Oil

Crude Oil

UK to Phase out Russian Oil Imports by End of 2022

The UK Government has announced plans to phase out oil imports from Russia by the end of 2022 in response to Vladimir Putin’s illegal invasion of Ukraine.

Oil Exploration

Oil and Gas Exploration is on The Rise In Africa

Increasing exploration activities in 2022 and onwards is a top priority for African hydrocarbon producers as they seek to expand production and establish the co…

Oil & Gas Supply

With Oil Market in Turmoil, Energy Execs Urge more Output, Security

Oil-and-gas leaders advocated at an industry conference on Monday for increased security of energy supply and more fossil fuel production, while the U.S. climat…

Whiting Petroleum and Oasis Petroleum Sign $6bn Merger Deal

US-based shale producer Whiting Petroleum signed a merger deal with Oasis Petroleum to create a new enterprise, valued at approximately $6bn.

Oil Price

Crude Oil Jumps as much as 7% on U.S. Ban of Russian Imports, but Trades off Session Highs

Oil prices jumped to their highs of the session Tuesday as President Joe Biden announced a ban on Russian fossil imports including oil in response to the countr…

Oil Price

Ukraine Speeds Global Rush to Self-Sufficiency

Brexit, trade wars between the United States and China, and Covid-19 have dealt successive knocks to globalisation, and the war in Ukraine is doing fresh damage…

Oil & Gas Trade

Biden Announces Ban on Russian Oil, Gas Imports to US

President Joe Biden announced Tuesday morning that the US would ban imports of #oil, natural gas and coal from #Russia. The British government also announced it…

Natural Gas

Fixing Wind, Solar Permitting in EU to Help Reduce Russian Gas Imports

Speeding up wind and solar permitting, diversifying gas supplies and making the most of existing low-carbon energy sources are important steps to reduce the EU…

Natural Gas

Chevron CEO Announces Israel Gas Pipeline Could Supply Europe

Europe’s natural gas shortage has renewed talk of the EastMed pipeline – a Mediterranean Sea pipeline that could carry gas from Israel to European customers.…

Natural Gas

Shell Sorry for Buying Russian Crude

Oil major Shell on Tuesday apologised for buying a cargo of Russian crude oil last week, a decision which was made with the security of supplies in mind and gui…

Coal Price

Coal Use Rises, Prices Soar as War Impacts Energy Markets

The war in Ukraine is having a global impact on energy prices, not only driving the cost of oil higher, but also sending coal prices to record levels as demand …

Oil Price

Petrol, Diesel Price Increase on Wait-and-Watch Mode; CNG Rates Hiked

CNG price in the national capital and adjoining cities on Tuesday was hiked by Rs 0.50 per kg, while an imminent increase in petrol and diesel price has been pu…

Oil Price

Goldman Sachs ups 2022 Brent Crude Oil Spot Price Forecast to $135/bbl

Goldman Sachs Research has raised its 2022 & 2023 Brent spot price forecast to $135/bbl & $115/bbl, up from $98 and $105/bbl respectively amid geopolitical tens…

Oil Price

Oil Companies to Determine Fuel Prices: Hardeep Singh Puri

Amid the Russia-Ukraine war, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Tuesday said oil companies will determine the fuel prices, even …

Oil Price

No Need to Panic. Oil Prices Could Drop to $100 a Barrel in Two Weeks

The current oil surge wouldn’t last and prices are likely to drop to $100 per barrel within two weeks, Bharat Petroleum Corp (BPCL) chairman has said