Oil Price Europe’s thirst for U.S. crude oil is expected to remain elevated, VP of Midstream for Chevron Corp said today on the sidelines of the Argus Americas Crude summit. “A key change in flow is U.S. crude going to Europe. For this year, I’m pretty confident Europe is short of Russian oil, and we’ll see more U.S. crude there,”
Nasdaq LAUNCESTON – The world imported more liquefied natural gas (LNG) in 2022 than ever before, but the war in Ukraine has meant that the growth was concentrated in wealthy European countries and away from poorer Asian countries. Total global LNG imports rose to 409 million tonnes last year from 386.5 million tonnes in 2021, according to data from Refinitiv,
Oil Price Europe will find it difficult to replace Russian crude oil and product supply once the full effect of the EU embargoes on Russian petroleum products is felt, according to Russian Deputy Prime Minister Alexander Novak. “Europe used to be a key market for the sale of our oil products. Let us wait and see which decisions they
World Oil (Bloomberg) – It’s been eight months since Russia invaded Ukraine, sending global commodity prices soaring and forcing energy-ravenous countries into a mad competitive dash to secure new fuel sources ahead of winter. While the US filled some of the supply gap by exporting huge quantities of liquefied natural gas from its seven plants, global markets are going
Oil Price Europe is set to increase its reliance on oil imports from the United States after the EU embargo on Russian seaborne crude imports enters into force in early December, Claudio Descalzi, chief executive of Italy’s energy group Eni, told Bloomberg in an interview on Monday. The embargo on Russian crude imported by sea kicks in on December 5. Supply to
Oil Price Eni (NYSE: E) reported on Friday third-quarter core earnings and net profit beating analyst expectations amid what the Italian energy group described as an “excellent performance” of its Global Gas & LNG Portfolio. Eni’s adjusted net profit for the third quarter came in at $3.7 billion (3.73 billion euros), more than double compared to the same period of
Natural Gas World LONDON/MADRID – Dozens of ships carrying liquefied natural gas (LNG) are circling off the coasts of Spain and other European countries unable to secure slots to unload because plants that convert the seaborne fuel back to gas are full. Europe is facing an energy supply squeeze as Russia has progressively cut gas flows after the West imposed
CNBC Russia’s nuclear fuel industry remains conspicuously untouched by European sanctions more than seven months into the Kremlin’s war in Ukraine — much to the dismay of Kyiv officials and environmental campaigners. Despite eight rounds of sanctions, targeted measures against energy exports and calls from Ukraine to impose a full embargo on nuclear trade, shipments of nuclear fuel to EU
Natural Gas World HELSINKI/BRUSSELS – Europe may limp through the cold winter months with the help of brimming natural gas tanks despite a plunge in deliveries from former top supplier Russia only to enter a deeper energy crisis next year, the head of the International Energy Agency said. European countries have filled storage tanks to around 90% of their
Oil Price The United States and its natural gas have been vital for Europe’s attempt to fill its gas storage ahead of this winter season. Yet record U.S. LNG exports have led to a surge in domestic gas prices. The boomerang is coming back. When President Joe Biden promised the European Union there would be enough natural gas for
World Oil (Bloomberg) — Europe’s carbon price jumped to a record as the region’s energy crisis is driving up demand for some of the most polluting fuels. Businesses are burning coal and even oil to keep power stations and factories running while cleaner-burning natural gas becomes increasingly scarce. The situation threatens to push up Europe’s carbon footprint this year
World Oil (Bloomberg) — Eni SpA is planning a second liquefied natural gas production vessel offshore Mozambique that could be built in less than four years to help Europe diversify supplies of the fuel, according to a company executive. The Italian oil and gas producer’s potential project would complement its $7-billion Coral-Sul FLNG platform moored off Mozambique’s northern coast that’s
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