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Breaking News:

Asian Oil Imports Dropped in April

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EU Set To Agree On Russia Oil Embargo With Pipeline Exemption: Report

EU Set To Agree On Russia Oil Embargo With Pipeline Exemption: Report

May 30, 2022 at 08:27 | Irina Slav

The European Union looks set to agree on an oil embargo against Russia that would exempt pipeline exports, Reuters has reported, citing a draft document to be discussed later…

One of Europe's Largest Gas Storage Sites Could Start The Winter Empty

One of Europe's Largest Gas Storage Sites Could Start The Winter Empty

May 27, 2022 at 15:48 | Tsvetana Paraskova

The Haidach gas storage site in Austria—one of central Europe's largest—may be unable to receive any natural gas ahead of next winter due to a lack of connections other than…

EU Could Exempt Pipeline Oil As It Seeks Deal On Russian Embargo

EU Could Exempt Pipeline Oil As It Seeks Deal On Russian Embargo

May 27, 2022 at 15:45 | Tsvetana Paraskova

The European Union is discussing the idea of temporarily exempting Russian oil supply via the Druzhba pipeline from a ban on imports of Russia's crude, as leaders are trying to…

Putin Assures Austria Gas Deliveries, Ready To Talk Prisoner Swap With Ukraine

Putin Assures Austria Gas Deliveries, Ready To Talk Prisoner Swap With Ukraine

May 27, 2022 at 13:57 | Julianne Geiger

Russian President Vladimir Putin reported to Austria on Friday that Russia would meet its natural gas delivery commitments and was ready to negotiate a prisoner swap with Ukraine,…

Europe's Largest LNG Unit Restarts

Europe's Largest LNG Unit Restarts

May 27, 2022 at 12:44 | Julianne Geiger

Equinor's Hammerfest LNG unit in Norway has been restarted after a September 2020 fire took it offline, the company reported on Friday. The unit is capable of producing 4.65 million…

U.S. Seizes Russian Tanker Full Of Iranian Crude Near Greece

U.S. Seizes Russian Tanker Full Of Iranian Crude Near Greece

May 27, 2022 at 12:01 | ZeroHedge

Fresh off of the US targeting a series of companies involved in an Iran-linked oil smuggling network, the US has now seized an…

British Energy Titans Tumble On Windfall Tax U-Turn

British Energy Titans Tumble On Windfall Tax U-Turn

May 27, 2022 at 11:24 | City A.M

London-listed energy companies that will be caught by Chancellor Rishi Sunak’s windfall tax tumbled during opening exchanges today. The capital’s premier FTSE 100 index was flat…

UK Oil Industry Threatens Investment Reconsideration

UK Oil Industry Threatens Investment Reconsideration

May 27, 2022 at 11:13 | Irina Slav

Some UK oil producers have suggested that the windfall tax announced yesterday by Chancellor Rishi Sunak could lead to a review of their investment plans for the North Sea. The…

G7 Calls On OPEC To Boost Oil Supply To Ease Tight Market

G7 Calls On OPEC To Boost Oil Supply To Ease Tight Market

May 27, 2022 at 10:23 | Charles Kennedy

The energy ministers of the world’s leading industrial nations on Friday urged OPEC to increase oil supply amid high oil prices that are hitting consumers and threatening an economic slowdown.…

EU Plans For Gas Supply Interruptions

EU Plans For Gas Supply Interruptions

May 27, 2022 at 08:52 | Irina Slav

The European Union is drafting contingency plans in case of natural gas supply interruptions, the Financial Times has reported, citing the European Commissioner for Energy, Kadri Simson. According to…

Biden Admin Proposes Lease Sale Off California Coast For Wind Developments

Biden Admin Proposes Lease Sale Off California Coast For Wind Developments

May 27, 2022 at 08:07 | Julianne Geiger

The United States announced that it will hold its first-ever wind power lease sales off the coast of California. The initial areas for offshore wind in the Pacific could bring…

U.S. Refiners Set To Add Just 350,000 Bpd Capacity By End-2023

U.S. Refiners Set To Add Just 350,000 Bpd Capacity By End-2023

May 26, 2022 at 14:14 | Charles Kennedy

U.S. refiners are operating at the highest operating rate since before the pandemic, but they are not expected to bring relief to the tight fuel market through major capacity expansions…

BP Reviews North Sea Investments In Wake Of UK’s Windfall Tax

BP Reviews North Sea Investments In Wake Of UK’s Windfall Tax

May 26, 2022 at 14:12 | Julianne Geiger

BP will review its oil and gas investments in the UK, the company said on Thursday, after UK Chancellor Rishi Sunak presented a plan earlier in the day that would…

Spain Initiates Energy Austerity With Air Conditioning Limits

Spain Initiates Energy Austerity With Air Conditioning Limits

May 26, 2022 at 12:56 | Charles Kennedy

Spain passed a decree this week limiting the use of air conditioning in public buildings as part of a strategy to conserve energy and reduce Europe’s dependence on Russian gas.…

OPEC+ Unlikely To Boost Oil Production More Than Planned

OPEC+ Unlikely To Boost Oil Production More Than Planned

May 26, 2022 at 11:31 | Tsvetana Paraskova

The OPEC+ group is expected to rubberstamp next week its moderate monthly increases in oil production when it decides output levels for July, six sources at OPEC+ told Reuters…

Here's How Russian Crude Is Finding Its Way To Customers

Here's How Russian Crude Is Finding Its Way To Customers

May 26, 2022 at 09:38 | Charles Kennedy

Small tankers and ship-to-ship transfers are being used to keep the flow of Russian oil to China steady, Bloomberg reported this week, citing sources from the brokering industry. Typically,…

EU Discussing Israeli LNG Imports

EU Discussing Israeli LNG Imports

May 26, 2022 at 08:37 | Irina Slav

The European Union is in talks with Israel to start importing Israeli natural gas that would be liquefied at an Egyptian facility, Bloomberg has reported, citing documents. Israel has…

Iranian-Russian ‘Oil Smuggling’ Network Hit With U.S. Sanctions

Iranian-Russian ‘Oil Smuggling’ Network Hit With U.S. Sanctions

May 25, 2022 at 15:15 | Charles Kennedy

Washington has imposed sanctions on an oil smuggling network led by figures connected to Iran’s Revolutionary Guards and allegedly backed by the Russian government. “Today, the…

White House Advisors Had Secret Meeting With Saudi Arabia To Discuss Energy

White House Advisors Had Secret Meeting With Saudi Arabia To Discuss Energy

May 25, 2022 at 14:44 | Julianne Geiger

Two senior White House advisors on Tuesday met in secret with senior Saudi officials to discuss a deal to increase oil production, three current and former U.S. officials told Axios.…

Hungary Imposes Windfall Tax On Energy Companies

Hungary Imposes Windfall Tax On Energy Companies

May 25, 2022 at 13:19 | Charles Kennedy

A day after declaring a state of emergency, Hungarian leader Viktor Orban said on Wednesday that big companies operating in the country, including energy companies, would be forced…

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