Tag Archives: Bloomberg News Agency

OPEC+ is widely expected to continue raising its overall production quota by 400,000 barrels per day (bpd) per the plan from last summer, despite the surging oil prices over the Russian invasion of Ukraine, a Bloomberg survey of 18 analysts and traders showed on Tuesday. The OPEC+ group—led by Saudi …

European natural gas prices surged as another round of sanctions on Russia over the weekend fueled concerned about energy shortages. Futures traded in the Netherlands jumped as much as 36% on Monday. Western nations agreed to impose new sanctions to further isolate Russia’s economy and financial system after initial penalties …

Japan should discuss a possible sharing of nuclear weapons similar to that of NATO members in the wake of the Russian invasion of Ukraine, former Prime Minister Shinzo Abe said Sunday. NATO’s nuclear sharing arrangements let the U.S. keep its nuclear weapons in Europe under its custody. “Many people in …

The U.K. government has argued for some of the toughest possible sanctions on Russia. At the same time, BP Plc holds one of the single biggest foreign investments in the country. It’s an increasingly uncomfortable position for the British energy giant — one that has prompted concerns at the highest …

Beijing, a key Russian ally, has moved to restrict financing for Russian commodities purchases through two of China’s largest state-owned banks, Bloomberg reports, as Russian forces advance to Kyiv only a day after launching a full-scale invasion plan. According to Bloomberg, the Industrial and Commercial Bank of China (ICBC) has …

Russia’s Rosneft PJSC aims to develop new natural gas reserves regardless of whether the Kremlin allows the company to export the fuel through pipelines. “We will produce gas at Rospan and Kharampur-Neftegaz irrespective of the export potential,” First Vice President Didier Casimiro told reporters, referring to the company’s two greenfield …

China criticized U.S. President Joe Biden’s decision to extend tariffs on imported solar equipment, saying the act will “distort” international trades of the renewable energy product. “The U.S. government insisted on the extension regardless of the strong opposition domestically and internationally,” the Ministry of Commerce said in a statement on …

Saudi Arabia raised oil prices for its main market of Asia after crude’s surge to almost $95 a barrel. State firm Saudi Aramco increased pricing for all grades for Asian customers in March, according to several people with knowledge of the matter. The company raised its key Arab Light oil …

The U.S. and its European allies have approached several major natural-gas importers in Asia, including China, about sending their fuel to Europe if a conflict over Ukraine erupts, according to people familiar with the matter. President Joe Biden’s administration has spoken to officials in Japan, South Korea and India as …

Energy-rich countries from Qatar to Azerbaijan have all pledged emergency gas supplies to Europe, but the region is quickly figuring out it can’t replace top supplier Russia. Ongoing tensions over Ukraine and the threat of a potential conflict interrupting energy flows to Europe have overshadowed the continent’s gas market in …