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China Looks To Invest In World's Largest Offshore Gas Project

China Looks To Invest In World's Largest Offshore Gas Project

Jun 17, 2022 at 09:16 | Charles Kennedy

Chinese state-owned energy companies are negotiating investments in the expansion of Qatar’s North Field and are ready to close long-term supply contracts, Reuters has reported,…

G7 Could Discuss Price Cap On Imports Of Russian Energy

G7 Could Discuss Price Cap On Imports Of Russian Energy

Jun 17, 2022 at 09:03 | Tsvetana Paraskova

The world’s leading industrial nations could discuss the idea of imposing price caps on imports of energy from Russia at a summit later this month, sources with knowledge of the…

U.S. Increases Heavy Crude Imports

U.S. Increases Heavy Crude Imports

Jun 17, 2022 at 08:48 | Charles Kennedy

The United States has stepped up heavy crude oil imports, with the May volumes hitting the highest in two years, according to customs data cited by Reuters. The ramp-up…

With No Nuclear Deal In Sight, U.S. Slaps Extra Sanctions On Iran

With No Nuclear Deal In Sight, U.S. Slaps Extra Sanctions On Iran

Jun 16, 2022 at 15:32 | Charles Kennedy

With no nuclear deal with Iran in sight, the United States Treasury has slapped additional sanctions on companies based in Iran, China and the UAE for enabling the…

OPEC+ Is 2.7 Million Bpd Below Oil Production Target

OPEC+ Is 2.7 Million Bpd Below Oil Production Target

Jun 16, 2022 at 14:54 | Charles Kennedy

The OPEC+ group was falling behind its overall crude oil production target by a massive 2.695 million barrels per day (bpd) in May due to Western sanctions on Russia and…

Europe Follows U.S. Fed With Record-Breaking Rate Hikes

Europe Follows U.S. Fed With Record-Breaking Rate Hikes

Jun 16, 2022 at 12:53 | Charles Kennedy

Following the U.S. Fed’s biggest rate hike since 1994 on Wednesday, which brought oil prices down 1%, central banks across Europe on Thursday…

Gazprom Lowers Gas Flows To Italy Even More

Gazprom Lowers Gas Flows To Italy Even More

Jun 16, 2022 at 12:43 | Julianne Geiger

Italy's Eni is only receiving 65% of requested volumes of gas from Russia, the state-run company said on Thursday, after Russia's Wednesday announcement that it would cut natural gas flows…

Russia Says It May Cooperate With OPEC+ Deal Even After 2022

Russia Says It May Cooperate With OPEC+ Deal Even After 2022

Jun 16, 2022 at 12:37 | Tsvetana Paraskova

Russia could continue its participation in the OPEC+ oil production agreement even after it officially expires at the end of this year, Russian Deputy Prime Minister Alexander Novak said…

Energy Secretary To Discuss High Gas Prices With Refining Executives

Energy Secretary To Discuss High Gas Prices With Refining Executives

Jun 16, 2022 at 12:21 | Tsvetana Paraskova

U.S. Secretary of Energy Jennifer Granholm is set to discuss gasoline prices at a meeting with refining executives next week, sources with knowledge of the plans told Reuters on…

Novak: Russia Is Raising Oil Production

Novak: Russia Is Raising Oil Production

Jun 16, 2022 at 12:10 | Tsvetana Paraskova

Russia is raising its oil production this month compared to May and expects to further boost output in July, Russian Deputy Prime Minister Alexander Novak said on Thursday. Russia…

Russia’s Largest Gas Field On Fire After Pipe Bursts

Russia’s Largest Gas Field On Fire After Pipe Bursts

Jun 16, 2022 at 09:23 | Charles Kennedy

A huge fire erupted on Thursday at the biggest natural gas field in Russia, Urengoy in Western Siberia, after a pipe burst. The fire has been extinguished, and production…

Zelensky Calls For Seventh EU Sanctions Package Against Russia

Zelensky Calls For Seventh EU Sanctions Package Against Russia

Jun 16, 2022 at 09:12 | RFE/RL staff

President Volodymyr Zelensky has called on the European Union to ratchet up its sanctions regime on Russia, calling for a seventh EU package of punitive measures against Moscow…

"They're Afraid Prices Will Skyrocket" U.S. Fears EU Tanker Insurance Ban

Jun 16, 2022 at 07:40 | Irina Slav

The United States has called on European governments to find a way to soften the blow that the oil market will suffer after a ban on insurance for vessels carrying…

Exxon Hits Back At Biden After Investment Accusations

Exxon Hits Back At Biden After Investment Accusations

Jun 16, 2022 at 07:03 | Irina Slav

Exxon has been investing more than it has been earning in the past five years, with the level of investments in new oil and gas supply double the level of…

U.S. Natural Gas Rises Over 4.5% Amid Pre-Summer Heat Wave

U.S. Natural Gas Rises Over 4.5% Amid Pre-Summer Heat Wave

Jun 15, 2022 at 17:16 | Charles Kennedy

After plunging to a 5-week-low on Tuesday, natural gas prices in the U.S. have ramped up again, gaining 4% on Wednesday on excessive temperatures expected to last through…

Oil Prices Fall On Biggest Fed Rate Hike Since 1994

Oil Prices Fall On Biggest Fed Rate Hike Since 1994

Jun 15, 2022 at 13:33 | Tom Kool

In its largest hike since 1994, the Federal Reserve raised rates by three-quarters of a percentage point, or 75 basis points, with oil prices responding by drawing down…

IEA: Fuel Crunch To Persist Despite Solid Refining Recovery

IEA: Fuel Crunch To Persist Despite Solid Refining Recovery

Jun 15, 2022 at 13:27 | Tsvetana Paraskova

Fuel markets, especially those of diesel and kerosene, may continue to be very tight amid uneven global demand growth rates and limits in the refining capacity, the International Energy Agency…

Saudi Aramco May Merge Trading Units Ahead Of IPO

Saudi Aramco May Merge Trading Units Ahead Of IPO

Jun 15, 2022 at 11:33 | Charles Kennedy

Ahead of potential IPO plans for its trading arm, Saudi Aramco is eyeing a merger between Aramco Trading Co and Motiva Trading, Reuters reported

Lockdowns Lead To Major Decline in China's Refining Output

Lockdowns Lead To Major Decline in China's Refining Output

Jun 15, 2022 at 11:28 | Tsvetana Paraskova

Strict lockdowns in Shanghai and the resulting depressed fuel demand led in May to the largest annual decline in Chinese refinery production in at least the past decade, official data…

Total Energies Is Betting Big On Green Hydrogen In India

Total Energies Is Betting Big On Green Hydrogen In India

Jun 15, 2022 at 10:44 | City A.M

Total Energies takes stake in Indian renewable specialist to back giant green hydrogen project. Green hydrogen is produced by splitting water into hydrogen and oxygen using…

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