Tag Archives: Oil Price

The giant offshore Johan Sverdrup oilfield, Western Europe’s biggest producing field, has resumed normal operations at full capacity following a power outage on Monday, a spokesperson for the operator, Equinor, told Reuters on Wednesday. “The entire production facility at Johan Sverdrup resumed operations yesterday and is now producing steadily at …

Requests from customers in Austria and Slovakia for Russian natural gas supply via Ukraine rose by 6% on Tuesday compared to Monday, even as Gazprom cut off supply to Austrian energy group OMV this weekend amid a contractual dispute. Nominations from companies in Austria and Slovakia were still 12% below …

Brazil’s Petrobras plans to spend $111 billion in the five years between 2025 and 2029, with $77 billion of this total earmarked for oil and gas exploration and production activities, Reuters reported, citing a securities filing. The new spending figure is $10 billion higher than an earlier version of the …

Austria appears to be still receiving some Russian gas two days after the country’s integrated energy company, OMV, declared it would stop paying Gazprom to offset a 230 million-euro ($242 million) arbitration award by the International Chamber of Commerce over a previous gas cut-off. According to Reuters, gas flows from …

Reduced hydropower generation in Canada and low natural gas prices in the U.S. have resulted in a jump in U.S. exports of electricity to Canada since 2023, according to estimates by the U.S. Energy Information Administration (EIA). The U.S. and Canada have been each other’s main electricity trade partners for …

Global natural gas demand rose by 6.1 billion cubic meters (bcm) in September from a year earlier, and inventories jumped to a record high, the Joint Organizations Data Initiative (JODI) said in its monthly oil and gas overview on Monday. Worldwide natural gas production also rose year-over-year by 7.65 bcm …

Saudi Arabia’s crude oil exports increased by 80,000 barrels per day (bpd) to 5.75 million bpd in September—the highest in three months, the latest data from the Joint Organizations Data Initiative (JODI) showed on Monday. The September crude exports were the highest since June, likely due to the lower direct …

France is importing record volumes of Russian LNG even as overall LNG purchases are falling, ship-tracking data compiled by Bloomberg showed on Monday, highlighting Europe’s growing imports of Russian LNG. So far this year, France has already imported more LNG from Russia’s Yamal export plant than in any other full …

The world is far from reaching its offshore wind capacity installation targets amid rising costs and canceled lease sales, analysts and government and industry representatives have told Reuters. Last year, governments set a goal to triple overall renewable energy capacity by 2030. Currently, the world is off track to reach …

Russia is eyeing yet another pipeline to China, this time via Kazakhstan, capable of delivering up to 35 bcm of natural gas annually. Announced by Deputy Prime Minister Alexander Novak, the plan comes as Moscow pivots hard toward Beijing, already shipping 40 bcm of gas to the Asian giant this …