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News

Putin Signs Decree That Bans “Unfriendly” Investors From Selling Energy Stakes

Putin Signs Decree That Bans “Unfriendly” Investors From Selling Energy Stakes

Aug 05, 2022 at 11:02 | Charles Kennedy

Russia banned companies from what it considers “unfriendly” countries from selling stakes in key energy projects and oil and gas production sharing agreements by the end of the year…

Germany’s Power Prices Hit Record-High As Utilities Limit Output

Germany’s Power Prices Hit Record-High As Utilities Limit Output

Aug 05, 2022 at 10:40 | Tsvetana Paraskova

Germany’s year-ahead electricity prices hit a record high on Friday after several utilities across Europe warned of lower power supply due to hot and dry weather that affects nuclear and…

Norway Considers Limiting Electricity Exports To Prevent Domestic Crunch

Norway Considers Limiting Electricity Exports To Prevent Domestic Crunch

Aug 05, 2022 at 10:05 | Torkel Nyberg

Norway may soon introduce a rule to reduce its vast electricity exports if levels at reservoirs for hydropower generation drop to critically low levels in a bid to prevent power…

Japan Asks Mitsui, Mitsubishi To Stay On In Crucial Sakhalin-2 Project

Japan Asks Mitsui, Mitsubishi To Stay On In Crucial Sakhalin-2 Project

Aug 05, 2022 at 10:01 | Irina Slav

The Japanese industry ministry has asked Mitsui and Mitsubishi to "think positively" about their participation in the Russian Sakhalin-2 oil and gas project after the Russian government announced it would…

Dry Weather To Impact Europe’s Power Generation Through September

Dry Weather To Impact Europe’s Power Generation Through September

Aug 05, 2022 at 09:32 | Tsvetana Paraskova

The hot and dry weather in Germany will continue through September, according to weather forecasts, which could constrain power generation in the country and nuclear power supply in France. Forecasters…

Yemen’s Houthis Claim Saudi-Backed Coalition Looted $13B In Oil

Yemen’s Houthis Claim Saudi-Backed Coalition Looted $13B In Oil

Aug 05, 2022 at 08:17 | Charles Kennedy

Yemen’s Houthi-led government has accused the country’s Saudi-backed coalition forces of siphoning off $13 billion in Yemeni oil revenues over the past five years, with reports claiming that…

Prices At The Pump Continue To Plunge, But Stronger Demand Could Halt The Trend

Prices At The Pump Continue To Plunge, But Stronger Demand Could Halt The Trend

Aug 04, 2022 at 12:27 | Charles Kennedy

The national average for a gallon of gas at the pump in the United States fell to $4.139 on Thursday, the 51st consecutive day the country has seen…

Permian’s Natural Gas Takeaway Capacity Set To Rise

Permian’s Natural Gas Takeaway Capacity Set To Rise

Aug 04, 2022 at 11:53 | Tsvetana Paraskova

U.S. pipeline operators and developers have recently announced five natural gas pipeline projects which are expected to increase the takeaway capacity from the Permian basin to demand centers near the…

China Starts Construction Of $22B Expansion Of Transmission Line Network

China Starts Construction Of $22B Expansion Of Transmission Line Network

Aug 04, 2022 at 09:59 | Charles Kennedy

China’s largest utility will soon begin the construction of some $22 billion of new long-distance, ultra-high-voltage transmission lines to connect more wind and solar installations to the grid. State Grid…

WTI Oil Dips Below $90 For The First Time Since Ukraine War Began

WTI Oil Dips Below $90 For The First Time Since Ukraine War Began

Aug 04, 2022 at 09:43 | Tsvetana Paraskova

The U.S. crude oil benchmark dipped early on Thursday to the lowest level in months, falling below $90 a barrel for the first time since Russia invaded Ukraine at the…

ConocoPhillips Raises Shareholder Payout By $5B On Profit Surge

ConocoPhillips Raises Shareholder Payout By $5B On Profit Surge

Aug 04, 2022 at 09:24 | Tsvetana Paraskova

ConocoPhillips (NYSE: COP) lifted its 2022 shareholder returns by $5 billion after reporting on Thursday tripled earnings from a year earlier, beating analyst expectations. Thanks to higher oil and…

Glencore Announces $3 Billion Share Buyback As Profits Soar

Glencore Announces $3 Billion Share Buyback As Profits Soar

Aug 04, 2022 at 09:20 | City A.M

Mining and commodities giant Glencore announced it would put $4.5bn back in shareholders pockets today after it reported record half-yearly profits of $18.9bn on the back of soaring…

Freeport LNG To Restart Most Production By October

Freeport LNG To Restart Most Production By October

Aug 04, 2022 at 08:49 | Irina Slav

Freeport LNG will resume most of its operations by October after the Pipeline and Hazardous Materials Safety Administration greenlit the restart. Freeport LNG said that the approval of the…

UN Chief Urges Tax On Oil Industry For

UN Chief Urges Tax On Oil Industry For "Grotesque Greed"

Aug 04, 2022 at 08:09 | Irina Slav

The secretary-general of the United Nations, Antonio Guterres, lashed out at the oil and gas industry, accusing it of "grotesque greed" and calling for additional taxes on their profits.…

Egyptian Port Serves As New Route For Russian Oil

Egyptian Port Serves As New Route For Russian Oil

Aug 03, 2022 at 14:29 | Alex Kimani

With western sanctions looming and many nations shunning it, Russia appears to have discovered a new gateway for its crude, with Bloomberg reporting that Moscow has for the…

UBS: UK Gas Crisis Set To Plunge British Pound To Historic Lows

UBS: UK Gas Crisis Set To Plunge British Pound To Historic Lows

Aug 03, 2022 at 13:15 | Charles Kennedy

The British pound is expected to plunge to a historically low level versus the U.S. dollar in the fourth quarter of this year, when the energy and gas crisis in…

German Chancellor: Germany Could Keep Nuclear Power Plants Operating After All

German Chancellor: Germany Could Keep Nuclear Power Plants Operating After All

Aug 03, 2022 at 11:46 | Julianne Geiger

Germany’s government has held firmly onto the belief that its nuclear power industry must be retired, even in the midst of an energy crisis. But today, it appears that could…

Hot Rivers To Limit French Nuclear Power Output Amid Energy Crisis

Hot Rivers To Limit French Nuclear Power Output Amid Energy Crisis

Aug 03, 2022 at 11:23 | Alex Kimani

Electricite de France SA, France’s state-owned utility, announced on Tuesday that it is highly likely it will be forced to extend cuts to nuclear generation as…

Restart Of Denmark’s Key Gas Field Delayed As Europe Scrambles For Supply

Restart Of Denmark’s Key Gas Field Delayed As Europe Scrambles For Supply

Aug 03, 2022 at 10:34 | Tsvetana Paraskova

The restart of the redeveloped Tyra gas field offshore Denmark has been delayed by at least several months to the end of 2023 or early 2024 due to supply chain…

Notoriously Delayed Gas Turbine Hasn't Reached Russia Yet

Notoriously Delayed Gas Turbine Hasn't Reached Russia Yet

Aug 03, 2022 at 10:18 | Tsvetana Paraskova

The saga with the notoriously late gas turbine delivery from Canada via Europe to Russia continues, as the turbine needed for a compressor station at the Nord Stream pipeline has…

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