France is working up to fully nationalizing the currently 84% state-owned nuclear energy company Électricité de France (EDF) at the same time that the company is anticipating a massive downturn in profits. EDF had already warned investors that its core profits would take a considerable hit this year, but just …

Continued high gas prices in Europe in the aftermath of Russia’s invasion of Ukraine in February have prompted several major European oil and gas companies to expedite the development of gas projects in the Middle East, with Italian major Eni’s latest announcement regarding the UAE being the latest example. According …

Oil prices rose early on Wednesday in Europe in subdued and choppy trade as the markets expect the Fed’s interest rate decision in the early afternoon ET. As of 2:30 a.m. ET, the U.S. benchmark WTI Crude was up by 1.04% at $84.78. Brent Crude, the international benchmark, traded 1.09% …

Stating that his country believes in significance of returning to JCPOA, Foreign Minister of Qatar Sheikh Mohammed bin Abdulrahman Al-Thani said that Doha is trying to play a constructive role in Iran’s nuclear negotiations. Speaking on the sidelines of the 77th meeting of the UN General Assembly (UNGA) on Wednesday, …

The German government has agreed to nationalise the country’s biggest gas importing company, Uniper. The move expands state intervention in the industry to prevent an energy shortage resulting from Russia’s war in Ukraine. The deal with Uniper builds on a rescue package agreed in July and features a capital increase …

Last week, the media rushed to report that natural gas prices in the United States had fallen sharply after trade unions and railway companies reached a tentative deal that averted a potentially devastating strike. Indeed, natural gas prices fell by nearly a dollar per million British thermal units, helped by …

As Europe looks for oil, gas, and fuels from anywhere but Russia, a shortage is developing on the tanker market, Bloomberg has reported, as vessels carrying fossil fuels for Europe have to travel longer distances and fewer voyages. As a result, freight costs are elevated, too, with the cost of …

Earlier this year there were high hopes around the U.S. lifting its sanctions on Venezuela in the face of oil shortages and rising prices, due to the Russian invasion of Ukraine, allowing black gold to once again flow out of the South American oil giant. But this has not yet …

Oil prices steadied on Tuesday after rising in the previous session on concerns that further U.S. interest rate hikes this week to tame inflation will curb economic growth and fuel demand in the world’s biggest oil consumer. Brent crude futures for November settlement rose 3 cents to $92.03 a barrel …

Head of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami stressed on Monday that messages delivered by the International Atomic Energy Agency (IAEA) to us show that they intend to close the case of alleged locations. Referring to the messages from the IAEA, Eslami said that IAEA wants to …