International

Escalating tensions between major global food suppliers Russia and Ukraine are likely to force wheat, corn, and sunflower oil buyers to seek alternative shipments, Reuters reported on Tuesday, citing analysts and traders. The disruption could drive up world food prices which are already near multi-year highs, experts warn. The two …

Germany has moved ahead to block the €9.5bn Nord Stream 2 pipeline amid the growing military tensions between Russia and Ukraine. In a blow to the gas pipeline project, German Chancellor Olaf Scholz has suspended its certification process after Moscow announced recognition of the independence of Donetsk and Luhansk in …

Germany said Tuesday it will halt the certification of the Nord Stream 2 gas pipeline designed to bring natural gas from Russia directly to Europe after President Putin recognized breakaway regions in east Ukraine and said Russian troops would move into the area to act as peacekeepers. Germany’s Chancellor Olaf …

Russian liquefied natural gas will remain an important factor to support energy security of the Asia-Pacific Region for coming decades, chief executive of Shell in Russia Ekaterina Grushetskaya told TASS. “Forecast indicators contained in the Shell’s report on LNG global market development prospects posted today will certainly be a good …

OPEC+ compliance with oil production cuts rose to 129% in January, a source from the producer group told Reuters, indicating that some members continue to struggle to raise their output. The January figure compares with 122% in December, and 117% in November. Compliance from members of the Organization of the …

Geopolitical tension in Eurasia has ruffled financial markets in recent weeks and contributed to the almost 20 per cent increase in oil prices since the start of 2022. In addition, oil markets are expected to remain relatively tight in the first quarter of this year, as supply is only gradually …

As many as 35 major cyberattacks on energy and oil infrastructure have taken place since 2017, making up one-third of all cyberattack incidents of the past five years, data from the S&P Global Platts Oil Security Sentinel research project showed on Friday. Since 2017, the U.S. has been the most …

The U.S. added seven rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on December 10. The additions comprised six land rigs and one offshore rig, Baker Hughes’ count showed. They take the country’s total rig count up to 576, comprising 560 land rigs, …

China will help run its coal-fired power plants at full capacity in a bid to ensure energy security, despite the climate goals of the world’s largest polluter. The Chinese government will support industrial sectors in “special difficulty,” state news agency Xinhua reported this week, noting that “Food and energy security …

The Kurdish Parliament said that the Federal Court’s decision regarding the oil and gas law is a “serious blow to the Iraqi federal system and the rights of citizenship.” In a statement, the Parliament confirmed that the Federal Court’s decision “violates the foundations of the federal system and the Iraqi …