Oil

Crude Oil

U.S. December Oil Demand Hits Highest Since Before Pandemic -EIA

U.S. oil demand rose in December to its highest level since before the coronavirus pandemic began, the U.S. Energy Information Administration (EIA) said on Mond…

GECF Launches Global Gas Outlook 2050

The Gas Exporting Countries Forum (GECF), the global platform of the leading gas producing countries, today publicly unveiled its annual GECF Global Gas Outlook…

Crude Oil

Russian Banks' Exclusion from SWIFT to Hurt Indian Oil Companies

Sanctions and exclusion of Russian lenders from the SWIFT system, the most important international payment network, will hurt Indian state-run firms' abilit…

Natural Gas

World Bank: There Will Be Alternatives to Russian Gas in Five Years

World Bank President David Malpass: There will be alternatives to Russian natural gas supply in the five-year horizon.

LNG

Germany Targets 100% Renewable Power Generation by 2035

Germany will target to have all its electricity provided by renewable energy sources by 2035.

Wind Farm

Shell Buys into Australian Wind Farm Developer with $4 bln Project Portfolio

Global oil and gas major Shell Plc has agreed to buy a 49% stake in wind farm developer WestWind Energy's Australian arm as it looks to build a low-carbon power…

Oil Price

OPEC Chief: Oil Industry “Under Siege”

OPEC Secretary General Mohammad Barkindo: oil industry is under siege by climate campaigners.

Oil Price

Russia’s SWIFT Ban Could Send Shockwaves Through Oil and Commodity Markets

Russia’s decision to invade Ukraine was originally met with a relatively tepid response from world leaders, but now sanctions are intensifying key Russian bank…

Crude Oil

Can the U.S. Replace Russian Oil Imports?

Following Russia’s invasion of Ukraine, one of the issues being discussed a lot in the West is what an ongoing military conflict may do to oil prices.

Crude Oil

Rising Crude Oil Prices Great Opportunity for Nigeria

President Muhammadu Buhari says rising crude oil prices present a great opportunity for Nigeria, especially with the passage of the Petroleum Industry Act (PIA)…

Oil & Gas Supply

Carve-out in U.S. Sanctions will Still let Russia Profit from Oil, Gas

There is a glaring carve-out in President Joe Biden’s sanctions against Russia: Oil and natural gas from that country will continue to flow freely to the rest …

OPEC

Saudi Crown Prince Says Kingdom Still Committed to OPEC+ Oil Agreement with Russia

Saudi Arabia remains committed to OPEC+ agreement, Crown Prince Mohammed bin Salman told French President Emmanuel Macron Feb. 27, in an endorsement for the blo…

Energy Investment

Norway’s Equinor will End Investments in Russia, Exit Joint Ventures

Norway’s Equinor said Feb. 28 that it has decided to stop new investments in Russia and start exiting from joint ventures because of Russia’s invasion of Ukra…

Oil Price

India Ready to Tap National Oil Stocks Further to Tackle Soaring Prices

India is prepared to release additional crude from its national stocks in support of efforts by other major oil importers to mitigate surging global prices, the…

Oil Price

Can African Oil Producers Take Advantage of Increasing Oil Prices?

Russia's invasion of Ukraine has pushed the price of oil to over $100 per barrel. But, it's also opened an opportunity for African oil producers like Nigeria, A…