Lloyd’s Register has removed the certification of 21 vessels operated by Indian shipping company Gatik Ship Management, which is one of the biggest shippers of Russian oil abroad. “Lloyd’s Register is committed to facilitating compliance with sanctions regulations on the trading of Russian oil,” Lloyd’s Register told Reuters, which reported …

Amid a slump in EU gas prices, the continent is rushing to diversify its natural gas imports. Oilprice.com wrote yesterday that Russian gas giant Gazprom has seen its 2022 revenue and market share in Europe collapse as a result of Western sanctions. While Russia is busy trying to re-route exports …

Surging hydroelectric power, new nuclear reactors online, and an influx of solar and wind capacity additions sent electricity prices in Finland below zero on Wednesday, in a stark reversal from last year when residents were warned of shortages after Russia cut off pipeline gas supply to its EU neighbor. “The …

Exxon and its partners in the offshore Stabroek Block in Guyana have made almost $6 billion from their operations. Citing official documents, Reuters says audited financial results show that Exxon, Hess Corp., and CNOOC earned a combined 5.8 billion from the Guyana business in 2022. Exxon’s individual share of the …

Shenzhen-listed Jilin Jinguan Electric Co Ltd signed a memorandum of understanding (MoU) to build a road between Iran and Russia for the construction of new energy facilities, it said on Wednesday. The company plans to build 70 optical storage and charging stations worth 1.4 billion yuan and 3,400 charging facilities …

About a dozen Japanese companies, including major shipbuilders, have invested a total of about 10 billion yen ($72 million) in a British start-up developing floating offshore nuclear power plants, sources familiar with the matter said Wednesday. Onomichi Dockyard Co. and Imabari Shipbuilding Co. are among the companies that provided funds …

Cooler temperatures this week and a dip in available wind power this month are boosting the demand outlook for June for U.S. natural gas, leading to nearly 3% price gains on Wednesday. At 9:45 a.m. EST on Wednesday, U.S. natural gas futures were trading up 2.93% at $2,389 per million …

The Kurdistan Regional Government in northern Iraq has lost more than $1.5 billion since oil exports to Turkey were stopped, according to a report published on Tuesday by the US financial website Zero Hedge. Oil production in the region under KRG rule has continued to decline, extending a stoppage that …

Goldman Sachs continues to be bullish on crude oil and other major commodities, expecting a rally after the biggest-ever destocking in commodities that is currently underway. Should major economies, including the U.S., avoid deep recessions, the foundations for a rally across the commodity complex remain intact, Goldman Sachs analysts wrote …

Union minister for petroleum and natural gas Hardeep Singh Puri on Wednesday said that India will turn into as a major green hydrogen hub and exporter by 2040, catering to both domestic and global demand. Speaking at the CII Annual Session 2023, the minister said that the energy demand in …