US to boost gas exports to Germany under deal with EnBW
The newest US exporter of liquefied natural gas has signed a deal to increase exports to Germany, one of a flurry of sales to Europe amid a scramble to replace Continue Reading
French refinery strikes continue at four sites
Strikes have disrupted TotalEnergies’ (TTEF.PA) oil products refining and delivery for an ninth day, with four of its French plants hit by continuing industrial action by workers, a CGT trade Continue Reading
Scholz says France does not seem to have ruled out Pyrenean pipeline
German Chancellor Olaf Scholz said on Wednesday he did not have the impression France had ruled out building a gas pipeline across the Pyrenees and said he firmly believed Europe Continue Reading
Gas crisis set to worsen after Europe burns through winter stocks
Europe may face an even more acute energy crunch next year after draining its natural gas tanks to get through the cold of this winter, the head of the International Continue Reading
Russia Signs Fuel Deal With Taliban
Russia has joined the short list of capitals willing to trade with the Taliban. Moscow inkedc a preliminary agreement with the Taliban to provide key fuels to Afghanistan, though what Continue Reading
Russia Officially Claims Ownership Of Ukraine Nuclear Plant
Russian President Vladimir Putin has decreed Ukraine’s Zaporozhye Nuclear Power Plant is a Russian federal asset, absorbing all facilities and employees as the Kremlin’s push in the east loses momentum Continue Reading
Fitch cuts outlook for UK rating to ‘negative’ from ‘stable’
Ratings agency Fitch lowered the outlook for its credit rating for British government debt to “negative” from “stable” on Wednesday, days after a similar move from rival Standard & Poor’s Continue Reading
Russia expects temporary output drop from potential oil price cap
OPEC+ agrees major cuts to production quotas Urals currently trading at a discount of around $25 Russian Deputy Prime Minister Alexander Novak said Oct. 5 that a planned price cap Continue Reading
Russian Oil Price Cap Is Coming Within Weeks, US Treasury Official Says
The Group-of-Seven industrialized economies are within weeks of announcing a formal cap on the price of Russian oil, according to a US Treasury official. The step will be announced “substantially Continue Reading
German Grid Operator Warns of Potential Cuts to Winter Power Exports
The Amprion control room in Brauweiler, Germany. Photographer: picture alliance/Getty Images Germany’s largest power-grid operator said that the country may have to restrict electricity exports this winter as a last Continue Reading
UK Blocks Russia From Purchasing Array Of Services From British Firms
The UK has placed new sanctions on Russia, blocking its citizens and businesses from purchasing an array of services from British firms, over the Kremlin’s decision to annex four regions Continue Reading
UK looking at long-term gas import contracts to ensure supply security: PM
UK talking to market about commercial gas deal availability Norway, US, Qatar key gas suppliers to UK market Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
French refinery strikes continue at four sites
Strikes have disrupted TotalEnergies’ (TTEF.PA) oil products refining and delivery for an ninth day, with four of its French plants hit by continuing industrial action by workers, a CGT trade Continue Reading
Gazprom Resumes Flows to Italy via Austria as Spat Resolved
Russian gas supplies to Italy via Austria resumed, bringing some temporary relief to gas prices in Europe. Gazprom PJSC said it has found a solution with Italian buyers to overcome Continue Reading
Europe’s Diesel Crisis Is Far From Over
Europe’s diesel crisis is set to worsen as refinery maintenance and unplanned outages result in reduced supply. The benchmark diesel profit margins in Europe rose last week to the highest Continue Reading
Sweden sends diving vessel to probe leaking Nord Stream pipelines
Sweden sent a diving vessel on Monday to the site of Russian gas pipelines in the Baltic Sea that ruptured last week following blasts in the area, to probe an Continue Reading
Russia smuggling Ukrainian grain to help pay for Putin’s war
When the bulk cargo ship Laodicea docked in Lebanon last summer, Ukrainian diplomats said the vessel was carrying grain stolen by Russia and urged Lebanese officials to impound the ship. Continue Reading
Only One EU Member Is Still Receiving Russian Natural Gas
Three of four pipelines delivering Russian natural gas to Europe are now offline. Hungary is the only member of the European Union still receiving natural gas from Russia. Hungarian Prime Continue Reading
Norway deploys military to protect North Sea oil and gas assets
Police requested assistance from the military ConocoPhillips raises security at its Norwegian offshore assets UK’s MoD ‘safeguarding critical infrastructure’ Norway has beefed up its military presence around the North Sea Continue Reading
Europe Turns Its Back on Russian Crude as Sanctions Draw Closer
Goldman’s Currie: Oil Market Will Continue to Tighten The European market for Russia’s seaborne crude is drying up as sanctions draw nearer, and the country’s Asian customers aren’t picking up Continue Reading
Grim winter looms as wartime Ukraine braces for infrastructure attacks
In an abandoned tower block damaged by Russian shelling in Ukraine’s second city, Olga Kobzar plans to tough out winter for as long as she can without electricity, water, and Continue Reading
EU Parliament adopts rules for common charger for electronic devices
The European Parliament approved new rules on Tuesday that will introduce in the European Union a single charging port for mobile phones, tablets and cameras by 2024, in a world Continue Reading
European Gas Drops as Mild Weather and Stockpiles Ease Nerves
Prices have dropped about 50% from the highs of late August European natural gas prices extended declines as mild weather and ample stockpiles ease concerns about shortages. Benchmark futures declined Continue Reading
Crimean Tatar Minority Is in Crosshairs of Putin’s Draft
On Ukraine’s Crimean Peninsula, occupied by Russia since 2014 , indigenous Crimean Tatars say they are being targeted by Moscow for the military draft, leaving them with a stark choice: Continue Reading
Eastward gas flows via Yamal-Europe stop, supply via Ukraine stable
Eastbound gas flows stopped on Monday via the Yamal-Europe pipeline to Poland from Germany while Russian supply to Europe via Ukraine was stable and the Nord Stream 1 pipeline remained Continue Reading
Seventh day of strikes disrupts French refineries
Strikes are disrupting TotalEnergies’ (TTEF.PA) oil products refining and delivery for a seventh day at four sites throughout France, a CGT trade union representative told Reuters on Monday. Deliveries and Continue Reading
Europe braces for heavy oil refinery outages amid tight supplies
A heavy oil refinery turnaround season in Europe this autumn, plus French strike action, is set to push diesel prices higher and tighten supplies ahead of a European Union ban Continue Reading
UK’s Truss makes U-turn on tax after week of market turmoil
Truss had defended the policy on Sunday Kwarteng now says it was a distraction U-turn made with ‘humility and contrition’ – Kwarteng Cut in highest tax rate was small part Continue Reading
Eni Working With Russia’s Gazprom to Restore Italian Gas Flows
Eni SpA is working with Gazprom PJSC and Austria to restore Russian natural gas flows to Italy after supplies were halted on Saturday in an apparent scuffle over regulation. The Continue Reading
UK Energy Regulator Warns of ‘Significant Risk’ of Gas Shortage
Follow us at @BloombergUK and on Facebook, and wrap up your day with The Readout newsletter with Allegra Stratton. The UK faces a “significant risk” of gas shortages this winter Continue Reading
European Gas Demand Set For Record-Breaking Decline In 2022
A combination of soaring natural gas prices, an industrial slowdown, and energy-saving measures has sent European gas consumption falling. The International Energy Agency has forecast a 10% drop in annual Continue Reading
Russia’s Gazprom reduces gas export volumes to Moldova for October
Highlights Gazprom to supply only 5.7 million cu m/d to Moldovagaz Blames Ukrainian block on transit via Sokhranivka Moldova able to meet demand until start of heating season Russia’s Gazprom Continue Reading
Russia’s Gazprom halts gas supplies to Italy’s Eni due to Austrian ‘regulatory changes’
Gazprom says ‘not possible to supply gas to Eni on Oct 1 Flows into Tarvisio had averaged 15 mil cu m/d in September Marks latest disruption to Russian gas flows Continue Reading
Defiant Putin proclaims Ukrainian annexation as military setback looms
U.S. condemns annexation, imposes new sanctions Zelenskiy announces NATO membership application Says no peace talks while Putin is in power Putin slams neo-colonial ‘Satanic’ West Says U.S. 1945 atomic bomb Continue Reading
Analysis: Exposed Europe steps up energy defences after Nord Stream ‘sabotage’
Major leaks blamed on sabotage on the subsea Nord Stream gas pipelines from Russia to Europe have put governments from Oslo to Rome on high alert and prompted some to Continue Reading
Russia Claims EU Sanctions Are Preventing TurkStream Pipeline Maintenance
Russia claims that European Union sanctions are preventing it from maintaining the TurkStream pipeline. The TurkStream pipeline runs under the Black Sea from Russia to Turkey and on to Central Continue Reading
Gas Stations in France Running On Empty As Strikes Enter Fourth Day
Diesel and petrol stations in France are running out of fuel, according to an industry union, as a refining strike takes its toll. Stations around the le Havre and Lyon Continue Reading
Ukraine says it encircles Russian troops at Lyman stronghold
Ukraine said on Saturday it had encircled thousands of Russian troops around the eastern town of Lyman, in a battlefield rebuttal to the Kremlin a day after it proclaimed the Continue Reading
Gas starts flowing to Poland through new Baltic Pipe pipeline
– Gas started flowing to Poland through the new Baltic Pipe pipeline from Norway via Denmark and the Baltic Sea on Saturday morning, Polish gas pipeline operator Gaz-System said. The Continue Reading
Moldova says Russia’s Gazprom cuts gas supplies by 30%
CHISINAU, Oct 1 (Reuters) – Russia’s Gazprom (GAZP.MM) cut natural gas supplies to Moldova on Saturday by around 30%, the director of gas firm Moldovagaz, Vadim Ceban, said. A day Continue Reading
Military briefing: Ukraine forces close to encircling Russian troops in key town
Kyiv’s forces are close to encircling a large concentration of Russian troops in eastern Ukraine in what would be a fresh blow to Moscow in the wake of its unpopular Continue Reading
EU Approves Another $5.2 Billion For Green Hydrogen Projects
Europe is quickly establishing itself as a leader in the green hydrogen race. The European Commission has approved another $5.2 billion in public funding for green hydrogen projects. The new Continue Reading
Explainer: How could Europe cap gas prices?
The European Union is considering options to cap gas prices, as a growing number of countries pressure Brussels to put a lid on sky-high fuel costs. France, Italy, Poland and Continue Reading
The Idea Of A Windfall Tax On Oil And Gas Is Gaining Popularity
The EU plans to launch a deep and comprehensive reform of its electricity market, a reform that will likely be funded by a windfall tax on oil and gas companies. Continue Reading
Russia Is Flaring Less And Keeping Natural Gas In The Ground
Some analysts assumed that cutting Russian gas exports would force the country to either shut down some production of natural gas or flare it. Satellite data shows that flaring in Continue Reading
Europe’s Diesel Crunch Is Set To Worsen
Despite recent signs of weaker diesel demand and economic headwinds, diesel and other crude product supply in Europe is set to tighten in the coming weeks amid higher than normal Continue Reading
Germany Must Cut Natural Gas Consumption To Avoid Winter Shortages
Germany’s gas consumption rose too much last week to levels higher than in previous years, and without considerable gas conservation—including from households—Europe’s biggest economy will find it difficult to avoid Continue Reading
EU countries approve energy windfall levies, turn to gas price cap
European Union countries agreed on Friday to impose emergency levies on energy firms’ windfall profits, and began talks on their next move to tackle Europe’s energy crunch – possibly a Continue Reading
Energy crisis sires new European order: a strong Italy and ailing Germany
In the weeks after Russia’s invasion of Ukraine on Feb. 24, Claudio Descalzi, CEO of Italian energy major Eni (ENI.MI) , embarked on a whirlwind of trips to gas suppliers Continue Reading
Eurozone Inflation Hits 10% as Power Suppliers Scramble for Reserves
The eurozone’s annual rate of inflation hit double digits in September as uncertainty about the currency area’s ability to make it through the winter without power cuts continued to keep Continue Reading