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News

Unsold Oil Forces Russian Operator To Cap Pipeline Flows

Unsold Oil Forces Russian Operator To Cap Pipeline Flows

Mar 29, 2022 at 08:52 | Tsvetana Paraskova

Transneft, the Russian oil pipeline operator, has informed local oil companies that it would be capping the intake of yet-to-be-sold crude because of full storage as buyers in the West…

What To Expect From This Week’s OPEC+ Meeting

What To Expect From This Week’s OPEC+ Meeting

Mar 28, 2022 at 17:34 | Julianne Geiger

The OPEC+ group is set to meet on Thursday this week to determine the output levels for production beginning in May—and as volatile oil prices stick well above $100 per…

India Will Not Pay In Rupees For Russian Oil, For Now

India Will Not Pay In Rupees For Russian Oil, For Now

Mar 28, 2022 at 14:14 | Tsvetana Paraskova

For the time being, India will not pay in rupees for oil from Russia or any other oil exporter, the junior petroleum minister of the world’s third-largest oil importer

The Threat Of A Global Food Crisis Is Growing

The Threat Of A Global Food Crisis Is Growing

Mar 28, 2022 at 12:32 | RFE/RL staff

The effects of the war in Ukraine are already being felt across the world, from rocking world energy markets to spurring a growing refugee crisis in Europe.

Cabinet Clash Jeopardizes New Wind Project In The UK

Cabinet Clash Jeopardizes New Wind Project In The UK

Mar 28, 2022 at 12:27 | City A.M

A cabinet row about offshore wind threatens to destabilize the UK’s energy policy, as a new poll suggests 90 percent of Brits would be happy to live near…

Kurdistan Says It Can Help Ease Europe's Oil Shortage

Kurdistan Says It Can Help Ease Europe's Oil Shortage

Mar 28, 2022 at 12:13 | Charles Kennedy

The semi-autonomous Iraqi region of Kurdistan has the capacity now to make up for at least some of the shortfalls of oil in Europe if the federal Iraqi government supports…

Deadline For Rubles For Gas Scheme Approaches

Deadline For Rubles For Gas Scheme Approaches

Mar 28, 2022 at 11:31 | Charles Kennedy

Russian President Vladimir Putin has instructed Gazprom, the central bank of Russia, and the Russian government to come up with a report by the end of March on how to…

Vampire Kangaroo Takes Over Critical UK Gas Transmission Business

Vampire Kangaroo Takes Over Critical UK Gas Transmission Business

Mar 28, 2022 at 10:02 | Charles Kennedy

An Australian investment bank has bought a 60-percent stake in the gas transmission system of National Grid, a top UK electricity and gas utility. Macquarie, known as "the vampire kangaroo",…

Europe Scrambles To Accommodate LNG Import Surge

Europe Scrambles To Accommodate LNG Import Surge

Mar 28, 2022 at 09:30 | Tsvetana Paraskova

While Europe is set to import an increasing amount of liquefied natural gas (LNG) as part of its efforts to reduce reliance on Russian pipeline gas, the European market is…

China's Sinopec Bows Out Of Russian Petchem, Gas Projects

China's Sinopec Bows Out Of Russian Petchem, Gas Projects

Mar 25, 2022 at 15:15 | Julianne Geiger

China's state-run oil refiner, Sinopec, has paused discussions with Russia about a petrochemical investment and a deal to market Russian gas in China, Reuters sources suggested on Friday. Reuters sources…

EU Intake Of Russian Gas Remains High Amid Lower Wind Output

EU Intake Of Russian Gas Remains High Amid Lower Wind Output

Mar 25, 2022 at 14:34 | Charles Kennedy

While the European Union looks for ways to reduce its imports of Russian gas, flows via Ukraine remain high, at 109 million cu m daily amid lower wind energy output.…

Saudi Aramco Facility Fire ‘Under Control’

Saudi Aramco Facility Fire ‘Under Control’

Mar 25, 2022 at 13:10 | Damir Kaletovic

A fire that broke out as a result of a Houthi missile strike on a Saudi Aramco oil storage facility in Jeddah earlier today is now under control, according to…

Canada Plans Oil Export Ramp-Up

Canada Plans Oil Export Ramp-Up

Mar 25, 2022 at 11:31 | Charles Kennedy

Canada plans to boost its crude oil exports as Western importers turn away from Russian crude. The country could increase oil exports by some 200,000 bpd from current rates, the…

Lithium Price Surge Jeopardizes Energy Transition Efforts

Lithium Price Surge Jeopardizes Energy Transition Efforts

Mar 25, 2022 at 09:52 | Charles Kennedy

Soaring lithium prices are threatening energy transition efforts as EV battery makers will be forced to hike the prices for their products by as much as 25 percent, Morgan Stanley…

Russia Mulls Over Accepting Crypto For Oil Payments

Russia Mulls Over Accepting Crypto For Oil Payments

Mar 25, 2022 at 09:28 | Irina Slav

Russia is considering digital currencies as one of its accepted means of payment for oil and gas, the BBC has reported, citing a Russian lawmaker. According to Pavel Zavalny,…

EU Leaders Scoff At Putin's Rubles-For-Gas Demand

EU Leaders Scoff At Putin's Rubles-For-Gas Demand

Mar 24, 2022 at 16:33 | RFE/RL staff

Several leaders from European Union members have scoffed at Russia's demand that some "unfriendly" countries will be forced to pay for its natural gas and oil in rubles, saying the…

Germany’s Utilities: Gas Supply Will Worsen

Germany’s Utilities: Gas Supply Will Worsen

Mar 24, 2022 at 15:32 | Tsvetana Paraskova

The association of German utilities is calling on the federal government to create a system for early warning about a potential drop in gas supply, noting that there are…

UK And The U.S. Cooperate To Send More LNG To Europe

UK And The U.S. Cooperate To Send More LNG To Europe

Mar 24, 2022 at 15:28 | Tsvetana Paraskova

The United States and the United Kingdom have agreed to send more liquefied natural gas (LNG) cargoes from Baltimore to the UK and then on to Europe, the British Ambassador…

EU Assesses No-Russian-Gas Scenario For Next Winter

EU Assesses No-Russian-Gas Scenario For Next Winter

Mar 24, 2022 at 14:29 | Tsvetana Paraskova

As part of drafting contingency plans to meet natural gas demand, the European Union is currently assessing all scenarios, including the possibility of a halt in Russian gas supply to…

Diesel Crisis In Europe Worsens As Austrian Energy Giant Limits Sales

Diesel Crisis In Europe Worsens As Austrian Energy Giant Limits Sales

Mar 24, 2022 at 12:18 | ZeroHedge

Earlier this week, we quoted the heads of some of the world's biggest independent energy trades, who spoke at the FT Commodities Global Summit in Lausanne, Switzerland and unveiled a dire…

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