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Russian gas transit to Europe via Sokhranivka to fall 25%: Gazprom
- Natural gas supplies via Ukraine decline from 62.7 million cubic meters to 48.6 million cubic meters on Monday, Russian gas firm says
Oil down over lagging EU ban on Russian oil exports
- Demand concerns in China, as country tightens its zero-COVID policy are putting downward pressure on prices
Spot market electricity prices for Monday, May 16
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 1.13 billion Turkish liras
Spot market natural gas prices for Saturday, May 14
- 1,000 cubic meters of natural gas on spot market costs 11,863.54 Turkish liras
Saudi oil giant Aramco reports over 80% profit rise in 1Q22
- Aramco's first quarter 2022 profits hit $39.5 billion compared to $21.7 billion in same period of last year
Turkiye's daily power consumption down 2.61% on May 14
- Electricity exports amount to 9,952 megawatt-hours and imports total 14,208 megawatt-hours
EU ban on Russia could affect 3M barrels crude per day: Fitch
- Russia’s total production projected to decline by 2-3M barrels per day by end-2022, says global rating agency
Lukoil buys Shell’s retail and lubricants businesses in Russia
-Move is in line with Shell’s earlier announcement to withdraw from all businesses in Russia
Spot market electricity prices for Thursday, May 12
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 1.12 billion Turkish liras
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Spot market natural gas prices for Tuesday, May 10
- 1,000 cubic meters of natural gas on spot market costs 11,848.065 Turkish liras
Russian gas transit to Europe via Sokhranivka falls 25%: Gazprom
- Natural gas supplies via Ukraine decline from 95.8 million cubic meters to 72 million cubic meters on Wednesday, Russian gas firm says
Turkiye's daily power consumption up 2.95% on May 10
- Electricity exports amount to 8,893 megawatt-hours and imports total 11,553 megawatt-hours
Oil up over supply uncertainties due to EU ban on Russian oil
- Limiting further upticks, US crude oil inventories are estimated to rise, signaling weak demand in world’s top consuming country
Japan announces phased-out exit from Russian oil
- Japan is fully dependent on imports for all energy sources, importing around 3% of its oil needs from Russia
US to temporarily suspend tariffs on Ukrainian steel for 1 year
- Steel mills must be able to export to continue as economic lifeline for Ukrainian people, US commerce secretary says
Oil prices fall with demand fears in China, strong dollar
- Stalled sanctions from objections of EU members who seek exemptions to ban on Russian oil exports limits upward price movement
bp pens deal with UK firm to convert waste plastics into petrochemical feedstocks
- bp will initially receive output of Clean Planet Energy’s first facility, currently under construction in Teesside, northeast England
Oil settles lower on blurry supply outlook ahead of plan to ban Russian oil
-China's pandemic restrictions, Saudi Arabia's decision to sell oil prices lower for Asian and European clients contribute to demand woes
Oil gains around 4% during week ending April 29 over supply fears
-Ongoing Russia-Ukraine war and related sanctions on Russia continue fueling higher prices while COVID-19 measures in China limit further increases
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Oil up as Germany considers greenlighting sanctions on Russian fossil fuels
- Among top importer of Russian fossil fuels, Germany has been in opposition to ban on Russian oil and gas
Russia vows to cut gas supplies on veto of gas payments in ruble
- Kremlin spokesman refutes accusations that Russia is using natural gas as blackmail, says clients are well-informed in advance
Russian move to cut gas could have big upshot if larger states included: Rystad
- Bulgaria is fully dependent on Russian natural gas, while Poland is importing half of its natural gas from Russia, says Rystad
ExxonMobil announces three discoveries offshore Guyana
- New findings will help supply affordable energy for increasing global demand, company says
Oil up over escalating supply woes as Russia halts gas to Poland, Bulgaria
- US crude oil inventories are expected to rise by over 4.78 million barrels, limiting further price increases
Oil up despite low China demand over COVID-19 lockdowns
-Russia-Ukraine war, however, continues to put upward pressure on prices, raising supply fears
Commodity dependency puts all countries at risk
- Value of global commodity exports nearing $4.4 trillion
Spot market natural gas prices for Wednesday, April 13
- 1,000 cubic meters of natural gas on spot market costs 11,696.43 Turkish liras
Spot market electricity prices for Friday, April 15
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 1,136 billion Turkish liras
Oil down over massive build in US crude stocks, demand fears in China
- Inventories with rise of 9.4 million barrels last week encourages investors to capitalize on high price gains
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Turkiye's daily power consumption up 1.1% on April 13
- Electricity exports amount to 12,556 megawatt-hours and imports total 13,756 megawatt-hours
Oil volatile with stalemate in Russia-Ukraine talks, rise in demand risks
- Conflict in Ukraine, OPEC+ output decisions, rate at which US oil and natural gas producers increase drilling are main drivers of price uncertainties in 2022
US energy agency revises down oil price forecast for 2022
- International benchmark Brent crude now estimated to average $103.37 per barrel in 2022 and $92.57 per barrel in 2023
Oil up as China eases pandemic restrictions, OPEC warns of supply risks
- OPEC warns EU that sanctions on Russia could create severe oil supply shocks, the supply gap from which would be impossible to replace
Oil slips over 4% on China COVID outbreak and plans for oil reserve releases
- Proposal of EU embargo on Russian oil and gas limits further declines
Spot market electricity prices for Tuesday, April 12
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 1,042 billion Turkish liras
Spot market natural gas prices for Sunday, April 10
- 1,000 cubic meters of natural gas on spot market costs 11,705.40 Turkish liras
Turkiye's daily power consumption down 10.4% on April 11
- Electricity exports amount to 9,968 megawatt-hours and imports total 8,912 megawatt-hours
Oil down with weakening demand in China and release of emergency reserves
- Investors await supply and demand data from OPEC on Tuesday and International Energy Agency on Wednesday
Japan vows to phase out coal imports from Russia and search for alternatives
- Japanese economy and industry minister says his country will comply with Russian sanctions without inflicting burden on domestic industrial sector
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Oil up as Russia-Ukraine crisis outweighs emergency oil releases
- Int. Energy Agency’s intervention to decrease prices by tapping emergency oil reserves will fail to change fundamentals in oil market, experts believe
Int. Energy Agency confirms 2nd joint oil emergency stock release
- Move comes after decision to release 62.7 million barrels of oil from emergency stocks due to supply constraints from Russia-Ukraine conflict
Mitsubishi to cooperate with Shell in green hydrogen production
- Move aims to speed worldwide trend toward decarbonization by producing green hydrogen
US crude oil inventories up 0.6% for week ending April 1
- Commercial crude oil stocks increase by 2.4 million barrels, against market expectation of 1.6 million barrel fall
Chevron joins Global Centre for Maritime Decarbonization
- Company aims to help create scalable lower-carbon technologies, such as those that enable use of ammonia as a maritime fuel
Oil up over supply fears from unfolding Russia sanctions
- Estimated build in US crude stocks limits further increases
ExxonMobil to invest $10 billion on fourth Guyana offshore project
- Project is expected to produce approximately 250,000 barrels of oil per day starting in 2025
WoodMac expects relocation of some 650,000 barrels per day of Russian oil
- Reshuffling is attractive at current Urals discounts but refiners face challenges with contractual obligations with Middle Eastern producers, agency warns
Oil up over rising possibility of further sanctions on Russia
- After EU accuses Russia of war crimes in Ukraine, several European countries begin to expel Russian diplomats
Germany to take over Gazprom Germania to ensure security of supplies
- Move comes after Gazprom said Friday it would abandon its operations in Germany
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Oil prices record massive losses in week ending April 1
- Prices fluctuated in broad range, with Brent recording almost 15% decline and WTI 13.3% loss between their lowest and highest levels
Oil slightly down as investors weigh impact of huge US emergency oil release
-Member countries of International Energy Agency are expected to meet later on Friday to discuss further release of crude oil from emergency stocks
OPEC ends reliance on International Energy Agency data
- Wood Mackenzie and Rystad Energy will be used as secondary sources with immediate effect
OPEC+ confirms to continue previously-agreed output plan
- Next meeting of OPEC and non-OPEC members is scheduled for May 5
Oil down as US due to announce massive oil release from emergency stocks
- Country is currently holding 568.3 million barrels of crude oil in its reserves
Poland vows to cut all oil imports from Russia by end of 2022
- Country also banned imports of Russian coal and will impose financial penalties on all Polish private entities importing coal from Russia
Spot market electricity prices for Thursday, March 31
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 734.19 million Turkish liras
Spot market natural gas prices for Tuesday, March 29
- 1,000 cubic meters of natural gas on spot market costs 9,749.13 Turkish liras
World's first ever electric cruise ship sets sail on first voyage
-Chinese-made ship can carry 1,300 passengers and entirely powered by hydroelectric electricity from China's Three Gorges Dam
Turkiye's daily power consumption up 1,7% on March 29
- Electricity exports amount to 12,730 megawatt-hours and imports total 11,881 megawatt-hours
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Oil claws back after losing 8% over lingering fears of further sanctions on Russia
-Adding upward pressure on prices, US crude oil inventories are estimated to fall by 3 million barrels in compared to 1.6 million barrels fall
Brent oil drops below $105 over ‘constructive’ Russia-Ukraine peace talks
- Russia pledges to significantly decrease its military activities on Kyiv and northern Ukrainian city of Chernihiv, easing concerns over supply disruptions
Ruling out Russia’s removal from OPEC+, Saudi minister says group puts politics aside
- Major oil producers of the OPEC+ group, of which Russia is a member, is scheduled to convene on Thursday
Oil down over weakening demand in China, ongoing Russia-Ukraine talks
- Investors are monitoring upcoming meeting of major oil producers of OPEC+ group, of which Russia is a member
Oil down over lingering demand fears from Chinese lockdown
-Home to over 28 million people, Shanghai will be locked down for eight days
Spot market natural gas prices for Thursday, March 24
- 1,000 cubic meters of natural gas on spot market costs 9,709.71 Turkish liras
Spot market electricity prices for Saturday, March 26
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 591.77 million Turkish liras
Germany to fully cut Russian hydrocarbon dependence by autumn
- German economy minister describes move as “first important milestones to free Germany from the grip of Russian imports”
Oil declines from market relief that EU sanctions exclude Russian oil
- As developments from the Russia-Ukraine war remain central to markets, Western countries announce new sanctions on Russia
Turkiye's daily power consumption down 0.94% on March 24
- Electricity exports amount to 10,365 megawatt-hours and imports total 10,421 megawatt-hours
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Germany ill-prepared for sanctions on Russian oil sector: Minister
- German economy minister warns of supply shortages and inflation next winter if Russian oil if fully banned
Brent surpasses $120 over oil flow outage in CPC pipeline in Kazakhstan
- Restoring storm-damaged berths may take more than a month, says CPC operators
Oil prices extend rises on supply woes from talks of Russian oil ban
- US President Joe Biden is due to participate in a series of meetings in Brussels, which could include EU oil export ban on Russia
Fitch raises oil forecast to reflect rising risk of supply disruptions
- Brent oil price for 2022 is revised up to average $100 a barrel from $70 a barrel
Oil climbs on supply fears after Saudi oil facility attack, Russian oil ban risk
- Although EU considers imposing ban on Russian oil sector, not all EU members are ready to brace shock after such an embargo
Oil could hit $300 per barrel if EU sanctions Russian oil: Russian PM
- Russia is considering ban on US uranium imports in retaliation to sanctions, warns Russian deputy prime minister
Russia warns EU of serious consequences if Russian oil exports are banned
- Europe relies on Russia for a quarter of crude oil imports, which last year totaled close to €5.8 billion
Saudi Aramco's income more than doubles amid plans to raise output by 2027
- Company to raise crude production capacity by 2.8 million barrels per day by 2027
Oil jumps amid reports of possible EU sanctions on Russian oil sector
- International Energy Agency last week suggested that 10 practical, energy efficiency measures could cut 2.7 million barrels per day of oil
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TotalEnergies completes withdrawal from Myanmar
- Company bases its decision on deteriorating human rights situation since coup of February 2021
Oil up as Int. Energy Agency warns of supply shortages in April
- Prices also come under downward pressure after US Energy Information Administration reported unexpected rise in US crude oil stocks
US says deal to return to Iran nuclear agreement 'close'
- 'We do think the remaining issues can be bridged,' says State Dept. spokesman Ned Price
Equinor to raise natural gas production to meet European demand
- Company expects around 1.4 billion cubic meters more of production to meet demand of around 1.4 million European homes
Nearly 3 million barrels per day of Russian oil could be shut in April
- International Energy Agency says losses could increase should restrictions or public condemnation escalate
Oil prices show gains on hopes of successful outcome to Ukraine-Russia talks
- Prices drop as low as $96.44 a barrel during previous session
Japan pushes UAE to stabilize international oil supply amid Russian cut
- Prime Minister Kishida seeks 'proactive contributions' from UAE in phone call with Crown Prince Al Nahyan
Norway's Equinor to stop trade in Russian oil and oil products
- Decision comes after earlier move to start exit from joint ventures in Russia and halt new investments there
Brent drops below $100 over hopes of deal in Ukraine, COVID fears in China
- China's daily virus figures surge to two-year high, prompting lockdown measures under its policy of 'zero-COVID'
Japan to join G7 initiative to reduce dependency on Russian energy
- Country will also reconsider its stakes in oil and LNG projects on Russia's far eastern Sakhalin Island, Japanese minister says
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Oil extend losses due to easing tension in Ukraine, COVID fears in China
- China's daily virus figures surge to two-year high, prompting lockdown measures under its policy of 'zero-COVID'
Oil down on easing supply fears with upcoming talks between Russia and Ukraine
- Price fall comes after highly volatile market last week, with Brent hitting over $139 a barrel
Oil shows wide price fluctuations in week ending Mar. 11 over supply woes
- Prices became volatile after US announcement on Sunday that it was considering banning Russian oil
Aramco to develop major refinery, petrochemical complex in China
- Liquids-to-chemicals complex in Panjin, to start in 2024, will help will help meet China's growing demand for energy and chemical products
Oil edges higher as supply risks endure over Russia-Ukraine war
- Highly volatile prices with ongoing Russia-Ukraine war are capped with prospect of no further oil embargoes
UAE energy minister expresses commitment to OPEC output plan
- Show of support from UAE minister for OPEC plan comes after country’s ambassador to US said UEA supports production rise from OPEC+ group
Oil prices gain after US move to ban Russian oil
- Following US announcement of plan to ban Russian oil, prices jump nearly 5% despite prospect of limited impact on US supplies
EU commission proposes plan to phase out its reliance on Russian fossil fuels
- REPowerEU plan will increase resilience of the EU-wide energy system to phase out EU's dependence on fossil fuels from Russia before 2030
Turkiye's daily power consumption up 14.8% on March 7
- Electricity exports amount to 7,258 megawatt-hours and imports total 6,607 megawatt-hours