Temperatures might be soaring across Germany but staying warm this winter without Russian gas — which until the start of the war supplied over 50% of annual demand — is already a pressing concern. Plans to make up the shortfall, if Russian supplies run dry, are already in place: Higher …

The value of Iran’s non-oil export to its neighboring countries increased 22 percent in the first four months of the current Iranian calendar year (March 21-July 22), as compared to the same period of time in the past year, the spokesman of the Islamic Republic of Iran Customs Administration (IRICA) …

Oil prices fell on Tuesday as bleak economic data from top crude buyer China renewed fears of a global recession. Brent crude futures fell 73 cents, or 0.8 per cent, to $94.37 a barrel by 0313 GMT. WTI crude futures dipped 44 cents, or 0.5 per cent, to $88.97 a …

Mexico — which imports nearly all of the natural gas it burns — has laid out a somewhat surprising mission: to become one of the world’s top exporters of the fuel, and fast. Although natural gas exports from Mexico are today non-existent, seeing as it produces too little of the …

Russian oil production fell in the first weeks of August, ending several months of recovery from Western sanctions imposed over Russia’s war in Ukraine, the Kommersant business daily reported Monday. Average daily production so far this month has fallen by 3% compared to July, totaling 1.428 million tons, the publication …

The forecast for global crude oil demand was raised by the International Energy Agency (IEA) and lowered by OPEC in reports last week, but the apparent differing views actually masked an increasing convergence between the consumer and producer groups. The market take on last week’s separate reports was largely that …

Oil prices dropped for a second session on Monday after the head of the world’s top exporter, Saudi Aramco, said it is ready to ramp up output while production at several offshore U.S. Gulf of Mexico platforms is resuming after a brief outage last week. Brent crude futures fell 27 …

Russia defied expectations of a collapse in oil production following its invasion of Ukraine. But Moscow will have to redouble its efforts to find new buyers if it’s to keep output from shrinking in the coming months. After plunging in the immediate aftermath of its offensive in February, Russian production …

Oil giant Saudi Aramco on Sunday unveiled record profits of $48.4 billion in the second quarter of 2022, after Russia’s war in Ukraine and a post-pandemic surge in demand sent crude prices soaring. Net income leapt 90 percent year-on-year for the world’s biggest oil producer, which clocked its second straight …

Russia’s Gazprom has ramped up flows to Hungary via the TurkStream pipeline that brings gas to Hungary via Bulgaria and Serbia, a Hungarian foreign ministry official said on Saturday (13 August). European Union member Hungary has maintained what it calls pragmatic relations with Moscow since Russia’s invasion of Ukraine, creating …