Russia’s latest gambit in the Ukraine conflict is to open a currency war with the West. Vladimir Putin’s declaration that Russia will only accept roubles as payment for natural gas bought by ‘unfriendly’ countries is the latest salvo in the long-running attack by Russia and China on the petrodollar system. …

Ukrainian President Volodymyr Zelenskyy called on energy producing countries on Saturday to increase output so that Russia cannot use its oil and gas wealth to “blackmail” other nations. Addressing the Doha Forum international conference by video link, Mr Zelenskyy said countries such as Qatar could make a contribution to the …

Iran is ready to hold talks with Saudi Arabia and Kuwait on the joint development of the Arash gas field (called Durra in Saudi Arabia and Kuwait), Spokesman of the Ministry of Foreign Affairs of Iran, Saeed Khatibzadeh said, Trend reports citing the ministry. According to Khatibzadeh, as Iran has …

EU leaders failed on Friday to agree a short-term solution to the energy market crunch made worse by Russia’s invasion of Ukraine, but did offer a compromise for Spain, where increasing fuel prices prompted 12 days of blockades by lorry drivers. A debate on whether to cap energy prices, pitting …

In reaction to a so-called agreement concluded between Saudi Arabia and Kuwait on Arash/Al-Durra Joint Gas Field, Iranian Foreign Ministry Spokesman said that Iran reserves right to operate Arash/al-Durra Joint Gas Field. Arash/al-Durra Gas Field is a joint gas field between Iran, Kuwait and Saudi Arabia and that parts of …

Iran’s Oil Minister Javad Oji says the country needs a $200bn investment in the upstream and downstream and petrochemical industries, the bulk of which has been raised under 50 contracts. Oji said the contracts pertain to the development of oil fields, gas flares and gas fields as well as the …

Global oil prices closed at more than 12% of weekly gains today, Saturday. Brent crude closed in its last session yesterday, Friday, with a rise of 1.62 dollars, to reach 120.65 dollars, and achieved a weekly profit of 12.72 dollars or 11.79%. US West Texas Intermediate crude also closed up …

While it does not operate any oil and gas fields or LNG plants in Russia, the French oil and gas company has minority stakes in several non-state-owned Russian oil and gas companies. These include Novatek (19.4%), Yamal LNG (20%), Arctic LNG 2 (10%) and TerNefteGaz (49%). TotalEnergies is also a …

An immediate ban on Russian energy imports would trigger an economic recession in Germany and across Europe, German Chancellor Olaf Scholz warned Wednesday. Speaking to the Bundestag, Scholz said Germany would end its energy dependence on Russia in due course but cutting all ties now would hit the German economy …

Global energy-related carbon dioxide emissions rose by 6 per cent in 2021 to 36.3 billion tonnes, their highest ever, as the world economy rebounded strongly from the COVID-19 crisis and relied heavily on coal to power that growth, according to a new analysis by France-based International Energy Agency (IEA). Thus, …