Finance Minister Christian Lindner said this is necessary to reduce dependence on Russian energy sources due to the invasion of Ukraine, writes RBC-Ukraine, citing Reuters. Germany, which depends on Russia for two-thirds of its natural gas imports, is urgently trying to stimulate the development of alternative energy sources, including the …

The global oil market was tight even before the Russian invasion of Ukraine, but Putin’s war and its consequences on Russian crude supply and energy prices have the potential to hurl the market into a major supply shock comparable with the 1973 Arab oil embargo. Oil stocks in major oil-consuming …

As the EU discusses how fast it can reduce its dependency on Russian energy imports, Poland claims it’s an example of how to do just that as it ends its status as a Russian natural gas customer. “Over the past five years, we have built the Baltic gas pipeline to …

Ukraine’s gas reserves amount to 9.5 billion cubic meters (bcm) with production continuing at all facilities except at plants in areas where fighting is taking place, Prime Minister Denys Shmygal said late on Saturday. Imports continue from Hungary, Slovakia and Poland, Shmygal said in a video address. Before Russia’s invasion, …

Eni and BP have completed a deal to merge their oil and gas operations in Angola, the groups said on Friday. It will create a company called Azule Energy that is expected to be Angola’s largest producer, with stakes in 16 licences and in the Angola liquefied natural gas joint …

China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, the top economic planner said. The country’s daily output of coal has maintained more than 12 million tonnes since late February, up 10 percent year on year, the National …

The number of total active drilling rigs in the United States rose by 13 this week as WTI trades near $109 per barrel. The total rig count rose to 663 this week, while U.S. producers continue to prioritize fiscal discipline over risky investments to boost oil production. Baker Hughes reported …

Despite pledges to contribute to global efforts of reducing emissions, China will continue to maximize the use of coal in coming years as it caters to its energy security, the top Chinese policymakers said this week. Chinese President Xi Jinping has told representatives from its biggest coal-producing region, Inner Mongolia, …

Vice President and Head of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami said that political influences outside the framework of rules and regulations of the International Atomic Energy Agency (IAEA) can not affect Iran ties, underlining that Tehran always acted according to international rules of International Atomic Energy …

India’s Cairn Oil & Gas, a unit of Vedanta, will spend as much as $4 billion over the next three years to more than triple its production, as high prices attract more investments. India’s biggest non-state producer, controlled by billionaire Anil Agarwal, plans to drill more wells to explore new …