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News

Ship-To-Ship Loadings Of Urals Hit Record High As Russian Oil Heads To Asia

Ship-To-Ship Loadings Of Urals Hit Record High As Russian Oil Heads To Asia

Feb 07, 2023 at 08:16 | Tsvetana Paraskova

Loadings of Russia’s flagship Urals crude using ship-to-ship (STS) transfers in the Mediterranean surged eight times in January from December to a record in the first full month in which…

California Governor Urges Federal Inquiry Into Surging Natural Gas Prices

California Governor Urges Federal Inquiry Into Surging Natural Gas Prices

Feb 07, 2023 at 08:09 | Tsvetana Paraskova

California’s Governor Gavin Newsom has called on the federal authorities to launch an investigation into the soaring natural gas prices in California and the rest of the Western U.S.,…

BP Becomes The Latest Oil Major To Report Record-Breaking Profits

BP Becomes The Latest Oil Major To Report Record-Breaking Profits

Feb 07, 2023 at 05:15 | Tsvetana Paraskova

BP (LON: BP) became the latest oil and gas supermajor to report record earnings for 2022, more than doubling its profit last year as oil and gas prices surged.…

Earthquakes Cause Severe Damage To Turkey’s Energy Infrastructure

Earthquakes Cause Severe Damage To Turkey’s Energy Infrastructure

Feb 07, 2023 at 02:58 | Charles Kennedy

Turkey’s energy infrastructure has suffered severe damage from the two earthquakes that shook Turkey and neighbor Syria yesterday, killing more than 3,000 people, according to the country’s government. The first…

India Looks To Boost Natural Gas Consumption With Long-Term LNG Deals

India Looks To Boost Natural Gas Consumption With Long-Term LNG Deals

Feb 07, 2023 at 01:59 | Irina Slav

India plans to secure long-term deals for the supply of liquefied natural gas in a bid to reduce the share of coal in its energy mix. The biggest gas importer…

Rosneft CEO: The Price Of Russia’s Flagship Oil Will Now Be Set By Asia

Rosneft CEO: The Price Of Russia’s Flagship Oil Will Now Be Set By Asia

Feb 07, 2023 at 00:52 | Irina Slav

The price of Russia’s flagship Urals oil blend is no longer set by Europe but by Asia, which has become the largest market for the commodity, Rosneft’s chief executive Igor…

Neo-Nazis Charged With Plotting To Attack U.S. Energy Grid

Neo-Nazis Charged With Plotting To Attack U.S. Energy Grid

Feb 06, 2023 at 14:19 | Charles Kennedy

Federal authorities have arrested and charged a neo-Nazi man and a woman from Maryland for plotting to attack Baltimore-area electrical substations.

Russian Fiscal Budget Shows 35% Decline For January

Russian Fiscal Budget Shows 35% Decline For January

Feb 06, 2023 at 12:27 | Charles Kennedy

Official figures from the Russian Finance Ministry on Monday show a 35% decline in fiscal budget revenues in January, compared to the same period last year, reporting a…

India Predicts 500% Increase In Domestic Natural Gas Demand

India Predicts 500% Increase In Domestic Natural Gas Demand

Feb 06, 2023 at 11:28 | Charles Kennedy

Indian Prime Minister Narendra Modi on Monday projected that the country’s gas demand would rise 500% due to the rapid pace of development, while its share of global…

GM Partners With Netflix To Promote Electric Vehicles

GM Partners With Netflix To Promote Electric Vehicles

Feb 06, 2023 at 08:51 | ZeroHedge

If you had "Netflix partnering with GM" on your unlikely corporate tie-up Bingo card for 2023, you can now cross that square off. That's because last…

Russian Fuel Oil Flows To Asia As EU Ban Takes Effect

Russian Fuel Oil Flows To Asia As EU Ban Takes Effect

Feb 06, 2023 at 08:35 | Charles Kennedy

Russia had diverted most of its fuel oil and vacuum gasoil (VGO) exports to Asia and the Middle East even before the EU embargo on Russian petroleum products came into…

Chevron Looks To Seal Gas Exploration Deal In Algeria

Chevron Looks To Seal Gas Exploration Deal In Algeria

Feb 06, 2023 at 08:03 | Michael Kern

U.S. supermajor Chevron has increased efforts to reach an energy exploration agreement with Algeria and is assessing the North African country’s estimated huge shale gas resources, The Wall Street Journal…

Saudi Arabia Surprises Markets By Increasing Oil Prices To Asia

Saudi Arabia Surprises Markets By Increasing Oil Prices To Asia

Feb 06, 2023 at 07:37 | Tsvetana Paraskova

On Monday, Saudi Arabia raised the official selling price of its flagship crude going to Asia in March. The hike, which was the first in six months, was due to…

Operations Halted At Ceyhan Oil Terminal After Huge Earthquake

Operations Halted At Ceyhan Oil Terminal After Huge Earthquake

Feb 06, 2023 at 05:52 | Tsvetana Paraskova

The Ceyhan oil terminal in southern Turkey has halted operations after the devastating earthquake in Turkey and Syria early on Monday, Tribeca Shipping Agency said, as carried by Reuters.…

Technical Fault Forces Huge Norwegian Oilfield Offline

Technical Fault Forces Huge Norwegian Oilfield Offline

Feb 06, 2023 at 05:00 | Tsvetana Paraskova

Oil production at Norway’s huge Johan Sverdrup 1 oilfield was halted on Monday due to a technical fault and reduced power supply, the operator of the field, Norwegian energy major…

Hong Kong Still Hopes To Lure Aramco To Stock Exchange

Hong Kong Still Hopes To Lure Aramco To Stock Exchange

Feb 06, 2023 at 02:56 | Charles Kennedy

Hong Kong is still hoping to convince Aramco to make its secondary listing on the city-state’s stock exchange, the chief executive of the city has said. Several years ago, when…

EU Embargo On Russian Oil Products Enters Into Effect

EU Embargo On Russian Oil Products Enters Into Effect

Feb 06, 2023 at 01:34 | Irina Slav

As of Sunday, no Russian oil products can be imported into the European Union, per the latest sanction hit of Brussels against Moscow. The embargo has been combined with a…

Goldman Sachs Warns Of An Imminent Oil Supply Shortage

Goldman Sachs Warns Of An Imminent Oil Supply Shortage

Feb 06, 2023 at 01:22 | Irina Slav

Crude oil could soon swing into a deficit that will make next year a difficult one, Goldman Sachs said, as spare production capacity dwindles and underinvestment threatens future supply. Speaking…

Iran To Help Venezuela Overhaul Major Refinery Complex

Iran To Help Venezuela Overhaul Major Refinery Complex

Feb 03, 2023 at 16:26 | Julianne Geiger

Venezuela’s Paraguana refinery complex is soon to begin a 100-day overhaul to reclaim its crude distillation capacity, anonymous Reuters sources suggested on Friday, with work set to be completed as…

EU Supports $100 Russian Diesel Price Cap

EU Supports $100 Russian Diesel Price Cap

Feb 03, 2023 at 12:54 | Julianne Geiger

EU members have agreed to support a price cap level of $100 per barrel on Russian diesel sales to third-party countries, people familiar with the matter told Bloomberg on Friday…

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