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Oil & Gas Trade
US Officials Reportedly Visit Venezuela to Discuss Easing Oil Sanctions
Highest-level talks in years yield little progress as politicians look to further isolate Russia
Oil Price
OPEC Has No Control over Events Roiling Global Oil Markets
OPEC has no control over the events that have led to the run up in global oil prices and there is not enough capacity worldwide to compensate for the loss of Ru…
Natural Gas
EU Says Independence From Russian Gas Is Possible Within Years
The European Union could wean itself off Russian gas within years and start curbing its reliance within months, the European Commission’s climate policy chief …
Crude Oil
Shell Defends Decision to Buy Discounted Oil From Russia
Oil major Shell has sought to defend its decision to buy a heavily-discounted consignment of oil from Russia, saying it would commit the profits to a fund dedic…
Oil Price
Crude Oil Surges on Russia Oil Embargo Risk
WTI is continuing to soar. U.S. Secretary of State Antony Blinken has signaled the Biden administration and its allies are discussing an embargo on Russian oil,…
Oil & Gas Supply
Elon Musk Calls for Immediate Boost in Oil and Gas Production Amid Russia-Ukraine War
In a tweet, Tesla CEO Elon Musk called for an immediate increase in oil and gas production in the US and globally to compensate for the reduced Russian output. …
Oil & Gas Trade
Ukraine: Workers Refuse to Unload Russian Oil from Ship
Workers are refusing to unload Russian oil from a German-flagged ship which is moored at a major British oil refinery.
Oil Price
Fueling Inflation: Petrol, Diesel Prices Set to Rise as Crude to Range Around $95-125
Hostilities between Russia and Ukraine, along with sustained demand, is expected to keep global crude oil prices in the range of $95-to-$125 per barrel in the s…
Natural Gas
Denmark to Boost Defence Spending and Phase out Russian Gas
Denmark will significantly increase its defence budget and aim to become independent of Russian natural gas in response to Russia's invasion of Ukraine, Danish …
Oil & Gas Trade
Hundreds of NGOs Call for Import Ban on Russian Oil, Gas
Hundreds of civil society groups and NGOs Friday called on governments worldwide to "reject and ban any import of fossil fuels from Russia" in order to cut off …
Crude Oil
Elon Musk: “We Need to Increase Oil & Gas Output Immediately”
Elon Musk, CEO of Tesla, has shared some thoughts on Twitter about the current situation with oil and gas and Russia.
Nuclear Reactor
Major components in place at Akkuyu 1
Installation has been completed of the main equipment within the reactor building of unit 1 of the Akkuyu nuclear power plant in Turkey. The Russian-supplied VV…
Oil Price
U.S. Gasoline Prices Soar to Highest Since 2008 on Russia Conflict
U.S. gasoline prices at the pump jumped 11% over the past week to the highest since late July 2008 as global sanctions cripple Russia’s ability to export crude…
Crude Oil
Shell Defends 'Difficult' Decision to Buy Russian Crude Oil
Shell has defended its decision to purchase Russian crude oil despite the invasion and bombardment of Ukraine.
Crude Oil
Treasury Department Assures Wall Street It Can Still Trade Russian Oil and Gas
The U.S. Treasury Department clarified Friday afternoon that Wall Street’s traders and banks can continue to buy and sell Russian oil and gas.
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