Tag Archives: Bloomberg News Agency

Bulgaria said it may halt the transit of Russian natural gas to central Europe if Gazprom PJSC doesn’t find a payment solution amid US sanctions. It’s the latest twist in a saga over the future of European energy supplies, with gas demand poised to rise over the winter months. The …

OPEC+ delayed the revival of its oil production by three months, the third time it’s deferred the move while crude prices struggle amid a looming surplus. The group led by Saudi Arabia and Russia pushed back the series of supply increases, which had been due to begin with a hike …

Russia’s role in the European Union’s liquefied natural gas market is growing, even as the bloc weighs how to clamp down on supplies from the nation. Moscow’s share of the EU’s LNG imports climbed to 20% in the first half of the year, compared with 14% a year earlier, according …

Twenty-two Japanese utilities and trading houses are joining an initiative that aims to leverage their buying power to curb methane emissions from liquefied natural gas supply chains, as pressure mounts globally to curb the harmful greenhouse gas. Companies joining the Coalition for LNG Emission Abatement Toward Net Zero initiative include …

European natural gas prices edged higher as the season’s first cold snap takes hold, potentially raising demand ahead of the official start of the heating season. Benchmark futures headed toward €38 a megawatt-hour on Tuesday after climbing for three consecutive sessions. Prices are elevated for the time of year and …

Oman plans to build a new liquefied natural gas train that will raise the nation’s export capacity by a third, indicating a belief that demand for the fuel will persist even as the world transitions to cleaner energy. The 3.8-million-ton-per-year project will be built near existing facilities in Qalhat and …

Europe still contends with China for the title of top buyer of Gazprom PJSC’s pipeline gas, more than two years after Russia’s invasion of Ukraine slashed its western energy sales. This situation reflects both the Kremlin’s successes and failures. Even after many rounds of international sanctions, Russia still supplies substantial …

Egypt’s natural gas production has dropped to the lowest in more than six years just as a scorching summer boosts demand for the fuel. The North African nation’s output in May was near the weakest since February 2018, according to figures from the Joint Organisations Data Initiative. The decline is …

Four international companies have agreed to invest in Abu Dhabi National Oil Co.’s next liquefied natural gas export project, according to people with knowledge of the matter. Shell Plc, TotalEnergies SE, BP Plc and Mitsui & Co. will each take a 10% stake in the Ruwais LNG plant, said the …

Saudi Aramco, the largest energy company in the world, granted contracts worth $25 billion for the development of its Jafurah gas project to boost production capability and reduce global warming emissions, reported Bloomberg. The contracts that were awarded include $12.4 billion for the increase in production at the Jafurah gas …