Exxon about to shut down French Fos refinery due to strike
Exxon Mobil (XOM.N) said on Friday that a strike by workers over pay was forcing it to gradually shut down operations at its Fos refinery plant in southern France. “We Continue Reading
Gazprom’s gas exports to Europe via Ukraine steady on Friday
Russian gas producer Gazprom (GAZP.MM) said its supply of gas to Europe through Ukraine via the Sudzha entry point was seen at 42.1 million cubic meters (mcm) on Friday compared Continue Reading
Russia’s Move on Gas Plant Intensifies Competition for Fuel
Russia’s move to reshuffle ownership of the Sakhalin-2 natural gas project may constrict global markets even more by pushing Japan to compete with Europe for alternative sources of supply. President Continue Reading
Eurozone inflation hits record 8.6% in June
Price growth in the eurozone hit a record high of 8.6 percent in the year to June, intensifying tensions between rate-setters at the European Central Bank over the speed of Continue Reading
Supply Disruptions Drive Bullish Sentiment In Oil Markets
Bullish sentiment is once again building in oil markets as supply disruptions mount and global oil demand growth continues unabated. Friday, July 1st, 2022 As uncertainty builds around the supply Continue Reading
Hamburg senator warns of hot water rationing if gas shortage becomes acute
The German city of Hamburg will ration hot water for private households and limit the maximum heating temperature in the event of an acute gas shortage, its environment senator said Continue Reading
The Great European Energy Market Bailout Is Only Getting Started
Three decades ago, Europe decided to open up its energy markets to foster competition, a move meant to bring lower prices for consumers across the continent. Fast forward to 2022, Continue Reading
Russia’s messages with missiles tell West to back off
The latest in a litany of horrors in Ukraine came this week as Russian firepower rained down on civilians in a busy shopping mall far from the front lines of Continue Reading
Germany Risks ‘Imminent’ Recession on Gas Cutoff, Deutsche Bank Says
Likelihood of German Recession ‘Clearly’ Increasing: Ifo’s Fuest. European economies are facing a major new shock from slowing deliveries of Russian natural gas, which threaten to push inflation even higher Continue Reading
EU Imports More U.S. LNG Than Russian Pipeline Gas For The First Time Ever
For the first time in history, U.S. LNG overtakes Russian piped gas in EU. IEA: The drop in Russian supply calls for efforts to reduce EU demand to prepare for Continue Reading