German households will have to start paying an energy levy this fall, adding as much as 1,000 euros ($1,020) per year to the cost of living following Russia’s moves to squeeze gas deliveries. Starting in October, utilities will be able to pass along costs for offsetting missing Russian supplies. The …

Russia is boosting natural gas shipments to China as it curbs flows to Europe, a dynamic that may offer some respite from the unprecedented rally in energy costs, according to consultant Accenture Plc. Gas prices in Europe soared after Russia slashed supplies to its biggest market following the invasion of …

African energy giants Algeria, Nigeria and Niger signed a memorandum of understanding Thursday on a vast gas pipeline project offering Europe potential future alternatives to Russian supplies, state media reported. The Trans-Saharan Gas Pipeline (TSGP) would transport billions of cubic metres of gas some 4,128 kilometres from Nigeria in West …

Shell on Thursday reported a second-quarter profit of $11.5 billion, smashing its previous record just three months earlier, lifted by a tripling of refining profits and strong gas trading. The company also announced a share buyback program of $6 billion for the current quarter, but did not raise its dividend …

As Sri Lanka faces its worst economic crisis in seven decades, an energy catastrophe is looming for the country. Without the rapid formation of a new government that can introduce an interim budget and financial reforms, as well as financial support from neighboring countries, the country could soon run out …

When Gazprom suspended the flow of gas earlier this month via the Nord Stream 1 pipeline, the European Union—and Germany, specifically—braced for a permanent halt in that flow. The deterioration in relations between Brussels, Berlin, and Moscow made such a halt a distinct possibility, but Gazprom restarted the flow of …

As the OPEC+ group prepares to roll back all production cuts by the end of next month, analysts and the market are searching for the answer to the million-dollar question shrouded in mystery: How much more oil can Saudi Arabia actually produce? And how much into spare capacity is the …

Oil prices increased on Thursday, supported by a drop in US crude oil inventories easing demand concerns. International benchmark Brent crude was trading at $102.71 per barrel at 08.45 a.m. local time (0545 GMT) for a 1.02% increase after closing at $101.67 a barrel in previous trade. American benchmark West …

Germany is thinking about delaying the shutdown of the country’s remaining three nuclear plants as Russia continues to reduce natural-gas supply to Europe’s top economy. “The economy minister has commissioned an intensified worst-case scenario calculation. Let’s have a look at that,” said German Chancellor Olaf Scholz on Friday, Bloomberg reported. …

Europe’s energy efficiency plan to combat the bloc’s energy crisis and secure sufficient gas supplies ahead of the winter cannot exclude gas flow from Russia in order to fill up gas storage. Natural gas storage has become an important tool in alleviating the energy crisis, which has escalated since the …