Oil

OPEC

Oil Jumps 4% to 5-Week High Lifted by OPEC+ Output Cut

Oil prices jumped about 4% to a five-week high on Friday, lifted again by an OPEC+ decision this week to make its largest supply cut since 2020 despite concern …

Crude Oil

Putin Orders Seizure of Exxon-led Sakhalin 1 Oil and Gas Project

Russian President Vladimir Putin signed a decree on Friday that establishes a new operator for the Exxon Mobil Corp-led Sakhalin-1 oil and gas project in Russia…

Crude Oil

China Releases First Batch of 2023 Crude Oil Import Quotas

China has issued the first batch of crude oil import quotas for 2023, mainly to independent refiners, four sources familiar with the matter said on Saturday.

Oil Refinery

France Struggles with Refinery Strikes, but Not Planning Petrol Rationing

More than a fifth of France's service stations were grappling with supply problems on Saturday as strikes at refineries run by oil majors TotalEnergies and Exxo…

Oil&Gas Drilling

UK Launches Licensing Round for New Oil and Gas Projects

Nearly 898 blocks and part blocks could potentially be developed under the new awarded licenses

Wind Farm

BP to Triple Offshore Wind Farm Workforce as It Seeks to Reach Green Goals

Oil major aims to reach about 800 employees in the business unit next year

Oil&Gas Drilling

‘New North Sea Oil and Gas Projects at Odds with UK Climate Goals’

New oil and gas fields cannot alleviate the financial pressure caused by rising energy bills, according to a report

Natural Gas

Shell Warns Weak Earnings From Gas Trading Could Impact Profits

Shell warned that third-quarter profits would be dented after it weathered a sharp rise in refining costs and weaker earnings from natural gas trading.

India

India's Fuel Demand Slips to 10-Month Low in September

India's monthly fuel demand in September was at the lowest since November 2021, government data released on Friday showed.

Crude Oil

U.S. Sells Oil from Emergency Reserve to Marathon, Equinor, Others

The United States has sold a 10.15 million barrel batch of oil from the Strategic Petroleum Reserve to eight companies, the Department of Energy said on Friday.…

Coal-Fired Power Plants

Ørsted Ordered to Restart Oil- and Coal-Fired Power Plants amid Supply Crunch

Danish authorities have ordered Ørsted to continue and resume operations of three of its oil- and coal-fired power station units in order to ensure security of…

Natural Gas

Natural Gas Markets to Remain Tight in 2023 as Russia Cuts Supply, IEA Says

Global gas consumption will decline by nearly 1% in 2022

OPEC

Opec+ to Hold In-Person Meeting Next Week in Vienna

This will be the first in-person ministerial meeting since March 2020, the group says

Natural Gas

Fourth Gas Leak at Nord Stream Found

Authority supervising the Swedish coastline has confirmed its findings while the US reaffirmed its support to its European allies

Natural Gas

OPEC+ Has Begun Talks on Output Cut at Oct. 5 Meeting

Leading OPEC+ members have begun discussions about an oil output cut at the group's next meeting on Oct. 5, three sources told Reuters.