NATO follows with “great concern” reports from the Baltic Sea on leaks in the Russian Nord Stream gas pipelines, Secretary-General Jens Stoltenberg said on Tuesday. Stoltenberg asserted that it is “extremely important to get all the facts on the table” and therefore NATO closely monitors the developments. His remarks came …
Read More »Denmark Reports Leak in Russian Nord Stream 2 Offshore Gas Pipeline
Danish authorities reported a gas leak Monday from the defunct Nord Stream 2 pipeline close to the island of Bornholm in the Baltic Sea, according to Interfax news agency. The Danish Maritime Authority has banned all ships from moving within five nautical miles (9.25 kilometers) of the accident site, saying …
Read More »Oil Down as Demand Woes Persist, Strong Dollar Trims Demand
Oil prices declined on Monday over the double whammy of increasing demand woes and the rising dollar value, discouraging investors in the market trading in more expensive US dollar-indexed oil. International benchmark Brent crude traded at $95.12 per barrel at 10.08 a.m. local time (0708 GMT) for a 1.65% decrease …
Read More »Ukraine’s Zelenskyy Calls on UN to Ensure Nuclear Security
Ukraine’s President Volodymyr Zelenskyy on Thursday urged urgent action to ensure the security of Europe’s largest nuclear power plant which is currently under Russian control. Following a meeting with UN Secretary-General Antonio Guterres in the western Ukrainian city of Lviv, Zelenskyy said on Telegram that particular attention was paid to …
Read More »Germany Blames Russia for Reduced Gas Supplies through Nord Stream 1
Germany blamed Russia on Wednesday for reduced gas supplies through the Nord Stream 1 pipeline and dismissed Gazprom’s claim that disruptions were the result of legal and technical problems. Chancellor Olaf Scholz said a gas turbine repaired in Canada has been waiting for transfer at Siemens Energy’s site in western …
Read More »Oil Prices Increase with Ease in Demand Concerns
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 …
Read More »Europe Focuses on Storage to Alleviate Energy Crisis
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 …
Read More »Oil Up as Supply Outages Outweigh Demand Fears
Oil prices edged higher on Monday as output disruptions in Libya and planned shutdowns in Norway offset concerns that an economic slowdown would dampen demand. International benchmark Brent crude was trading at $111.92 per barrel at 0705 GMT for a 0.26% increase after the previous session closed at $111.63 a …
Read More »Iran Receives $1.6B in Gas Debt from Iraq after Negotiations
Iran has received $1.6 billion in arrears from the Iraqi government for imports of natural gas, Oil Minister Javad Owji announced late Wednesday. In a Twitter post, Owji said the debt from previous years was received “a few hours ago” following “several months of negotiations” between the two sides, crediting …
Read More »Key Meeting of North Korea’s Ruling Party Underway amid Fears of Nuclear Test
A key meeting of North Korea’s ruling Workers Party is underway amid speculation of Pyongyang preparing for a nuclear test. The top huddle, which convened on Wednesday, is being presided by North Korean leader Kim Jong Un, with the participation of key officials of the party and ministries, Korean Central …
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