Oil prices eased on Tuesday as Hungary resisted a EU push for a ban on Russian oil imports, a move that would tighten global supply, and as investors took profits following a recent rally. Brent crude futures fell 22c, or 0.2%, to $114.02 a barrel by 3.27am GMT, while US …

The smallest oil producer in the Persian Gulf is turning to natural gas imports to meet rising energy demand as production from its own deposits slips. Bahrain plans to import at least five or six cargoes of liquefied natural gas in 2025, according to Mark Thomas, chief executive officer of …

The volume of natural gas from Russian gas giant Gazprom destined for Europe via Ukraine will decrease 25% on Monday compared to the quantity the previous day, Gazprom’s spokesman Sergey Kupriyanov confirmed. “Gazprom will supply 46.8 million cubic meters of natural gas via Ukraine on May 15 (Monday),” Kupriyanov said, …

RAO Nordic, a subsidiary of Russian state energy holding Inter RAO, has suspended its electricity supply to Finnish electricity grid operator Fingrid, citing payment concerns. The company has been importing electricity from Russia to Finland and selling it on the Nord Pool exchange for several years. It stopped supplying power …

China increasingly sees the war in Ukraine — and the roles of the United States and its NATO allies in backing Kyiv against Moscow — as a reflection of future tensions to come between the military bloc and Beijing in the Indo-Pacific. Ever since Russian tanks first crossed into Ukraine …

Lukoil ranked second with a brand strength score of 87.4 out of 100, while Gazprom was fifth with 85.9. Malaysia’s Petronas ranked first with 87.7, and the other companies in the top five were Brazil’s Petrobras and Thailand’s PTT. The relative strength of brands is determined through a balanced scorecard …

Iran is considering the possibility of exporting gas to Europe, an oil ministry official said Sunday against the backdrop of soaring energy prices due to Russia’s war in Ukraine. “Iran is studying this subject but we have not reached a conclusion yet,” deputy oil minister Majid Chegeni was quoted as …

Oil prices fell on Monday, paring early gains as investors took profit from a surge in the previous session, albeit in the shadow of supply fear as the European Union prepares an import ban on Russian crude and with limited increase in OPEC output. Brent crude futures were down $1.66, …

Saudi Aramco, the world’s largest oil-producing company, said on Sunday its shareholders have approved a board recommendation to increase capital. The boost will be by way of granting bonus shares through the capitalisation of 15 billion Saudi riyals ($4bn) from the company’s retained profits, Aramco said in a filing to …

The representative of Iraq at the Organization of the Petroleum Exporting Countries (OPEC) confirmed on Saturday that the organization agreed to a new increase in the country’s production of oil starting from July, according to the Iraqi News Agency (INA). The Iraqi representative at OPEC, Muhammad Saadoun, in his statement …