battling bankruptcy. Even if European countries manage to survive winter, as it appears Continue Reading
Earlier this week, the UK government lifted the moratorium on hydraulic fracturing in England, removing what seems the biggest obstacle to greater energy security. According to geologists, however, this is Continue Reading
The UK government has lifted the moratorium on shale gas production in England. The UK department for Business, Energy and Industrial Strategy (BEIS) has announced that, to bolster the UK’s Continue Reading
Oil rose on Thursday after sliding 1% in the previous session on the prospect of higher Chinese demand and geopolitical risks. Brent crude futures were up $1.09, or 1.21%, to Continue Reading
Natural gas has retreated from recent highs as European countries are reaching storage capacity levels. U.S. natural gas prices have hit a fresh six-week low, closing at $7.75/MMBtu on Monday. Continue Reading
Oil jumped more than 2% on Wednesday after Russian President Vladimir Putin announced a partial military mobilization, escalating the war in Ukraine and raising concerns of tighter oil and gas Continue Reading
The recent downturn for copper prices only stands to worsen a coming deficit as the slump discourages new investments for the metal used in EVs and power grids. Molten copper Continue Reading
The United Nations General Assembly meets in New York on Wednesday, Sept. 21, 2022. Photographer: Jeenah Moon/Bloomberg Between floods that ravaged Pakistan and droughts that parched Europe and China, and Continue Reading
Iraq’s highest court has struck down the government order that created the Iraqi National Oil Company (INOC) two years ago, dealing a crippling setback to a nascent effort to restructure Continue Reading
In view of the massive vandalism and rising cases of oil theft in Nigeria’s oil producing region, the Director of Operations, PPC Limited, Dr. Patrick Ede, has advised the federal Continue Reading
Senate President Ahmad Lawan has warned that unless prompt action is taken, crude oil theft may stagnate the economy and drive it into a coma. Lawan said this Tuesday in Continue Reading
The death toll from malaria and other diseases tearing through Pakistan’s flood-ravaged regions reached 324, authorities said on Wednesday, and actress Angelina Jolie said she feared many people she had Continue Reading
China, the world’s largest coal consumer, has domestic reserves of coal to last the next 50 years, according to annual reserves data from the Ministry of Natural Resources cited by Continue Reading
China’s imports of crude oil and coal imports from Russia exploded in August, data showed on Tuesday, but despite the jump in supply, Russia handed back its top oil supplier Continue Reading
One of the features of the crude oil market this year has been China’s weak imports and faltering exports of refined fuels. But despite the decline in oil imports, China Continue Reading
PBOC sets stronger-than-expected fixings for 21 straight days Move follows Federal Reserve’s third 75 basis point rate hike Bloomberg News China’s yuan is set for its longest losing streak since Continue Reading
Chinese refiners have plans to increase processing rates by 10 percent next month as they see demand increasing, especially from abroad. Refiners are hoping the government will issue another fuel Continue Reading
Despite lower crude oil refining and imports overall, China has increased its crude oil imports from Russia. Despite lower crude oil refining and imports overall, China has increased its crude Continue Reading
The US Senate voted Wednesday to join more than 130 nations in pledging to phase out the use of super-polluting greenhouse gases found in refrigerators and air conditioners, a step Continue Reading
A big winner from the energy crisis in Europe: the U.S. economy. Battered by skyrocketing gas prices, companies in Europe that make steel, fertilizer and other feedstocks of economic activity Continue Reading
During an extreme heat wave in early September, the California power grid relied on natural gas for almost half of its electricity generation to meet peak demand, the U.S. Energy Continue Reading
The CEO of JP Morgan, Jamie Dimon, said that banks refusing to fund new oil and gas projects would be “the road to hell for America”. An unnamed senior executive Continue Reading
The Alaskan authorities distributed a check of over $3,000 to almost all residents of the state in payment from its investment fund that gets filled up from oil profits. Called Continue Reading
Geopolitical risk, inflation and banks’ focus on environmental criteria are creating headwinds to developing more natural gas liquefaction capacity at LNG terminals in the US, although commercial support for new Continue Reading
Germany on Wednesday agreed to nationalize Uniper, raising the bill to rescue the gas importer to 29 billion euros ($28.7 billion) amid an escalating energy crisis that shows just how Continue Reading
German natural gas import costs rose by 164% in the first seven months of 2022 from a year earlier, even though imports were down by 25.5%, official monthly data showed Continue Reading
EU plans to mandate a 5% reduction in peak hour energy demand will be a real test of resolve. Power generation technologies with lower generation costs than natural gas – Continue Reading
Thousands of people protested against soaring electricity prices and costs of living in the Belgian capital Brussels on Wednesday, following a similar protest the day before in Slovakia, and earlier Continue Reading
Highlights EC on standby to issue ‘union alert’ on gas demand: Zsigri Winter could become difficult, no room for complacency No final decision yet on scope of gas price cap Continue Reading
New York remains far and away the world’s most favored financial centre, with London still second and Singapore overtaking Hong Kong to come in third, latest rankings from the Global Continue Reading
Britain on Thursday formally lifted a moratorium on fracking for shale gas that has been in place since 2019, saying strengthening the country’s energy supply was an “absolute priority”. Energy Continue Reading
Shale gas is safe and Britain needs to revisit the limits on seismic activity allowed at fracking sites, business minister Jacob Rees-Mogg said on Thursday. “We need to revisit the Continue Reading
Highlights Diversification to grow as EU sanctions, Rosneft takeover looms Germany laps up Canadian, Libyan, Saudi crudes in recent months Rosneft plant buyout to throw focus on Polish import route Continue Reading
Russia is losing its gas war against Europe, according to Standard Chartered analysts. Russia is losing its gas war against Europe. That’s what Standard Chartered analysts think, according to a Continue Reading
Oil jumped more than 2% on Wednesday after Russian President Vladimir Putin announced a partial military mobilization, escalating the war in Ukraine and raising concerns of tighter oil and gas Continue Reading
Putin Escalates War, Calling Up 300,000 Reservists Oil rallied after Russian President Vladimir Putin ordered a partial mobilization to hold onto occupied territories in Ukraine, an escalation that could lead Continue Reading
Storage tanks are seen at Marathon Petroleum’s Los Angeles Refinery, which processes domestic & imported crude oil into California Air Resources Board (CARB) gasoline, CARB diesel fuel, and other petroleum Continue Reading
OPEC+ is now producing below its targets by a record 3.58 million barrels per day – about 3.5% of global demand – highlighting underlying tight supply in the oil market, Continue Reading
Qatari Foreign Minister Mohammed Bin Abdulrahaman Al Thani speaks to Bloomberg’s Annmarie Hordern in New York about energy talks with Germany and the top agenda items as the UNGA kicks Continue Reading
The UAE looks to speed up the development of its Ghasha sour gas project. The Ghasha concession is the world’s largest offshore sour gas development. Italian oil major Eni is Continue Reading
The Haitian government’s plan to raise fuel prices has sparked chaos in the Caribbean country, with a powerful gang leader blocking a port and calling for the prime minister’s overthrow, Continue Reading
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassing inventories at power plants. Raising domestic coal output Continue Reading
China’s spending on Russian energy products hit a record $8.3 billion last month, as the world’s top importer continues to expand its reliance on Moscow for overseas supplies of crude, Continue Reading
The price of gasoline is highly salient in both politics and the economy. Generally when the price of gasoline goes down, the public’s mood starts to improve. That sense of Continue Reading
