Author: Charles Kennedy

TotalEnergies has emerged as the favorite to buy into a major oil discovery offshore Namibia and become a partner of Portugal’s Galp in its development, Bloomberg reported on Tuesday, citing anonymous sources with knowledge of the matter.   Galp, which…

TotalEnergies has emerged as the favorite to buy into a major oil discovery offshore Namibia and become a partner of Portugal’s Galp in its development, Bloomberg reported on Tuesday, citing anonymous sources with knowledge of the matter.   Galp, which…

The decline of India’s crude oil imports from Russia could be only temporary as Russia plans to boost supply and evade Western sanctions, the Kremlin spokesman Dmitry Peskov said on Tuesday as India prepares to welcome Vladimir Putin on an official vis…

Danish wind turbine manufacturer Vestas will expand its capacity in Poland in response to strong demand for turbines in Europe, Reuters has reported, adding the ramp-up will serve mainly the German wind turbine market. The ramp-up in capacity will invo…

A tanker carrying Russian gasoil was hit by multiple explosions off the coast of Senegal, marking the third case in recent days. The Mersin had made several calls at Russian ports this year before it met its fate on Monday. The vessel was later stabili…

At its Sunday meeting, OPEC+ reaffirmed its decision to keep oil production levels unchanged for the first quarter of 2026 and formally approved a long-debated process to reassess member production capacities for future quotas. The production decision …

Ukraine hit the Saratov refinery of Russian oil giant Rosneft in the Volga region on Friday, Ukraine’s General Staff said, in what was the second attack on the refinery in recent months as the Trump Administration continues with its efforts to broker a…

Ukraine hit the Saratov refinery of Russian oil giant Rosneft in the Volga region on Friday, Ukraine’s General Staff said, in what was the second attack on the refinery in recent months as the Trump Administration continues with its efforts to broker a…

Oil prices rebounded in early Asian trade on Monday following the latest OPEC+ meeting, as traders responded to the producer group’s decision to hold output steady through the first quarter of 2026. At the time of writing, West Texas Intermediate crude…

Oversupplied markets will keep oil prices under pressure next year, and the U.S. benchmark will average below $60 per barrel, the monthly Reuters poll of analysts and economists showed on Friday. The U.S. benchmark, WTI Crude, is expected to average $5…

Tankers of the Russian shadow fleet have increased the use of flying false flags this year and exported $5.4 billion (4.7 billion euros) worth of Russian oil between January and September, the Centre for Research on Energy and Clean Air (CREA) said in …

China is heading into winter expecting record power use again, and officials are already warning that both electricity load and daily gas demand are likely to set new highs. The NDRC says the heating season will run longer this year. That usually means…

Tankers of the Russian shadow fleet have increased the use of flying false flags this year and exported $5.4 billion (4.7 billion euros) worth of Russian oil between January and September, the Centre for Research on Energy and Clean Air (CREA) said in …

China’s independent refiners—the country’s infamous “teapots”— just got their first sip of 2026 crude import quotas. And the timing couldn’t be better for a physical market drowning in unsold sanctioned barrels. Trade sources say Beijing has handed out…

The Nigerian National Petroleum Company (NNPC) and its partner, Heirs Energies, have successfully doubled natural gas production at a key oil block, OML 17, as part of a broader strategy to boost domestic supply and ease the country’s electricity short…

India’s Serentica Renewables plans to invest up to $11 billion to boost its clean energy portfolio by the end of the decade via project acquisitions and new capacity build outs, chairman Pratik Agarwal has told Reuters. Serentica Renewables, backed by …

One of the U.S. hotspots for data center construction, Georgia, has recently seen growing community opposition to huge data centers as residents fear their utility bills will soar and their rural landscape will be ruined. While Georgia’s residents ackn…

Oil prices slipped in early Asian trade on Thursday as markets digested renewed hope for a Russia-Ukraine peace deal and braced for a key OPEC+ meeting scheduled to take place on Sunday.  At the time of writing, front-month West Texas Intermediate had …

Australia needs to accelerate efforts to reduce carbon dioxide emissions in order to hit its own targets, the country’s Climate Change Authority said today. Currently, Australia’s emissions are falling in line with plans, but these plans envisage a red…

The Serbian government is preparing an amendment to the country’s budget law that will allow it to nationalize the Naftna Industrija Srbije (NIS) refinery, majority owned by Russia’s Gazprom Neft and Gazprom, if no third party offers quickly emerge. La…

Lebanon and Cyprus have signed a maritime demarcation deal, paving the way for energy cooperation between the two countries, including exploration of offshore gas fields in the Mediterranean. The deal was signed at Lebanon’s presidential palace on Wedn…

China has launched a first-of-its-kind power generator that works with carbon dioxide instead of steam, like traditional generators in power plants. Perhaps more importantly, however, the new generator works with waste heat and boasts a much higher eff…

China has launched a first-of-its-kind power generator that works with carbon dioxide instead of steam, like traditional generators in power plants. Perhaps more importantly, however, the new generator works with waste heat and boasts a much higher eff…

Oil prices extended losses early on Tuesday after news broke that Ukraine has mostly agreed to a peace deal, with “minor details” to discuss and settle.  As of 8:35a.m. ET on Tuesday, the U.S. benchmark crude futures, WTI Crude, dropped by 1.29% to fur…

Some Indian banks have started to consider financing Russian oil trades that involve only non-sanctioned entities and sanctions-compliant pricing and payments, Bloomberg reported on Tuesday, citing sources with knowledge of the development.    India is…

Russian oil and gas revenues are poised to slump by 35% this month from a year earlier as the price of Russia’s crude has plunged and the local currency strengthened.  Russia’s budget is expected to receive $6.63 billion (520 Russian billion rubles) fr…

A political plot twist is unfolding in Florida as top Republicans—including Governor Ron DeSantis—came out against a Trump administration proposal that could reopen the eastern Gulf of Mexico to offshore oil and gas leasing. The opposition wasn’t about…

U.S. LNG developer NextDecade plans to expand further its Rio Grande export project with a sixth train, for which it has just initiated the pre-filing process with the Federal Energy Regulatory Commission (FERC).   NextDecade has already approved and i…

Supertanker rates on the route between the Middle East and China hit their highest in five years as traders sought alternatives to Russian crude, Bloomberg has reported, citing a daily rate of $137,000 for last Friday. Friday was when the latest U.S. s…

European benchmark natural gas prices slipped below the key threshold of 30 euros per megawatt-hour (MWh) on Monday, for the first time in a year and a half, amid strong LNG flows, milder temperatures, and negotiations about the end of the war in Ukrai…

China is launching a global cooperation initiative on green minerals with developing nations as it looks to consolidate its dominance in rare earth elements and other critical minerals.  At the G-20 summit in South Africa, Chinese Premier Li Qiang laun…

The Australian Fair Work Commission has given the go-ahead to industrial action at Woodside Energy’s Pluto LNG 2 project after trade unions failed to agree on higher wages with the company. Per the regulator’s decision, as cited by Reuters, the Offshor…

China is offering Germany collaboration in the field of what it calls new energy, along with other industries, including intelligent manufacturing, hydrogen, biomedicine, and “intelligent driving”, per Xinhua. The offer came from Chinese Premier Li Qia…

The European Union is considering buying direct stakes in critical minerals projects in Australia as a way to secure supply, Maros Sefcovic, European Commissioner for Trade and Economic Security, said on Friday.  Sefcovic, who is on a visit to Australi…

Saudi Arabia made investment commitments of as much as $1 trillion during the visit of Crown Prince Mohammed bin Salman in the United States. The sum is a substantial increase on an original pledge of $600 billion, but it is also a sign that the relati…

Exxon Mobil has finally lifted force majeure on the long-stalled Rovuma LNG project in northern Mozambique, clearing the first real procedural hurdle the $30-billion development has seen in years. The company halted activity back in 2021 after escalati…

Oil prices dropped again on Friday morning, bogged down by fresh news that Ukraine’s Zelenskyy agreed to work with Washington on a peace plan, a development that could ultimately add fresh barrels into an already fragile market. At the time of writing,…

A massive fire has erupted at a crude oil upgrader project in Venezuela after an explosion was heard near the distillation tower, workers on site and sources at state oil firm PDVSA told Reuters.  The Petrocedeno project in Venezuela’s Orinoco Belt, op…

A massive fire has erupted at a crude oil upgrader project in Venezuela after an explosion was heard near the distillation tower, workers on site and sources at state oil firm PDVSA told Reuters.  The Petrocedeno project in Venezuela’s Orinoco Belt, op…

The $5-billion East African Crude Oil Pipeline (EACOP), which is planned to export crude oil from Uganda via a port in Tanzania, is now 75% complete, moving landlocked Uganda a step closer to becoming an oil exporter.  EACOP, a controversial pipeline p…

Oil prices moved higher in early Asian trade on Thursday, with benchmarks partially recovering from a nearly 2% drop in the previous session. Markets are weighing a mix of demand softness and supply-risk developments, with the looming sanctions deadlin…

Technological advancements in the field of energy efficiency have accelerated this year, with global primary energy intensity on course to improve by 1.8% this year, the International Energy Agency reported today. Last year, global primary energy inten…

MP Materials shares surged on Wednesday after the company announced a joint venture with Saudi Arabia’s Ma’aden to build a rare-earths processing and magnet manufacturing hub in the kingdom, a move that positions the U.S. producer inside one of the wor…

The Pluto 2 LNG project, led by Woodside Energy, could face a delay in its completion if regulators allow workers at the site to go on strike. Unions applied for a strike license this week, with industrial action planned for the next couple of months. …

Oil prices plummeted in early trading on Wednesday as traders reacted to another rise in U.S. oil inventories, and signals continue to mount that global supply is running ahead of demand. At the time of writing, WTI was trading at $58.91 per barrel, do…

Bitcoin dropped below $90,000 on Monday for the first time since April, touching an intraday low of $89,426 before closing near $91,200. The decline marked a more-than 20% retreat from the cryptocurrency’s October peak above $126,000 and has erased all…

Chinese scientists have built and tested a floating droplet electricity generator (DEG) to turn the kinetic energy of raindrops into renewable power. Unlike conventional DEGs, which are used on land and are heavier and costlier, the floating device dev…

Rosneft’s oil refinery at Ryazan, Russia’s fourth-largest, has suspended crude processing after a Ukrainian drone attack this weekend, industry sources told Reuters on Tuesday.   The Ryazan refinery, which has been targeted – and hit – by drone strikes…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a large build of 4.4 million barrels in the week ending November 14. Crude oil inventories gained 1.3 million barrels in the week prior. Crude oil inve…

Russian Novatek, the owner and operator of Arctic LNG and Arctic LNG 2, is offering steep discounts to Chinese buyers of energy commodities to move its gas, Reuters has reported, citing unnamed sources. According to these sources, the Russian company h…

China’s imports of oil from Russia and Iran are set to drop this month as importers and refiners are more careful and still devise workarounds after the U.S. stepped up sanctions on Russia’s oil exporters and on China’s terminals that are key import hu…

The European Center for Constitutional and Human Rights (ECCHR) said on Tuesday it had filed a criminal complaint in France against TotalEnergies for complicity in war crimes, torture, and enforced disappearance at the Mozambique LNG site in 2021.    A…

Global lithium prices surged on Monday after a demand upgrade from China led traders to revisit near-term supply assumptions across the battery-materials market. The move followed an update highlighted by the Financial Post, which reported renewed buyi…

India’s Reliance Industries, the top private refiner in the country, has bought 1 million barrels of crude from Kuwait, trade sources told Reuters on Tuesday, as most Indian refiners halt purchases from Russia after the U.S. sanctions on the top Russia…

LNG carrier rates for the Atlantic route between the U.S. and Europe have surged close to a two-year high on strong demand for American liquefied gas as Europe fills up its storage ahead of winter. The spot rate hit $98,250 per day on Monday, Bloomberg…

The international companies part of the deal to restart Kurdistan’s oil exports have seen the lifting of the first cargo from the semi-autonomous Iraqi region for export from the Turkish terminal of Ceyhan since pipeline exports to the Mediterranean po…

The international companies part of the deal to restart Kurdistan’s oil exports have seen the lifting of the first cargo from the semi-autonomous Iraqi region for export from the Turkish terminal of Ceyhan since pipeline exports to the Mediterranean po…

Global lithium prices surged on Monday after a demand upgrade from China led traders to revisit near-term supply assumptions across the battery-materials market. The move followed an update highlighted by the Financial Post, which reported renewed buyi…

Oil prices moved lower in early Asian trading on Monday, erasing the modest gains posted last week, as crude loadings resumed at the key Russian export hub of Novorossiysk following a two-day suspension of operations at the Black Sea port. At the time …

The European Commission has approved with conditions the $17-billion acquisition by Abu Dhabi National Oil Company (ADNOC) of Germany’s chemicals giant Covestro, the EU’s executive arm said on Friday, following an investigation into foreign subsidies i…

China and India are buying more crude oil, providing some respite for producers facing expectations of oversupply, Bloomberg reported today, citing unnamed trading sources. The two large importers have been buying mostly Middle Eastern cargos, the Bloo…

Germany’s ruling coalition has slashed in half the capacity of new natural gas-fired power plants it aims to tender by 2032 in a significant scale-down from the previously planned 20 GW of new gas capacity. The governing coalition led by conservative C…

ConocoPhillips has made a natural gas discovery in the Otway Basin off the Australian coast, the company said today, adding that the reserves tapped and their commercial viability have yet to be estimated. “The Essington-1 well is the first discovery i…

OPEC+ will probably continue with its production ramp-up next year regardless of where prices are going, according to traders who believe the expected oversupply in crude will not be large enough to discourage OPEC+ from boosting output. Bloomberg surv…

Germany’s ruling coalition has slashed in half the capacity of new natural gas-fired power plants it aims to tender by 2032 in a significant scale-down from the previously planned 20 GW of new gas capacity. The governing coalition led by conservative C…

Rodrigo Paz, the centrist senator who won the presidential election in Bolivia last month, was sworn in this weekend and immediately set to work to undo the policies of 20 years of nearly-uninterrupted socialist rule. In the first round of the presiden…

Nearly a third of Russia’s current seaborne oil export potential is now stuck in tankers as the U.S. sanctions upend crude flows and Russia’s top buyers, China and India, are still struggling to assess the implications of the sanctions, according to JP…

Nearly a third of Russia’s current seaborne oil export potential is now stuck in tankers as the U.S. sanctions upend crude flows and Russia’s top buyers, China and India, are still struggling to assess the implications of the sanctions, according to JP…

Oil prices jumped in early Asian trade on Friday morning as markets responded to renewed Ukrainian attacks on Russia’s energy infrastructure. A Ukrainian drone attack on the Russian Black Sea port of Novorossiysk, one of the country’s most significant …

Germany has agreed to subsidize electricity for its heavy industries, capping prices at about €0.05 per kilowatt-hour from 2026 through 2028—a major policy move aimed at keeping its industrial base from eroding under the weight of Europe’s soaring ener…

Nigeria is abandoning plans to impose a 15% duty on imported refined petroleum products, which is a blow to its new private domestic refinery of billionaire Aliko Dangote.  “The implementation of the 15 per cent ad-valorem import duty on imported Premi…

Oil prices jumped in early Asian trade on Friday morning as markets responded to renewed Ukrainian attacks on Russia’s energy infrastructure. A Ukrainian drone attack on the Russian Black Sea port of Novorossiysk, one of the country’s most significant …

Oil prices jumped in early Asian trade on Friday morning as markets responded to renewed Ukrainian attacks on Russia’s energy infrastructure. A Ukrainian drone attack on the Russian Black Sea port of Novorossiysk, one of the country’s most significant …

Carlyle is in talks with Lukoil for the potential acquisition of the latter’s international operations, Reuters has reported, citing unnamed sources. The news follows Gunvor’s attempt to buy the assets, only to change its mind after the Trump administr…

Australia’s Liberal Party, the conservative opposition party, is abandoning the net-zero by 2050 target and will remove it from the country’s Climate Change Act if elected, the party leaders announced on Thursday. The Liberal Party, which was crushed b…

Oil prices fell sharply on Wednesday after OPEC said it now expects the global market to be balanced in 2026, abandoning its earlier deficit forecast as non-OPEC production rises and inventories recover. The revision, detailed in the group’s Monthly Oi…

Hungarian oil company MOL is close to buying an 11.3% stake in Serbia’s only refinery from its Russian owners, Serbian news outlet NIN reported on Thursday, citing sources familiar with the plans.  The Russians trust the Hungarian company, and Hungary’…

Energy operators offshore Norway expect to invest $24.8 billion (249 billion Norwegian crowns) in oil and gas activities next year, Statistics Norway’s latest quarterly survey showed on Thursday.   The estimate is $1.9 billion higher compared to the pr…

The Indian government has announced a new royalty payment scheme for a list of critical minerals in a bid to motivate miners to ramp up local production. Under the new scheme, miners of graphite would pay royalties as a percentage of the sales price of…

Russian President Vladimir Putin and Kazakh President Kassym-Jomart Tokayev are meeting in Moscow this week to discuss gas cooperation and the impact of U.S. sanctions on Russian oil majors with operations in Kazakhstan. The talks come as the Kremlin f…

China is encouraging private investment in state-led major energy and infrastructure projects and could allow private investors to have more than 10% in certain projects, the government said in a landmark directive aimed at boosting investment and rein…

Global sales of electric and hybrid cars went up by 23% on the year in October, Rho Motion has calculated, to a total of 1.9 million cars. The number, however, was a slight decline in total sales figures for September, which hit an all-time high of 2.1…

Nigeria will open its 2025 oil licensing round on December 1, as the Upstream Petroleum Regulatory Commission (NUPRC) steps deeper into the role once dominated by the state oil company. The move signals President Bola Tinubu’s intent to boost output, c…

The Trump administration has released full financial terms for its first “Big Beautiful Gulf” offshore oil and gas auction, setting a 12.5% royalty rate and offering nearly 80 million acres across the Gulf of Mexico, according to a new release from the…

Current conditions in the stock market have encouraged a significant increase in the number of individuals who actively trade in stock accounts. The major stock indices are at or near all-time highs following a long period of sustained rises, but, more…

Nigeria could tap 1.7 billion barrels in new oil supply as well as 7.7 trillion cu ft of natural gas after the approval of 43 field development plans this year. The figures were reported by the chief executive of the Nigerian Upstream Petroleum Regulat…

Russian crude oil deliveries to Asia via the Northern Sea Route have failed to increase as expected during the 2025 season, falling by 4.2% from 2024 levels. According to figures reported by Kommersant daily, Russian oil exporters shipped 1.83 million …

In early Asian trade on Monday, crude oil prices were climbing after the United States Senate passed a funding agreement that could end the federal government shutdown. At the time of writing, WTI had climbed to $60.20 while Brent was trading at $64.05…

Electricity generation from non-hydrocarbon sources in India is moving closer to 33% of the total, the country’s Central Electricity Authority reported, as cited by the Times of India. Over the period between April and September, power output from hydr…

A Ukrainian drone strike has knocked the Lukoil-operated Volgograd refinery offline, halting one of Russia’s largest fuel processing hubs as Ukraine continues with its campaign to take advantage of Moscow’s downstream vulnerability to long-range attack…

Suspected pirates boarded an oil tanker in the Indian Ocean off Somalia’s coast on Thursday as maritime security agencies flag renewed Somali pirate activity in the region. The Hellas Aphrodite oil tanker was illegally boarded on Thursday morning local…

Canadian Natural Resources (TSX: CNQ / NYSE: CNQ) eked out a narrow earnings beat for the third quarter, with record oil and gas output helping offset weaker crude prices and a hefty North Sea write-down. The Calgary-based producer reported adjusted ea…

Suspected pirates boarded an oil tanker in the Indian Ocean off Somalia’s coast on Thursday as maritime security agencies flag renewed Somali pirate activity in the region. The Hellas Aphrodite oil tanker was illegally boarded on Thursday morning local…

India’s Reliance Industries, the top private refiner in the country, is looking to sell some UAE and Iraqi crude in a rare spot market offer, trade sources told Bloomberg on Thursday. Reliance has been a major buyer of crude from the Middle East and Ru…

Australia generated more electricity from sources including wind and solar than it did from coal and natural gas power plants last month, Ember has reported, as cited by Reuters. This is the first time non-hydrocarbon generation exceeded hydrocarbons, …

ExxonMobil is expanding its exploration portfolio offshore Greece with a new farm-in agreement for a block in the northwestern Ionian Sea.    ExxonMobil, Energean, and Helleniq Energy have reached a farm-in agreement under which the U.S. supermajor wil…

PetroChina plans to phase out production at 19 old and inefficient units across its refining and petrochemicals facilities as China looks to trim overcapacity that has weighed on the downstream sector.  PetroChina, the second-largest refiner in the cou…

Nigeria has lost $300 billion to oil theft, auditors appointed by the Nigerian parliament said this week. The oil was sold illegally both at home and abroad, the Senate committee tasked with investigating oil theft losses said, as cited by Nigerian med…

Financing and deals with oil and gas companies will have a materially lower share in the energy portfolio of HSBC as new energy opportunities arise, the banking giant’s chief sustainability officer, Julian Wentzel, told Bloomberg in an interview on Thu…

India’s state-run Oil and Natural Gas Corporation (ONGC) has said it is prepared to restart upstream operations in Syria once “normalcy” returns, according to The National. Executives from ONGC Videsh Ltd, the company’s overseas arm, confirmed they are…

Global oil demand will continue to grow in the coming decades and remain above 100 million barrels per day (bpd) in 2040 and beyond, ADNOC’s Upstream CEO Musabbeh Al Kaabi told Bloomberg on Wednesday.  Aviation, petrochemicals, and industries including…

The U.S. sanctions on Russia and Iran have led to an “unprecedented” large volume of crude oil stored in tankers, Torbjörn Törnqvist, co-founder of commodity trading giant Gunvor Group, said on Wednesday.  “This is unprecedented, the size of that. Ther…

BP (NYSE: BP) on Tuesday reported stronger-than-expected earnings for the third quarter as higher output, field start-ups, and improved refining margins offset weaker oil prices and trading result.  BP booked an underlying replacement cost profit – the…

Ukraine’s defence agencies are claiming that their campaign of strikes on Russian oil infrastructure, combined with Western sanctions, are indirectly benefiting major Western oil companies. According to The Kyiv Independent, Ukraine’s military and ener…

Ukraine’s defence agencies are claiming that their campaign of strikes on Russian oil infrastructure, combined with Western sanctions, are indirectly benefiting major Western oil companies. According to The Kyiv Independent, Ukraine’s military and ener…

Tepid demand from China and lower purchases from price-sensitive buyers such as India dragged down Asia’s LNG imports in October from a year earlier, while Europe’s buying remains solid as the EU races to fill gas storage sites ahead of the winter.    …

The giant Upper Zakum oilfield in the UAE could achieve its 2030 target to boost production capacity to 1.5 million barrels per day (bpd) from 1 million bpd earlier than planned, the CEO of co-venturer ExxonMobil said.  “The team is working hard to dri…

Oil prices rose modestly in early Asian trading on Monday after OPEC+ opted for a limited production increase in December and delayed further hikes in the first quarter of 2026, signalling caution amid demand uncertainty. At the time of writing, Brent …

The advance in AI and the surge in data center build-out have pushed global energy investment needs to $4 trillion annually, Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC chief executive, said on Monday.  Large oil produce…

U.S.-Venezuela tensions are again rippling through energy and security markets, prompting President Donald Trump to rule out immediate military strikes while maintaining a buildup of American naval assets in the Caribbean.  His comments followed report…

Power generation in India plunged by 6% in October from a year earlier – the sharpest drop since the Covid lockdowns in 2020 – as lower industrial demand due to holidays and unusually rainy weather dampened consumption, according to a Reuters analysis …

Bharat Petroleum, one of the largest refiners in India, has bought a cargo of Emirati Upper Zakum crude, as it seeks alternatives to Russian oil, Reuters has reported, citing unnamed sources. The cargo is 2 million barrels, to be delivered next month. …

Hungary’s Prime Minister Viktor Orban will seek to persuade U.S. President Donald Trump to carve out an exemption for Hungary in the U.S. sanctions against Russia’s top oil firms.  “We have to make the Americans understand this strange situation if we …

Morgan Stanley raised its price forecast for Brent crude for 2026 to $60 per barrel from $57.50 following OPEC+’s decision to pause production hikes over the first three months of next year. This was the first oil price forecast revision after the Sund…

Russian crude has accounted for a very small portion of supply for Indian state-run refiner Hindustan Petroleum Corporation Limited (HPCL) as oil from Russia has not been economical to run at the refinery, HPCL chairman Vikas Kaushal said on the compan…

India’s biggest state-held refiner, Indian Oil Corporation (IOC), has acquired five December-arriving cargoes of Russian crude from non-sanctioned entities, trade sources told Reuters as India scrambles to replace sanctioned Rosneft and Lukoil deliveri…

A barrage of Russian missile and drone strikes on Ukraine’s energy infrastructure left three people dead on Wednesday, forcing nationwide power restrictions. Ukrainian officials reported that two men in the city of Zaporizhzhia were killed in the overn…

The U.S. Army Corps of Engineers has approved a controversial proposal by Canadian oil and gas giant Enbridge (NYSE:ENB), to reroute an aging oil pipeline around a Wisconsin tribal reservation, saying the project “complied with all applicable federal l…

Weak factory activity in China, a stronger U.S. dollar, and reports that OPEC+ is going to add more barrels to production in December have combined to push oil prices lower, setting them on a course to their third monthly decline in a row. At the time …

Kazakhstan’s government has reopened talks with ExxonMobil about expanding the Kashagan oil field—the massive Caspian Sea development once hailed as the world’s biggest oil discovery in 30 years. The discussions reportedly include tapping undeveloped w…

MEG Energy has delayed a shareholder vote on the proposed takeover of the company by sector player Cenovus, after a regulatory inquiry prompted the target company to provide additional information. Media quoting the chairman of MEG Energy’s board repor…

CNOOC Ltd, China’s top offshore crude oil and gas producer, on Thursday said its net profit fell by 12.2% from a year earlier in the third quarter, amid a decline in oil prices.  CNOOC, which specializes in offshore oil and gas developments in China an…

There’s an exciting new development in the global race to discover next-gen battery tech. Iron-air batteries are finally ready to be tested in real-world applications, with major disruptive potential for the energy storage sector. These batteries use r…

Trump, after the summit aboard Air Force One, claimed to have reached a one-year deal in Busan.
Oil prices dipped slightly as markets reacted cautiously, awaiting more details on the deal’s enforcement.
Trump said Taiwan was not discussed, but noted p…

Asian energy importers are curbing their appetite for thermal coal as prices rebound after falling to the lowest in four years earlier in 2025. Reuters’ Clyde Russell reported today that October coal arrivals in China, India, Japan, and South Korea wer…

Exxon has canceled a public appearance by several executives scheduled for today, at which they were supposed to reaffirm the company’s commitment to the Rovuma LNG project, currently frozen, in the company of Mozambique’s president, Daniel Chapo. The …

TotalEnergies (NYSE: TTE) reported third-quarter earnings essentially flat from a year earlier, as higher production, strong cash flows, and surging refining margins offset a 10% decline in oil prices.  TotalEnergies said on Thursday that its adjusted …

U.S. nuclear generation is projected to rise by 27% between 2035 and 2060, according to new analysis from Wood Mackenzie, as the rapid build-out of artificial-intelligence and cloud-computing infrastructure reshapes national electricity demand. The fin…

The United States has issued a general license allowing limited operations of Rosneft’s German subsidiaries, according to a notice posted on the company’s website and confirmed by Reuters. The authorization applies to Rosneft Deutschland and RN Refinin…

The United States has issued a general license allowing limited operations of Rosneft’s German subsidiaries, according to a notice posted on the company’s website and confirmed by Reuters. The authorization applies to Rosneft Deutschland and RN Refinin…

Japan’s newly elected Prime Minister, Sanae Takaichi, told U.S. President Donald Trump at their meeting in Tokyo earlier this week that Japan would find it difficult to ban LNG imports from Russia, Japanese government officials told Reuters on Wednesda…

The European Union needs to step up efforts to provide supply of critical minerals in the face of Chinese export curbs, the European Initiative for Energy Security has said, calling for more funding to be secured for these efforts. “As China and the US…

Equinor (NYSE: EQNR) booked lower-than-expected earnings for the third quarter as liquids prices dropped from a year earlier. The Norwegian energy major on Wednesday reported an adjusted operating income of $6.21 billion for the third quarter of 2025, …

An Aframax tanker carrying Russian crude to India has reversed course soon after leaving the Russian coast and is currently idling in the Baltic Sea, Kpler has reported, as cited by Bloomberg. The crude on board comes from Rosneft, which the U.S. sanct…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a large dip of 4 million barrels in the week ending October 24, when analysts had expected oil inventories to contract by a  smaller 2.9 million barrel…

Venezuela has formally requested detailed information from neighbouring Trinidad and Tobago regarding first field-tests planned by Exxon Mobil in a newly awarded ultra-deep water exploration block close to the two countries’ maritime border, three sepa…

Argentina’s energy market has entered a sharp re-rating phase as YPF S.A. (NYSE: YPF) extended its rally nearly 40% over the past five days, driven by foreign investment interest and renewed political stability.  The surge follows reports that XRG, the…

Oil India Limited (OIL), the state-owned oil and gas explorer, has $300 million in dividends from its stakes in Russian oilfields stuck at Russian banks and unable to withdraw, due to last week’s U.S. sanctions that hit the Rosneft-operated fields.   T…

The tariff offensive that President Trump is leading against trade partners across the world will deal a blow to the oil and gas industry next year, according to a report by Deloitte. The consultancy, as quoted by Reuters, noted that the oil and gas in…

Oil India Limited (OIL), the state-owned oil and gas explorer, has $300 million in dividends from its stakes in Russian oilfields stuck at Russian banks and unable to withdraw, due to last week’s U.S. sanctions that hit the Rosneft-operated fields.   T…

Iraq signed on Tuesday a contract with U.S. company Excelerate Energy for the country’s first floating gas platform, the office of the Iraqi Prime Minister said, as OPEC’s second-largest oil producer aims to strengthen its gas supply and energy securit…

Singapore’s Equator Renewables Asia and the clean energy unit of China National Nuclear Corporation on Tuesday signed a joint venture agreement to develop a solar project in Indonesia, with part of the electricity generation set for exports to Singapor…

Europe is set to import the highest monthly volumes of diesel and jet fuel in October as the EU moved to close a loophole in the sanctions against Russia and the U.S. sanctions on Russia’s top oil producers and refiners roiled the petroleum product mar…

China has stocked up enough gas and coal for peak electricity demand season this winter, the local power utility association has reported. An expected abundance in wind and solar generation should help secure electricity supply as well, Bloomberg noted…

China has increased its underground gas storage capacity by the most of any country since 2022, the International Gas Union (IGU) said in a new report on Monday. As of 2025, there are 699 underground natural gas storage facilities in operation worldwid…

Next month’s global climate summit could debate and potentially adopt targets for sustainable biofuel production and use, Francesco La Camera, Director-General at the International Renewable Energy Agency (IRENA), said on Monday. The COP30 climate summ…

Iraq is in discussions with OPEC to review its oil production quota as output capacity rises, Hayan Abdul Ghani, the Oil Minister of OPEC’s second largest producer, said on Monday.   Iraq is in talks with OPEC to reassess its production quota within th…

A “wave” of new liquefied natural gas production capacity set to come on stream this year and in 2026 will transform the global market into one dictated by buyers, the head of the International Energy Agency, Fatih Birol, said today. New LNG production…

The UK Government should avoid accelerating the decline of North Sea oil and gas production through policies, as job losses amid the decline in Scotland’s oil and gas industry currently exceed jobs created by clean energy, the UK Parliament’s Scottish …

Strong demand for LNG-related services drove Baker Hughes’ third-quarter financial performance above expectations, with the company reporting a 23% annual increase in orders despite a dip in net profits of 20% on the year. Free cash flow rose as well, …

The latest round of U.S. sanctions targeting two of Russia’s largest oil exporters has pushed crude oil prices higher, with benchmarks on course to end the week with a gain after a string of losses. At the time of writing, Brent crude was trading at $6…

The EU on Thursday adopted the 19th sanctions package against Russia, which includes a ban on imports of Russian LNG from 2027, sanctions on additional shadow fleet vessels and on entities in China and Hong Kong supporting Russia’s energy trade and rev…

International oil majors have canceled spot cargo sales of Middle Eastern and Canadian crude to Shandong Yulong Petrochemical after the Chinese refiner was sanctioned by the UK last week, Reuters reported on Thursday, quoting sources with knowledge of …

Halliburton Company (NYSE: HAL) saw its third-quarter earnings top Wall Street expectations on steady drilling and stimulation demand in North America. Halliburton, the oilfield services giant with the highest exposure to the U.S. fracking market, on T…

Halliburton Company (NYSE: HAL) saw its third-quarter earnings top Wall Street expectations on steady drilling and stimulation demand in North America. Halliburton, the oilfield services giant with the highest exposure to the U.S. fracking market, on T…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 2.980 million barrels in the week ending October 17, when analysts had expected a sizable build. This more than offsets last week’s 2.780 million b…

Kazakhstan’s Karachaganak field producing oil and gas condensate has curbed production after what it referred to as “an incident” at a gas processing plant in Russia, which was hit by a Ukrainian drone on Monday. The Karachaganak Venture operating the …

Reliance Industries, the top private refiner in India, has accelerated crude oil purchases from the Middle East, traders told Bloomberg on Tuesday, as the fate of Russian barrels going to India remains unclear.  Reliance, which typically buys crude fro…

Spanish gas demand for electricity production jumped by nearly 37% between January and September, as Spain relied on more gas-fired power generation to keep the grid stable after Europe’s worst blackout in modern history.  In late April, the worst blac…

Venture Global is ready to start feeding natural gas into its second LNG plant, Plaquemines, which is one of the last steps towards full-scale production. In a filing, the company said it was ready to start pumping gas to the last block at Plaquemines …

BHP expects resilient commodity demand going forward despite slowing growth in China in the second half of this year, the world’s biggest miner by market value said in a quarterly operational review on Tuesday.  During the quarter ended September 30, B…

A salvage operation is underway after the liquefied petroleum gas (LPG) tanker MV Falcon exploded and caught fire off Yemen’s coast, renewing concern over energy-shipping security in the Red Sea corridor, Reuters reported on Monday.  The Cameroon-flagg…

A salvage operation is underway after the liquefied petroleum gas (LPG) tanker MV Falcon exploded and caught fire off Yemen’s coast, renewing concern over energy-shipping security in the Red Sea corridor, Reuters reported on Monday.  The Cameroon-flagg…

The proponents of the $44-billion Alaska LNG are expected to complete by the end of the year the crucial engineering and cost study for an 800-mile-long pipeline set to service the export project, U.S. Secretary of the Interior Doug Burgum has said. “T…

Japan will base any decisions about energy imports on its national interests, the country’s trade minister Yoji Muto has said, following suggestions from the Trump administration that Japan suspends all purchases of Russian oil and gas. “Since the inva…

A Ukrainian drone attack that halted gas processing at Russia’s Orenburg complex has underlined how deeply Kazakhstan’s energy system remains tied to Russian infrastructure. The strike, confirmed by Reuters, forced Gazprom to suspend intake from Kazakh…

Oil prices continued to inch lower in early Tuesday trading as concerns about oversupply and sagging demand resumed their grip on the market, even as trade-talks between the United States and China offered a glimmer of optimism. At the time of writing,…

A Ukrainian drone attack that halted gas processing at Russia’s Orenburg complex has underlined how deeply Kazakhstan’s energy system remains tied to Russian infrastructure. The strike, confirmed by Reuters, forced Gazprom to suspend intake from Kazakh…

Crude oil exports from Iraq’s semi-autonomous region of Kurdistan have reached 205,000 barrels per day (bpd), but the oil flows via a pipeline to the Turkish point of Ceyhan could be under threat again. Oil exports from Iraq’s northern region of Kurdis…

Venezuela is betting on coal to jumpstart its resource economy and exports amid increasing sanctions on its oil industry with few exemptions in the form of waivers.  At the end of 2024, a Venezuelan-Turkish joint venture restarted coal production at tw…

Venezuela is betting on coal to jumpstart its resource economy and exports amid increasing sanctions on its oil industry with few exemptions in the form of waivers.  At the end of 2024, a Venezuelan-Turkish joint venture restarted coal production at tw…

Local residents and anti-nuclear activists in Japan oppose the restart of one of the world’s biggest nuclear power plants and its operator’s plan to invest money in revitalizing the regional economy. Tokyo Electric Power Company (TEPCO), which also ope…

Power generation from coal and gas in China declined by 5.4% on higher hydropower output, official data showed today, as cited by Reuters. Thermal power plant output fell to 517.5 billion kWh last month, from 627.4 billion kWh in August. The August out…

Governments and policy makers need to pay more attention to hydropower as a major source of low-emission flexible power generation in the age of booming electricity demand, Fatih Birol, the executive director of the International Energy Agency (IEA), s…

The biggest refinery in the Midwest, BP’s Whiting facility, had multiple units offline on Friday, market sources told Reuters, quoting data from energy consultancy Wood Mackenzie.  The refinery was also actively flaring early on Friday, according to on…

India hasn’t requested refiners to cut imports of Russian crude oil and no cuts have been seen for the already placed nominations for loadings in November, Indian industry sources told Reuters on Friday, after the U.S. claimed refiners had stared to re…

U.S. LNG developer NextDecade Corporation has decided to invest $6.7 billion in the expansion of its Rio Grande LNG facility in Texas in another boost to America’s LNG export capacity in the coming years.  NextDecade has just announced a positive final…

Two Indian refiners have bought cargoes totaling 4 million barrels of Guyanese crude, Reuters has reported, citing unnamed trade sources who also said the oil will be delivered by the end of this year or the start of 2026. Each of the refiners—Indian O…

Despite this week’s UK sanctions on the only Chinese terminal importing LNG from Russia’s Arctic LNG 2 project, a new cargo arrived in China from the Russian plant that is under sanctions from the United States and other Western countries.  The Arctic …

India’s energy regulator has opened an internal investigation after the Securities and Exchange Board of India (SEBI) accused several officials of insider trading related to power market reforms. The Central Electricity Regulatory Commission (CERC) con…

The oil industry must step up exploration and investment in new supply; otherwise, the world risks a supply shortage, according to Amin Nasser, the chief executive of the Saudi state oil giant Aramco. “We had a decade . . . where people didn’t explore….

In a move to help the chances of a trade deal with the United States, India intends to raise imports of U.S. liquefied petroleum gas (LPG) and reduce such purchases from the Middle East, anonymous sources familiar with the plans told Reuters on Thursda…

India is prioritizing the interest of its consumers in its policies to source energy products, the Indian Foreign Ministry said on Thursday, after U.S. President Donald Trump said on Wednesday that India had agreed to cut imports of Russian crude oil. …

Australia’s oil and gas giant Santos on Thursday lowered its production guidance for 2025 as a result of a software issue impacting the ramp-up of the new Barossa LNG project and floods in the Cooper basin that affected output.    In its third-quarter …

A judge in Montana has dismissed a lawsuit brought by a youth organization and targeting the Trump presidency for pivoting away from decarbonization to more hydrocarbon production. Per an AP report, Judge Dana Christensen said the plaintiffs, led by NG…

A new report issued on Tuesday by the International Renewable Energy Agency (IRENA), in collaboration with the COP30 Brazilian Presidency and the Global Renewables Alliance (GRA), claims that the world is moving too slowly on renewable energy and effic…

Oil may be having a rough week, but Occidental Petroleum’s Vicki Hollub isn’t panicking. The CEO told the Energy Intelligence Forum in London that crude prices are likely to hover in a narrow $58–$62 range through 2026, before breaking higher later in …

Shell and its partner Sunlink Energies and Resources Limited have taken a final investment decision on the HI gas project offshore Nigeria, which will supply additional gas volumes to Nigeria LNG, the supermajor said on Tuesday.   The HI project, expec…

Australia-based companies with plans to advance rare earths projects in the United States saw their stocks soar on Tuesday as the Trump Administration continues to seek small equity stakes in critical minerals projects on American soil.     Australia-b…

Russian Novatek is loading a new LNG cargo from its Arctic LNG 2, a heavily sanctioned facility that was only completed recently, while under sanctions. This is the tenth cargo of liquefied gas since June, Bloomberg reported. Arctic LNG 2 began liquefy…

Oil prices stabilized slightly in Asian trade on Tuesday, recouping some losses from the prior week as hopes of a diplomatic thaw between Washington and Beijing helped to cool bearish sentiment. While structural headwinds persist in the form of rising …

The energy transition has failed to live up to its promise, and now the pendulum is swinging back to traditional energy, according to a statement by the chief executive of Saudi Aramco, quoted by Zawya. Speaking at the Energy Intelligence Forum in the …

India’s Oil and Natural Gas Corporation expects crude oil prices to remain range-bound between $60 and $65 per barrel “in the current scenario”, with company executives saying they were working to make operations profitable even at these price levels. …

Shares of the top Chinese solar manufacturers surged in Shanghai on Tuesday, following a state media report that China’s authorities plan stricter controls on the bloated manufacturing capacity that has created price wars and massive losses for compani…

The members of the OPEC+ group boosted their production in September by 630,000 barrels per day (bpd) from August as the alliance last month completed the unwinding of 2.2 million bpd cuts that began in April this year. Total OPEC+ crude oil production…

Chinese coal imports surged in September to the highest level in nine months and the highest for 2025 amid falling output and rising prices within China, official data showed on Monday.   The world’s top coal consumer, China, imported 46 million tons o…

Crude oil imports into China last month went up by 3.9% on September 2024, flowing at an average daily rate of some 11.5 million barrels, Reuters calculated, citing official customs data from Beijing. The rise in crude imports was accompanied by an inc…

The administration of Venezuelan leader Nicolás Maduro has offered to open up Venezuela’s oil and gold projects to U.S. companies in an attempt to appease the Trump Administration and avoid conflict, the New York Times reported on Friday, quoting multi…

The administration of Venezuelan leader Nicolás Maduro has offered to open up Venezuela’s oil and gold projects to U.S. companies in an attempt to appease the Trump Administration and avoid conflict, the New York Times reported on Friday, quoting multi…

Oil prices rebounded in early Asian trading on Monday, recovering from sharp losses in the previous session as investors grew cautiously optimistic that potential talks between President Trump and President Xi could ease tensions between the world’s tw…

Nayara Energy, operator of India’s second-largest refinery, has ramped up its oil deliveries by train as export markets shrink. Per a Reuters report, the refiner, which is 49% owned by Russia’s Rosneft, has been loading between two and three trains of …

Serbia’s oil system came under immediate strain Thursday after Washington let a sanctions waiver for Naftna Industrija Srbije (NIS) lapse, exposing the Gazprom Neft-linked refiner to U.S. measures and putting crude flows via Croatia’s JANAF pipeline on…

Crude oil prices are on course for another weekly decline following the news of a ceasefire between the Israeli government and Hamas, which was ratified today by Tel Aviv. At the time of writing, Brent crude was trading at $64.90 per barrel, with West …

BP has won an arbitration case it brought against Venture Global, alleging that the LNG exporter had violated its long-term supply contract with the supermajor in order to make bigger profits on the spot market. The development delivers a blow to Ventu…

The International Atomic Energy Agency (IAEA) has initiated a process to help restore external electricity to Ukraine’s Zaporizhzhya Nuclear Power Plant (ZNPP), following weeks of diplomatic engagement with both Ukraine and Russia after the facility ag…

Serbia’s oil system came under immediate strain Thursday after Washington let a sanctions waiver for Naftna Industrija Srbije (NIS) lapse, exposing the Gazprom Neft-linked refiner to U.S. measures and putting crude flows via Croatia’s JANAF pipeline on…

BP has started up the Murlach oil and gas field in the UK North Sea, the sixth major project the supermajor has launched so far this year, as part of its goal to have ten new oil and gas fields operational by 2027.  Murlach adds a peak net production o…

Russia and Iran this week discussed boosting their cooperation in nuclear energy, including in building small nuclear reactors (SMRs) in the Islamic Republic, Iranian media report.  Mohammad Eslami, director of the Atomic Energy Organization of Iran (A…

Last week’s massive Russian attacks on energy infrastructure in the Poltava and Kharkiv regions in Ukraine have forced the shutdown of about 60% of the Ukrainian natural gas production, sources familiar with Ukraine’s talks with its allies told Bloombe…

Oil market players are in a bearish mood, Citi has said in an update about sentiment among its clients. However, the degree of bearishness differs, the bank also said, as quoted by Bloomberg. “Some clients doubt that a price floor at $60 a barrel for B…

There will be enough natural gas for the UK during the winter season, the country’s National Energy System Operator said in a report ahead of peak energy demand season. National Gas, the UK’s top supplier of the energy commodity, also sees no cause for…

The United States is on track to break yet another oil production record this year, but the Energy Information Administration (EIA) says the resulting supply glut could drag prices lower in the months ahead. In its October outlook, the EIA raised its f…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States increased by 2.780 million barrels in the week ending October 3. Analysts had forecast a 2.25 million build for the week. Today’s figures come after three …

Commonwealth LNG, a project proposed for Louisiana and originally supposed to be up and running by 2027, will take until 2031 to complete, the company behind it has warned in a request for an extension to its deadline. The company blamed the temporary …

Growth in U.S. renewable capacity additions will be 45% lower than previously expected, due to the Trump Administration’s raid on clean energy incentives and permitting, according to the International Energy Agency (IEA).  In its annual Renewables 2025…

Ukraine has discussed with G7 countries additional natural gas imports as it seeks to boost imports by 30% to offset the damage from Russian strikes on its gas infrastructure, Ukrainian Energy Minister Svitlana Grynchuk said on Tuesday.  In recent week…

Strong gas trading, higher upstream production and liquefaction volumes, and increased refining margins are expected to boost Shell’s third-quarter earnings, the supermajor said in a trading update on Tuesday.   Shell said in its third quarter 2025 upd…

In a new operational blow to Russia’s refining capacity, the Kirishi complex has reportedly shut down its CDU-6 crude distillation unit, the largest processing block at the plant, following damage from a Ukrainian drone strike.  According to Reuters, t…

A three-day national strike prompted by layoffs at the Dangote refinery has led to production losses of 600,000 barrels, the chief executive of the Nigerian National Petroleum Company has said. “I think it was unfortunate that the Dangote and PENGASSAN…

Ørsted has completed its widely publicized rights issue at a heavily discounted price, raising the target amount of 59.56 billion crowns, equal to some $9.35 billion. According to the company, 99.3% of the issue was subscribed for by existing and new s…

In a new operational blow to Russia’s refining capacity, the Kirishi complex has reportedly shut down its CDU-6 crude distillation unit, the largest processing block at the plant, following damage from a Ukrainian drone strike.  According to Reuters, t…

China is building new oil storage sites as it stockpiles crude while it is cheap. This year and next will see a total of 11 new storage sites built across the country, Reuters reported today, noting that the combined capacity of the new sites would com…

Kazakhstan will boost its crude oil exports to Germany next year after Kazakh national oil and gas company KazMunayGas extended a supply deal with Rosneft Deutschland, which has been under German trusteeship since 2022. Kazakhstan is supplying crude to…

Iran claims a new natural gas discovery would add an estimated 10 trillion cubic feet to its gas reserves and could help offset an expected energy imbalance. Iran has discovered significant gas and oil reserves at the Pazan field in the southern part o…

Saudi Arabia left the official selling price of its crude oil selling in Asia in November unchanged from the October prices as OPEC+ continues to lift production amid a market concerned about an imminent oversupply.  Saudi Aramco, the Kingdom’s oil gia…

French private investment firm Ardian will buy Irish energy utility Energia Group from infrastructure investor I Squared Capital, as power demand is set to surge with Ireland’s growing digital economy and data centers.  Energia “is well positioned to m…

China’s network of subsea pipelines has reached a total length of 10,000 kilometers, CNOOC reported this week. The news was hailed by media as a milestone in offshore oil and gas development in the world’s largest importer of energy commodities as it s…

The U.S. Administration wants to ensure that the just-restarted oil exports from Iraq’s semi-autonomous region of Kurdistan continue to flow via pipeline to Turkey in the long run, an anonymous official at the U.S. Department of State told Bloomberg on…

Shell is preparing to start production of liquefied natural gas from the second train at its installation in British Columbia, set to boost the total output from the facility by 6.5 million tons. The news comes as unnamed sources told Reuters this week…

Iraq could ramp up its crude oil exports by some 250,000 barrels daily as it saves this amount from local consumption with the help of several solar power projects. Zawya reported the news, citing a government official, who said that “Iraq consumes nea…

Crude oil prices were on course to book their steepest decline in four months following reports that OPEC+ was about to extend its production boost for another month at its Sunday meeting. At the time of writing, Brent crude was trading at $64.53 per b…

Fuel oil imports into the U.S. Gulf Coast surged in September to the highest level in a quarter century, reflecting the impact of sanctions constraining Venezuelan and Russian crude exports and forcing refiners to improvise with alternative feedstocks….

Gazprom delivered a record-high volume of natural gas to domestic customers on September 30 as a cold snap gripped Russia, the Russian gas giant said on Thursday.  “The increase in gas consumption is associated with a sharp cold snap and the start of t…

Russia’s government plans to boost fuel imports from Belarus and import gasoline from China, Singapore, and South Korea to address falling domestic output and gasoline shortages in several regions, Russian daily Kommersant reports, citing measures bein…

India likely exported the highest-ever monthly volume of diesel to Europe in September, as higher premiums and curbed capacity due to maintenance in Europe incentivized Indian refiners to ship more fuel to the west, Reuters reported on Thursday, citing…

Natural Gas Intel has reported exclusively that pipeline gas flows from the United States into Mexico are being reduced because certain volumes are failing to meet specification requirements. The issue, tied to compositional limits such as nitrogen, su…

BlackRock’s Global Infrastructure Partners is negotiating the acquisition of power utility AES in a deal that could be worth $38 billion. That would make the tie-up one of the largest in history involving a public power utility in the United States, pe…

The U.S. Department of Energy has canceled $7.6 billion in funding for previously approved energy projects on the grounds that they would not produce any palpable benefits for Americans. The canceled projects are 223 in total, approved by various agenc…

Major U.S. oil companies and their top managers were targeted by sanctions by a Yemeni body affiliated with the Iran-aligned Houthi rebels, for what they say is violating a Houthi embargo. The Humanitarian Operations Coordination Center (HOCC), a Houth…

The U.S. government has now officially shut down after Republicans and Democrats failed to come to an agreement on a stopgap bill to fund operations. The impact of this shutdown will not stop at furloughed staff or shuttered museums. In energy, a shutd…

U.S. oil firm Sable Offshore Corp, which seeks to restart production offshore California via a pipeline to the coast, has unveiled an alternative offtake strategy after being sued by the Santa Barbara County District Attorney for environmental violatio…

Oil prices recovered slightly in early Asian trading on Wednesday after two straight sessions of steep declines, as traders weighed the prospect of a larger OPEC+ output increase against signs of tighter U.S. crude inventories.  At the time of writing,…

U.S. oil firm Sable Offshore Corp, which seeks to restart production offshore California via a pipeline to the coast, has unveiled an alternative offtake strategy after being sued by the Santa Barbara County District Attorney for environmental violatio…

U.S. oil firm Sable Offshore Corp, which seeks to restart production offshore California via a pipeline to the coast, has unveiled an alternative offtake strategy after being sued by the Santa Barbara County District Attorney for environmental violatio…

China Mineral Resources Group, the state-owned Chinese iron ore buyer, has told domestic steelmakers and traders not to buy or take any iron ore cargo from BHP, the world’s biggest miner, amid stalled negotiations over contract renewals, sources with k…

The biggest refinery in Africa, the Dangote plant in Nigeria, has become the bone of contention in a bitter labor dispute which has led to a nationwide strike in the top African crude oil producer.  The main Nigerian oil union launched on Monday a nati…

Russia’s liquefied natural gas cargoes could be redirected to Turkey and Asia if the European Union makes a plan to ban Russian LNG official, Patrick Pouyanne, the chief executive of French oil and gas supermajor TotalEnergies, says. TotalEnergies is d…

UK oil and gas producer Serica Energy plc is expanding its footprint in the UK North Sea with the acquisition of assets from Prax Group that would give it stakes and operatorships of additional oil and gas field in one of the world’s most mature offsho…

Exxon has asked for security guarantees for its Rovuma LNG project from Mozambique’s government, the Financial Times reported, citing unnamed sources, who said the discussions were directly with the president of Mozambique, Daniel Chapo. Darren Woods, …

Imperial Oil, an Exxon oil sands subsidiary, is planning to reduce its workforce by 20% in anticipation of lower oil prices brought on by an expected supply overhang next year. According to a company statement, Imperial Oil will “consolidate activities…

Shell aims to strengthen its focus on LNG over the next decade, with chief executive Wael Sawan saying that LNG will be the company’s “biggest contribution to the energy industry”, per a Reuters report that cited a statement by the executive. Sawan not…

Declining revenues from oil and gas amid lower prices this year have prompted the Algerian government to consider a bond issue to raise the equivalent of $2.3 billion. Algeria’s government plans a seven-year Islamic bond issue, the so-called sukuk, of …

Declining revenues from oil and gas amid lower prices this year have prompted the Algerian government to consider a bond issue to raise the equivalent of $2.3 billion. Algeria’s government plans a seven-year Islamic bond issue, the so-called sukuk, of …

Nayara Energy, the Indian refiner that was slapped with EU sanctions because of its partial ownership by Rosneft, has started to recover from the blow, turning to payments in rupees for the oil it sources from the Russian company. Bloomberg reported th…

Occidental Petroleum is reportedly in talks to divest its petrochemicals division, OxyChem, in a deal that could be worth up to $10 billion and would create one of the largest independent petrochemicals companies in the world. The Financial Times wrote…

Exports from the semi-autonomous region of Kurdistan will resume on Saturday, September 27, following agreements reached between Iraq’s federal government, the Kurdistan Regional Government, and a group of international oil companies, Norway-based oil …

Global oil demand is set to rise through 2030 amid weaker-than-expected efficiency gains, BP said on Thursday in its 2025 Energy Outlook, in which the supermajor ditches its forecast from last year that oil demand could peak as soon as this year. In th…

The Bureau of Land Management has launched a tender for a deposit with over 300 million tons of coal in the latest demonstration that the federal government means business with regard to conventional energy. The deposit that the BLM is tendering is on …

Turkey’s state energy company, BOTAS, has signed a landmark 20-year U.S. LNG supply agreement with Mercuria, anchoring Ankara’s strategy to reduce dependency on pipeline gas and reposition itself as a regional hub, according to the Daily Sabah.  The de…

Seven indigenous communities in the Amazon have spoken out against a plan by the Ecuadorian government to open up oil and gas exploration at 49 blocks that could bring in a total of $47 billion, the Associated Press has reported, adding that environmen…

Some traders are betting that Europe’s natural gas prices would surge by 60% from current levels by next summer, amid many uncertainties on the market months from now. Options were traded on Monday at calls of $59 (50 euros) per megawatt-hour for April…

Sempra Energy has struck a deal to sell a 45% stake in its infrastructure business, Sempra Infrastructure Partners, to companies affiliated with KKR and the Canada Pension Plan Investment Board. The transaction will make the KKR-led group of investors …

Crude oil prices extended their gains today, after the American Petroleum Institute reported an estimated inventory decline for the week to September 19. At the time of writing, Brent crude was trading at $67.73 per barrel and West Texas Intermediate w…

In his sprawling address to the United Nations General Assembly on Tuesday, President Donald Trump attacked both climate change initiatives and clean energy. He called into question the scientific consensus on the topic and the economic viability of cl…

Indian state-held Oil and Natural Gas Corporation Limited (ONGC), the biggest oil and gas producer in the country, is looking to buy 2.5-3 gigawatts (GW) of renewable energy projects, a senior ONGC executive said on Wednesday.   Currently, ONGC has aro…

Shares in Ørsted (CPH: ORSTED) surged by 12% at opening in Copenhagen on Tuesday after a U.S. court blocked last month’s Trump Administration stop-work order on a nearly completed offshore wind project. Ørsted and its joint venture partner Skyborn Rene…

Russia is considering extending its current ban on exports of gasoline and introducing a ban on diesel exports as fuel shortages have emerged amid intensified Ukrainian drone attacks on Russian refineries and other energy infrastructure. The government…

Norwegian oil and gas production exceeded the regulator’s forecast by 2.6% in August, for the second consecutive month, data from the Norwegian Offshore Directorate showed on Tuesday. Last month, oil output in Western Europe’s biggest crude and natural…

Italy has approved, with conditions, the merger of Italian energy services group Saipem and Norway’s Subsea7, which plan to create an energy services giant with $25 billion worth of combined revenues, Italian business daily MF-Milano Finanza reported o…

The arbitrage window for U.S. crude sold in Asia is shrinking amid higher tanker rates and a climbing WTI price, Reuters has reported, citing traders. The publication cited LSEG data showing that Very Large Crude Carrier rates jumped to 12.5 million la…

Danish offshore wind developer Ørsted has been cleared to restart work on its nearly complete Revolution Wind project after a federal judge blocked the Trump administration’s order to halt construction. The ruling represents a major victory for Ørsted …

Hungary has no intention of suspending Russian oil imports despite pressure on the whole of the European Union from U.S. President Donald Trump and EU pressure on Hungary specifically. “We can’t ensure the safe supply [of energy products] for our count…

Australia’s oil and gas major Santos on Monday announced that a floating production vessel had received first gas from the $4.5-billion Barossa project offshore northern Australia, with the floating unit being the production centerpiece of the Barossa …

Australia’s oil and gas major Santos on Monday announced that a floating production vessel had received first gas from the $4.5-billion Barossa project offshore northern Australia, with the floating unit being the production centerpiece of the Barossa …

China’s crude imports from Russia fell in August compared with a year earlier, representing the first annual decline in months, according to official Chinese customs data cited by South China Morning Post. However, there is nuance in the data detail, w…

Global nuclear power generation is on course to decline after a record-breaking 2024 on insufficient investment and aging power plants, the World Nuclear Industry Status Report has warned. Ahead of the official release of the report, later today, Reute…

India’s federal government is in discussions with state governments to have them buy more renewable sources for power generation, Indian federal Minister of New and Renewable Energy, Pralhad Joshi, said on Monday. State-held utilities have been delayin…

Governors of the states covered by the biggest U.S. grid operator, PJM Interconnection, will discuss a greater role for the states in the decision-making at the company amid soaring consumer electricity bills, a source with knowledge of the plans told …

Russian gas producer Novatek has rerouted approximately 70,000 metric tons of gas condensate to the Black Sea port of Novorossiisk due to a shutdown at its Ust-Luga gas condensate complex, sources told Reuters. The disruption traces back to a drone att…

India will continue to buy Russian crude in the coming months, with active purchases for cargoes loading in November and December, sources familiar with the plans of Indian refiners told Bloomberg. The tensions of the past weeks between the U.S. and In…

Australia’s oil and gas giant Santos will review any future takeover offer, but it’s confident it can hike cash flow and returns to shareholders with major upcoming projects, CEO Kevin Gallagher said on Friday, after the collapse of a $19-billion takeo…

ExxonMobil doesn’t plan a return to the Russian oil industry, the U.S. supermajor’s chief executive Darren Woods told the Financial Times on Thursday, noting that talks with Russia are being held on recouping billions of U.S. dollars of expropriated as…

The fate of Citgo, the jewel in the crown of Venezuela’s PDVSA, may be decided by the end of this week. The Venezuelan state-owned oil company may lose its prized asset. The creditors that fueled the process that led to the auction for Citgo may be lef…

Oil prices declined in Wednesday’s intraday trading after the U.S. Federal Reserve cut its benchmark interest rate by 25 basis points, marking the first cut since December 2024, and signaled more cuts could be coming this year.   All but one Fed offici…

The consumption of crude oil for power generation in the Middle East is on the decline, leaving more crude available for exports, the International Energy Agency has reported. This is despite a surge in electricity demand in the region, the agency adde…

Plains All American Pipeline is grappling with a crude quality scare on its Permian-to-Corpus Christi system, raising questions for both refiners and exporters at the Gulf Coast’s busiest hub. A notice seen by Reuters and dated September 11 warned ship…

Russia’s oil producers may have to reduce output as intensified Ukrainian drone attacks have damaged critical export and port infrastructure. State pipeline firm Transneft, which handles more than 80% of all the crude oil pumped in Russia, has warned p…

Two independent Chinese refiners have started buying feedstock for two bankrupt refineries that they acquired from a state-owned company, Reuters has reported, citing trade sources without naming them. Qicheng Petrochemical and Qirun Petrochemical, acc…

The first cargo of Nigerian gasoline produced at the Dangote refinery has reportedly arrived at its destination in the United States. Reuters, citing unnamed sources in the know and ship-tracking data, said the gasoline cargo was arranged by Sunoco and…

A sanctioned oil tanker has unloaded its cargo at the Indian port of Mundra despite the port owner’s order not to allow sanctioned tankers to dock there, Reuters has reported, citing ship-tracking data from Kpler and LSEG. The Mundra port is owned by A…

The world needs to develop new oil and gas resources just to keep output flat amid faster declining rates at existing fields, the International Energy Agency (IEA) said on Tuesday in a major shift in its narrative from 2021 that ‘no new investment’ is …

The Australian state of Victoria said on Tuesday it would delay its first offshore wind auction amid challenging investment climate in the sector, in another blow to Australia’s offshore wind ambitions.  The offshore wind auction in Gippsland, initiall…

The Ksi Lisims LNG project has received an environmental assessment certificate from the British Columbia authorities that brings it closer to the start of construction. The federal government also granted the project its environmental approval. CBC re…

Global electric vehicle sales grew by 15% in August from a year earlier, slower than the 27% growth rate in January-July, as EV sales in the biggest market, China, increased by only 6%, data from EV research firm Rho Motion showed on Friday.   China co…

China plans to have its battery storage capacity more than double to 180 gigawatts (GW) by 2027 in a new plan aimed at attracting $35.1 billion (250 billion Chinese yuan), the authorities said on Friday.    The massive deployment of the so-called new e…

The European Union announced on Thursday that it will lock in its deadline to phase out Russian oil and gas imports by January 1, 2028, holding firm even as Washington demands an accelerated timetable. According to Reuters, EU Energy Commissioner Dan J…

Tanker markets staged a comeback in August, and this time the rebound wasn’t subtle. Suezmax rates shot up 34% month-on-month, according to OPEC’s latest Monthly Oil Market Report published on Thursday, with the West Africa–US Gulf Coast run alone surg…

The Canadian federal government has proposed lifting an emissions cap on the oil industry, but only if the industry promises to find other ways to reduce its emissions in line with 2030 and further targets. Per a Reuters report citing unnamed sources i…

Saudi Arabia’s crude shipments to China are expected to rebound in October to a level with the August volumes of more than two-year highs, after Saudi state oil giant Aramco slashed the price of its crude for Asia next month. Aramco is expected to ship…

China appears to have become a regular importer of liquefied natural gas from the sanctioned Arctic LNG 2 project in Russia as the third cargo in two weeks has just discharged gas at a Chinese import terminal.    The LNG tanker Zarya, sanctioned by the…