Tag Archives: Europe

European imports of liquefied natural gas soared last year as nations sought to cover for drops in Russian pipeline supplies, a report from the International Energy Agency said Tuesday. The jump in demand from European nations sent prices spiking higher, with global sales doubling in value to $450 billion even …

European gas demand is expected to be “broadly flat” this year after falling to an all-time low in 2022 following the curtailment of Russian exports, the International Energy Agency said. But there is a “high” level of uncertainty about Russian supply cuts and the possible economic effect of volatile energy …

In the winter of late 2022 and early 2023, Europe got lucky. It got very lucky. Gas storage sites were fuller than usual because of the massive LNG-buying effort the EU put into securing gas for the winter, and the winter itself turned out to be warmer than usual. Yet …

Europe is on track to import this month the highest volumes of diesel from the Middle East and Asia in seven years as the EU turns to alternative supply after the ban on imports of Russian diesel and other fuels took effect on February 5. Diesel and gasoil arrivals to …

Europe is boosting the amount of crude it imports from Angola as the continent’s ban on Russian oil upends typical trade routes. More than 40% of Angola’s 32 crude cargoes for loading this month are bound for destinations west of the Suez Canal — mostly to Europe as well as …

The European Parliament (EP) announced recently that it has approved new CO2 emissions reduction targets for new passenger cars and light commercial vehicles. Members of European Parliament endorsed a deal reached with the European Council back in October 2022 with 340 votes in favor, 279 against and 21 abstentions, the …

Europe’s thirst for U.S. crude oil is expected to remain elevated, VP of Midstream for Chevron Corp said today on the sidelines of the Argus Americas Crude summit. “A key change in flow is U.S. crude going to Europe. For this year, I’m pretty confident Europe is short of Russian …

Europe’s increased need for liquefied natural gas (LNG) looks set to intensify competition with Asia for limited new supply available over the next two years and may dominate LNG trade over the longer term, according to Shell’s LNG Outlook 2023. European countries, including the UK, imported 121 million tonnes of …

European natural gas prices are set to move higher through the rest of the year, futures contracts show, a sign that the energy crunch isn’t over yet. Benchmark Dutch futures for December are currently priced above €60 per megawatt-hour, compared with about €54 for March. Both are elevated for their …

Amid a wall of screens in the control room of Equinor ASA’s Johan Sverdrup oil field in the North Sea ticks a tally of the day’s oil production — and a measure of Norway’s growing importance to Europe’s energy security. On Feb. 13, that figure hovered around 720,000 bpd. “By …