Tag Archives: Europe

The State Organization for Marketing of Oil (SOMO) intends to increase its share in the European market amid the decline in Russian imports to the region and its need to provide alternatives. Head of SOMO, Alaa Al-Yasiri, mentioned that the work mechanisms of SOMO are focused on ensuring the marketing …

Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake of the Ukraine war, the International Energy Agency warned Thursday. The IEA said the shortfall would occur if Russia stops pipelines deliveries completely and China steps up its imports of …

A senior official from Turkmenistan this week again dangled the prospect of his country exporting its gas directly to European markets through a Trans-Caspian pipeline route, but with a lack of enthusiasm that should probably have Brussels concerned. Speaking at the Abu Dhabi International Petroleum Exhibition and Conference, or ADIPEC, …

Azerbaijan and Georgia are hoping to capitalize on their rising geopolitical significance and gain a new route to supply Europe with electricity. Plans for an electricity cable stretching beneath the Black Sea from Georgia to southeastern Europe have been on the table for several years now. But with European energy …

Europe is nearing a recession, and the U.S. may be right on its heels, the world’s second-largest container carrier told Bloomberg TV on Wednesday. Recession fears have put a cap on oil prices as analysts mull just how deeply a recession would cut into the demand for the commodity that …

Europe is more or less prepared to face this winter with nearly full gas storage sites and a steady flow of LNG imports. The real concern about gas supply is for the winter after that, the top executives of Europe’s biggest oil and gas majors say. As of October 31, …

Russia said on Saturday that the accelerated deployment of modernised U.S. B61 tactical nuclear weapons at NATO bases in Europe would lower the “nuclear threshold” and that Russia would take the move into account in its military planning. Russia’s invasion of Ukraine has triggered the gravest confrontation between Moscow and …

Europe’s near-term natural gas supply glut means more fuel for Asia this winter. Liquefied natural gas suppliers are already looking to redirect shipments to Asia for delivery from November onward due to more attractive prices, according to traders with knowledge of the matter. Asia LNG spot prices jumped above the …

European countries have boasted that their gas storage facilities have been filled at higher than usual levels before the start of winter. Yet more LNG cargos are arriving in Europe at such rates that they are jamming ports. And freight rates are through the roof, adding to already record LNG …

Record power generation from solar and wind helped the European Union save $10.75 billion (11 billion euros) on natural gas imports since the Russian invasion of Ukraine, a new study by environmental think tanks E3G and Ember finds. Wind and solar energy sources accounted for a record 24% of EU …