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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Price
03-03-2022

IEA’s Reserves Release Won’t Stop Oil Prices Rising, Says Goldman
The International Energy Agency (IEA)’s decision to release 60 million barrels from emergency oil reserves is not sufficient to meet the supply shortfall caused by Russia’s invasion of Ukraine or prevent prices from going higher, Goldman Sachs said.
Oil & Gas Supply
03-03-2022

Sanctions on Russian Energy ‘on the Table,’ White House Says
The United States is “very open” to imposing sanctions on Russia’s oil and gas industry, White House spokeswoman Jen Psaki said on Wednesday, adding that it is weighing the possible impact on global markets and U.S. energy prices.
Crude Oil
03-03-2022

Oil Markets Hit Multiple Records as Russia Sanctions Bite, Disrupt Trade Flows
Oil benchmarks are hitting multiple price and spread milestones across several key markets as the fallout from severe sanctions on key exporter Russia sows confusion and panic among global crude oil traders, shipping firms and importers.
Natural Gas
03-03-2022

China’s Dual Tariff Plan for Shandong’s Gas-Fired Power to Boost Gas Demand
China’s Shandong province has issued a draft for public comments on the implementation of a two-part on-grid tariff mechanism for local natural gas-fired power plants
Natural Gas
03-03-2022

Michigan’s Average Gas Prices now $3.55 per Gallon, Experts See ‘Little to No Relief’ amid ‘Perfect Storm’
Michigan’s average gas prices continue to rise amid rising oil prices brought on by Russia’s invasion of Ukraine.
Oil & Gas Supply
03-03-2022

ExxonMobil to Exit Russian Oil and Gas Operations Amid Ukraine Crisis
The American energy major is beginning the process to pull out from the Sakhalin-1 venture, in Russia.
Natural Gas
03-03-2022

Italy Considers Increasing Natural Gas Supply from Algeria
The latest move by Italy comes as Western sanctions on Russia threaten to disrupt the gas flow.
Crude Oil
03-03-2022

Canada Eyeing Russian Oligarch Holdings in its Oil-Rich West
Canada is examining assets of Russian oligarchs and considering more sanctions, Finance Minister Chrystia Freeland said, as Western nations increase pressure on President Vladimir Putin over his invasion of Ukraine.
Oil & Gas Supply
03-03-2022

OPEC+ Makes Modest Supply Hike as Russia Turmoil Lifts Price
OPEC and its allies agreed another modest revival in supplies for April at a low-key meeting that was overshadowed by the market turmoil unleashed by Russia’s invasion of Ukraine.
LNG
03-03-2022

Italy Halts Funding for $21 Billion Arctic LNG 2 Project
Italy has halted its share of the financing for the Arctic LNG 2 project, as Western companies and countries continue to sell their stakes in Russian energy projects, even absent of energy-related sanctions.
Natural Gas
03-03-2022

Europe Can Survive Next Winter Without Russian Gas
Russia’s invasion of Ukraine has highlighted the need for Europe to improve its energy security by reducing its reliance on Russian gas.
Oil Price
03-03-2022

OPEC+ Faces Reckoning on Russia Despite Efforts to Ignore Crisis
OPEC+ is doing its best to ignore the war started by one of its leading members, but it may not be able to manage it for much longer.
Oil Price
03-03-2022

Oil Soars as Emergency Crude Release Fails to Quell Supply Fears
Oil extended gains after the close as a decision by the U.S. and other major economies to release emergency stockpiles failed to ease concerns of a major shortfall in supplies as sanctions mount on Russia.
Oil Price
03-03-2022

U.S. Weighs Sanctions on Russia Energy Flows, but Time Is Not 'Right Now'
The United States is open to imposing sanctions on Russia's oil and gas flows but going after its exports now could help Moscow, the White House said on Wednesday as oil prices surged to an 11-year high and supply disruptions mounted.
Oil & Gas Supply
02-03-2022

ADX Energy Increases Austrian Oil and Gas Production
Europe-focused ADX Energy has increased oil and gas output from its Gaiselberg and Zistersdorf fields by 25 per cent in the Vienna Basin, Austria.
Oil & Gas Trade
02-03-2022

Angola Crude Oil Exports Increased by 3% During Q4 2021
The Republic of Angola, sub-Saharan Africa’s second-largest crude producer, saw an increase of 3% in crude oil exports
Oil Price
02-03-2022

UAE Fuel Prices Increase by 11% in March; Cross Dh3-Mark Per Litre
The UAE on Monday increased oil prices for March 2022 by up to 11 per cent per litre as compared to February, in line with the surge in global crude prices due to Ukraine-Russia military conflict.
Oil Price
02-03-2022

Idaho Gas Prices Hold Steady, but the National Average is Soaring
Russia’s invasion of Ukraine is already having far reaching effects, bringing another wave of higher crude oil prices and sending the national average price of gasoline soaring.
Natural Gas
02-03-2022

Gas Prices Rise in Lehigh Valley
Taylor Family Fuel and Mini Marts is a gas station and convenience store located at 309 S New St. Lehigh Valley gas prices have been rising as the demand for oil increases.
Crude Oil
02-03-2022

Ukraine Crisis: IEA Members Vote to Unlock Oil Reserves to Reassure Markets
The 31 countries of the governing board of the International Energy Agency have agreed to release 60 million barrels of oil from their emergency reserves to “send a unified and strong message” to global markets
Crude Oil
02-03-2022

Saudi Arabia May Raise April Crude Prices to Asia to All-Time Highs
Top oil exporter Saudi Arabia may sharply hike prices of crude for Asia in April.
Natural Gas
02-03-2022

New Realms for Gas Power Technology
Gas power technology developers are exploring new roles and applications to ensure gas power will remain relevant as power markets embrace decarbonization.
Natural Gas
02-03-2022

U.S. Natural Gas Key to Mexico’s Power Buildout
Mexico wants to secure a greater supply of natural gas, including from the U.S., as the country continues to build more gas-fired power plants.
Nord Stream 2
02-03-2022

ExxonMobil Joins Western Oil and Gas Company Exodus From Russia
US supermajor to start process of discontinuing operations at the Sakhalin-1 project in response to Russia's invasion of Ukraine.
Nord Stream 2
02-03-2022

Nord Stream 2 Owner Considers Insolvency After Pipeline Halt and Sanctions
The Swiss-based company that built the Nord Stream 2 gas pipeline from Russia to Germany is considering filing for insolvency, sources said, as it tries to settle claims before a US sanction deadline for other entities to stop dealing with it.

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