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The high energy prices are wreaking havoc with the world economy and it’s unlikely we can expect any reversal of fortune in the near future. And with the recent explosion of the Russian-based Nord Stream 1 and 2 natural gas pipelines in the Baltic Sea earlier this week, the energy …

The UAE on Friday slashed retail fuel prices by 38 fils per litre for the month of October in line with the drop in global rates. This is the third consecutive month that the UAE has slashed retail fuel prices. In October, the prices were slashed by 62 fils per …

Liquefied natural gas from the United States has turned into a lifebelt for struggling Europe as Russia cut supplies via one of the biggest gas conduits into the continent. U.S. LNG will continue to play a crucial role in Europe’s gas supply. But it won’t be enough to avoid a …

Several major producers of the OPEC+ alliance have started talks about a potential oil production cut ahead of the regular monthly OPEC+ meeting on October 5, OPEC and OPEC+ sources told Reuters on Thursday. OPEC+ meets next Wednesday to discuss the market and fundamentals situation as oil prices have fallen …

Iranian Oil Minister Javad Owji says Iran and Japan should work to expand their economic cooperation regardless of the sanctions in place against the Islamic Republic, adding Tehran can play a major role in fulfilling the East Asian state’s energy needs. Paying an official visit to Tokyo, Owji held a …

The European Union on Wednesday (28 September) promised a “robust” response to any intentional disruption of its energy infrastructure after saying it suspected sabotage was behind gas leaks discovered this week on subsea Russian pipelines to Europe. As gas spewed out under the Baltic Sea for a third day after …

The forecast for a colder-than-usual winter in South Korea is set to intensify the concerns over gas supply for power generation, industry sources told S&P Global Commodity Insights over the week of Sept. 29. The country has predicted a colder winter this year amid La Nina that has stretched into …

The European Commission has joined industry leaders to set a biomethane use target, Trend reports via the Commission. The Biomethane Industrial Partnership (BIP) was announced in the REPowerEU Plan and aims to support the achievement of the target to increase annual production and use of biomethane to 35 billion cubic …

Norway will beef up its security at its oil and gas installations after three explosions rocked the Nord stream 1 & 2 pipelines, the country’s oil and energy minister said on Tuesday. Germany’s economy minister also offered words of strength on Tuesday, saying that it knows how to—and can—defend its …

On September 10, a ship docked at the German port of Hamburg carrying a little-known fuel that’s being billed as a potential clean answer to Europe’s energy woes: blue ammonia. Made from hydrogen, it can also be burned without producing any emissions of planet-warming carbon dioxide and has the advantage …