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Gazprom PJSC said it will shift its contract to supply gas to China to rubles and yuan from euros, as the Kremlin steps up efforts to move trade out of currencies it considers “unfriendly” amid US and European sanctions. The state-run gas giant signed an additional agreement to its existing …

Oil prices fell more than $1 on Wednesday to their lowest since before Russia invaded Ukraine as Covid-19 curbs in top crude importer China and expectations of more interest rate hikes spurred worries of a global economic recession and lower fuel demand. Brent crude futures fell $1.35, or 1.5%, to …

Russia is ready to cooperate with the International Atomic Energy Agency (IAEA) in the provision of the security of the Zaporizhzhya Nuclear Power Plant, and permanent work of the IAEA mission at that site is important, head of the Russian Rosatom state nuclear energy corporation Alexei Likhachev told Interfax on …

Liz Truss, the Conservative candidate who won the race to be the UK’s next prime minister, has been considering plans in recent days to spend $150 billion (£130 billion) over the next year and a half to freeze household energy bills at their current levels, officials and advisers to Truss …

OPEC+ reversed on Monday this month’s increase in oil production targets and cut the group’s collective quota by 100,000 barrels per day (bpd) for the month of October. While the move is totally negligible in terms of actual supply to the market, considering not only the slight change in the …

The Russian war in Ukraine has sent a devastating domino effect rippling through the global economy that has left nations across the world wirth devastating energy shortages right as the hard-hit northern hemisphere prepares for the cold winter months. While Europe has been trying to wean itself off of Russian …

The leadership of the European Union has been hard at work these days, trying to find a lasting solution to an energy crisis that is worsening by the day. Yet the way they are approaching the solution is unlikely to produce any lasting results. And so far, it has been …

Saudi Arabia cut oil prices for customers in Asia and Europe as coronavirus lockdowns and sagging economies cool energy demand in the two regions. State-controlled Saudi Aramco lowered its key Arab Light grade for next month’s shipments to Asian refineries from a record to $5.85 a barrel above the Middle …

Russia’s foreign ministry said on Tuesday that the United States had fomented Europe’s gas supply crisis by pushing European leaders towards the “suicidal” step of cutting economic and energy cooperation with Moscow. Europe is facing its worst gas supply crisis ever, with energy prices soaring and German importers even discussing …

France has come out in favor of imposing an EU-wide price cap on gas supply from Russia and a windfall tax on excess energy profits as Europe looks to reign in sky-high energy costs and respond to provocations from Moscow. European leaders are fighting to contain an energy crisis that …