Russia

Natural Gas

Lukoil Strikes Gas at a Caspian Structure, but Major Oil Prospect Proves to be a Mirage

Russian producer was hoping for a much-needed boost in oil reserves within large licence block in Russian sector of the Caspian Sea

Natural Gas

Average US Gas Price Rises 22% in Two Weeks to Record $4.43

The average U.S. price of regular-grade gasoline shot up a whopping 79 cents over the past two weeks to a record-setting $4.43 per gallon (3.8 liters) as Russia…

EU

EU Will Need Five Years to Ditch Russian Energy

Europe plans to phase out its dependency on Russian oil, gas and coal by 2027.

LNG

Japan Eyes LNG Investments to Cut Dependence on Russian Energy

Japan aims to reduce its dependency on Russian energy supply by taking steps.

Crude Oil

As West Shuns Moscow, Officials Say India Eyes More Cheap Russian Oil

India may take up a Russian offer to buy crude oil and other commodities at a discount.

United Kingdom

UK Prime Minister Johnson to Visit Saudi Arabia for Oil and Gas Talks

Boris Johnson will meet Crown Prince Mohammed bin Salman on Tuesday in a bid to have oil and gas production boosted.

EV Market

Higher Petrol Prices Hurt, but Cutting Fuel Excise will Slow Transition to Electric

Australian petrol prices are rising as Russia’s invasion of Ukraine pushes up global oil prices. It’s likely motorists will be paying more than $2.15 a litre …

Russian Federation

Norway's Equinor Confirms Trading Halt in Russian Oil

Norwegian state oil company Equinor said on Monday it will stop trading in Russian oil as the company shuts down operations in Russia following its invasion of …

Crude Oil

Japan to Call on Middle East Oil Producers to Raise Output

Japan will ask oil producing countries in the Middle East to ramp up production in the face of surging prices triggered by Russia’s invasion of Ukraine, Prime …

OPEC

Russia-Ukraine War: Develop Gas Infrastructure to Increase Export to Europe

The Lagos Chamber of Commerce and Industry (LCCI) has asked the federal government to improve Nigeria’s gas infrastructure.

Oil Price

Oil Expected to Stay Above $100 Amid Russia-Ukraine Crisis and Demand Push

The upside will remain limited above the $130 per barrel mark, while the $100 per barrel will be an important support to watch.

Oil&Gas Drilling

Shale Drilling Climbs Most in Month as Biden Calls for More Oil

Shale explorers returned to growth mode this week, adding the most rigs in a month as the Biden administration calls on them to unleash more crude to offset a b…

Crude Oil

Crude Prices Fall as Optimism Grows on Russia-Ukraine Peace Talk

Crude oil futures were lower in Asian trading March 14 as Russia-Ukraine peace talks continue even as attacks increase in western Ukraine near Poland.

Oil Price

Oil Declines as Iran, Russia and Fed Jostle for Limelight

Oil resumed its decline after Iran carried out a missile strike in Iraq following the suspension of nuclear talks, while Russia’s bombardment of Ukraine prompt…

Crude Oil

Can OPEC Help Manage the Ongoing Crude Price Rally with Its Spare Capacity?

The group needs to reassure consumers as to how much spare capacity it holds and that it is ready to use it in an emergency.