SINGAPORE (Bloomberg) –The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America.
Natural gas prices have already surged …
MOSCOW – European gas prices surged to all-time highs on Friday as Russia kept a tight lid on supply, signalling further price pressures on European consumers heading into the winter heating season.
Russian gas supplies via the Yamal-Europe pipeline …
WASHINGTON/PARIS – The United States has reached out to China diplomatically about reducing its purchases of Iranian crude oil, U.S. and European officials said on Tuesday, as Washington seeks to persuade Tehran to resume talks about reviving the 2015 …
The COVID-19 pandemic this year has dented oil consumption and brought forward forecasts by energy majors, producers and analysts for when the world’s demand for oil may peak.
Demand was about 100 million barrels per day (bpd) in …
International oil benchmark Brent crude jumped during early trading on Tuesday morning, topping $80 per barrel for the first time since October 2018 before reversing those gains and dipping into negative territory. The breather comes after five straight positive …
SINGAPORE (Bloomberg) –Citigroup Inc. more than doubled its Asian and European natural gas forecasts for next quarter and said prices could surge to as high as $100 per million British thermal units in the event of a particularly …
MOSCOW (Bloomberg) – Europe’s worst energy crisis in decades could drag deep into the cold months as Russia is unlikely to boost shipments until at least November.
Gazprom PJSC is producing the most gas in more than a …
NEW YORK – Citigroup Inc blocked an attempt by Venezuelan state oil company PDVSA to make debt payments to a Siemens unit, a Citi executive testified on Wednesday in a U.S. trial over whether PDVSA is liable for …
DUBAI, United Arab Emirates — Soaring gas prices are the cost of the attempted shift to renewable energy sources, OPEC Secretary General Mohammed Barkindo told CNBC on Tuesday.
“I have talked about a new premium that is emerging
GEORGETOWN – Guyana has granted a unit of Saudi Arabian Oil Co, known as Aramco, a one-year contract to market the government’s share of the crude produced in the South American country, Vice President Bharrat Jagdeo told Reuters.
The …
(Bloomberg) –Natural gas prices in Europe continued their record-breaking run as uncertainties about supply security this winter worsen. Power prices also surged to a new high amid after a disruption on a power link with France.
The …
(Bloomberg) –China’s first auction of oil from its strategic reserves looks relatively paltry, but the possibility of further releases is still likely to exert a powerful influence on global crude prices.
The initial sale will be for about …
MOSCOW, Sept 10 – Trading houses are rushing to supply Russian Urals crude to the United States where oil production was hammered by Hurricane Ida in August, three trading sources said on Friday.
Ida, one of the most devastating …
The world’s largest plant that sucks carbon dioxide directly from the air and deposits it underground is due to start operating on Wednesday, the company behind the nascent green technology said.
Swiss start-up Climeworks AG, which specialises in capturing …
Reuters
The launch of Russia’s Nord Stream 2 gas pipeline will mean Europe will be solely dependent on Moscow-run pipelines as the Ukrainian route for gas delivery to Europe disappears, the head of Ukraine’s gas transit operator said.
Russia’s Gazprom …
(Bloomberg) –Nord Stream 2 AG, the Gazprom PJSC-owned pipeline project to bring more Russian natural gas to Europe, risks delays after losing a court ruling imposing changes to its organization.
DUBAI – The value of Saudi Arabia’s oil exports in June increased 123% to 61.5 billion riyals ($16.4 billion) from a year earlier while non-oil exports rose by around 41%, official data showed on Tuesday.
Overall exports increased by …
CARACAS -With U.S. sanctions spooking key oil buyers and depriving its government of cash, Venezuela last year inked a deal with a little-known local company to swap crude for food, Reuters has learned.
That agreement saw state oil company …
DUBAI – Saudi Aramco 2222.SE is scouting for other potential deals to offer to investors and unlock capital, Chief Executive Amin Nasser said on Monday after the oil giant in June closed a $12.4 billion deal for its crude …
(Bloomberg) –The Biden administration faces the sobering reality that returning to the Iran nuclear deal may no longer be feasible, as the Islamic Republic finds ways to cope with U.S. sanctions and races toward the capacity to build …
DUBAI – Saudi Arabian state oil producer Aramco (2222.SE) reported a near four-fold rise in second-quarter net profit on Sunday, beating expectations and boosted by higher oil prices and a recovery in oil demand.
Aramco said its results were …
SAO PAULO – Brazilian state-run oil firm Petroleo Brasileiro SA PETR4.SA has hired JPMorgan Chase & Co JPM.N as adviser to sell its stake in petrochemical company Braskem SA BRKM5.SA, three sources familiar with the matter said.
Earlier …
Brazil’s state-controlled oil company saw its earnings surge in the second quarter, thanks to a rally in crude prices and a hydropower crunch in Brazil that boosted electricity demand.
Since late last year, Petrobras has sold more fuel oil …
U.S. officials say they are still trying to determine exactly what’s happening, but numerous reports say there’s potentially one hijacked ship in the Gulf of Oman and the status of several others is unclear.
The situation occurred as tensions …
(Bloomberg) –Iran’s oil comeback, already taking longer than many traders expected, will be further complicated by last week’s deadly drone attack on a tanker in the Gulf of Oman, which the U.S., U.K. and Israel all blamed on …
BRUSSELS – The European Union will retain its tariffs on U.S. biodiesel for a further five years after concluding that removing them would likely lead to a surge of imports at artificially low prices.
The tariffs, dating back to …
SINGAPORE – Top oil exporter Saudi Arabia is expected to raise prices across various grades of crude oil it sells to Asia in September for a second straight month, tracking the strength in Middle East benchmarks, trade sources said.…
MILAN – Italian energy group Eni pledged higher shareholder returns after swinging to a net profit in the second quarter to beat expectations as firmer oil prices offset lower production.
Adjusted net profit was 929 million euros ($1.1 billion), …
