Tag Archives: Oil Price

While the world is watching the UN General Assembly discussions on Gaza-Israel, hybrid warfare in Europe (drones) and Trump, global oil markets are showing increased instability, as Ukrainian drones are destroying key oil and gas infrastructure inside of Russia. Over the last few weeks, a tsunami of reports has been …

Canadian producers are temporarily shutting in natural gas wellheads amid a record-low negative pricing at the key Alberta gas hub. The price of natural gas at the AECO Hub, the Canadian benchmark price for natural gas on the Nova Gas Transmission Ltd. (NGTL) system, has been weak all summer and …

ExxonMobil has quietly signed a non-binding agreement with Russia’s state-run Rosneft that could open the door to recovering billions lost when it exited the Sakhalin-1 project after Moscow’s invasion of Ukraine. Sources told that Reuters the pact, inked in late August or early September, sets the terms for talks but …

Norwegian oil and gas production exceeded the regulator’s forecast by 2.6% in August, for the second consecutive month, data from the Norwegian Offshore Directorate showed on Tuesday. Last month, oil output in Western Europe’s biggest crude and natural gas producer averaged 1.924 million barrels per day (bpd), up by 7.1% …

China has received a sixth LNG cargo from Russia’s heavily sanctioned Arctic export project in a sign that the Chinese-Russian trade from Arctic LNG 2 has been flourishing in recent weeks despite U.S. and European sanctions on the project. The Arctic Mulan discharged its LNG cargo at the Chinese terminal …

Thermal coal imports into Asia reversed a nine-month losing streak last month, rising to the highest in almost a year, Reuters’ Gavin Maguire reported, noting the rise could extend over the coming winter months. Citing data from commodity analytics provider Kpler, Maguire reported that thermal coal imports in Asia jumped …

Hungary has no intention of suspending Russian oil imports despite pressure on the whole of the European Union from U.S. President Donald Trump and EU pressure on Hungary specifically. “We can’t ensure the safe supply [of energy products] for our country without Russian oil or gas sources,” Foreign Minister Peter …

Turkey and the federal Iraqi government have agreed to resume oil exports from Iraq’s semi-autonomous region of Kurdistan via a pipeline to the Turkish coast, Shakhwan Abdullah, Deputy Speaker of the Iraqi Parliament, said this weekend. Oil exports from Kurdistan have been halted for two and a half years, after …

U.S. Commonwealth Fusion Systems (CFS), which is developing fusion energy, has signed a more than $1-billion power purchase agreement with Italy’s energy major Eni as the two companies continue to partner to bring fusion power to commercial use. Nuclear fusion has long been considered the answer to zero-emission by-product-free energy …

India’s federal government is in discussions with state governments to have them buy more renewable sources for power generation, Indian federal Minister of New and Renewable Energy, Pralhad Joshi, said on Monday. State-held utilities have been delaying purchases of clean energy recently, the minister said at an energy conference in …