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News

Rosneft Holds Rare Firesale for 38 Million Barrels Of Crude

Rosneft Holds Rare Firesale for 38 Million Barrels Of Crude

Apr 20, 2022 at 08:59 | Tsvetana Paraskova

Rosneft is offering as many as 37.4 million barrels of the flagship Urals crude for May and June loadings, according to a tender document seen by Bloomberg—a sign that…

Russian Crude Shipments Have Fallen 25% In A Week

Russian Crude Shipments Have Fallen 25% In A Week

Apr 19, 2022 at 16:40 | Julianne Geiger

The past seven days have seen shipments of Russian crude drop by 25%, as the Kremlin announces plans for building new export outlets to balance out the impact…

Unexpected Crude Draw Fails To Move Oil Prices

Unexpected Crude Draw Fails To Move Oil Prices

Apr 19, 2022 at 16:07 | Julianne Geiger

The American Petroleum Institute (API) reported a surprise draw this week for crude oil of 4.496 million barrels, compared to analyst predictions of a 2.533 million barrel build. U.S. crude…

Russia Clears Up Confusion Over Rubles For Gas Scheme

Russia Clears Up Confusion Over Rubles For Gas Scheme

Apr 19, 2022 at 13:26 | Julianne Geiger

Russia’s Foreign Minister Sergey Lavrov has issued a statement to India Today clarifying the rubles for gas mandate that has created confusion among Russia’s gas buyers, RT has reported on…

16 States Urge Biden To Bring Back Keystone XL

16 States Urge Biden To Bring Back Keystone XL

Apr 19, 2022 at 11:17 | Irina Slav

The attorney generals of 16 states have written to President Biden urging him to bring back to life the Keystone XL pipeline project in order to facilitate the import of…

U.S. Summer Gasoline Price Set To Be Highest Since 2014

U.S. Summer Gasoline Price Set To Be Highest Since 2014

Apr 19, 2022 at 10:08 | Tsvetana Paraskova

The U.S. national average retail gasoline and diesel prices are expected to be the highest since 2014 during this year’s summer driving season, with gasoline prices expected to average $3.84…

Ex Gazprombank Executive Found Dead In Alleged Murder-Suicide

Ex Gazprombank Executive Found Dead In Alleged Murder-Suicide

Apr 19, 2022 at 09:20 | Charles Kennedy

A former vice president at Russian bank Gazprombank—the bank at the center of Russia’s rubles-for-gas payment scheme—has killed his wife and daughter before killing himself in their Moscow apartment, police…

Federal Government Announces June Oil, Gas Lease Sale In Eight States

Federal Government Announces June Oil, Gas Lease Sale In Eight States

Apr 19, 2022 at 08:44 | Charles Kennedy

The U.S. federal government will hold oil and gas lease sales in at least eight states in June after a court overturned President Biden's moratorium on oil and gas drilling…

U.S. Gasoline Prices Fall Slightly, But More Pain Is Coming

U.S. Gasoline Prices Fall Slightly, But More Pain Is Coming

Apr 18, 2022 at 16:49 | Charles Kennedy

Gasoline prices in the United States have dropped to a national average of $4.087 per gallon, down from $4.114 a week ago, but with oil prices rising again…

German Industry Fears Immediate Russian Gas Ban

German Industry Fears Immediate Russian Gas Ban

Apr 18, 2022 at 15:15 | Charles Kennedy

As Europe continues to consider a ban on Russian energy exports, German business and unions are joining forces in opposition, warning that an immediate Russian natural gas ban…

EIA: Number Of DUCs Falls To Lowest On Record

EIA: Number Of DUCs Falls To Lowest On Record

Apr 18, 2022 at 14:51 | Julianne Geiger

The number of Drilled but Uncompleted Wells sank to its lowest level ever recorded, according to the Energy Information’s latest Drilling Productivity Report published on Monday. The number of Drilled…

EIA: U.S. Shale Production To See Sizeable Increase In May

EIA: U.S. Shale Production To See Sizeable Increase In May

Apr 18, 2022 at 14:44 | Julianne Geiger

U.S. Shale production in the seven most prolific shale basins is set to increase 132,000 bpd in May to 8.649 million bpd, according to the Energy Information Administration’s latest Drilling…

Libya Declares Force Majeure On Biggest Oilfield

Libya Declares Force Majeure On Biggest Oilfield

Apr 18, 2022 at 13:54 | Charles Kennedy

The Libyan National Oil Company (NOC) has declared force majeure on another key Libyan oil field, the 300,000 bpd Al Sharara, amid protests that had shut down production…

Europe Can Diversify From Russia Faster Than Believed: Draghi

Europe Can Diversify From Russia Faster Than Believed: Draghi

Apr 18, 2022 at 10:24 | Charles Kennedy

The European Union can diversify away from Russia in natural gas faster than previously believed, the Prime Minister of Italy, Mario Draghi, said this weekend. In an interview with Corriere…

High Energy Prices Lead To Power Cuts In Pakistan 

High Energy Prices Lead To Power Cuts In Pakistan 

Apr 18, 2022 at 10:00 | Tsvetana Paraskova

Soaring prices of liquefied natural gas (LNG) and coal on the international markets have left Pakistan, the world’s fifth-most populous nation, with having to cut electricity supply to households and…

Biden Restarts Oil Leasing on Federal Lands

Biden Restarts Oil Leasing on Federal Lands

Apr 18, 2022 at 09:13 | Irina Slav

President Biden has decided to remove a moratorium on oil and gas drilling on federal lands in a U-turn from campaign promises to prioritize a shift away from fossil fuels.…

Two Libyan Ports Shut Down Amid Anti-Government Protests

Two Libyan Ports Shut Down Amid Anti-Government Protests

Apr 18, 2022 at 08:37 | Irina Slav

Loadings of crude oil at two Libyan ports have been suspended amid anti-government protests that are interfering with the operation of the country's oil industry. The National Oil Corporation

Russia Says Some Buyers Agreed To Rubles-For-Gas Payments

Russia Says Some Buyers Agreed To Rubles-For-Gas Payments

Apr 15, 2022 at 13:15 | Tsvetana Paraskova

Some of Russia’s natural gas customers have agreed to pay in rubles for Russian gas, Deputy Prime Minister Alexander Novak said on Friday. Last month, Vladimir Putin said that…

National Grid: Excess UK Gas Supply Could Help Europe Boost Storage Levels

National Grid: Excess UK Gas Supply Could Help Europe Boost Storage Levels

Apr 15, 2022 at 12:50 | City A.M

The UK will have enough gas to meet demand this summer and could sell more supplies to Europe due to low storage levels on the continent, revealed National…

EU Warns Members That Paying Rubles For Gas Would Violate Sanctions

EU Warns Members That Paying Rubles For Gas Would Violate Sanctions

Apr 15, 2022 at 12:45 | ZeroHedge

An internal European Commission note, the contents of which has come to light and is being reported for the first time on Thursday, has spelled out that European…

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