Top News

Shell Plc will take key processing units offline, as part of major maintenance that’s due to start at Europe’s biggest oil refinery in the coming days. Work at Pernis in Rotterdam will include two so-called high-vacuum units, according to a person familiar with the plans. These produce feedstock for units …

Turkey is undergoing massive power cuts to industrial customers this week at an unprecedented level never seen before after the country’s natural gas supplies dipped following a disruption of imports from Iran. Major industrial zones and clusters and major production sites, including those of foreign car manufacturers, are being hit …

Iraq is already scheduling crude oil shipments for delivery in March thanks to strong demand, the deputy head of the State Organization for the Marketing of Oil, or SOMO, told media in Baghdad, as quoted by Reuters. Ali Nizar also told media that Iraq’s oil exports were stable this month …

The U.S. Administration is in talks with energy companies and major gas-producing countries globally about the potential for a large supply of natural gas to Europe in case Russian deliveries are interrupted if Russia invades Ukraine, U.S. officials with knowledge of the talks told CNN. Russia, which supplies over one-third …

Despite a crude oil inventory build in the latest EIA report, U.S. commercial petroleum stocks have declined in most of the weeks in the past year and a half, falling below seasonal averages for the past five years and even below the five-year average before the pandemic. The continuously declining …

The Russian-Chinese talks on supplies of gas from Russia’s Far East to China have reached a “high degree of readiness,” Russian Ambassador to China Andrey Denisov said at a news conference on Tuesday. He said that the project to deliver Russian natural gas to China via Mongolia was not the …

Brent oil may retest a support at $85.68 per barrel, a break below could open the way towards $83.04-$84.67 range. There is a strong resistance at $89, which still holds firm under four attacks by bulls. A temporary top may have formed around this level. Due to the slide below …

The oil market is running out of sellers in its surge to almost $90 a barrel. Whether it’s speculators, traders hedging their barrels in storage tanks or U.S. producers, some of the biggest drivers of bearish price movements have all retreated in recent months. As global stockpiles fall to seven-year …

The European Union is in talks with its trading partners in search of viable options to increase supplies of natural gas to its member states, according to the bloc’s Energy Commissioner Kadri Simson. “The gas storage levels in the EU are significantly lower than usual at this time of the …

Major Chinese liquefied natural gas (LNG) importers are now offering to resell some cargoes on the spot market this year, suggesting that China has stocked up more than enough to see it through the winter and easing concerns about the global gas crunch. Natural gas prices fell on Wednesday and …