Oil

EU

Doubling Renewables ‘Could Help Europe Halve Gas Usage by 2030’

An accelerated push for renewables could cement Europe’s efforts to halve its total gas consumption, as countries strive to enhance sustainable economic develo…

Oil Price

Bank of England: ‘Historic’ Energy Shock Bigger than Any Year in the 1970s

Bank of England Governor Andrew Bailey has warned the shock to inflated-adjusted incomes in Britain as a result of rising energy prices will be larger than any …

LNG

U.S., German Officials to Meet this Week on LNG, Hydrogen Supplies

U.S. and German government officials will meet in Berlin this week with energy industry executives to discuss ways to boost Germany's energy supplies, as Russia…

Crude Oil

Ukraine Crisis: Why India Is Buying More Russian Oil

Russia is seeking new markets for its oil exports as Western sanctions tighten - and India has been taking advantage of discounted prices to ramp up imports fro…

OPEC

Russia Will ‘Always’ Be a Part of OPEC+, UAE Energy Minister Says

The United Arab Emirates’ energy and infrastructure minister has insisted that Russia will always be a part of OPEC+ even as governments across the globe shun …

Will Turning down Europe’s Thermostats Ease the Gas Supply Crisis?

To counter the extremely high gas prices caused by the Russia-Ukraine crisis the IEA has proposed turning thermostats down in households to use less gas.

Crude Oil

U.S. Oil Exports Surge, Drawing Crude away From Storage Hub

U.S. oil exports have climbed following Russia's invasion of Ukraine, and barrels of domestic oil that would typically go to the Cushing, Oklahoma, storage hub …

LNG

Latvia Mulls Options for Its Own LNG Terminal

Investors from the United States and the Middle East are among at least four groups expressing an interest in construction of a Liquefied Natural Gas (LNG) term…

Crude Oil

EU Steps back From Impractical Russia Oil Embargo

EU leaders have stepped back from imposing an immediate embargo on Russian crude and petroleum product imports as the impracticality of the policy has become cl…

Crude Oil

China's Sinopec Plans Its Biggest Capital Expenditure in History

China Petroleum & Chemical Corp, better known as Sinopec, is planning its highest capital investment in history for 2022 after recording its best profit in a de…

Offshore Wind Power

How the UAE Is Helping to Power 2 Million Dutch Homes

The new era of offshore wind power demands engineering as formidable as that achieved in the era of oil and gas. The UAE is playing its role.

Natural Gas

Will Importers Cave into Putin’s Gas for Rubles Demand?

Russian President Vladimir Putin recently required “unfriendly” buyers of the country’s natural gas to pay in rubles, a move that could have far-reaching imp…

United Kingdom

Industry Body Says Offshore Fields Can Support 40% of UK’s Gas Consumption

The UK’s offshore fields can support around 40% of the country’s gas consumption and two-thirds of its oil consumption over the next two years.

Oil Price

Sinopec's 2021 Profit More Than Doubled on Higher Oil Prices, Sales

China Petroleum & Chemical Corp.'s 2021 net profit more than doubled to its best level in nearly a decade on higher prices and demand for petroleum products.

United States

Why Gas Prices Have Soared in America

Why gas prices are high even though the U.S. doesn't depend on Russia for oil?