The German section of the Nord Stream 2 gas pipeline may be repurposed to connect to a floating LNG terminal in the Baltic Sea, the German Economics Ministry is studying such plans, the German weekly Der Spiegel reported. According to the plans, the section of the pipeline laid on German …

A proposal under discussion by the G7 would call for using tax money for natural gas projects as a response to Russia’s war in Ukraine — potentially clashing with the group’s climate pledges. A draft section of the communiqué, yet to be agreed by the leaders of G7, acknowledges that …

Iran begins pouring concrete for the wall of the second unit of its Bushehr Nuclear Power Plant aimed at expanding the site in the south of the country. That’s according to the director of the Atomic Energy Organization of Iran, Mohammad Eslami. Speaking in Bushehr, Eslami said the concrete pouring …

European Union leaders on Friday, June 24, warned that “cheap energy is gone” and agreed to boost preparations for further cuts in Russian gas, accusing Moscow of “weaponizing” energy via a supply squeeze which Germany warned could partly shut its industry. A day after celebrations over setting Kyiv on the …

Iraq may end up as one of the biggest losers from cheap Russian barrels flowing to Asia with lukewarm demand for its key grades. There have been no spot purchases of Iraq’s Basrah Medium or Basrah Heavy crude so far in the current Asia trading cycle, while a tender to …

Iran’s customs office (IRICA) announced that the country’s non-oil exports have increased 21% in the first quarter of the current Iranian year (started on March 21). IRICA Chief Alireza Moqaddasi said on Wednesday that Iran had a trade surplus of $605mln in the June quarter. He added that Iran’s trade …

Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of Urals crude have picked up by …

The main factor driving up prices is the supply problems associated with the conflict between Russia and Ukraine. The average price of petrol rose momentarily to more than € 2 per liter as the conflict escalated in February, but the latest rise is part of a steady rise in prices …

Saudi Aramco’s plan to invest in 12,000MW of renewable energy by 2030 entails investing in the kingdom’s national renewable energy programme as well as through affiliate investments in renewables and purchase of renewable energy certificates. “Those will likely primarily come in the form of investments in Public Investment Fund’s (PIF’s) …

Qatar plans to insist on terms that will lock Europe Union countries in for two decades of liquefied natural gas purchases, a move that will complicate the bloc’s goal to cut emissions while also reducing its dependence on Russian fuel. The Persian Gulf state, one of the world’s top LNG …