Oil

Energy Investment

Britain’s Windfall Tax Risks North Sea Cash Flight, Output Drop, Industry Warns

North Sea oil and gas producers hit back after Britain's decision to raise a windfall tax on the sector, warning the move risked jeopardizing investment in the …

United Kingdom

UK to Spend £20BN Closing off 2,000 Oil and Gas Wells in Next Decade, Report Says

Offshore Energies UK estimates 200 wells will be decommissioned every year at a cost of £7.8m each

Oil Refinery

Strike at BP’s Largest European Refinery Could Deepen Diesel Crisis

Refinery workers at BP’s biggest refinery in Europe are on a partial strike over demands for higher wages and will not cooperate in efforts to restart the Rott…

OPEC

UAE Denies It Is Engaging in Discussion With Other OPEC+ Members to Change Their Latest Agreement - Minister

United Arab Emirates' energy minister said on Monday that the Gulf state denied that it is engaging in any discussion with other OPEC+ members to change their l…

Brazil

Brazil’s Incoming Government to Revoke Bolsonaro’s Biodiesel Mandate Decision

Brazil's incoming government will look to revoke a decision to keep the mandatory blend of biodiesel in diesel at 10% until March 31, 2023, a member of the tran…

Oil Price

Oil Prices Reverse Course After Saudi Arabia Denies Output Hike Rumors

Saudi Arabian officials are denying the news that OPEC is considering a 500,000 bpd output hike.

Crude Oil

Colombia Reportedly Reconsidering Its Idea to Halt on New Oil and Gas Projects

Colombia could reconsider a campaign pledge from its newly-elected leftist President Gustavo Petro to stop new oil and gas exploration licensing in the country,…

LNG

Floating LNG Projects Boom as Europe Races to Stock up on Gas

Floating LNG projects are booming in both gas-importing countries and gas-producing countries.

Crude Oil

Europe Rushes to Fill Up on Russian Diesel Before Ban Begins

European traders are rushing to fill tanks in the region with Russian diesel before an EU ban begins in February, as alternative sources remain limited.

LNG

Germany’s LNG Terminals to Cost More Than Double Earlier Estimate

The purchase and maintenance of floating liquefied natural gas (LNG) terminals to help Germany secure energy supplies and diversify away from Russian gas, will …

Natural Gas

North America’s Natural Gas Can Help Mitigate Energy Crisis

In the effort towards decarbonisation, North America could be a key player in providing affordable natural gas, addressing energy security issues.

LNG

U.S. Gas Prices Jump as Freeport LNG Targets Full Restart in March 2023

U.S. natural gas prices surged on the news that one of the largest U.S. LNG export terminals is targeting a complete operational restart by March 2023.

Natural Gas

Germans Face More Power and Gas Price Hikes in January - Portal

Many German households face another 50%-plus hike in power and gas supplies in January due to the lag in suppliers passing on higher wholesale market prices and…

Crude Oil

EU Expects to Be Ready for Russia Oil Price Cap Dec. 5 Start - Officials

The European Union expects to have its regulations completed in time for the introduction of a G7 plan to cap the price of Russian crude oil on Dec. 5 , the EU'…

Crude Oil

European Refiners Oversupplied as Oil Shortage Fears Subside

European refiners have found themselves oversupplied with crude as an expected shortage owing to the looming EU ban on Russian oil has yet to materialise.