Berlin took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted after Moscow’s offensive in Ukraine. Rosneft’s German subsidiaries, which account for about 12 percent of oil refining capacity in the country, were placed under trusteeship of the Federal Network Agency, …

Türkiye is a “reliable route” for gas deliveries from Russia, the Russian president said on Friday. During a meeting with his Turkish counterpart Recep Tayyip Erdogan on the sidelines of the Shanghai Cooperation Organization (SCO) summit in Samarkand, Uzbekistan, Putin thanked Erdogan for the Ukraine grain deal. He expressed hope …

Oil prices rose on Friday, Sept. 16, but declined for the third consecutive week amid recession concerns. Crude prices were driven by China’s data that reflected the success of stimulus measures in supporting the economy to face the repercussions of COVID-19, as retail sales and industrial production rose more than …

China faces its biggest annual drop in oil demand in more than three decades as Covid-19 lockdowns and a property crisis weigh on growth in the world’s No. 2 consumer, the International Energy Agency said. Chinese oil demand will decline by 420,000 barrels a day, or 2.7%, this year in …

Shell Plc Chief Executive Officer Ben van Beurden will step down at the end of this year after almost 40 years at the company, to be replaced by the firm’s head of gas and renewables, Wael Sawan. Van Beurden, 64, has steered the company through some of its most turbulent …

Commission President Ursula von der Leyen announced a new legislative proposal, the Critical Raw Material Act, to tackle the evolving dependency on China when it comes to raw materials and ensure more resilient supply chains. The proposal was announced as part of von der Leyen’s annual State of the Union …

It’s December in Europe, and the temperature is dropping. People have the heating on as they cook dinner, run the washing machine, watch television. But in France, the grid operator is running out of options to keep the lights on. The utility has issued a “red” alert, meaning supplies are …

The European Union will propose measures to cap revenues from low-cost electricity generators and force fossil fuel firms to share the profits they make from soaring energy prices, European Commission President Ursula von der Leyen said on Wednesday. European governments have ploughed hundreds of billions of euros into tax cuts, …

Russia’s oil-export revenue contracted to $17.7 billion in August, the lowest since at least March, as a decline in crude prices more than offset higher supplies abroad, according to the International Energy Agency. That’s a drop of $1.2 billion from a month earlier, even as Russia’s daily crude and oil …

Current forecasts of U.S. crude oil production growth may have to be significantly revised as the recent slide in active drilling rigs in the top shale basin, the Permian, suggests that output may disappoint due to supply chain constraints and cost inflation in the double digits. The rig count in …