Tag Archives: Bloomberg News Agency

Azerbaijan can boost natural gas exports to Europe but needs to secure new sales contracts first, said President Ilham Aliyev. If talks started now, Azerbaijan would be ready to increase exports as soon as next winter, Aliyev said in an interview with Spain’s EFE news service, the text of which …

The OPEC+ cartel’s production policy will be the main factor influencing oil prices over the coming months, according to Vitol Group. There’s little chance of Iranian barrels returning to global markets this year and U.S. shale producers aren’t investing enough to raise output quickly, according to the world’s largest independent …

Petrodollars are once again flowing in for Saudi Arabia. The kingdom is earning more money from oil exports than at any time since 2018, as the global economic recovery and OPEC+ production cuts boost prices. The producers’ cartel meets on Monday and has signaled it will continue with a gradual …

It’s not just extra natural gas that Europe’s struggling energy markets are finding tough to get from Russia. Power producers in the continent are being forced to ask Russia for more coal to ease an energy crunch with winter approaching and record-high gas prices denting profitability, according to officials at …

SSE Plc formed a joint venture in Japan to gain a foothold in one of the most promising markets for offshore wind. The Scottish utility, one of the companies behind the world’s largest offshore wind park, will pay $208 million to take an 80% stake in a joint venture with …

The United Arab Emirates is seeking to more than double non-oil trade with India to as much as $100 billion over five years as part of efforts to deepen ties with fast-growing economies beyond the Middle East. The two governments have started talks on an economic pact aimed at boosting …

Iraq warned that oil demand will probably rise as the supply crunch in natural-gas markets forces consumers to look for alternative fuels, echoing the views of fellow OPEC member Nigeria. “There is some new concern,” Iraqi Oil Minister Ihsan Abdul Jabbar said in an interview. Iraq is ready to pump …

Japan’s natural gas industry is making controversial claims about the fuel to make it more appealing to climate-conscious buyers. Tokyo-based Inpex Corp. this month said it sold two “carbon neutral” liquefied natural gas shipments to Shizuoka Gas Co. and Toho Gas Co., offsetting the fuel’s lifetime emissions using credits from …

Russia’s crude oil and condensate output jumped in the first weeks of September as some of the nation’s key producers ramped up in line with the OPEC+ deal and Gazprom PJSC recovered from a fire at a facility in West Siberia. The nation pumped an average of 1,456.9 thousand tons …

Iraq cut the price of its banner crude for U.S. customers sharply, a bold deviation from what Saudi Arabia chose to do with its own barrels just a few days ago. The nation’s Basrah Light barrels will be sold at a discount of $1.15 per barrel to a regional benchmark …