Europe still contends with China for the title of top buyer of Gazprom PJSC’s pipeline gas, more than two years after Russia’s invasion of Ukraine slashed its western energy sales. This situation reflects both the Kremlin’s successes and failures. Even after many rounds of international sanctions, Russia still supplies substantial …
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U.S. sanctions have proven successful in suspending production at Arctic LNG 2 and delaying the expansion of the project, according to a U.S. State Department official. “Putin hoped to ramp up output from Arctic LNG 2 during the first quarter of 2024 but has been unable to load even one …
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Morgan Stanley has forecasted that the crude oil market, currently experiencing tight conditions, will likely move into surplus next year as the investment bank anticipates that oil prices will drop to the mid-to-high $70s range by 2025. Morgan Stanley said that the tight market conditions are expected to persist for …
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Iraq aims to utilize 70 million cubic feet per day (mmcfd) of associated gas from the Bazerkan field for power generation, targeting 250 megawatts (MW) of capacity, the Oil Ministry said on Monday. “The ministry is expediting investment in associated gas from the Bazerkan oil operations to support the power …
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Gulf Cooperation Council (GCC) economies will grow at a considerably slower clip in the current year due to the ongoing oil production cuts, with Saudi Arabia’s economy among the hardest hit, a Reuters poll of economists has predicted. A poll of 24 economists taken July 8-22 has predicted that Saudi …
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OPEC+ delegates expect the group’s monitoring session next month to be routine, making no changes to plans for a supply hike starting in the fourth quarter. The group led by Saudi Arabia and Russia agreed last month to begin gradually restoring roughly 2.2mn barrels a day of halted crude output …
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Kazakhstan is pressing ahead with Uzbekistan and Azerbaijan to develop electricity export capacity, even as Astana faces challenges in securing the power needed to fuel domestic economic growth. The Kazakh Ministry of Energy has published for public comment a draft agreement on its strategic green-energy partnership with Azerbaijan and Uzbekistan. …
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Turkey has said it is prepared to significantly increase natural gas exports to the European Union, desperate to further wean itself off Russian gas, but it won’t be easy or cheap: In order to do that, the most likely route is to re-export Azeri natural gas from Turkey. That, in …
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King Charles announced no fewer than 40 government bills in his traditional speech to mark the State Opening of Parliament. From establishing a new wealth fund, to charging VAT on private schools, to radical changes to the planning process, the King’s Speech was heavy on big, headline-grabbing policies that will …
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The European Parliament’s endorsement on July 18 of German Ursula von der Leyen for a second five-year term as president of the European Commission marks a bid for continuity in the EU’s executive branch with a seasoned politician whose European tenure has been inextricably bound to the fortunes of the …
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