Oil

EU

The EU Wants to Give up Russian Gas

​The EU's demand for Russian gas could decrease by as much as two-thirds by the end of 2022.

Energy Transition

At Global Energy Conference, Oil and Gas Industry Leaders Argue For Fossil Fuels’ Future in the Energy Transition

Russia’s invasion of Ukraine and grim climate reports changed the conversation, but not the industry’s assertion that it will remain a critical part of the gl…

Natural Gas

Why LNG Won’t Fully Replace Russian Gas in Europe

Europe faces a number of challenges in importing more U.S. LNG.

Germany

German Finance Minister Plans Gasoline Discount

German Finance Minister Christian Lindner plans to introduce a discount on gasoline to help motorists cope with soaring prices, Bild daily reported on Sunday.

Oil Price

Oil Prices Fall, Continuing Downward Trend From Last Week

Oil prices fell on Sunday at the start of the session, extending last week’s decline, as a U.S. official said Russia was showing signs it might be willing to h…

Crude Oil

Countries and Companies Shun Russian Crude over Ukraine Invasion

Russian gas flows to Europe remain stable, but Moscow is starting to face problems in selling its crude oil and oil products as Western sanctions over Russia's …

LNG

EIA: US Weekly LNG Exports Down by One

The U.S. Energy Information Administration (EIA) reports that LNG exports are down by one LNG carrier this week from last week.

Crude Oil

Aramco Takes FID to Build Refinery and Petrochemical Complex in China

Saudi Arabian Oil Company (Aramco) has taken the final investment decision (FID) to develop a refinery and petrochemical complex in China, in partnership with N…

LNG

Worley to Pull out of Russia over Ukraine Invasion

Australia-based engineering firm Worley has decided to suspend its operations in Russia in response to invasion of Ukraine.

Oil Price

Oil Price Shock Jolts Global Recovery as Economic Impact of Russia’s Invasion Spreads

The highest oil prices since the 2008 financial crisis are dealing a heavy blow to the global economy, slowing Europe’s pandemic recovery to a near stall and c…

Crude Oil

What the Bans on Russian Fossil Fuels Actually Mean

Prices are up—but so is the pressure to switch to electric everything.

Saudi Arabia

Riyadh Oil Refinery Attacked by Drone, Supplies Unaffected

A refinery in Saudi Arabia's capital, Riyadh, was attacked by a drone on Thursday morning but petroleum supplies were not affected.

Oil&Gas Drilling

Ukraine-Russia Conflict Could Impact Vietnam Oil Drilling

PetroVietnam has cautioned that the disruptions to international trade caused by Russia’s invasion of Ukraine could impact its operations.

Crude Oil

Eni Suspends Russia Oil Purchase over Ukraine Invasion

Eni, which has already suspended its JVs with Russia’s Rosneft, has take-or-pay gas contracts with Russian energy firm Gazprom.

Oil & Gas Supply

Iraq's Oil Supply Compatible with Global Demand

Iraq said on Wednesday that its crude oil exports are in line with the consumption in the world oil market, ruling out the need to increase oil production.