Tag Archives: World Oil

Around half of Gazprom PJSC’s foreign clients have complied with a request from Russia’s president to open accounts with Gazprombank JSC, according to Deputy Prime Minister Alexander Novak. The shift in procedure follows a demand by Vladimir Putin in March that foreign buyers open ruble and foreign-currency accounts at the …

After driving up prices for everything from steel pipes to frack sand to labor, inflation has finally ensnared the centerpiece of oilfield equipment: the drilling rig. Rig prices are spiking in the U.S. compared to the rest of the world, promising profits at multiyear high for oilfield contractors. Three of …

Asia is still snapping up cheap Russian oil that European buyers don’t want. Seaborne exports of the nation’s crude rebounded in the seven days to April 22. One-fifth of the volume shipped from ports on the Black Sea, Baltic and Arctic coasts is on tankers showing no final destination, with …

Eni SPA signed a framework agreement to boost flows of liquefied natural gas from Egypt to Italy, as European nations step up efforts to wean themselves off Russian energy in the wake of Moscow’s attack on Ukraine. “The agreement aims to promote Egyptian gas exports to Europe, and specifically to …

Saudi Arabia and the United Arab Emirates said the U.S. must trust OPEC+’s strategy, as Washington and other major importers call on the group to hike oil production following Russia’s invasion of Ukraine. Crude prices surged to almost $140 a barrel soon after Moscow’s attack last month, though they’ve eased …

German Finance Minister Christian Lindner remains opposed to a boycott of Russian oil and gas, even with leading members of his Free Democratic Party saying restrictions should be imposed to punish Russia for its invasion of Ukraine, the Tagesspiegel newspaper reported on Sunday. “Our concern must be to build up …

Triple-digit oil prices are possible in the next few months as geopolitical risks and “struggling” supply hit global crude markets, said Chevron Corp.’s top executive. Demand for petroleum is growing faster than production as the world transitions away from the worst of the pandemic, Chief Executive Officer Mike Wirth said …

The U.S. became the world’s No. 1 exporter of liquefied natural gas for the first time ever last month, as deliveries surged to energy-starved Europe. Output from American facilities edged above Qatar in December after a jump in exports from the Sabine Pass and Freeport facilities, according to ship-tracking data …

Denmark’s government wants to drop fossil fuels in domestic air travel by 2030 in its most recent push to meet its climate targets. The Nordic country, which recently proposed to boost investments in the green hydrogen industry, wants the first domestic flights to use green fuel no later than in …

The European Union is planning a hard deadline to end long-term contracts to import natural gas as part of its green shift, a setback for top supplier Russia. The bloc’s executive arm wants to prevent such contracts from being extended beyond 2049 in a sweeping overhaul of its energy markets, …