The European Union’s energy ministers approved on Tuesday a plan to extend the emergency cap on natural gas prices for another year until the end of January 2025. The original cap on gas prices, the so-called “market correction mechanism,” was introduced at the end of last year to shield industry …

Germany’s state-controlled firm Securing Energy for Europe (Sefe) and Equinor signed on Tuesday one of the biggest-ever natural supply deals for Norway’s energy giant worth an estimated $55 billion (50 billion euros). Equinor will supply Germany’s Sefe with around 10 billion cubic meters (bcm) of natural gas per year from …

Russia is working on the possibility of increasing exports of oil and petroleum products to Uzbekistan, Deputy Prime Minister Denis Manturov said, Trend reports. The remark was made during the meeting of the intergovernmental commission on economic cooperation between Russia and Uzbekistan. The official noted that, the Russia supports Uzbekistan’s …

Türkiye’s natural gas demand is expected to increase and reach around 53 billion cubic meters (bcm) in 2024, according to Yaşar Arslan, president of Türkiye’s Natural Gas Distribution Companies’ Association (GAZBIR), on Sunday. Arslan told Anadolu Agency (AA) that natural gas consumption this year may remain below the 56 billion …

Oil giant BP has announced it is pausing all shipments of oil through the Red Sea after recent attacks on vessels by the Yemeni army. It made the decision because of the “deteriorating security situation” though said it was a temporary move, media reported pmn Monday. A number of freight …

Norway’s energy research and business intelligence company Rystad Energy has joined Denmark’s Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping to advance the maritime industry’s role in the global energy transition. On December 15, 2023, the duo signed a knowledge partnership agreement to formalize their collaboration, embarking on a long-term …

Gazprom PJSC and China National Petroleum Corp. (CNPC) have agreed to increase the volume of Russian gas export to China through the Power of Siberia Pipeline next year, Russia’s state-owned Gazprom said. At a meeting between representatives of the oil and gas majors, “[i]t was noted that Russian gas supplies …

Qatar remains the top LNG exporter among GECF member countries and figures among top three global trans-shippers of liquefied natural gas, according to the Gas Exporting Countries Forum (GECF). The top three LNG exporters in November were the US, Australia and Qatar, GECF said in its latest monthly report. In …

Oil prices rose in Asian trade on Monday, rising nearly 1 per cent in early trade, supported by lower exports from Russia and as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruption. Brent crude futures climbed 32 cents, or 0.4 per cent, …

Iran exported non-oil commodities valued at $28.3 million to Kenya during the first seven months of the current Iranian calendar year (March 21-October 22), the spokesman of Trade Development Committee of Iran’s House of Industry, Mining and Trade announced. Ruhollah Latifi also announced that the Islamic Republic imported products valued …