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Crude oil prices rose on Friday by 3% despite fears of a global recession which has pervaded the oil price narrative in recent weeks, weighing on prices. Friday’s price rise was precipitated not by bullish production or supply outages nor by any significant demand outlook increases. At 11:45 a.m. ET, …

The newest nuclear reactor in Europe, the Olkiluoto 3 plant unit (OL3), exceeded the landmark 1,000-megawatt power mark on Friday, easing the strain on Finland’s electricity grid, Bloomberg reports. The unit, which became earlier this week the single largest electricity generation unit in Finland by capacity when it was raised …

The link between energy production and water is of crucial importance and we need to value the latter resource far more going forward, according to the CEO of a leading gas infrastructure firm. The comments from Snam CEO Stefano Venier come at a time when the interconnection between water and …

State energy giants Gazprom and China National Petroleum Corporation (CNPC) signed several agreements on Tuesday, including on the use Russian roubles and Chinese yuan to pay for Russian natural gas supplies to China, Gazprom said. The agreements were in addition to a February deal between them to increase gas supplies …

China is lapping up liquefied natural gas shipments from Russia on the cheap. The Sakhalin-2 LNG export plant in Russia’s Far East sold several shipments to China for delivery through December at nearly half the current spot price in a tender that closed earlier this week, according to traders with …

Oil prices rose nearly $1 a barrel on Thursday after dropping through key technical support levels in the previous session, as an energy standoff between European nations and Russia focused investor minds on how tight fuel supply may become. Brent crude futures rose by 91 US cents, or 1%, to …

Two floating liquefied natural gas terminals are setting up in a Dutch port, the first in a wave of the specialist tankers that Europe is banking on to ease the worst energy crunch in decades. The Golar Igloo and the Eemshaven LNG are currently berthed together in the northern seaport …

Three months from now, an EU-wide embargo on Russian crude oil imports will kick in, shutting off almost all shipments of the commodity from Russia to Europe. But right now, Europe is importing over 1 million barrels of Russian crude daily and has been doing so for the last month. …

Russian President Vladimir Putin has threatened to retaliate against any move by the European Union to cap the price of Russian gas by halting flows completely and suggesting a deal allowing Ukrainian grain to be exported to world markets could be disrupted. Addressing an economic conference in the Russian Far …

Italy’s Eni has signed a deal to acquire BP’s upstream business in Algeria, including stakes in two gas-producing concessions, for an undisclosed sum. The deal covers BP’s 45.89% stake in the ‘In Amenas’ concession and a 33.15% interest in the ‘In Salah’ concession. Eni expects the acquisition to strengthen its …