Tag Archives: Bloomberg News Agency

Saudi Arabia’s economy slowed in the second quarter as oil-production cuts and a drop in prices pushed the country from being one of the fastest-growing Group of 20 countries to one of the slowest. Gross domestic product expanded 1.1% on an annual basis, according to preliminary data released by the …

European natural gas prices rose for a fifth day, the longest streak since April, as outages tighten global supply while heat blankets parts of the region. Benchmark futures advanced as much as 5.2% on Wednesday, signaling that a bullish trend is taking hold after prices slipped in the first half …

Chevron Corp. reported second-quarter earnings of $6.01 billion, beating analyst estimates. The figures, while down 48% from the same period last year, topped the second-quarter profit of $5.5 billion expected by analysts in a Bloomberg survey. Chevron also said on Sunday it produced 772,000 barrels of oil equivalent at the …

China’s imports of key energy commodities from Russia surged to all-time highs last month, highlighting the growing interdependence of the two nations as the war in Ukraine drags on well into its second year. Imports of thermal and coking coal from Russia swelled to 10.6 million tons in June, above …

European natural gas declined as recovering fuel flows from Norway eased supply concerns, with investors becoming more bearish again. Benchmark Dutch futures fell as much as 6.2% with Norwegian supplies rising back to April levels early on Thursday, according to grid data. Shipments from the Nordic country, Europe’s top gas …

Australia’s liquefied natural gas buyers fear that recent policy changes to safeguard domestic resources and reduce emissions could limit exports, according to the nation’s top seller. LNG buyers, including Japanese companies, told Woodside Energy Group Ltd. earlier this month that they are worried about future supply, said Chief Executive Officer …

QatarEnergy’s net income rose 58% in 2022 to reach 154.6 billion riyals ($42.4 billion) on surging international energy prices, according to latest reported data. Russia’s invasion of Ukraine in February last year sparked supply fears among European consumers reliant on Moscow for pipeline gas, driving prices to record highs. As …

Japan plans to announce a new public-private framework to help reduce methane emissions across the liquefied natural gas supply chain as concerns about rising temperatures force governments to take more aggressive climate action. Details are expected to be announced during the LNG Producer-Consumer Conference on Tuesday in Tokyo, Minister of …

Japan plans to propose a global stockpile for natural gas, similar to the emergency reserve in the oil sector, to help avoid future shortages and stabilize prices. The nation’s government will suggest that the International Energy Agency should create a gas stockpiling framework for member nations, according to people familiar …

The United Arab Emirates won’t be making further voluntary OPEC+ oil production cuts at the present time, said the country’s energy minister. The UAE is “doing enough” to contribute to the OPEC+ supply curbs, Energy Minister Suhail Al Mazrouei told reporters in Vienna. He noted the large difference between the …