International

Japan will seek to maintain its stake in the Sakhalin-2 natural gas project in Russia’s far east, the Nikkei newspaper said, after President Vladimir Putin signed a decree transferring rights to a new Russian company just over two weeks ago. The decree gave stakeholders a month to say whether they’ll …

The number of total active drilling rigs in the United States rose by 4 this week, according to new data from Baker Hughes published on Friday. The total rig count rose to 756 this week—272 rigs higher than the rig count this time in 2021. Oil rigs in the United …

Maintenance on the Nord Stream 1 pipeline may well persist beyond its scheduled end-date next week but will likely resume operations by the end of next month, analysts said on Wednesday. The key gas conduit – between Russia and Germany – began 10 days of annual maintenance on Monday, but …

OPEC expects global oil demand to rise in 2023 but at a slower pace than 2022, the producer group said in its first forecast for next year, citing still-robust economic growth and progress in containing COVID-19 in China. In a monthly report on Tuesday, the Organisation of the Petroleum Exporting …

Germany will stop buying Russian coal on 1 August and Russian oil on 31 December, Deputy Finance Minister Jörg Kukies said at a conference in Sydney, Reuters reported. Kukies said the key challenge going forward will be filling the huge gap that will remain when the European Union gives up …

Japan may ask households and businesses to cut back on natural gas use on the back of concerns that increase in global competition for the precious fuel will disrupt stable supply. A panel within Japan’s trade ministry called for discussion to create a framework that would allow the government to …

In June, the European Union imported more liquefied natural gas from the United States than pipeline gas from Russia for the first time ever. The unprecedented shift came as the EU scrambled to fill up its gas storage facilities ahead of the next heating season in fear Russia could turn …

India’s oil imports from Russia surged to a record of around 950,000 barrels per day (bpd) in June, accounting for nearly a fifth of overall imports by the world’s third largest oil consumer, data provided by trade sources showed. Indian refiners have been snapping up Russian oil sold at hefty …

French Economy and Finance Minister Bruno Le Maire on Sunday warned there is a strong chance that Moscow will totally halt natural gas supplies to Europe, Politico reported. “Let’s prepare for a total cut-off of Russian gas; Today that is the most likely option,” Le Maire told the Rencontres Economiques, …

Norway approved plans on Friday for three gas field developments that will further increase production from the Norwegian Continental Shelf in the short to medium term. The move comes days after Norway’s authorities approved applications from operators to boost production from several operating gas fields, the Norwegian Ministry of Petroleum …