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U.S. benchmark natural gas prices jumped to above $9 per million British thermal units (MMBtu) early on Wednesday, driven by high LNG exports, warmer weather, and volatile trade ahead of the prompt-month contract expiry. As of 9:15 a.m. EST on Wednesday, the front-month natural gas futures at the Henry Hub, …

Equinor ASA has transferred its participating interests in four Russian joint ventures to Rosneft and is released from all future commitments and obligations, the company said in a release May 25. An agreement to exit the Kharyaga project has also been signed. Equinor began the exit process in late February …

Norwegian oil and gas giant Equinor has made a new oil discovery in Snøfonn Nord with the exploration well 7220/8-2 S, located by the Johan Castberg field development in the Barents Sea. This proximity to the current project development enables the tieback option, which will be considered by Equinor and …

Nearly 62 million barrels of Russia’s flagship Urals crude oil, a record amount, are currently in tankers at sea, according to data from energy analytics firm Vortexa, as cited by Reuters. However, traders are reportedly struggling to find buyers for some of the cargo as EU countries fail to agree …

The spokesman for the Atomic Energy Organization of Iran (AEOI) says the organization is in talks with Russia over the development of Iran’s Bushehr nuclear power plant. AEOI spokesman Behrouz Kamalvandi said on Wednesday that Iran and Russia had good bilateral relations, including in the nuclear field, and were negotiating …

Saudi Arabia’s foreign minister said there’s nothing more the kingdom can do to tame oil markets, implying that the world’s biggest crude exporter has no plan to accelerate its gradual production increases. “As far as we are aware there is no shortfall of oil,” Prince Faisal bin Farhan said, speaking …

Natural gas buyers in Asia and Europe are seeking to lock in supplies via long-term contracts as a buffer against volatile global prices, industry executives said, in moves that will reverse the last decade’s trend of increasing spot purchases. Fears of disruptions in Russian gas to Europe and low inventories …

European energy companies appear to have bent to Russian President Vladimir Putin’s demand that they purchase natural gas using an elaborate new payment system, a concession that avoids more gas shut-offs and also gives Putin a public relations victory while continuing to fund his war effort in Ukraine. The system, …

Representatives of Turkish companies that purchase oil and fat products in Russia expect supplies of such products to remain at a high level this year, the Russian Agriculture Ministry’s Agroexport Center said. “Representatives of Turkish companies, most of which already work with Russia, are confident that the quantity of supplies …

European Commission President Ursula von der Leyen has ruled out reaching an EU-wide agreement on banning Russian oil imports at next week’s European Council summit. In an interview with POLITICO on the sidelines of the World Economic Forum in Davos, von der Leyen said she did not want to raise …