Tag Archives: Bloomberg News Agency

China’s imports of edible oils plunged to the smallest in more than seven years on weak demand from the restaurant industry as the impact of Covid lockdowns lingers, and on expectations prices will drop even more. Just 254,000 tons were unloaded in June, the lowest monthly total since February 2015, …

A global squeeze on energy supply that’s triggered crippling shortages and sent power and fuel prices surging may get worse, according to the head of the International Energy Agency. “The world has never witnessed such a major energy crisis in terms of its depth and its complexity,” IEA Executive Director …

Shell Plc said surging margins from fuel production could have added more than $1 billion to the earnings of its refining business last quarter, when gasoline prices broke records in several countries. The trading update from the London-based energy giant is the first indicator of just how much cash was …

Global natural gas demand will sputter for the next three years, as soaring prices and the threat of further Russian supply cuts discourage consumption. Gas use is expected to slip 0.5% this year as reduced economic activity in Asia and a sharp drop in European gas demand overshadows more buoyant …

Algeria said it reached a deal with three “partners” to increase prices of its natural gas exports, as Europe races to boost supplies from the North African country. “We are confident that we will soon reach agreements to review the prices with other partners,” Toufik Hakkar, the chief executive officer …

Shell Plc is set to follow other Western energy majors by taking a stake in a $29 billion project to boost Qatar’s exports of liquefied natural gas, just as Europe races to shore up new supplies of the fuel. The London-based company will probably announce its partnership with state-controlled Qatar …

Oil majors from three continents are partnering with the world’s largest factory hub on a massive carbon capture site that would store the heat-trapping gas at sea in China. Exxon Mobil Corp., Shell Plc and Cnooc Ltd. signed a non-binding agreement with the Guangdong government on a facility that would …

European natural gas prices fluctuated, with traders weighing the return of flows via Turkey against the risk of a further deterioration in supplies to the continent. Gas shipments via the TurkStream pipeline resumed after maintenance ended on Monday, Russia’s Gazprom said on Telegram. The link, which has an annual transport …

European Union governments are confronting the risk of a splintering energy market as Russian cuts in natural-gas supplies test EU unity in response to the war on Ukraine. An increase in gas supply disruptions following EU sanctions on Russia is prompting member countries to step up winter preparations as they …

An Italian proposal to cap natural gas prices in Europe is gaining traction across the region as countries increasingly see it as the “only solution” to soaring costs, Energy Minister Roberto Cingolani said Tuesday. Italy has recommended that European Union member states put a limit on the price of gas …