Oil

Crude Oil

Barclays Sees Crude Surplus in Near-Term, Cuts Brent Price View

Barclays lowered its Brent price forecasts on Tuesday by $8 per barrel for 2022 and 2023, as it expects a large surplus of crude oil over the near-term due to "…

Oil & Gas Supply

Europe’s Efforts to Shield Households From Soaring Energy Costs

Europe is facing a sharp rise in power bills driven by sky-rocketing gas prices, as war in Ukraine and European sanctions on Russia heighten concerns over the s…

Oil Field

Norway’s Climate Choice: Old Oil, Gas Fields Switch to Green Power or Close Early

Norway will have to phase out some of its old oil and gas fields prematurely to achieve its 2030 climate goals, unless it can use carbon-free power on more offs…

Oil Shale

Oil Output in Permian to Rise to Record High in September -EIA

Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 79,000 barrels per day (bpd) to a record 5.408 million bpd i…

CCS

Oil Industry Gears up to Tap U.S. Climate Bill for Carbon Capture Projects

Tax credits in the $430 billion U.S. climate and tax bill set to be signed into law this week will kickstart carbon sequestration projects, say oil and gas prop…

Natural Gas

Germany Hits 75% Gas in Storage Goal Ahead of Schedule

Germany reached in the middle of August its target to have its natural gas storage 75% full, two weeks ahead of plans, data from Gas Infrastructure Europe showe…

Crude Oil

Switzerland Considers Switching to Oil for Power Plants

Amid a looming energy crisis, Switzerland could turn to oil for electricity production in the winter in case of an emergency, Swiss Energy Minister Simonetta So…

Natural Gas

Heatwave Sends European Gas Prices Higher

Europe’s benchmark gas prices at the Dutch TTF hub increased by 2% to $215.50 per MWh on Monday.

Natural Gas

German Households Will Foot the Bill for New Gas Tax

A new natural gas tax designed to keep importers afloat amid an energy crisis prompted by the war in Ukraine is set to cost German families, who will have to fo…

Natural Gas

Russian Gas Flows to Europe Stable

Warning signs are pictured in front of the gas compressor station, a part of Polish section of the Yamal pipeline that links Russia with western Europe which is…

Crude Oil

It’s Time for an Oil and Gas Boom in Africa

There are plenty of promising oil and gas opportunities in Africa, but the global transition away from carbon-intensive energy sources makes it a controversial …

Crude Oil

The Burgeoning Energy Partnership Between Azerbaijan and the EU

As the European Union continues to pursue new sources of energy to replace Russian oil and gas, it is expanding its energy partnership with Azerbaijan.

Natural Gas

Switzerland Could Align With EU Energy Saving Drive, Energy Minister Says

Switzerland could prevent an energy shortage by aligning with a European Union plan to cut gas use by 15% this winter, Energy Minister Simonetta Sommaruga told …

Natural Gas

Germany Reaches 75% Gas Stocks Target Ahead of Schedule

German gas storage facilities were slightly more than 75% full last Friday, a couple of weeks ahead of target, data from European operators group GIE showed on …

Crude Oil

Saudi Aramco Profit Soars on Higher Prices and Refining Margins

State oil giant Saudi Aramco on Sunday reported its highest quarterly profit since the company went public in 2019, boosted by higher oil prices and refining ma…