International

US President Joe Biden warned Tuesday that there will be “consequences” for Saudi Arabia after Riyadh threw its weight behind a production cut by the oil cartel OPEC+ which has sent prices soaring. “There’s going to be some consequences for what they’ve done with Russia,” Biden said in an interview …

India maintains a “healthy dialogue” with Russia and will look at what is offered following an announced ownership revamp to the Sakhalin-1 oil and gas project, Petroleum Minister Hardeep Singh Puri has told the Reuters news agency. Russia last week issued a decree allowing it to seize Exxon Mobil’s 30 …

Germany is set to soon unveil measures to alleviate the impact of soaring energy prices on consumers, with steps likely to include a one-off payment and subsidizing more than half of the expected gas consumption, sources close to the talks at the German expert commission told Reuters on Monday. The …

Russian President Vladimir Putin has signed a decree to transfer operations of the Sakhalin-1 oil and gas project in the Russian Far East to a new operator, reported Bloomberg News. The move would result in American energy firm Exxon Mobil’s final withdrawal from Russia and would give authority to the …

Saudi Aramco has told at least seven customers in Asia they will receive full contract volumes of crude oil in November ahead of the peak winter season, several sources with knowledge of the matter said on Monday (Oct 10). The producer is keeping supplies to Asia steady despite likely production …

China’s power generation capacity has increased by more than 70 percent compared to 2012, including a 700 percent increase in clean energy generators, according to a National Bureau of Statistics report on the green and low-carbon transition of the energy sector in the past decade. In 2021, China generated 8.5 …

Russian President Vladimir Putin on Friday, October 7, signed a decree that creates a new operator for the Exxon Mobil Corporation-led Sakhalin-1 oil and gas project in Russia’s Far East. Putin’s move affecting Exxon’s largest investment in Russia mimics a strategy he used to seize control of other energy properties …

The Minister of Oil and Gas, Mohammed Aoun, has stated that a new gas pipeline parallel to the existing one, could be extended to Italy, within four to six months, noting that Libya exports about 250 to 300 million cubic feet of gas to Italy per day. “There are huge …

The world’s largest crude oil exporter, Saudi Arabia, left the official selling price of its flagship Arab Light grade unchanged for November loadings compared to October, sources familiar with the latest pricing told Reuters on Thursday. Saudi Arabia’s Arab Light will sell in November to Asia at a premium of …

The European Union needs to quickly intervene in its gas and energy markets, including by imposing a price cap on wholesale gas, to avoid a spiral of deindustrialization and social unrest amid sky-high energy prices, Belgium’s Prime Minister Alexander De Croo told the Financial Times in comments published on Thursday. …