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News

Oil Prices On Course For A Third Consecutive Weekly Loss

Oil Prices On Course For A Third Consecutive Weekly Loss

Nov 25, 2022 at 09:11 | Tsvetana Paraskova

Oil prices were rising in thin trade early on Friday but were headed to a third consecutive weekly loss amid growing fears of slowing demand in China where…

Germany Warns Of Rationing This Winter If Gas Storage Dips Below 40%

Germany Warns Of Rationing This Winter If Gas Storage Dips Below 40%

Nov 25, 2022 at 07:59 | Tsvetana Paraskova

Germany may have to take drastic measures such as gas rationing if levels of gas in storage drop below 40% by February 1st next year, according to the…

Chinese Oil Giant Spends $1.9 Billion On 5% Stake Of Huge Brazilian Oilfield

Chinese Oil Giant Spends $1.9 Billion On 5% Stake Of Huge Brazilian Oilfield

Nov 25, 2022 at 07:54 | Tsvetana Paraskova

China’s oil and gas giant CNOOC has paid Brazil’s Petrobras $1.9 billion to buy 5% in the production sharing contract for the huge Buzios offshore oilfield, the Brazilian…

Saudi Arabia And Iraq Reiterate Their Support For A Production Cut

Saudi Arabia And Iraq Reiterate Their Support For A Production Cut

Nov 25, 2022 at 07:47 | Charles Kennedy

Following a bilateral meeting on Thursday, the energy ministers of Saudi Arabia and Iraq reiterated their support for the oil production cut agreed upon last month.

More Bad News For Oil Demand As China’s Covid Cases Soar

More Bad News For Oil Demand As China’s Covid Cases Soar

Nov 25, 2022 at 07:16 | Irina Slav

Another spike in Covid infections in China is threatening more downward pressure for oil prices, as Chinese authorities reported a new daily record in new infections on Thursday.…

Deepwater Oil And Gas Production To Grow 60% By 2030

Deepwater Oil And Gas Production To Grow 60% By 2030

Nov 24, 2022 at 11:13 | Alex Kimani

Deepwater oil and gas production is set to increase by 60% by 2030, to contribute 8% of overall upstream production, according to a…

EU Fails To Agree On Gas Price Caps

EU Fails To Agree On Gas Price Caps

Nov 24, 2022 at 10:17 | Alex Kimani

Plans to introduce price caps on natural gas prices have hit a dead-end after EU energy ministers on Thursday failed to reach an…

A $65-$70 Price Cap On Russian Oil May Be Too High To Hurt Moscow

A $65-$70 Price Cap On Russian Oil May Be Too High To Hurt Moscow

Nov 24, 2022 at 09:51 | Tsvetana Paraskova

The planned price cap of $65-$70 per barrel for Russia’s oil is not expected to immediately shrink Putin’s oil revenues, considering that this is more or less the…

U.S. Rig Count Sees Small Increase In Thanksgiving Week

U.S. Rig Count Sees Small Increase In Thanksgiving Week

Nov 24, 2022 at 08:38 | Julianne Geiger

The number of total active drilling rigs in the United States rose by 2 this week, according to new data from Baker Hughes published on Wednesday instead of…

Researchers Aim To Understand A Power Grid Phenomenon

Researchers Aim To Understand A Power Grid Phenomenon

Nov 24, 2022 at 08:23 | Brian Westenhaus

For the first time, an international team, including researchers from the Karlsruhe Institute of Technology (KIT), researched how and why new transmission lines can also lead to grids…

Russia Claims It Thwarted Ukrainian Attack On South Stream Pipeline

Russia Claims It Thwarted Ukrainian Attack On South Stream Pipeline

Nov 24, 2022 at 08:12 | Charles Kennedy

Russia’s security services claim to have foiled an attempt by Ukrainian special services to carry out a “terrorist attack” on the South Stream gas pipeline, the Russian Federal…

Russia Rains Missiles On Ukraine’s Nuclear Power Plants

Russia Rains Missiles On Ukraine’s Nuclear Power Plants

Nov 24, 2022 at 08:04 | Charles Kennedy

A barrage of Russian missiles has forced the shut-down of six nuclear power plants at a time when the Ukrainian power infrastructure has already sustained significant damage, threatening…

Chevron Could Get Approval To Ramp Up Oil Production In Venezuela

Chevron Could Get Approval To Ramp Up Oil Production In Venezuela

Nov 23, 2022 at 13:18 | Charles Kennedy

Three well-placed unnamed sources have told Reuters that Washington could grant Chevron approval to significantly boost oil production in Venezuela as early as…

Officials Issue Warning To Texas Oil Country As “Freak Storm” Approaches

Officials Issue Warning To Texas Oil Country As “Freak Storm” Approaches

Nov 23, 2022 at 11:17 | ZeroHedge

One of the snowiest spots in the country during the Thanksgiving holiday is a very unlikely place: the Texas panhandle. Weather Underground provides two forecasts: the…

Uzbekistan’s Power Outages Persist Despite New 1.7 Billion KwH Power Plant

Uzbekistan’s Power Outages Persist Despite New 1.7 Billion KwH Power Plant

Nov 23, 2022 at 10:54 | Eurasianet

Uzbekistan has inaugurated a new power plant that will add enough generating capacity to supply around 230,000 households, but even that will not be sufficient to solve the…

Missiles In Ukraine Trigger Wave Of Outages In Moldova

Missiles In Ukraine Trigger Wave Of Outages In Moldova

Nov 23, 2022 at 10:20 | Julianne Geiger

Russian missiles landed in Ukraine on Wednesday, triggering a wave of electricity outages that cascaded into multiple nuclear power plant shutdowns. The missiles also triggered massive electricity outages in neighboring…

Fossil Fuel Firms Face 33% Windfall Tax In Germany

Fossil Fuel Firms Face 33% Windfall Tax In Germany

Nov 23, 2022 at 09:57 | Alex Kimani

The German government is said to be planning to introduce a special levy that will see the country’s oil, gas and coal firms pay 33%…

Moldova Dismisses Gazprom Allegations That Ukraine Is Withholding Gas Deliveries

Moldova Dismisses Gazprom Allegations That Ukraine Is Withholding Gas Deliveries

Nov 23, 2022 at 09:52 | RFE/RL staff

Moldova has accused Moscow of energy "blackmail" and dismissed allegations by Russian energy giant Gazprom that Ukraine is withholding deliveries intended for its neighbor as…

Uniper’s Bailout Costs Jump To $53 Billion After Russian Gas Supply Cuts

Uniper’s Bailout Costs Jump To $53 Billion After Russian Gas Supply Cuts

Nov 23, 2022 at 08:49 | Alex Kimani

Germany’s largest energy company Uniper is facing some $53 billion (51B euros) in extra costs for nationalization after Russia cut gas supplies to the struggling company.…

U.S. Authorizes Firms To Provide Services To Russian Oil Trade

U.S. Authorizes Firms To Provide Services To Russian Oil Trade

Nov 23, 2022 at 08:11 | Tsvetana Paraskova

U.S. persons are allowed to provide certain services relating to the maritime transportation of Russian oil as long as said crude oil is purchased at or below the…

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