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Europe faces the risk of blackouts, rationing and a severe recession if Russia further slashes gas deliveries, and the next reality check is at hand. A three-day halt of the Nord Stream pipeline — a key source of natural gas for the European Union — starts on Wednesday, and concerns …

Russian energy giant Gazprom on Wednesday cuts off its gas supplies to Germany via the Nord Stream 1 pipeline for maintenance work, further raising tensions on an already taut electricity market. The three-day works at a compressor station are “necessary”, Gazprom has said, adding that they had to be carried …

Oil prices recovered slightly on Wednesday as data pointed to firm fuel demand in the US, providing respite after a 5% drop a day earlier on fear of demand suffering from increased China Covid-19 curbs and central bank interest rate hikes. A slightly weaker US dollar also shored up the …

Minister of Energy of Bulgaria Rosen Hristov held phone talks with his Azerbaijani counterpart Parviz Shahbazov, Trend reports via the ministry. According to the ministry, the parties discussed the timing of the start of commercial supplies of Azerbaijani gas to Bulgaria via the Interconnector Greece-Bulgaria (IGB). “Shahbazov noted that from …

As a result of Russian gas supply cuts, Europe may face several winters of gas shortages, according to Shell chief executive Ben van Beurden. Van Beurden also warned that Russia’s tightening grip on gas supplies to Europe might cause high power bills and electricity rationing this winter. Russian gas supply …

Türkiye’s oil imports jumped, while natural gas purchases fell in June versus a year ago, the country’s energy watchdog said Tuesday. The total oil imports were up 4.9% to 4.19 million tons in June, the Energy Market Regulatory Authority (EPDK) said in its monthly report. Crude oil imports, the category …

French utility Engie announced that Russian energy giant Gazprom will reduce gas deliveries as of today over a contract disagreement. The company did not specify the reason for the dispute, but did say it “had already secured the volumes necessary to meet its commitment towards its customers and its own …

Shipping major Mitsui OSK Lines (MOL) on August 30 launched the second of Japan’s first two LNG-fuelled ferries. The ceremony was held at the Enoura plant of Mitsubishi Heavy Industries. The vessel, named Sunflower Murasaki, was ordered from Mitsubishi Shipbuilding Co. and will be delivered in March 2023. It is …

Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global economic slowdown and soften fuel demand. Brent crude futures for October settlement dropped 81c, or 0.7%, to $104.28 a barrel …

With winter just around the corner, Germany has been desperately trying to fill up its gas reserves. On Sunday, the German Vice-Chancellor confirmed that the reserves were filling up quickly, easing fears of households not having access to heating in the coming months. German gas reserves target set to be …