Top News

Russian gas company Novatek is open to accepting payments in Indian rupees for any LNG term deal it signs with Indian gas entities, its chairman Leonid Mikhelson said on the sidelines of the Indian Energy Week on Feb. 6. Novatek is in talks with state-owned gas utility GAIL and other …

BP has reignited the row over the vast scale of energy company money making since the start of the Ukraine war when it reported record profits of £23 billion last year. The figures come days after Shell revealed it made £32.2 billion meaning that Britain’s two biggest oil and gas …

Turkey has halted crude-oil flows to the Ceyhan export terminal on the Mediterranean coast as a precaution following a devastating earthquake, according to an official with knowledge of the matter. State pipeline operator Botas made the decision on Monday morning after an earthquake in eastern Turkey, which was followed hours …

Oil prices rose in morning trade on Tuesday amid signs that China’s economic recovery is boosting crude demand. Brent, the benchmark for two thirds of the world’s oil, was 1.46 per cent higher at $82.17 a barrel at 10.39am UAE time while West Texas Intermediate, the gauge that tracks US …

Official Tokyo has joined the ceiling of prices for petroleum products from Russia introduced by the European Union, the Ministry of Foreign Affairs of Japan reported. The limit is being introduced “in connection with the current situation in Ukraine and as a contribution to international efforts being made to solve …

OPEC Secretary General Haitham Al Ghais said on Monday the collective decision to cut output in October was the right move and added that credit should be given to the OPEC+ alliance for its constructive role in supporting global market stability. “Due recognition should be given for our constructive and …

The Iranian Foreign Ministry rejected a statement released by the European troika and the US about the Fordow nuclear facility, saying Iran has already informed the IAEA about all uranium enrichment activities in the site. Foreign Ministry Spokesman Nasser Kanaani on Sunday dismissed a statement from the European troika –France, …

China’s economy could be poised for a stronger-than-anticipated rebound that’ll deliver a demand boost for oil and natural gas, according to the head of the International Energy Agency. There are some “first indications” from China that growth will accelerate faster than previous expectations and the nation is projected to deliver …

Crude oil could soon swing into a deficit that will make next year a difficult one, Goldman Sachs said, as spare production capacity dwindles and underinvestment threatens future supply. Speaking on the sidelines of an event in Saudi Arabia, Goldman’s top commodity analyst Jeffrey Currie said, as quoted by Bloomberg, …

Saudi energy minister Prince Abdulaziz bin Salman said Feb. 4 the kingdom was waiting for clearer signs of rising oil demand before committing to hike crude production with its OPEC+ counterparts, while also warning that western sanctions on Russia would lead to supply shortages. China’s reopening and encouraging economic data …