International

The Nord Stream 2 gas pipeline should not be singled out and viewed “in isolation” given Europe’s continued need for all sources of gas supply, the head of Austria’s OMV said Feb. 3. Speaking after OMV released its fourth quarter results, CEO Alfred Stern said European gas demand would remain …

Qatar, one of the world’s top natural gas exporters, will not be able to unilaterally replace Europe’s energy needs in case of a shortage due to the crisis between Russia and Ukraine, the emirate’s minister of state for energy said on Tuesday, February 1. “The volume of gas needed by …

China plans to launch by 2025 a unified nationwide power market system to ensure grid flexibility and stability and avoid a repeat of the energy crisis in the autumn of 2021. The power market trading system will see provincial and regional markets cooperate, which would improve cross-provincial and cross-regional market …

Concerned about Europe’s energy vulnerability, the head of NATO said the continent needs to diversify its energy supplies on Sunday. Britain warned it was “highly likely” that Russia, a major natural gas supplier, wanted to invade Ukraine. Russia has massed some 120,000 troops near its neighbor and demanded the western …

European officials are scrambling to lock down energy supplies they would need to keep their economies churning if hostilities around Ukraine imperil natural gas piped from Russia, and have turned to the U.S. for help finding backup sources beyond Moscow’s control. In recent weeks, as Russia has positioned more than …

European Commission President Ursula von der Leyen and US President Joe Biden pledged on Friday (28 January) to cooperate on guaranteeing Europe’s and Ukraine’s energy security amid a standoff triggered by Russia amassing troops at Ukraine’s border. In a joint statement put out on Friday – the result of several …

Venezuela appears to be following in Iran’s footsteps by starting to ignore U.S. sanctions on its oil industry to once again develop its substantial crude reserves. After years of stalling and losing out on international investment as well as vital revenues, Venezuela looks to be set to increase its oil …

On Tuesday, Biden press secretary Jen Psaki told reporters that the Biden administration was “working to identify additional volumes of gas” for Europe from North Africa, the Middle East, Asia and the United States in the event of a drop in Russian supplies amid the Ukraine crisis. Qatar has little …

The U.S. Administration is in talks with energy companies and major gas-producing countries globally about the potential for a large supply of natural gas to Europe in case Russian deliveries are interrupted if Russia invades Ukraine, U.S. officials with knowledge of the talks told CNN. Russia, which supplies over one-third …

Despite a crude oil inventory build in the latest EIA report, U.S. commercial petroleum stocks have declined in most of the weeks in the past year and a half, falling below seasonal averages for the past five years and even below the five-year average before the pandemic. The continuously declining …