Tag Archives: Oil Price

Consumption of natural gas in the EU’s third-largest economy, Italy, dropped by 2.5% in 2024 to its lowest level in more than 15 years, power market manager GME said on Friday. Demand fell for a third consecutive year in 2024, due to higher prices compared to the pre-energy crisis levels, …

Weaker fuel demand and depressed refining margins in 2024 resulted in the first annual decline in China’s refinery throughput in over 20 years, excluding the pandemic lockdown year of 2022, government data showed on Friday. Chinese refiners processed on average 14.13 million barrels per day (bpd) of crude oil last …

Russia’s exports of refined oil products by sea declined by 9.1% in 2024 from a year earlier, due to low processing rates, drone attacks knocking out refineries, and export bans, Reuters reported on Friday, citing industry data. Russia shipped a total of 113.7 million metric tons of refined petroleum products …

During the Covid-19 pandemic, when oil prices fell to a record low, millions of oil and gas jobs were cut worldwide. This was owing to a decrease in oil and gas operations due to work and movement restrictions, as well as many companies going bankrupt. During this time, several oil …

TotalEnergies expects its fourth-quarter results to have benefited from higher LNG production and prices and stronger gas trading, the French energy group said on Thursday, diverging from other supermajors that have flagged weaker oil and gas trading results for the final quarter of 2024. TotalEnergies expects its Integrated LNG results …

The world’s biggest importer of coal, China, has widened its lead over the second-largest buyer, India, to the highest in more than a decade, according to customs data compiled by Reuters. Last year, Chinese imports rose while India’s fell, widening the gap between China and India in coal buying, according …

The world’s top crude oil exporter, Saudi Aramco, is set to announce on Wednesday a push to invest in lithium production and developments to capture part of the supply chain and diversify from oil, sources close to the largest oil firm globally told the Financial Times. The move to boost …

The new expansive U.S. sanctions on the Russian oil industry and exports could affect global oil flows, complicating trade logistics for producers using shadow fleets such as Russia, Iran, and Venezuela, the International Energy Agency (IEA) said on Wednesday. Despite the prospect of declining supply from Russia and Iran, with …

On Tuesday, Norway awarded stakes in 53 offshore oil and gas exploration licenses to 20 companies in its latest annual licensing round, with Energy Minister Terje Aasland revealing plans for increased drilling in its offshore Arctic region. “If we are to uphold a stable production in the years to come, …

Greece is urging the EU to move faster to address the high power and natural gas prices in the bloc that undermine its competitiveness alongside burdening households, Greek Prime Minister Kyriakos Mitsotakis wrote in a letter to European Commission President Ursula von der Leyen seen by Bloomberg News. European wholesale …