Tag Archives: Bloomberg News Agency

Germany is increasingly getting vital chemicals from abroad as the country’s industrial giants like BASF SE struggle with sky-rocketing energy prices from Russian gas cuts. Chemical import volumes have almost doubled this year as the crisis deepened. Germany imported around 2.8 billion tonnes of inorganic chemicals in the first half …

Germany’s energy crunch is forcing it to sign fossil-fuel contracts that last decades as the country balances keeping the lights on and homes heated against meeting environmental targets. Energy providers from Uniper SE to RWE AG have signed long-term agreements with liquefied natural gas suppliers, especially in the US, with …

China is lapping up liquefied natural gas shipments from Russia on the cheap. The Sakhalin-2 LNG export plant in Russia’s Far East sold several shipments to China for delivery through December at nearly half the current spot price in a tender that closed earlier this week, according to traders with …

Two floating liquefied natural gas terminals are setting up in a Dutch port, the first in a wave of the specialist tankers that Europe is banking on to ease the worst energy crunch in decades. The Golar Igloo and the Eemshaven LNG are currently berthed together in the northern seaport …

Gazprom PJSC has produced its first liquefied natural gas at a small-scale facility on the Baltic Coast near the start of the shuttered Nord Stream pipeline to Germany. Two production lines at Portovaya LNG have produced some 30,000 tons of the super-chilled fuel, Gazprom Deputy Chief Executive Officer Vitaly Markelov …

China’s biggest energy groups are diverting more liquefied natural gas away from their languishing home market, offering some relief to desperate buyers suffering supply shortages in other parts of the world. Cnooc is offering to sell an LNG cargo for November loading from the North West Shelf export project in …

The Netherlands will reach the European Union target of filling up gas storage sites to 80% capacity as early as next week, according to its energy minister. “I expect the Netherlands to reach the 80% target in the upcoming days, next week,” the Dutch Minister for Climate and Energy Policy …

European natural gas prices could approach highs set in August after Russia said its key pipeline to Europe won’t resume flows as planned, according to Goldman Sachs Group Inc. The news will probably “reignite market uncertainty regarding the region’s ability to manage storage through winter” and is set to drive …

Oil fell for a third day as demand concerns continue to escalate and the dollar rose, joining a selloff of assets from equities to metals. West Texas Intermediate futures dropped below US$88 a barrel, after falling for a third consecutive month in August in the longest run since April 2020. …

Covid lockdowns, a property market crisis and a struggling domestic economy weren’t enough to slow down China’s oil giants as they posted record first half profits. PetroChina Co., Sinopec and Cnooc Ltd. each said they made historic amounts of money in the January-to-June period as surging prices for the oil …