Although the U.S. marked an historic shift in 2020 by becoming a net exporter of petroleum, it has remained a net importer of crude oil since the end of the Second World War, according to Energy Information Administration (EIA) data. For the relatively uninitiated, which appears to include Saudi Arabia …

Natural gas deliveries to Ukraine from European Union countries fell 28.3% to 1.836 billion cubic meters in 2022 from 2.562 bcm in 2021, Ukrainian media reported, citing data published by Ukraine’s Gas Transmission System Operator (GTSOU). This included 735.9 mcm delivered to underground storage facilities at the “customs warehouse” in …

Oil prices fell on Wednesday as an unexpected build in crude and fuel inventories in the U.S., the world’s biggest oil consumer, and economic uncertainty reignited demand worries. U.S. West Texas Intermediate (WTI) crude futures decreased by 79 cents, or 1.1%, to $74.33 a barrel at 0503 GMT, while Brent …

Oil prices slid on Tuesday over concerns about economic growth and oil demand in the US, the world’s largest oil consumer, and as weaker US dollar increases traders’ appetite for cheaper dollar-indexed crude oil. International benchmark Brent crude traded at $79.32 per barrel at 9.55 a.m. local time (0655GMT), a …

Kyiv expects the European Union to include Russian state nuclear energy company Rosatom in its next round of sanctions over the war in Ukraine, Prime Minister Denys Shmyhal said on Monday (9 January). Shmyhal said after talks in Kyiv with European Commission vice-president Frans Timmermans that Russia’s nuclear energy industry …

Russia’s Lukoil has sold its Italian refinery to a group of firms backed by a major trading house in its first significant asset sale since Moscow’s invasion of Ukraine, the companies said on Monday (9 January). Since its inception following the collapse of the Soviet Union, Lukoil had been one …

Norway will continue to pump the current high volumes of natural gas for at least another five years as operators have pledged $30.3 billion (300 billion Norwegian crowns) to develop new fields and extend the lifetimes of producing fields, the Norwegian Petroleum Directorate said on Monday. “These are remarkable investments …

Europe imported nearly one-quarter of all LNG traded last year, becoming the premium market for liquefied natural gas as it seeks to replace Russian pipeline gas supply. This year, Europe needs to import even larger volumes of LNG—in the absence of much of the Russian gas—to refill gas storage sites …

India has officially booted Japan out of the number three spot in the global automotive market. Latest industry data, reported on by Nikkei, shows that for the first time ever, India is now the third largest global auto market. For 2022, the country’s new sales came in at 4.25 million …

China issued a substantial increase in its crude imports quotas for this year, the clearest sign yet that Chinese refiners are set for a material increase in output – and a surge in demand for oil – as the nation finally moves away from its ridiculous Covid Zero policy. On …