Russia delivers huge blow to Europe by keeping key Nord Stream gas pipeline shut
Russia will keep the key Nord Stream 1 gas pipeline to Germany shut, state-owned energy giant Gazprom said on Friday, delivering a massive blow to Europe.
Ukraine
‘We need more oil and gas’ billionaire Elon Musk tells ONS
Billionaire Elon Musk has told the ONS conference in Stavanger that “more oil and gas” is needed, at least in the near-term, for a sustainable future.
Japan’s Mitsubishi primed to join new Sakhalin-2 LNG Russian operator
Japan’s Mitsubishi Corporation is set to issue a notice that it will join the new operating company for the Sakhalin-2 LNG export complex in the Russian Far East, reported Nikkei Asia.
UK gas producers boost domestic supplies by a quarter in just six months
Gas companies have stepped up to the plate in recent months to help the UK cut its dependence on imports.
Gazprom to Shut Pipeline for Three Days in New Shock to Europe
Gazprom PJSC will stop delivering natural gas to Europe through its main pipeline for three days, further squeezing energy supplies just as Germany is trying to build up stocks for the winter.
Political will and Europe’s energy security challenge
European energy security faces a seemingly impossible task of meeting short-term demand with longer-term decarbonisation. Society does not have the luxury of declaring this to be impossible, though, so must take steps now to meet the challenges.
Russia orders new Sakhalin-2 LNG operator to be set up, putting Japan’s stake on the line
Russia’s government ordered the establishment of a new operator for the Sakhalin-2 liquefied natural gas (LNG) project in the Far East region, according to a document published in the nation’s legal database.
Germany bails out Uniper with multi-billion euro package
Germany has agreed to buy a stake in Uniper and also provide multi-billion euro in various instruments.
Baker Hughes sees ‘unusual circumstances’ for oil market through 2023
Baker Hughes (NASDAQ: BKR) expects an “unusual set of circumstances and challenges” for the oil market through 2023.
Halliburton takes $366m impairments on Russia invasion of Ukraine
Marketing for sale its business in Russia and impairments on its assets in Ukraine saw Halliburton (NASDAQ: HAL) take $366m of impairments in the first half of 2022.
Gazprom declares force majeure on some European gas buyers
Russian gas giant Gazprom has declared force majeure on several European natural gas buyers - a move that may signal it intends to keep supplies capped, reinforcing Russia’s grip on the region’s energy.
North Sea must expand safety scope across new energy agenda, says HSE chief
“We've got to learn from what others have gone through, but at the same time pass on our own learnings to other industries,” says Offshore Energies UK’s (OEUK) new safety boss Mark Wilson.
Russia muscles in on Indian oil market at expense of OPEC titans
Watch out Iraq and Saudi Arabia, Russia is making huge inroads into the Indian oil market and has quite possibly become the largest supplier to the giant Asian buyer.
G-7 edges closer to ditching pledge to end fossil-fuel financing
The Group of Seven is moving toward reversing a commitment to halt the financing of overseas fossil-fuel projects by year’s end, a proposal now viewed favourably by most members, according to people familiar with the matter.
Oil swings as G-7 mulls Iran deal revival, cap on Russian oil
Oil traded near $107 a barrel in New York as investors monitored developments from the gathering of Group of Seven leaders, and two supplier countries flagged potential output cuts due to political unrest.
Drone strike hits Russia oil refinery near Ukraine
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 missiles strike three Black Sea gas rigs
Ukraine has launched missiles against three gas rigs in the Black Sea, according to Russian officials, south of Odessa.
Asia imports more seaborne Russian oil than Europe, India takes lion’s share
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.
Plexus noticing ‘quite a pickup’ in enquiries off the back of North Sea ‘resurgence’
The boss of Aberdeen-headquartered Plexus Holdings (LON: POS) is forecasting a “significant resurgence” in North Sea activity.
Russia steps up energy wars with gas cuts to Europe’s top buyers
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.
Russia’s crude oil revenues take a hit even as exports swell
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.
EU leaders back push to ban most Russia oil over Putin’s war
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.
Energy security ‘still trumps’ sustainability, says RenewableUK CEO
Recent months have underlined that energy security "still trumps" sustainability in the minds of politicians, the head of a trade body has claimed.
STATS Group eyes international growth after ‘excellent’ 2021
Pipeline specialist STATS Group plans to boost its international footprint following an “excellent” 2021.
Oil extends gains as investors weigh Russian ban, China outlook
Oil advanced for a third day, bookending another tumultuous week of trading as investors weigh the prospect of a European Union ban on Russian crude imports and uncertainty over China’s virus resurgence.