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Italian Minister for Ecological Transition Roberto Cingolani said the European Union should introduce a cap on gas prices for exporters across the board as targeting Russia’s dwindling gas exports to Europe “makes no sense.” “Capping only Russian gas makes no sense. It is currently delivered to Europe in very small …

Türkiye has been affected by the energy crisis, yet in contrast to Europe, it is not expected to face any disruptions this winter as long as gas suppliers follow through on their pledges, the country’s energy chief said on Saturday. Fears in Europe have increased over a potentially bleak winter …

India says Russian oil now accounts for 12% of its overall purchases of the commodity, with the ratio surging six-fold in the past few months, as Asia’s third-largest economy seeks to slow inflation back to target. “We speedily ramped up Russian oil imports from 2% to 12%,” Finance Minster Nirmala …

In response to a growing clamour among the G7 nations to cap the price of crude oil imports from Russia, Moscow has told New Delhi it is willing to provide oil at lower prices than before to India, officials said. “In principle, the ask in return is that India should …

Germany is increasingly getting vital chemicals from abroad as the country’s industrial giants like BASF SE struggle with sky-rocketing energy prices from Russian gas cuts. Chemical import volumes have almost doubled this year as the crisis deepened. Germany imported around 2.8 billion tonnes of inorganic chemicals in the first half …

Meaningful reform in the European Union has historically taken a crisis, and this winter seems ripe for energy policy. As with the euro crisis a decade ago, though, a quick political compromise could risk leaving the job half done. The EU’s energy ministers held an emergency meeting Friday to agree …

The value of Iran’s non-oil trade with member states of the Shanghai Cooperation Organization (SCO) has increased by 31 percent in the first five months of the current Iranian calendar year (March 21-August 22), according to the spokesman of the Islamic Republic of Iran Customs Administration (IRICA). Ruhollah Latifi said …

The Energy Information Administration (EIA) Data showed that Iraq exported 222 bpd of oil to the United States in the past week. EIA stated in a report, “U.S. imports oil 5.782 million bpd in the past week.” The top three source countries for U.S. import oil are Canada (3.538 million …

Russia’s gas giant Gazprom is set to rake in 85% higher revenues this year, to around $100 billion, as natural gas prices surged following the Russian invasion of Ukraine and the significant cut to Russian pipeline gas exports to Europe, an analyst told the Financial Times on Friday. By choking …

The European Central Bank will not give short-term financing to European energy firms struggling through the energy crisis, sky-high prices, and margin calls on the derivatives markets, ECB President Christine Lagarde said on Friday. “As far as the ECB is concerned, and the national central banks of the Eurosystem, of …