Oil steadied in Asia after rallying back above $100 a barrel as Russian President Vladimir Putin vowed to continue the war in Ukraine, which has rattled markets and tightened global crude supply.
US president Joe Biden has told Indian Prime Minister Narendra Modi that increasing oil imports from Russia is not in India’s interest.
China is slashing liquefied natural gas (LNG) purchases as soaring global prices deepen import losses and pandemic lockdowns throttle domestic demand.
OMV has taken a charge of around 2 billion euros ($2.17 billion) on the exit of its Russian holdings.
Boris Johnson is set to meet the German Chancellor as they look to discuss how to help European countries wean themselves off Russian gas following the attack on Ukraine.
High energy prices have revived interest in Africa’s oil and gas, but financing remains painfully hard to secure, amid ESG uncertainty.
The war in Ukraine has caused many businesses to rapidly reassess projects in Russia, involving Russian nationals with ties to the Kremlin or the importation of Russian goods. This may stem from an ethical or reputational perspective, or to ensure compliance with sanctions.
US-based NextDecade will supply China’s ENN with 1.5 million tonnes per year (mtpy) of liquefied natural gas (LNG) for 20 years, starting as early as 2026, from the proposed Rio Grande export project in Texas. Significantly, this is the fourth US-China LNG deal struck in the past two weeks.
Avenir LNG has teamed up with Lithuania’s Achema Gas Trade for a first LNG reloading at the Klaipeda terminal.
Oil advanced for a second day as the US and Europe prepared to impose a fresh wave of sanctions on Russia for alleged atrocities committed by its forces against civilians in Ukraine.
China’s top liquefied natural gas (LNG) importers are cautiously looking to purchase additional Russian shipments that have been shunned by the market in a bid to take advantage of cheap prices.
About 650,000 barrels per day (b/d) of Russian crude oil are to be relocated from advanced economies, and the solution could be ‘crude swapping’, says Wood Mackenzie. Significantly, Russia’s key market China not shoring up large volumes yet.
The definitions of Environmental, social and corporate governance (ESG) have been challenged by Russia’s invasion of Ukraine, nowhere more so than in the energy sector, where companies have been forced by events to exit Russia abruptly and energy prices have soared to record levels.
I recently heard a BBC Scotland reporter state, almost as a throw-away “fact” about energy problems arising from the Ukraine war, that Scotland is, of course, unaffected because we produce more power than we consume.
Europe’s ambitious timetable for building its way out of a dependence on Russian energy faces potential delays and billions of dollars in extra costs as the war in Ukraine makes steel, copper and aluminium scarce and more expensive.
Oil prices have fallen to levels that don’t reflect the risk of disruptions to Russian exports or the ability of China to keep the coronavirus pandemic under control, according to the world’s biggest independent crude trader.
OPEC and its allies once again stood back from the crisis engulfing oil markets, refusing to deviate from their schedule of gradual production increases as the U.S. considered an unprecedented release from emergency crude stockpiles.
Europe has woken up to LNG demand as a means to provide energy security, even while such a move appears out of step with countries’ net zero commitments.
BP has reached out to state-backed firms in Asia and the Middle East as it searches for a way to offload its Russian assets.
TotalEnergies CEO Patrick Pouyanné has stood up, once more, for the company’s values – but defended the purchases of Russian LNG.
Siccar Point Energy and Shell have been granted a two-year extension to the licences for the Cambo oil field, paving a potential future for the project.
Billionaire Elon Musk is coming to the ONS conference in Stavanger later this year.
Oil rebounded in Asian trading as investors cautiously assessed the outlook for a de-escalation of Russia’s war in Ukraine, which has entered its second month and rattled markets worldwide.
Indonesian state energy company Pertamina is considering buying crude from Russia as it seeks oil for a newly revamped refinery, chief executive officer Nicke Widyawati said earlier this week, reported Reuters.
Oil kept falling after capping the biggest loss in almost three weeks on concern that a virus flare-up in China will weigh on global demand.