OPEC on Thursday cut its forecast for growth in world oil demand in 2022 for a second straight month, citing the impact of Russia’s attack on Ukraine, rising inflation and the resurgence of the Omicron coronavirus variant in China. In a monthly report, the Organisation of the Petroleum Exporting Countries …

Germany said Russia is using energy as a “weapon” after Moscow reduced natural gas supplies in retaliation for Europe’s penalties over the war in Ukraine. A unit of Gazprom PJSC that was seized by Germany has had its deliveries reduced by about 10 million cubic meters a day, according to …

French energy major TotalEnergies has started construction of the Eolmed project, operated by Qair and in which TotalEnergies has a 20 percent stake. This 30 MW project is located some 12 miles off the coast of Gruissan and Port la Nouvelle. The start of production is expected by 2024. The …

China has pledged to inject 10 billion yuan ($1.5 billion) into its coal-fired power firms to provide financial relief and support their efforts to guarantee power supplies, state media said late on Wednesday, citing a cabinet meeting. The new funding was part of a wider package of policies announced by …

Czech state fuel distributor Čepro is ready to build a liquefied natural gas (LNG) terminal in the country so gas could be transported from the Baltics by train. In the future, ship transport is also possible if the navigability of the Elbe River is resolved. Planned LNG transhipment facility is …

Saudi Aramco has dethroned Apple as the world’s most valuable company as surging oil prices drive up shares and tech stocks slump. The Saudi Arabian national petroleum and natural gas company, billed as the largest oil producing company in the world, was valued at $2.42 trillion based on the price …

Chinese oil buyers are spoilt for choice right now even as lockdowns hurt demand as they can opt for everything from discounted Russian crude and sanctioned Iranian oil to regularly-taken Middle Eastern barrels. While a wave of sweeping anti-virus curbs has put a dent in current consumption, China has an …

Reuters reports that Ukraine will suspend the flow of gas through a transit point which it said delivers almost a third of the fuel piped from Russia to Europe through Ukraine, blaming Moscow for the move and saying it would move the flows elsewhere. Ukraine has remained a major transit …

Senior OPEC ministers opposed a new US bill aimed at regulating production, saying such measures would lead to more chaos in energy markets. UAE Energy Minister Suhail Al Mazroui told CNBC that OPEC is being unfairly attacked over the energy crisis and that actions by US lawmakers to disrupt an …

Liquefied natural gas buyers in Northern China are concerned virus-linked curbs on travel and industry will persist through summer, further limiting demand. Respondents to a government survey expect LNG imports in Northern China, which accounts for about a third of the nation’s deliveries, to drop by at least 20% for …