Oil rally pauses as traders take stock of Ukraine crisis, Iran
Oil headed for a weekly loss as investors weighed the crisis over Ukraine and the possibility that Iran’s nuclear deal may be revived.
Ukraine
Oil markets react to Russian de-escalation, but relief seems temporary, says Rystad
Global oil markets are reacting to news from Eastern Europe that Russia has retracted troops from the Ukrainian border. However, price relief may be short-lived as bullish factors remain, reckons consultancy Rystad Energy.
Oil drops after Russia says some troops returning to bases
Oil fell after Russia said some troops are starting to return to their permanent bases, easing geopolitical tensions that have rallied prices.
LNG imports will not save Europe if Russia cuts all gas flows
If the disruption to Russian gas deliveries spread beyond flows through Ukraine to include all Russian pipeline exports to Europe, liquefied natural gas (LNG) imports alone would not be able to meet the shortfall and additional supply levers would be required, the latest analysis from IHS Markit shows. Under such an extreme scenario mothballed coal and nuclear power would need to be restarted.
Russia and China strengthen ties with latest gas pipeline deal
Russia and China are strengthening their energy alliance after agreeing another long-term gas pipeline supply deal amid Moscow’s strained relationship with the West over Ukraine and European gas supply issues.
Japan to ensure its own gas supply before aiding Europe
Japan will make sure its own energy demands are met before aiding Europe with shipments of liquefied natural gas (LNG) in the event conflict erupts over Ukraine, according to the nation’s trade minister.
Biden scours globe to send Europe gas if Russia hits Ukraine
The Biden administration and European allies are searching the world for surplus natural gas to send to Europe in the event conflict erupts over Ukraine, including approaching China about its supplies, according to people familiar with the matter.
Oil climbs near seven-year high as traders count down to OPEC+
Oil climbed ahead of an OPEC+ meeting that may endorse another modest lift in output, with traders speculating that the actual increase delivered by members could again fall short of the headline figure.
BP’s Russia risk rises again as Ukraine crisis simmers
Of all the international oil majors, BP potentially has the most to lose if the situation in Ukraine triggers a crisis between Russia and the West.
$100 oil may be coming within months, Chevron CEO says
$100 oil prices are possible in the next few months as geopolitical risks and “struggling” supply hit global crude markets, said the chief executive of Chevron.
UK energy ‘vulnerable’ to price shock from Russia-Ukraine tensions: OGUK
UK energy prices will be “vulnerable” to the impacts of Russia’s threatened invasion of Ukraine, trade body Oil and Gas UK (OGUK) has warned.
What would war in Ukraine mean for Europe’s energy crisis?
How hard will energy-starved Europe be hit by a potential Russian invasion of Ukraine? It depends on how President Joe Biden reacts.
Researchers from Bristol Uni given unprecedented access to Chernobyl to deploy mapping equipment
A team of scientists from Bristol University have been given unprecedented access to the infamous Chernobyl Nuclear Power Plant.
Russia offers to ease Europe’s gas crisis, with strings attached
With winter fast approaching and a stunning energy price surge pummelling Europe, Russian President Vladimir Putin chose an opportune moment to use his country’s leverage as an oil and gas superpower.
Energy infrastructure: The Achilles’ heel of Ukraine’s energy transition
The upcoming energy transition will change approaches towards constructing power systems and their topology. Developing renewables is becoming increasingly critical as the transition away from big energy facilities based on using fossil fuels will lead to the redesign of our energy infrastructure, notably distribution grids.
Addressing the pricing methodology: Ukraine can’t afford to miss this chance
Ukraine’s energy sector is undergoing a deep period of uncertainty. The global pandemic is adding strain to an impaired sector, with issues concerning market operations that have remained unaddressed now reaching critical status due to the absence of concerted governmental and regulatory action.
UK needs a clear strategy before green hydrogen energy can take off
A clear green hydrogen energy strategy is necessary if energy companies are to commit to investing in UK green hydrogen projects.
Ukraine’s energy sector faces its moment of truth
Ukraine’s energy sector is undergoing one of the most profound crises in its history. It is no surprise therefore that solving this crisis is a priority for officials and industry. In doing so, they will have to take a fundamental decision; whether to pursue a pragmatic or a populist approach to policy and regulatory change.
Exxon wins US suit over $2m Ukraine-sanctions fine
Exxon Mobil Corp. won a lawsuit challenging a $2 million fine levied against it by U.S. Treasury Secretary Steven Mnuchin after the company allegedly violated Ukraine-related sanctions with a series oil and gas deals in Russia.
European gas prices fall as Ukraine, Russia deal averts crisis
European gas and power prices extended declines after a last-gasp accord between Russia and Ukraine on natural gas flows averted a winter supply crisis.
Russia and Ukraine reach agreement on gas transit to Europe
Russia and Ukraine have agreed to continue sending gas through Ukraine to Europe for five years.
Resuming electricity imports from Russia: A very risky business for Ukraine
Energy is particularly important to Ukraine. It is not simply a matter of ensuring consumers and businesses have the energy they need, at the right price. Or that the country is fulfilling its international obligations in transitioning towards a more sustainable, renewables based, energy system. Energy is also absolutely fundamental to our national security and the nature of our relationships with our neighbours.
US energy secretary Rick Perry to step down, Trump says
US energy secretary Rick Perry will leave his job by the end of the year, President Donald Trump has said.
Ukrainian MP buys into JKX Oil and Gas
London-listed oil firm JKX said today that a company incorporated in Grand Cayman and owned by a Ukrainian politician has bought 19.97% of the firm.
Naftogaz says London court froze Gazprom’s UK assets
Ukraine and Russia have clashed again, with Naftogaz serving Gazprom with an order to freeze assets in England and Wales.