The European Union firmly opposes unilateral sanctions and threats of sanctions by the United States, as they affect the interests of European companies, including Nord Stream 2 and Turkstream gas pipelines. Such measures go against the international law, EU High Representative for Foreign Affairs and Security Policy Josep Borrell said …

Ongoing development of new liquefied natural gas (LNG) projects in Russia will allow it to seize a 15-percent share of the global LNG market, Russian Energy Minister Alexander Novak wrote in an article in the Russian magazine Energy Policy. Since Russia began LNG exports in 2009 with the Sakhalin-2 project, …

The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after the weakening of the OPEC+ production restrictions, Energy Minister Alexander Novak told reporters. “No, we do not expect it, because the market is already conscious …

The COVID-19 crisis has led to more than $3.4 billion in lost revenues for the U.S. ethanol industry, according to an economic analysis released by the Renewable Fuels Association. Based on the latest projections from the Energy Information Administration and the Food and Agriculture Policy Research Institute, the RFA study …

The United States, the Iraqi government, and the Gulf Cooperation Council have reiterated their full support for a project linking the electricity networks between the latter and Iraq. In a statement to the US State Department, Washington said it is, “committed to facilitating this project and providing support when needed”. …

The United States on Wednesday hardened its efforts to prevent the completion of new German-Russian and Turkish-Russian gas pipelines by ending sanctions exemptions for companies involved in the projects and warning they will be subject to US penalties unless they halt their work. US Secretary of State Mike Pompeo announced …

Saudi Aramco has joined with European and US supermajors – representing a third of the world’s oil industry – to begin curbing emissions at their own operations as the clamor builds for the biggest polluters to act on climate impact. Members of the Oil & Gas Climate Initiative, a group …

Oil prices eased on Thursday after OPEC and allies such as Russia agreed to taper record supply curbs from August, though the drop was cushioned by hopes for a swift U.S. demand pick-up after a big drawdown from the country’s crude stocks. Brent crude LCOc1 fell 27 cents, or 0.6%, …

Iraq will supply less oil to some refiners in Asia and Europe as it seeks to meet its production-cut target under the OPEC+ output agreement. SOMO, the state-run oil marketing company in OPEC’s second-biggest producer, notified at least six customers in Asia that it won’t fulfill their requests for contractual …

Russian Energy Minister Alexander Novak said on Wednesday that the global oil market is now balanced and stable following a sudden decline in demand due to the coronavirus pandemic. Speaking after a meeting of the OPEC+ group’s Joint Ministerial Monitoring Committee (JMMC), which had recommended an easing of curbs on …