Top News

France’s nuclear power plants are undergoing repairs and extended outages, leading to a 25% decrease in nuclear power plant output this winter, an analysis from Baringa Partners LLP said, according to Bloomberg. France, Europe’s largest power exporter, could be left scrambling to import power this winter. France typically sends power …

The number of total active drilling rigs in the United States rose by 9 this week, on top of the 7 rig increase in the week prior, according to new data from Baker Hughes published on Friday. The total rig count increased to 714 this week—261 rigs higher than the …

Managing director of the National Iranian Oil Company (NIOC) and top managers of Russia’s Gazprom Company emphasized here on Friday to expand cooperation in energy field. The agreement was signed in a meeting between NIOC Managing Director Mohsen Khojastehmehr and top managers of Russia’s Gazprom on the sidelines of the …

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 …