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Following Thursday’s report that Russia threatened to cut the flow of gas to Finland, Russia—through its entity RAO, will suspend imports of electricity to Finland as of 1:00 a.m. on Saturday, May 14, Fingrid said on Friday in a statement on its website. The Finnish transmission system operator, Fingrid, claims …

Oil prices rose by about 4 percent on Friday as U.S. gasoline prices jumped to a record high and investors worried supplies will tighten on the tit-for-tat sanctions between European Union and Russia. Brent futures rose by $4.10, or 3.8 percent, to settle at $111.55 a barrel. U.S. West Texas …

Renewable power capacity additions are set to remain stable next year compared to 2022 unless new and stronger policies are adopted soon, the International Energy Agency (IEA) said in a new report on Wednesday. After a record year for renewable power installations in 2021, renewable capacity is expected to further …

Ten more European buyers of Russian gas have opened accounts at Russia’s Gazprombank, designated by Vladimir Putin to process the ruble-for-gas payments that he demands from now on, a source close to Russia’s gas giant Gazprom told Bloomberg on Thursday. So far, 20 companies from Europe have already opened accounts …

OPEC on Thursday cut its forecast for growth in world oil demand in 2022 for a second straight month, citing the impact of Russia’s attack on Ukraine, rising inflation and the resurgence of the Omicron coronavirus variant in China. In a monthly report, the Organisation of the Petroleum Exporting Countries …

Germany said Russia is using energy as a “weapon” after Moscow reduced natural gas supplies in retaliation for Europe’s penalties over the war in Ukraine. A unit of Gazprom PJSC that was seized by Germany has had its deliveries reduced by about 10 million cubic meters a day, according to …

French energy major TotalEnergies has started construction of the Eolmed project, operated by Qair and in which TotalEnergies has a 20 percent stake. This 30 MW project is located some 12 miles off the coast of Gruissan and Port la Nouvelle. The start of production is expected by 2024. The …

China has pledged to inject 10 billion yuan ($1.5 billion) into its coal-fired power firms to provide financial relief and support their efforts to guarantee power supplies, state media said late on Wednesday, citing a cabinet meeting. The new funding was part of a wider package of policies announced by …

Czech state fuel distributor Čepro is ready to build a liquefied natural gas (LNG) terminal in the country so gas could be transported from the Baltics by train. In the future, ship transport is also possible if the navigability of the Elbe River is resolved. Planned LNG transhipment facility is …

Saudi Aramco has dethroned Apple as the world’s most valuable company as surging oil prices drive up shares and tech stocks slump. The Saudi Arabian national petroleum and natural gas company, billed as the largest oil producing company in the world, was valued at $2.42 trillion based on the price …