International

The US is seeking to ease oil sanctions on Venezuela as part of a broader US strategy to temper oil prices that have skyrocketed due to Russia’s operation in Ukraine, according to people familiar with the matter. US and Venezuelan officials discussed the possibility of easing oil sanctions on Venezuela …

The German state bank KfW and the Dutch utility Gasunie have signed a memorandum of understanding (MoU) on the construction of the first LNG terminal in Brunsbüttel, Germany. Citing the important role of gas as a transition fuel, Germany’s Minister for Energy and Climate Protection Habeck said the goal was …

Saudi Arabia raised oil prices for all regions after crude surged following Russia’s military offensive in Ukraine to more than $115 a barrel. State-controlled Saudi Aramco increased its Arab Light crude price for next month’s shipments to Asia to $4.95 a barrel above the benchmark it uses. That is an …

Asian governments are taking measures to soften the impact of escalating oil and LNG prices on their economies and help consumers with subsidies and tax cuts. However, such measures probably won’t be sufficient to offset the sharp increase in energy prices, which is adding to inflationary pressures. Brent crude oil …

For years, the U.S. warned Germany of building up a dangerous energy dependence on Russia, the source of more than half of its fossil fuel imports. Now that the war in Ukraine has shocked Berlin into the same conclusion, the government is finding that changing course might be too late. …

Russia’s major oil and natural gas companies saw their stock values nosedive on foreign exchanges during the past week amid the war in Ukraine, unlike their western peers, despite record-high energy prices. Oil and natural gas prices climbed this week to their highest level in more than a decade with …

OPEC+ is widely expected to continue raising its overall production quota by 400,000 barrels per day (bpd) per the plan from last summer, despite the surging oil prices over the Russian invasion of Ukraine, a Bloomberg survey of 18 analysts and traders showed on Tuesday. The OPEC+ group—led by Saudi …

As the conflict in Ukraine continues, several African states could stand to benefit from rising oil prices as many countries look to develop their burgeoning oil sectors. With Big Oil eying several African countries as potential development areas for low-cost, low-carbon oil, this could be the opportunity they have been …

State-run Indian refiner Bharat Petroleum Corp is seeking extra oil from Middle Eastern producers for April, fearing Western sanctions against Russia could hit deliveries of Urals crude, a source familiar with the matter said. BPCL, India’s second biggest state refiner, on average buys two million barrels of Russian Urals every …

Germany’s Federal Maritime and Hydrographic Agency (BSH) has launched the participation procedure for the German continental shelf section of the Hansa PowerBridge subsea cable project. BSH is now accepting submissions from public interest representatives as part of the participation procedure for the 300 kV cross-border submarine cable between Germany and …