A drone strike caused a fire at a refinery in south-west Russia near the border with Ukraine - but no one was hurt and the blaze was contained quickly, officials said.
Ukraine has launched missiles against three gas rigs in the Black Sea, according to Russian officials, south of Odessa.
Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of Urals crude have picked up by 658% compared to 2021 levels, while for China the increase is 205% and for Asia as a whole 347%, Rystad Energy research shows.
Russia’s invasion of Ukraine means climate security and energy security are “now synonymous”, according to the UK’s COP26 President.
China continued to snap up Russian energy products last month, including a record quantity of crude oil, lifting purchases to $7.47 billion -- about $1 billion more than April and double the amount of a year ago.
The boss of Aberdeen-headquartered Plexus Holdings (LON: POS) is forecasting a “significant resurgence” in North Sea activity.
Gazprom and CNPC have signed a technical agreement on the Far East route for supplying Russian gas to China, Gazprom said in a statement. The pair signed a long-term gas supply deal in February underpinning the construction of a pipeline from Russia’s Far East into China, underscoring Moscow’s strategic pivot to Asia.
Russia stepped up the use of energy as a weapon by further cutting natural gas shipments via its biggest pipeline to Europe, prompting Germany to accuse the Kremlin of trying to drive up prices.
Fitch Ratings has increased its oil and gas price forecast, indicating increased pressure on the European market driven by strong demand.
Trafigura has warned of further challenges for the energy, and metal, markets, with higher prices for some time, although also reporting record profits.
Liquefied natural gas (LNG) buyers in Asia are already busy securing cargoes for winter, indicating that competition in a tight market may lead to a further jump in prices.
Russia is earning less from its oil exports, even as seaborne crude shipments surge to a six-week high. That’s because of the big discounts that Moscow is having to offer Asian buyers to snap up barrels shunned by Europe, which translate into a drop in export duties.
OPEC+ agreed to increase the size of its oil-supply hikes by about 50%, in a deal that kept Russia at the heart of the cartel while also heeding pressure from major consumers including the US.
India's state-run gas utility GAIL is seeking a one million tonne per year (t/y) liquefied natural gas (LNG) import deal for ten years starting 2023 to help meet the country's expanding demand for cleaner fuels amid increasing energy consumption, said the company’s chairman Manoj Jain earlier this week.
The European Union’s top trade official said China will exploit Russia’s need to diversify where it sells its energy, with the bloc set to ban as much as 90% of Moscow’s crude oil imports by year’s end.
The US has no immediate way to slash the price Americans are paying for gasoline, and is considering other proposals such as trying to set a lower price for sale of Russian crude, President Joe Biden said.
European Union leaders agreed to pursue a partial ban on Russian oil, paving the way for a sixth package of sanctions to punish Russia and its president, Vladimir Putin, for the invasion of Ukraine.
Pakistan said it is considering to sign a liquefied natural gas (LNG) purchase agreement with various countries including Russia as it seeks to secure supply and ease a crippling shortage.
The head of Russia’s lower parliamentary house yesterday called for the Sakhalin-2 LNG project equity owned by foreign investors from “unfriendly countries” to be transferred to Gazprom or the state.
The state-run oil champion led by a close ally of President Vladimir Putin has seen the largest drop in production since the invasion of Ukraine.
China is seeking to replenish its strategic crude stockpiles with cheap Russian oil, a sign Beijing is strengthening its energy ties with Moscow just as Europe works toward banning imports due to the war in Ukraine.
India’s state-backed Oil & Natural Gas Corporation (ONGC) (NSE:ONGC) is considering placing more offers for Russian energy assets that western majors, such as Shell (LSE:RDSA), BP (LON:BP), and ExxonMobil (NYSE:XOM), are seeking to divest following Russia’s invasion of Ukraine, the Economic Times reported yesterday.
Pipeline specialist STATS Group plans to boost its international footprint following an “excellent” 2021.
The euro area’s pandemic recovery would almost grind to a halt, while prices would surge even more quickly if there are serious disruptions to natural-gas supplies from Russia, according to new projections from the European Commission.
Six months ago, UK North Sea oil and gas faced the bleakest outlook in its 50-year history.