Oil prices fell below the $110 per barrel mark early on Monday after China locked down several cities because of a surge in COVID cases and Russia and Ukraine separately signaled progress in talks that continue today. As of 7:30 a.m. EDT on Monday, WTI Crude was down 5.75% at …

The EU plans to impose sanctions against Russian oil giants Rosneft , Transneft and Gazprom Neft and block investments in fuel production, media have reported on Monday. European Union states are set to undertake new sanctions towards Russia’s oil majors Rosneft , Transneft and Gazprom Neft, but will proceed to …

The Iranian Energy Ministry announced that it is planning to install a total number of 550,000 rooftop solar units as part of its push to develop the renewable energy capacity in the country. “The government hopes the number of rooftop solar units in the country will increase to over 100,000 …

German Finance Minister Christian Lindner remains opposed to a boycott of Russian oil and gas, even with leading members of his Free Democratic Party saying restrictions should be imposed to punish Russia for its invasion of Ukraine, the Tagesspiegel newspaper reported on Sunday. “Our concern must be to build up …

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 …