Oil prices held steady on Tuesday as rising COVID-19 cases in China sparked fears of lower fuel consumption from the world’s top crude importer and a cut in OPEC’s 2022 global demand forecast offset worries about tight supply. Brent crude futures edged up 11 cents, or 0.1 per cent, to …

Asian share markets were mixed on Tuesday and oil was weaker as investors sought to digest the economic implications of China’s COVID policy adjustments and a rescue package for the country’s struggling property sector. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.1%, following mild losses for …

Irish and French energy regulators confirmed that the Celtic Interconnector will be completed by 2027, despite a substantial re-evaluation of the project’s costs. The French grid operator also confirmed the partial launch of the Savoy-Piedmont electricity interconnection. The network operators behind the Celtic Interconnector project, an electricity connection between France …

The Eastern Mediterranean could become a “stable supplier of energy” to the European Union if the recent maritime border agreement between Israel and Lebanon spurs more investment in the region, the head of the company that launched the latest gas production project says. “I think there is a lot more …

Crude oil began trade today with a gain on the resurgence of hopes that Chinese demand is about to enter recovery mode. The hopes followed announcements from China that some pandemic restrictions will be relaxed. The gains, albeit modest, reflect a reversal in market sentiment, which just last week led …

The refinery in Schwedt, Germany, near the Polish border, refines 12 million tons of oil every year. It was built in the 1960s and received its supplies from the Druzhba pipeline, which pumped oil from Russia through Belarus and Poland onward to Germany. The plant in Schwedt was an object …

The German government is postponing its decision on a gas and electricity price brake that had been planned for Friday. Due to the complexity of the project and necessary consultations with the European Union, it will probably not be possible to refer the matter to cabinet this week, said a …

Oil switched between gains and losses, as the market remains caught between the outlook for global growth and China’s easing of COVID restrictions. West Texas Intermediate futures traded near US$89 a barrel and have been in a range of just over US$10 for the last month. The dollar rose for …

Türkiye’s Black Sea gas field is on track to go online next year as promised and work has sped up to connect it to the national infrastructure, President Recep Tayyip Erdoğan said Saturday. Addressing a natural gas pipeline opening in the northern Kastamonu province, Erdoğan said drilling at nine of …

The petrochemical facility in Ras Laffan, a collaboration between QatarEnergy and Chevron will comprise an ethane cracker that will produce 1.9m tonne of ethylene per year, an 82 percent output increase making it the biggest of its kind in the region and one of the largest in the world when …