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Oil prices drop as markets fear looming US recession

- Investors believe US rate hikes could stall economic recovery and negatively affect US fuel demand

24.06.2022 Oil , Americas

8% growth in global energy investment insufficient to tackle energy crisis: IEA

- Global energy investment to grow 8% in 2022 driven by renewables and energy efficiency

23.06.2022 Oil , Renewable , Finance , International Organization , Europe , Asia

Oil down over Biden’s fuel tax relief pledge

- Biden says gasoline tax can save Americans up to $0.184 per gallon

23.06.2022 Oil , World

Russia becomes China’s largest oil supplier

- World's biggest crude oil importer country purchased about 8.42 million tonnes of crude oil in May, up 55% from May 2021

22.06.2022 Oil , World , Eurasia , Asia

Oil up with persistent supply side risks

-Libya’s oil output falls to 100,000 barrels from average of 1.2 million barrels a day just last year, fueling supply concerns

22.06.2022 Oil , Finance , Eurasia , Americas

Global energy giants join for carbon capture, storage project in Dutch North Sea

- Large-scale CCS project in Dutch North Sea has potential to store 120-150 million tonnes of carbon

22.06.2022 Natural Gas , Oil , Renewable , International Relations , Energy Projects , Europe

ConocoPhillips joins as 3rd partner in Qatar's North Field East LNG expansion

- North Field East project will expand Qatar's LNG export capacity from current 77 million tons to 110 million tons per annum

21.06.2022 Oil , Lng/Lpg , Middle East-Africa , General

Oil up as supply fears overshadow global recession woes

- Libya's crude oil production drops to less than 200,000 barrels per day amid ongoing shutdown of ports and facilities

20.06.2022 Oil , World

Libya's oil output drops amid closures

- Oil production drops to less than 200,000 barrels per day

20.06.2022 Oil , World , Middle East-Africa

US oil rig count up by 4 for week ending June 17

- Number of US oil rigs rise by 211 compared to one year ago

20.06.2022 Oil , Americas , General

Oil prices tumble during week ending June 17

- Fading hopes on possible deal between Iran and US fan supply woes, limiting further losses

18.06.2022 Oil , World

Oil down as multiple interest rate hikes raise demand woes

- Reports that US is placing new sanctions on Iran limited further losses

18.06.2022 Oil , World

Russia to raise oil output to pre-war levels by next month: Novak

-Russian Deputy Prime Minister says his country can produce more than 10 million barrels per day as of July

17.06.2022 Oil , World , Eurasia

US crude oil inventories up 0.5% for week ending June 10

- Commercial crude oil stocks rise by 2 million barrels, against market expectation of 1.2 million barrel draw

16.06.2022 Oil , Americas

Oil prices increase over tight global supply

- Tight global supply against an increase in fuel demand push prices higher

16.06.2022 Oil , Asia , Americas

EU's sanction on Russian oil boomerangs, boosts global prices to Moscow's benefit

- Russian oil would still be bought by other consumers, but at discounted prices, says experts

15.06.2022 Oil , World

Global oil supply up in May with non-OPEC+ output increases

- World oil demand to reach 101.6 million barrels per day in 2023, surpassing pre-pandemic levels, says IEA

15.06.2022 Oil , World

Oil up as Fed expected to press on historic interest rate decision

- Fanning demand worries, API estimates 736,000 barrel increase in US crude oil inventories last week from market expectation of 1.2M-barrel draw

15.06.2022 Oil , World

OPEC keeps oil demand growth forecast stable for 2022

- Global oil supply in May decreased by around 150,000 bpd compared to previous month

15.06.2022 Oil , World

Fitch raises oil forecast to reflect supply disruptions, rising demand

- Brent oil price forecast for 2022 is revised up to average $105 a barrel from $100 a barrel

15.06.2022 Oil , Finance , International Organization

Russia becomes India’s second-largest oil supplier

- Iraq remained top supplier to India in May and Saudi Arabia is now third biggest supplier

14.06.2022 Oil , World , Eurasia

Oil prices up over tight supply worries

- Production loss in Libya, stalled Iran nuke deal put upward pressure on prices

14.06.2022 Oil , World

US still planning for Biden visit to Israel, Saudi Arabia

- 'When the President's ready to make that announcement, that's when we will,' says White House

14.06.2022 Oil , World , Americas , Middle East-Africa

Oil prices drop as China's Covid-19 measures cue lower demand

- Country insistent on implementing strict zero-Covid policy

14.06.2022 Oil , Asia

If Russian oil exports fall, inflation could surge, warns Central Bank head

- A lot to depend on how much oil country will be able to redirect to other markets, says Elvira Nabiullina

13.06.2022 Oil , World , Eurasia

Biden says Exxon 'made more money than God this year' amid record gas prices

- 'Why aren't they drilling? Because they make more money not producing more oil,' says US president

13.06.2022 Oil , World , Americas

Oil prices hit 3 month highs during week ending June 10

- Prices increase with fears of global supply failing short of meeting demand

11.06.2022 Oil , Asia , Americas

EU ban on Russian oil to have limited impact on global oil market: experts

- Many experts believe that there is no real problem with replacing lost Russian oil as crude oil can be shipped or transported by tankers

11.06.2022 Oil , World

Oil down over demand woes as China goes under fresh lockdowns

-Despite strict COVID restrictions in China, country’s crude oil imports surged roughly 12% in May from a low base a year earlier, easing demand concerns

10.06.2022 Oil , World

Can Venezuela be alternative to compensate lost Russian oil?

- Although US-sanctioned Venezuelan oil has brought on table to meet EU states’ crude oil need, country’s oil infrastructure is unlikely to be viable alternative, experts say

11.06.2022 Oil , International Relations , Europe , Americas

Oil prices retreat after hitting three month highs

- New lockdown measures in parts of Shanghai push prices down

10.06.2022 Oil , International Relations , Asia , Americas

US crude oil inventories up 0.5% for week ending June 3

- Commercial crude oil stocks rise by 2 million barrels, against market expectation of 1.8 million barrel draw

09.06.2022 Oil , Americas

US energy agency revises oil price forecast up for 2022

- International benchmark Brent crude now estimated to average $107.37 per barrel in 2022 and $97.24 per barrel in 2023

10.06.2022 Oil , Americas

Oil up over bettering demand hopes in China, stalled Iran nuke talks

-Although World Bank slashes its annual growth forecast for China, easing COVID restrictions boosting hopes for higher demand

08.06.2022 Oil , World

Oil up over rising demand in China versus tight supply fears

-Unfolding sanctions on Russian oil and gas exports are putting extra pressure on prices as supply is getting tighter

08.06.2022 Oil , World

Oil jumps as Saudi price hike decision fuels supply concerns

-Rebounding demand in Asia after removal of COVID restrictions and start of driving season in US come amid tight supply concerns

07.06.2022 Oil , World

US oil rig count remains unchanged in week ending June 3

- Number of US oil rigs rise by 215 compared to one year ago

04.06.2022 Oil , Americas

Oil prices fluctuate on week ending June 3 with scarce global supply fears

- Oil prices influenced by EU's partial ban on Russian crude oil, China ending lockdown in Shanghai and OPEC+ increasing oil output for July

06.06.2022 Oil , Finance , World , Europe

US crude oil inventories down 1.2% for week ending May 27

- Commercial crude oil stocks fall by 5.1 million barrels, against market expectation of 1.18 million barrel draw

03.06.2022 Oil , Americas

Oil prices drop over OPEC+ decision to raise July production

06.06.2022 Oil , Europe , Middle East-Africa

OPEC+ speeds up production plan

- Group to increase output by 648,000 barrels in July

03.06.2022 Oil , World

Oil prices fall ahead of OPEC+ meeting

- US crude oil stocks decline by 1.18 million barrels for week ended May 26, American Petroleum Institute data showed

03.06.2022 Oil , International Organization , Europe , Middle East-Africa

Türkiye's oil imports up 14.3% in March 2022

- Crude oil imports jump 11.2% to 2.66 million tons, latest data shows

03.06.2022 Oil , Turkey

Ban on Russian crude to have negative impact for global market: Kremlin Spokesperson

- Russia supplies 4.5 million barrels of oil per day to Europe

01.06.2022 Oil , International Relations , Europe , Eurasia

27th Caspian Oil & Gas Expo kicks off in Baku

- Exhibition takes places on sidelines of Baku Energy Week

01.06.2022 Natural Gas , Oil , International Organization , Eurasia

Brent price could reach $150 per barrel on Russia-Ukraine war, oil import embargo

- Oil prices to stay high as long as war continues, experts say

02.06.2022 Oil , World , Europe , Americas , Middle East-Africa

Oil prices rise as fear of tight global supply grows

- Energy and oil ministers of OPEC and 10 non-OPEC oil producing countries led by Russia to meet on Thursday

02.06.2022 Oil , International Relations , Eurasia , Asia

27th Caspian Oil & Gas Expo to host nearly 250 firms in Baku on June 1-3

- Major energy firms and high profile participants from several countries will convene at event to observe executive talks on global energy outlook

31.05.2022 Natural Gas , Oil , International Organization , Eurasia

Turkiye's energy import bill up 135.1% in April

- Country's crude oil imports increase by 17.6% compared to April 2021

01.06.2022 Electricity , Oil , Turkey

Oil prices rise as EU agrees to ban Russian crude oil

- EU to cut 90% of oil imports from Russia by end of 2022

01.06.2022 Oil , International Relations , Europe , Eurasia

EU leaders agree to exempt Hungary from Russian oil embargo

- Leaders approve excluding Russia’s Sberbank from SWIFT system, granting $9.6 billion in credit to Ukraine

31.05.2022 Oil , Europe , Eurasia

Oil prices rise ahead of EU meeting to discuss Russia sanctions

- Depreciation in US dollar against other currencies increases purchasing power of oil thus increasing prices

31.05.2022 Oil , International Relations , International Organization , Europe , Eurasia

Oil prices increase 2% in week ending May 27

- Demand concerns in China, better demand hopes in US ahead of summer driving season and EU efforts to ban Russian oil & gas are factors impacting prices

30.05.2022 Oil , World

Oil slightly falls despite weaker US dollar and upcoming US driving season

- Upcoming driving season starting in June will see some 39 million Americans travel, pushing demand and prices up

28.05.2022 Oil , World

Top Biden officials in Saudi Arabia for talks on oil ahead of planned visit

- White House Middle East coordinator and State Department’s energy envoy arrived in Saudi Arabia on Tuesday to meet with senior Saudi officials

27.05.2022 Oil , World , Americas , Middle East-Africa

UK introduces tax on oil and gas companies

- Tax, also referred to as windfall tax, is to retrieve some profits of oil and gas producers made as a result of high energy prices

27.05.2022 Natural Gas , Oil , Finance , Europe

US sanctions Russia-backed Iranian oil smuggling, money laundering network

- Network led by officials of Iran's Revolutionary Guards, backed by senior levels of Russian government, says US Treasury

27.05.2022 Oil , Americas

US crude oil inventories down 0.2% for week ending May 20

- Commercial crude oil stocks fall by 1 million barrels, against market expectation of 690,000 barrel draw

26.05.2022 Oil , Americas

Oil prices up with tight global supply

- EU agreement on Russian crude ban could be finalized by May 30, European Council President Charles Michel says

27.05.2022 Oil , International Relations , Eurasia , Americas

Rising energy prices could prompt demand for coal: Int. Energy Agency head

- Coal-related investments could also affect climate targets, warns Fatih Birol

26.05.2022 Oil , Coal , International Organization , World

Oil up over hopes of stronger demand, concerns over tighter supply

- Price upticks limited as American Petroleum Institute predicts rise in US crude oil stockpiles

26.05.2022 Oil , World

Oil down with stalled EU ban on Russian oil

- Prices see further downward support with likelihood that China will continue pandemic measures

25.05.2022 Oil , World

Wintershall Dea divests shares in Norwegian oil fields

- Company opts to divest shares in efforts to strengthen its position in gas and carbon management

23.05.2022 Oil , Europe , General

bp, mining company Rio Tinto ink deal for one-year trial of marine biofuels

- Companies say bp-manufactured B30 biofuel blend can reduce lifecycle carbon dioxide emissions by up to 26% compared to standard marine fuel oil

24.05.2022 Oil , Geothermal/Biomass , World

Oil up with rising hopes of stronger demand in US, China

-China, strictly clinging to zero-COVID policy, is due to ease some restrictions in Shanghai while rising cases in Beijing cast doubts over demand rebound

24.05.2022 Oil , World

US oil rig count up by 13 for week ending May 20

- Number of US oil rigs rises by 220 compared to one year ago

23.05.2022 Oil

Oil prices steady amid prospect of increase in Chinese demand in week ending May 20

- Oil edges higher as EU focuses on finalizing proposed ban on Russian crude

20.05.2022 Oil , Finance , General

Brent oil prices slightly up on hopes of higher demand due to peak season

- Currently declining cases in Shanghai prompted hopes for better oil demand in China

20.05.2022 Oil , Asia , Americas , General

Brent oil prices up on hope of stronger Chinese demand

- Declining Omicron cases in Shanghai boosts hopes for rising oil demand

19.05.2022 Oil , Finance , Asia , Americas

US crude oil inventories down 0.8% for week ending May 13

- Commercial crude oil stocks fall by 3.4 million barrels, against market expectation of 1.5 million-barrel draw

20.05.2022 Oil , Finance

Oil prices up as improving COVID situation in China boosts demand hopes

- Prices see more support as American Petroleum Institute predicts drop in US crude oil stockpiles

18.05.2022 Oil , World

Italy’s ENI opens rubles bank account for Russian gas payments

- New payment procedure ‘not incompatible’ with EU sanctions

18.05.2022 Oil , News from companies , Europe

Russia to shift energy resources to non-European regions: Putin

- Europe's sanctions will harm European economy and increase Russia's oil and natural gas revenues, Putin says

18.05.2022 Natural Gas , Oil , Europe , Eurasia

Brent oil prices rise despite surging dollar value

- Unusual upward movement of Brent and US dollar in tandem as investors see latter as safer investment, says Energy Info. Admin.

18.05.2022 Oil , World

Oil down as EU fails to agree on banning Russian oil exports

- Weak Chinese economic data also exerts downward pressure on prices

17.05.2022 Oil , World

Saudi Arabia plans to boost output by 1 million barrels per day: Energy minister

- Abdulaziz bin Salman says his country could maintain production at over 13 million barrels per day should global oil market require it

17.05.2022 Oil , World , Middle East-Africa

Turkiye's fourth drilling ship to arrive at Tasucu Port in Mersin on May 19

- After two-month stint in Mersin, the ship will be put to work in Eastern Mediterranean Sea

17.05.2022 Natural Gas , Oil , Renewable , Turkey

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

17.05.2022 Oil , World

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

16.05.2022 Oil , World , Middle East-Africa

US oil rig count up by 6 for week ending May 13

- Number of US oil rigs rises by 211 compared to one year ago

15.05.2022 Oil , Americas , General

Oil prices battle supply concerns, recession fears in week ending May 13

- Oil starts week low as China fights COVID-19 leading to lower demand but ends higher as EU focuses on finalizing proposed ban on Russian crude

13.05.2022 Oil , Europe

Supply fears from pending EU crude ban push oil prices higher

- Drop in global oil supply fuels concerns of scarce production, driving prices higher

14.05.2022 Oil , International Relations , Europe , Eurasia

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

13.05.2022 Oil , International Organization , World

OPEC revises down oil demand forecast for 2022

- Downward demand growth revisions take account of economic forecasts and other developments that could impact oil requirements, OPEC says

14.05.2022 Oil , World

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

12.05.2022 Oil , News from companies , World

Global oil supply down in April with Russian supplies shut-in

- Demand to reach around 99.4 million barrels per day in 2022, marking year-on-year rise of 1.8 million barrels per day

13.05.2022 Oil , World

US crude oil inventories up 2% for week ending May 6

- Commercial crude oil stocks increase by 8.5 million barrels, against market expectation of 457,000-barrel draw

12.05.2022 Oil , Americas

Oil and gas companies gamble on emission mitigation technologies

- Net zero targets are not enough for companies to be aligned with Paris, report warns

12.05.2022 Natural Gas , Oil , International Relations , Europe , Asia , Americas

Oil prices fall as global inflation rates solicit concern

- Ongoing Covid-19 lockdowns in China, world's top crude importer, continue to weigh on oil prices as demand for fuel drops

12.05.2022 Oil , Europe , Asia , Americas

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

11.05.2022 Oil , World

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

11.05.2022 Oil , World , Asia

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

11.05.2022 Oil , World

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

10.05.2022 Oil , World , Europe

Turkiye's oil imports up 31.1% in February 2022

- Crude oil imports jump 46.9% to 2.34 million tons, latest data shows

09.05.2022 Oil , Turkey

US oil rig count up by 5 for week ending May 6

- Number of US oil rigs rises by 213 compared to one year ago

09.05.2022 Oil , Americas

Oil gains around 6% during week ending May 6 on supply fears

- European Commission proposal to ban Russian oil, reluctance of OPEC+ producers to add stock to market supports prices

08.05.2022 Oil , World

Russian oil import cuts to EU will be difficult in short-term: experts

- Crude oil volumes at risk from a complete EU embargo are estimated to be around 3.0 million bpd

08.05.2022 Oil , Energy Diplomacy , Europe , Eurasia

Oil up over sustained supply worries due to EU proposal to cut Russian oil

- OPEC+'s decision to maintain same production plan for June also supports prices

06.05.2022 Oil , World

OPEC+ to maintain same production plan for June

- Next meeting of OPEC and non-OPEC members scheduled for June 2

06.05.2022 Oil , World

Oil prices up over proposed ban on Russian gas supplies

- Investors are monitoring OPEC+ group meeting scheduled later Thursday

06.05.2022 Oil , World

US crude oil inventories up 0.3% for week ending April 29

- Commercial crude oil stocks increase by 1.3 million barrels, against market expectation of 1.16 million-barrel drop

05.05.2022 Oil , Americas

Oil prices push $110 after EU proposes Russian oil ban

- Ban on crude oil to enter into force six months after adoption, and prohibit refined oil products by end of the year

05.05.2022 Oil , International Relations , Europe

Oil prices rise on larger than expected drop in US oil stocks

- European Commission expected to announce details of EU's sanction plans against Russia later today

04.05.2022 Oil , Europe , Eurasia , Americas

EU Commission chief proposes oil embargo on Russia

- 6th round of sanctions would hit oil imports, banks, military officials responsible for Bucha massacre

05.05.2022 Oil , International Relations , Europe , Eurasia

OMV sells filling stations in Germany for €485 million

- OMV targets achieving net zero by 2050

04.05.2022 Transportation/Fuel Oil , Projects , Invesments , Europe

Lithuania to install nearly 200 sirens to warn about accidents in Belarus NPP

Court in Japan blocks plan to restart nuclear plant

Japan inches closer to starting contentious nuclear waste dump

US, Armenia sign civil nuclear pact, launch strategic dialogue

Spot market electricity prices for Wednesday, Aug. 11

Turkey's daily power consumption up 2.97% on July 16

Spot market electricity prices for Tuesday, July 13

Turkey's daily power consumption down 7.96% on July 11

France likely to restart coal-fired power plant to deal with energy crisis fueled by Ukraine war

Experts warn of climate risks amid return to coal by some EU countries

Signaling shift to coal, EU explores alternatives to Russian supplies

Germany turns to coal as Russia curtails natural gas shipments

Spot market natural gas prices for Monday, Aug. 9

Eni announces oil discovery in Western Desert of Egypt

US produces, consumes record high natural gas in 2019

Nigeria's president launches new gas pipeline project

Spot market natural gas prices for Thursday, July 1

Spot market natural gas prices for Monday, March 8

Spot market natural gas prices for Sunday Aug. 23

Spot market natural gas prices for Monday, March 2

Spot market natural gas prices for Thursday, July 8

Spot market natural gas prices for Wednesday, May 5

Spot market natural gas prices for Monday, May 3

Spot market natural gas prices for Tuesday, April 27

In 1 year, Turkish regasification ship transfers 2.1B cubic meters of natural gas to grid

ExxonMobil, QatarEnergy ink deal for LNG capacity expansion

Algerian LNG vessel to arrive in Türkiye on June 23

ConocoPhillips joins as 3rd partner in Qatar's North Field East LNG expansion

Oil prices increase with tight inventories

Oil prices up by over 2% for week ending April 2

Indonesia's Balongan refinery rocked by massive blast

ExxonMobil makes first discovery offshore Suriname

Oil prices increase with tight inventories

Oil prices down after rise in US oil inventories

US oil rig count rises by 2 for week ending Jan. 22

ExxonMobil makes first discovery offshore Suriname

Aramco to develop major refinery, petrochemical complex in China

Saudi Aramco signs crude supply deal with Egyptian petrochemicals firm

Turkey's Tupras to invest $10B by 2050 as part of Strategic Transition Plan

Russian petchem giant SIBUR to boost investments to meet greater Turkish demand

OMV sells filling stations in Germany for €485 million

Philippines' inflation hits government target amid high fuel prices

Energy, food crises growing in UK, expert says

UK considers army assistance to deliver fuel at pumps amid shortage

Global offshore wind project capacity nearly doubles in 12 months

Vattenfall invests in 2 offshore wind projects outside Gothenburg

American TPI Composites plans to invest $100 million for offshore wind blade factory in Türkiye

UK launches floating offshore wind task force

Women solar engineers bring light to remote Zanzibar villages in Tanzania

Cero Generation combines power and agriculture in new solar plant in Italy

Vodafone to power UK operations with local solar farm

Renewables set to break new record in 2022 despite supply chain challenges

Hydro provides majority of Norway's power in March

UAE seen as candidate to become EU’s hydrogen supplier

President Erdogan inaugurates huge Ilisu Dam in southeastern Turkey

Ethiopia: TPLF on move to disrupt Ethiopian mega dam on Blue Nile

bp, mining company Rio Tinto ink deal for one-year trial of marine biofuels

World Bank's $300 million loan to boost Turkey's geothermal energy

Solid waste to be turned into resources in Gaziantep by UNDP supported plant

Turkey accounts for over one tenth of global geothermal capacity

Türkiye plans $3 billion investment for electric cars, renewable energy

Cost of low carbon energy sources to "structurally and systematically" fall

Iberdrola interested in developing more sustainable grids

Shell and SGH Energy to develop Crux gas project in Western Australia

Türkiye plans $3 billion investment for electric cars, renewable energy

Energy efficiency paves emergency exit from energy crisis if action accelerated

bp and Linde to jointly develop carbon capture project in Texas

Southeast Asia needs $190B a year by 2030 to meet climate goals

Spot market natural gas prices for Thursday, May 5

Nickel-free tech could boost EV uptake due to surging nickel costs

Nickel trade suspended on London Metal Exchange due to systems error

Spot market natural gas prices for Tuesday, Feb. 22

Oil up on US inventory fall, UK vaccine approval

Fitch reduces oil price forecast due to higher supply

S. Arabia, Iraq discuss efforts to stabilize oil market

US crude oil inventories fall for week ending Aug. 14

Spot market electricity prices for Friday, Dec. 4

24/7 power with Turkey’s new mobile monitoring system

Turkey's daily power consumption up 3.28% on Sept. 8

Sudan: Flashpoint Ethiopian dam not related to floods