The EU’s embargo on Russian oil will trigger demand spike for Azerbaijani crude from the European countries, Philipp Lausberg, Policy Analyst in the Europe’s Political Economy program at the European Policy Centre (EPC) told Trend. “The EU’s embargo on Russian oil will increase European demand for oil from other countries. …

From the moment Russian gas exports to Germany were first disrupted in June, German firm Kelheim Fibers began casting around for alternative options to keep its engines running. As a result, the Bavarian-based firm, whose fibres are used in anything from teabags to tampons, will be able to use heating …

The company responsible for the construction of the Nord Stream 2 pipeline received a six-month stay of bankruptcy, shielding it from creditors, the AP reported, noting the stay will last from January 2023 to June the same year. The gas pipeline, which doubled the capacity of its twin pipeline Nord …

America’s largest natural gas producer, EQT Corp, has experienced a plunge in production up to 30% due to severe cold weather that led to Appalachian Basin well disruption, Bloomberg reports. Speaking to Bloomberg Television on Wednesday, EQT Chief Executive Officer Toby Rice said output fell by between 1 billion and …

The EU’s embargo on Russian oil will trigger demand spike for Azerbaijani crude from the European countries, Philipp Lausberg, Policy Analyst in the Europe’s Political Economy program at the European Policy Centre (EPC) told Trend. “The EU’s embargo on Russian oil will increase European demand for oil from other countries. …

Russia set a record in daily gas deliveries to China on Wednesday, according to the head of the Russian energy giant Gazprom. Speaking at a meeting in Moscow, Alexey Miller said Gazprom made a decision to supply gas to China in volumes exceeding the daily contractual obligations. The maximum excess …

Oil prices dipped on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world’s largest crude oil importer. Brent futures for February fell 26 cents, or 0.3 per cent, to $83.00 a barrel by 0430 GMT, while U.S. crude fell 26 cents, …

The Qinshui coalbed methane field in north China’s Shanxi Province, the largest of its kind in the country, produced 6 million cubic meters of gas on Tuesday, hitting a fresh daily high. Located in the southeast of Shanxi, the PetroChina Huabei Oilfield’s Qinshui coalbed methane field spans more than 3,000 …

Natural gas output in the Appalachia region, the top gas-producing basin in the U.S., dropped by a record amount as Winter Storm Elliott swept through Pennsylvania and Ohio, freezing wells and some equipment and creating mechanical issues at pipeline infrastructure. The Appalachia basin saw natural gas supply drop by 27%, …

Oil dipped amid thin liquidity as investors weighed the fallout from a Russian ban on exports to buyers that adhere to a price cap. West Texas Intermediate fell toward $79 a barrel after closing little changed on Tuesday. Moscow’s restrictions will begin on February 1 and last until at least …