Europe must race to replace sanctioned and curtailed Russian energy supply and should double down on efficiency and renewables, including nuclear power, the International Energy Agency (IEA) said on Wednesday. Continue Reading
A fire tore through part of Russia’s Novoshakhtinsk refinery on Wednesday just 8 kilometres from the border with Ukraine after drones were spotted flying over the oil plant. Social media Continue Reading
Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1% last month, the highest rate out of the Group of Seven countries and underlining the severity Continue Reading
The International Energy Agency has warned that Europe must prepare immediately for the complete severance of Russian gas exports this winter, urging governments to take measures to cut demand and Continue Reading
As Ukrainian forces launch a renewed assault on Snake Island in the Black Sea, recent strikes suggest that they are using powerful Western anti-ship weapons in an effort to undermine Continue Reading
Russia’s Gazprom significantly reduced gas flows to European consumers this week. WoodMac: unless Europe takes additional supply and demand measures, its storage refill this year is at risk. Benchmark European Continue Reading
Russia overtakes Saudi as top supplier after 19-month gap Russian imports nearly 2 mln bpd in May Imports from Malaysia more than doubled in May yr/yr Customs reports 3rd Iranian Continue Reading
Highlights On track to completely phase out Russian oil purchases Refiners maintain high runs to help ease Asia’s diesel shortages South Korea to mainly rely on US, Middle Eastern crude Continue Reading
Europe’s biggest Russian gas buyers raced to find alternative fuel supplies on Monday and could burn more coal to cope with reduced gas flows from Russia that threaten an energy Continue Reading
Ukraine has around 109 million cubic metres (mcm) a day of spare gas capacity through a transit route to Europe which could be used to offset lower flows through the Continue Reading
The Netherlands on Monday said it would activate the “early warning” phase of an energy crisis plan and lifted a cap on production by coal-fired power plants as it seeks Continue Reading
The Dutch government on Monday activated the first phase of a crisis energy plan, and said it would produce 2.8 billion cubic metres of gas from the Groningen gas field Continue Reading
Germany’s chemicals sector, which is heavily dependent on Russian gas, has only a very limited scope to replace the fuel with alternatives, it said a day after Europe’s top economy Continue Reading
Several major German industrial consumers are ready to participate in the government’s auction that will help to ensure the security of supply this winter, according to a minister. “Several” energy-intensive Continue Reading
The European Commission president has warned EU member states not to backtrack on their long-term drive to cut fossil fuel use, as Germany, Austria and the Netherlands said they would Continue Reading
The European Union today said it would form a “strategic partnership” with the Gulf Cooperation Council and its Member States “as part of enhancing engagement in the broader region,” the Continue Reading
Ukrainian forces attacked on Monday offshore oil and gas drilling platforms in the Black Sea, the Russia-installed head of Crimea said. Gas production is temporarily halted from the platforms, but Continue Reading
WATCH: How to Price the Risk of Russia’s Tightening Grip on Gas Russia again tightened its grip on Europe’s natural gas supply, rejecting an offer from Ukraine to book more Continue Reading
Russia summoned the European Union’s ambassador in Moscow on Tuesday, fuming over a rail blockade that has halted shipments of many basic goods to a Russian outpost on the Baltic Continue Reading
Britain’s biggest rail strike in 30 years kicked off on Tuesday as tens of thousands of staff walked out in a dispute over pay and jobs that could pave the Continue Reading
German utility EnBW Energie Baden-Wuerttemberg AG signed a long-term deal to purchase liquefied natural gas from a US exporter, becoming the latest European firm to procure American fuel in a Continue Reading
China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on Continue Reading
The war in Ukraine could last for years, the head of NATO said on Sunday, calling for steadfast support from Ukraine’s allies as Russian forces battle for territory in the Continue Reading
Germany on Sunday announced further steps to boost gas storage levels to prepare for the next winter season, when it fears Russia could reduce or even completely halt supplies. Following Continue Reading
Firefighters in Spain and Germany struggled to contain wildfires on Sunday amid an unusual heat wave in Western Europe for this time of year. The worst damage in Spain has Continue Reading
Russia’s Gazprom (GAZP.MM) has told Italy’s Eni (ENI.MI) that it would deliver similar gas supplies on Sunday to those it sent in recent days, Eni said in a statement, signalling Continue Reading
Germany will restart coal-fired power plants and offer incentives for companies to curb natural gas consumption, marking a new step in the economic war between Europe and Russia. Berlin unveiled Continue Reading
Highlights ‘All parties agreed to suspension in advance’: Gazprom Suspension comes amid major European supply disruptions Bulgaria received gas via TurkStream prior to April 27 cut-off Russia’s Gazprom said June Continue Reading
Russia’s Gazprom (GAZP.MM) has told Italy’s Eni (ENI.MI) that it would deliver similar gas supplies on Sunday to those it sent in recent days, Eni said in a statement, signalling Continue Reading
Germany on Sunday announced further steps to boost gas storage levels to prepare for the next winter season, when it fears Russia could reduce or even completely halt supplies. Following Continue Reading
The war in Ukraine could last for years, the head of NATO said on Sunday, calling for steadfast support from Ukraine’s allies as Russian forces battle for territory in the Continue Reading
Lithuanian authorities said a ban on the transit through their territory to the Russian exclave of Kaliningrad of goods that are subject to EU sanctions was to take effect from Continue Reading
British transport secretary Grant Shapps has condemned planned rail strikes as a “huge mistake” that will stop people from attending hospital appointments, sitting school exams or getting to work. The Continue Reading
At Oleksandr Peretiatko’s farm in central Ukraine, the harvest is just days away. In normal times, the crops would be sent off to ports on the Black Sea for export Continue Reading
Ukraine has been forced to seek alternative fuel supplies as the Russian invasion hits its traditional supply routes, leaving the war-torn country with acute petrol shortages. A Russian naval blockade Continue Reading
Italy receives 50% less gas than requested on Friday Germany’s Uniper receives 60% less gas Russia says must wait and see over equipment return Countries need to build up storage Continue Reading
Italy may declare a heightened “state of alert” on gas next week if Russia continues to curb its supplies, two government sources said on Friday after energy company Eni (ENI.MI) Continue Reading
Ukraine is expected to start selling electricity to Slovakia and Hungary this month, a move that could boost revenues for power generators in the country, sources told Reuters. The expansion Continue Reading
The European Union gave its blessing on Friday for Ukraine and its neighbor Moldova to become candidates to join the bloc, reaching out deep into the former Soviet Union for Continue Reading
France’s gas network manager, meanwhile, said no gas had flowed into the country through its border with Germany since Wednesday. And in Italy, the eurozone’s third-biggest economy, Eni SpA said Continue Reading
Hackers on Friday delayed the start of President Vladimir Putin’s speech to Russia’s flagship economic forum, shorn of strong Western participation as Russia adjusts to the “new reality” of life Continue Reading
Russia’s Rosneft PJSC is proceeding with its flagship Vostok Oil project in the Arctic, Chief Executive Officer Igor Sechin said, just over a week after a key partner announced it’s Continue Reading
As Russia tries to take the initiative in eastern Ukraine, Moscow has had to find fresh manpower from some unlikely places for what is shaping up to be a crucial Continue Reading
Italy has become the latest of a host of European countries to report further cuts in its Russian gas supply. Italian energy giant Eni said it would receive only half Continue Reading
All parties agreed to suspension in advance’: Gazprom Suspension comes amid major European supply disruptions Bulgaria received gas via TurkStream prior to April 27 cut-off Russia’s Gazprom said June 18 Continue Reading
As the Biden administration contemplates expanding punitive measures on Russia for its invasion of Ukraine, a big hurdle lies closer to home: the American consumer. U.S. drivers are embarking on Continue Reading
Latest The talks in Kyiv come a day after the U.S. announced it would send $1 billion in new military aid to Ukraine. Ukrainian troops defending Severodonetsk are clinging on Continue Reading
German Economy Minister Habeck: reduction of Nord Stream 1 gas flows is a political decision. Gazprom further cut volumes to Germany on Wednesday. European gas benchmark prices soared on Wednesday Continue Reading
Following the U.S. Fed’s biggest rate hike since 1994 on Wednesday, which brought oil prices down 1%, central banks across Europe on Thursday raised interest rates by record amounts in Continue Reading
Russia could continue its participation in the OPEC+ oil production agreement even after it officially expires at the end of this year, Russian Deputy Prime Minister Alexander Novak said on Continue Reading
