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News

Diesel In ‘Crisis’ Mode As Prices Break Records

Diesel In ‘Crisis’ Mode As Prices Break Records

Apr 29, 2022 at 11:37 | Julianne Geiger

Diesel prices, the lifeblood of industry, have hit a record $5.16 per gallon, trending $1 per gallon higher than gasoline prices, with inventory shortages adding severe pressure and…

EU Regulators: Electricity Market Not To Blame For Energy Crisis

EU Regulators: Electricity Market Not To Blame For Energy Crisis

Apr 29, 2022 at 10:47 | Tsvetana Paraskova

The EU’s wholesale electricity market is not to blame for the gas and power crisis in Europe as the current design ensures efficient and secure electricity supply under relatively ‘normal’…

U.S. Solar Industry Braces For Slump In New Capacity

U.S. Solar Industry Braces For Slump In New Capacity

Apr 29, 2022 at 08:05 | Irina Slav

The U.S. solar energy industry has warned it is facing a substantial slowdown in capacity additions due to persistent supply chain problems and the danger of import tariffs on low-cost…

Gazprom Says Poland Buys Russian Gas From Germany

Gazprom Says Poland Buys Russian Gas From Germany

Apr 29, 2022 at 08:00 | Tsvetana Paraskova

Poland is still purchasing Russian gas—via reverse flows from Germany—after Gazprom cut off direct gas supply to Poland on Wednesday, the Russian gas giant said on Thursday, as carried by…

Libya's Largest Oilfield Resumes Production

Libya's Largest Oilfield Resumes Production

Apr 29, 2022 at 07:41 | Irina Slav

Production has partially resumed at Libya's largest oil field after a force majeure was imposed on it earlier this month, the operator of the field, Spain's Repsol, told…

Extreme Weather Leads To Sharp Drop In North Dakota Oil Production

Extreme Weather Leads To Sharp Drop In North Dakota Oil Production

Apr 28, 2022 at 21:59 | Gandahari Cooray

A recent bout of bad weather has slashed oil production in North Dakota by almost 80 percent, and restoring the lost output could take several days. North Dakota,…

Biofuel Blending Mandates Expected As Soon As Next Week

Biofuel Blending Mandates Expected As Soon As Next Week

Apr 28, 2022 at 21:56 | Julianne Geiger

The United States Environmental Protection Agency is preparing to send biofuel blending mandates to the White House for review as early as the first part of next week, sources told…

Oil Closes Higher As Russia Strikes Kyiv During UN Visit

Oil Closes Higher As Russia Strikes Kyiv During UN Visit

Apr 28, 2022 at 15:41 | Charles Kennedy

Oil prices continued to tick higher to close on Thursday, as Russian airstrikes hit the Ukrainian capital Kyiv as the UN Secretary General was visiting.  In…

Democrats Go After Big Oil “Vultures” Over Gasoline Price Gouging

Democrats Go After Big Oil “Vultures” Over Gasoline Price Gouging

Apr 28, 2022 at 15:18 | Charles Kennedy

Democrats said on Thursday that they would propose legislation to allow state and federal agencies to “go after” oil companies over what Democratic lawmakers continue to describe as market…

TotalEnergies Looks To Divest Nigerian Asset, Joining Big Oil Exodus

TotalEnergies Looks To Divest Nigerian Asset, Joining Big Oil Exodus

Apr 28, 2022 at 13:16 | Charles Kennedy

France’s supermajor TotalEnergies plans to sell its minority stake in an onshore oil-producing joint venture in Nigeria in what will be the latest divestment of Nigerian oil assets by an…

Iran Boosts Oil Exports As Its Key Buyer China Cuts Russian Purchases

Iran Boosts Oil Exports As Its Key Buyer China Cuts Russian Purchases

Apr 28, 2022 at 12:26 | Tsvetana Paraskova

Iran’s oil exports jumped by 30 percent from last year to 870,000 barrels per day (bpd) in the first quarter of 2022, The Wall Street Journal reported on Thursday,…

Germany No Longer Opposed To Russian Oil Embargo

Germany No Longer Opposed To Russian Oil Embargo

Apr 28, 2022 at 11:10 | Tsvetana Paraskova

Germany, the main opponent of a full embargo on Russian oil imports into the European Union so far, has dropped its opposition to a ban, if given time to procure…

Algeria May Halt Gas Supply To Spain If It Doesn’t Stop Re-Exporting Gas

Algeria May Halt Gas Supply To Spain If It Doesn’t Stop Re-Exporting Gas

Apr 28, 2022 at 09:42 | Tsvetana Paraskova

Africa’s top natural gas exporter, Algeria, has warned Spain that it would consider Madrid sending Algerian deliveries to third countries a breach of contract, as Spain plans to send gas…

Exxon Declares Force Majeure On Sakhalin-1

Exxon Declares Force Majeure On Sakhalin-1

Apr 28, 2022 at 09:18 | Irina Slav

Exxon has declared force majeure on the Sakhalin-1 project that it operates with Russia's Rosneft due to Western sanctions against Moscow. According to the company's statement, as quoted by…

Total Takes $4 Billion Hit From Arctic LNG Project

Total Takes $4 Billion Hit From Arctic LNG Project

Apr 28, 2022 at 09:13 | City A.M

French energy giant TotalEnergies (Total) has taken a $4.1 billion hit following it withdrawal from a Russian liquiefied natural gas (LNG) project in the Arctic. It…

Washington Approves More U.S. LNG Exports For Europe

Washington Approves More U.S. LNG Exports For Europe

Apr 27, 2022 at 16:31 | Charles Kennedy

In response to Russia’s move to cut off gas to Poland and Bulgaria, the Biden administration has authorized more LNG shipments from two U.S. plants currently in the…

TotalEnergies Books $4.1 Billion Impairment Charge On Arctic LNG 2 Exit

TotalEnergies Books $4.1 Billion Impairment Charge On Arctic LNG 2 Exit

Apr 27, 2022 at 15:57 | Charles Kennedy

French TotalEnergies will include a $4.1-million impairment on its balance sheet over Russia sanctions that have led to difficulties with its massive Arctic LNG2 project,

Italy May Consider Nationalizing Giant Lukoil Refinery

Italy May Consider Nationalizing Giant Lukoil Refinery

Apr 27, 2022 at 14:33 | Charles Kennedy

Government sources have told Reuters that Italy may temporarily nationalize the ISAB refinery owned by Lukoil, Russia’s second-largest oil producer whose CEO resigned after being sanctioned by the…

Five Oil Pipeline Valves Reportedly Shut Down By German Activists

Five Oil Pipeline Valves Reportedly Shut Down By German Activists

Apr 27, 2022 at 10:42 | Charles Kennedy

German activists have allegedly succeeded in halting the flow of crude oil through pipelines at five separate locations in protest against the country’s foot-dragging on a ban on…

Gazprombank VP Flees Russia To Fight With Ukraine

Gazprombank VP Flees Russia To Fight With Ukraine

Apr 27, 2022 at 10:39 | Charles Kennedy

Igor Volobuev, vice president of state-owned Gazprombank, has confirmed that he has fled Russia and will fight with the Ukrainians against Kremlin forces after two other top executives…

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