Oil prices are on track to post a weekly gain amid expectations that the first U.S. trade deal post-tariffs, with the UK, could be a good sign of thaw in the tense trade relations ahead of the U.S.-China talks this weekend. As of 9:45 a.m. EDT on Friday, the front-month …

Nord Stream 2, the Switzerland-based company behind the gas pipeline project, has reached an agreement with its creditors to restructure its debt, a Swiss court in Zug said on Friday. Friday, May 9, was the deadline set by the court for Nord Stream 2 to restructure its debt and repay …

The UK is more than doubling the funding for a so-called Clean Industry Bonus to support offshore wind projects, just as the world’s biggest offshore wind project developer, Orsted, pulled the plug on a major UK plan due to worsened economics. The UK government announced on Friday that it is …

Indonesia plans to slash its fuel imports from Singapore and source more refined products from the United States as the country looks to negotiate lower tariffs with the U.S. Indonesia was slapped with one of the highest tariffs – 32% – in the “liberation day” tariffs announced by U.S. President …

The U.S. is proposing that the Task Force on Climate-related Financial Risks (TFCR) at the Basel Committee on Banking Supervision (BCBS) be downgraded to a working group, the Financial Times reported on Friday, citing sources briefed on the matter. The Basel Committee is the top global regulator of the banking …

Russia saw its budget revenues from oil and gas drop by 12% in April from a year earlier, due to the oil price rout last month, the Russian finance ministry said on Wednesday. Oil and gas revenues for the Kremlin dipped to $13.45 billion (1.09 trillion Russian rubles) in April, …

Slovakia criticized on Wednesday the European Commission’s roadmap to phase out imports of all kinds of Russian energy by 2027, particularly natural gas, claiming that it is “economic suicide” that will hurt the EU more than Russia. The European Union’s executive arm, the European Commission, on Tuesday unveiled a roadmap …

U.S. supermajor ExxonMobil plans to invest as much as $1.5 billion in deepwater oil and gas exploration and development offshore Nigeria, the local regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said. Exxon sold last year its onshore assets to local firm Seplat Energy, but is committed to offshore …

India’s federal government eased on Wednesday coal supply restrictions, allowing independent power producers to bid and procure coal supply at auctions for periods of between 1 and 25 years. Under the new measure passed by the cabinet, producers can bid for coal for periods of up to 25 years at …

Norway is looking to expand its oil and gas production with a new licensing round in frontier areas, with parliament directing the country’s minority government to facilitate the event. Reuters reports that the proposal to restart licensing rounds for oil and gas came—unsurprisingly—from the Conservatives but it gained majority support …