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U.S. Shale Oil Production Growth Is Slowing Down

U.S. Shale Oil Production Growth Is Slowing Down

When the illusion of unending…

The Great Game Returns to Central Asia

The Great Game Returns to Central Asia

Central Asia is emerging as…

News

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…

Europe Turns To North Sea Oil To Replace Russian Supply

Europe Turns To North Sea Oil To Replace Russian Supply

Apr 27, 2022 at 10:29 | Tsvetana Paraskova

Refiners in Europe have significantly raised purchases of North Sea crude grades in recent weeks as they look to replace as much Russian crude as soon as possible, ship-tracking data…

Canada Oil Industry Needs $51 Billion To Decarbonize

Canada Oil Industry Needs $51 Billion To Decarbonize

Apr 27, 2022 at 09:16 | Irina Slav

Canada’s oil sands producers would need investments amounting to some US$51 billion (C$65 billion) to be able to reduce its emissions footprint while increasing production in line with demand, RBC…

Russia Suspends Gas Deliveries To Poland, Bulgaria

Russia Suspends Gas Deliveries To Poland, Bulgaria

Apr 27, 2022 at 08:05 | Irina Slav

Russia's state gas major Gazprom has suspended the deliveries of natural gas to Poland and Bulgaria, according to Polish and Bulgarian sources. Russia's Vedomosti reported that a source…

ExxonMobil Hikes Resource Estimate After 3 New Guyana Discoveries

ExxonMobil Hikes Resource Estimate After 3 New Guyana Discoveries

Apr 26, 2022 at 18:50 | Gandahari Cooray

ExxonMobil has increased its estimate of the gross discovered recoverable resource estimate for its Stabroek Block in offshore Guyana to 11 billion oil-equivalent barrels

Trafigura To Sever All Ties With Russia’s Rosneft By May 15th

Trafigura To Sever All Ties With Russia’s Rosneft By May 15th

Apr 26, 2022 at 18:37 | Gandahari Cooray

Global commodities giant Trafigura confirmed today that it will stop all crude oil purchases from Russian state-backed Rosneft by May 15th. It is the latest commodities trader to cut ties…

Oil Prices Fall On Larger Than Expected Crude Inventory Build

Oil Prices Fall On Larger Than Expected Crude Inventory Build

Apr 26, 2022 at 16:11 | Julianne Geiger

The American Petroleum Institute (API) reported a surprise build this week for crude oil of 4.784 million barrels, compared to analyst predictions of a much smaller 600.000 barrel build. U.S.…

Germany Could Ban Russian Oil In ‘Days’

Germany Could Ban Russian Oil In ‘Days’

Apr 26, 2022 at 14:47 | Charles Kennedy

Germany has already cut Russian oil imports by over 20%, with officials now spreading optimism that it could be only a matter of days before the country is…

Polish Media: Russia Has Halted Gas Supplies To The Country

Polish Media: Russia Has Halted Gas Supplies To The Country

Apr 26, 2022 at 12:01 | Charles Kennedy

Poland announced on Tuesday that it was preparing to impose sanctions on 50 Russian oligarchs and companies, as Polish media report that Russia has stopped gas deliveries to…

Kazakhstan's Crucial CPC Pipeline Is Back Online

Kazakhstan's Crucial CPC Pipeline Is Back Online

Apr 26, 2022 at 11:03 | Eurasianet

A pipeline that Kazakhstan uses to export most of its oil began operating at full capacity over the weekend, one month after key offloading infrastructure was allegedly damaged…

Russian Energy Tycoons & Families Found Dead In Suspicious Circumstances

Russian Energy Tycoons & Families Found Dead In Suspicious Circumstances

Apr 26, 2022 at 11:02 | Tsvetana Paraskova

Several Russian oligarchs, who have either worked at energy firms or amassed their fortune from oil and gas, have been found dead in suspicious circumstances, not only in Russia but…

Steel Demand Is Dwindling As China Grapples With New Lockdowns

Steel Demand Is Dwindling As China Grapples With New Lockdowns

Apr 26, 2022 at 10:49 | Metal Miner

Steel prices for hot-rolled coil in Europe have started to decline as end-users push back from earlier offers. Meanwhile, benchmark iron ore prices in China dropped, due to…

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