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Oil prices increased on Thursday, supported by a drop in US crude oil inventories easing demand concerns. International benchmark Brent crude was trading at $102.71 per barrel at 08.45 a.m. local time (0545 GMT) for a 1.02% increase after closing at $101.67 a barrel in previous trade. American benchmark West …

Germany is thinking about delaying the shutdown of the country’s remaining three nuclear plants as Russia continues to reduce natural-gas supply to Europe’s top economy. “The economy minister has commissioned an intensified worst-case scenario calculation. Let’s have a look at that,” said German Chancellor Olaf Scholz on Friday, Bloomberg reported. …

Europe’s energy efficiency plan to combat the bloc’s energy crisis and secure sufficient gas supplies ahead of the winter cannot exclude gas flow from Russia in order to fill up gas storage. Natural gas storage has become an important tool in alleviating the energy crisis, which has escalated since the …

Turkey plans to purchase more oil and gas from Iran amid greater energy needs and developing ties between the two countries, President Recep Tayyip Erdogan has announced. Making the remarks in an interview with the state-owned broadcaster, TRT Haber, on Monday, Erdogan said: “Turkey will increase its purchases of oil …

Russian Gazprom is reducing daily gas deliveries to Italian Eni company by almost 20.6 percent, Trend reports with reference to Eni. “Gazprom informed it will deliver gas volumes for approximately 27 million cubic meters today, compared to daily deliveries of approximately 34 million cubic meters made in recent days. Eni …

Turkey will resume gas exploration off its coast in the Mediterranean on 9 August, the energy ministry said Tuesday (26 July). “Turkish drilling ship Adbulhamid Han will start a mission in the Mediterranean on 9 August departing from the Mersin port” in the south of the country, it said in …

EU energy ministers gather in Brussels on Tuesday (26 July) for a special council meeting, with several countries aiming to water down the EU Commission’s winter emergency gas plan. Some member states are hoping to soften the bloc’s plan to require them to use less gas over winter, as Europe …

When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas (LNG) to offset shortages from Russia’s invasion of Ukraine, his pledge was greeted with scepticism. After all, the U.S. LNG industry was already hitting its export limits and the …

According to SeeNews, Azerbaijan is ready to supply to Bulgaria 0.5 – 1 billion m3 (bcm) of natural gas per year in addition to the amount of 1 bcm it has already agreed to deliver, outgoing Bulgarian prime minister Kiril Petkov said. Azerbaijan’s state-owned oil and gas company Socar has …

The European Union’s proposal to countries to reduce gas demand by 15% will not be enough to survive the winter in the face of continued cuts in Russian gas supplies. This was stated by the Minister of the environment of Ireland, Eamon Ryan, Reuters reported. Fifteen percent will probably not …