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Tag: energy news

Venezuelan oil exports to EU set to resume after two years

Caracas (The Times Groupe)- Refinitiv Eikon data showed on Friday that Eni (ENI.MI), with a 650,000-barrel cargo of Venezuelan oil in tow, is about to sail with the first export of crude oil from the U.S.-sanctioned country to Europe in two years.

Gazprom reduces gas supplies to Italy, France cut off

Rome (The Times Groupe)- Italian energy company Eni announced Friday that Gazprom will cut its gas supplies to Italy by 50%.

Turkey to start transferring natural gas from Black Sea in 2023

Ankara (The Times Groupe)- Turkey will begin transferring 10 million cubic meters (mcm) of natural gas daily from the Sakarya Gas Field in the Black Sea to the national transmission system in the first quarter of 2023, Turkish President Recep Tayyip Erdogan said on Monday.

Oil prices hit 3 month highs during week ending June 10

World (The Times Groupe)- Oil prices hit three month highs for the week ending June 10, driven by rising fuel demand in the US with the start of the travel season and an increase in China following COVID19 restrictions.

Oil down over demand woes as China goes under fresh lockdowns

World (The Times Groupe)- Oil prices declined on Friday as a result of China's new zero-COVID policy, with both benchmarks still at 3-month highs.

Oil up over rising demand in China versus tight supply fears

World (The Times Groupe)- Oil prices rose on Tuesday due to tight supply concerns as Chinese demand is likely to rebound from COVID19 restrictions, while OPEC+ output levels are believed to fall short of demand.

Oil prices drop after OPEC+ decision to raise July production

Vienna (The Times Groupe)- Oil prices fell on Friday as OPEC+ countries agreed to increase July production by 648,000 barrels per day (bpd).

EU leaders endorse $321B plan to replace Russian fossil fuels

Brussels (The Times Groupe)- European leaders endorsed on Tuesday the European Commission's $321 billion plan to replace Russian fossil fuels.

Germany is keen to pursue gas projects with Senegal

Dakar (The Times Groupe)- German Chancellor Olaf Scholz said on Sunday on his first trip to Africa that Germany will pursue gas and renewable energy projects with Senegal in the wake of the conflict in Ukraine.

Crude oil prices little changed as recession worry offsets higher demand outlook

Huston (The Times Groupe)- Oil prices were little changed on Monday amid worries over a possible recession and the prospect of higher fuel demand with the start of the U.S. driving season and Shanghai's plans to reopen after two months of quarantines due to the Coronavirus.

Russia says sanctions will not affect gas payments from Europe, bringing down gas prices

Europe (The Times Groupe)- The price of natural gas per megawatt-hour in Europe decreased by 4.3% on Tuesday amid reports that Russia told European buyers that they could pay for gas without violating sanctions.

EU given Russia €35 billion since beginning of the war

Strasbourg (Times Of Ocean)- European foreign policy chief Josep Borrell said Wednesday Europe had sent President Vladimir Putin a total of €35 billion since the beginning of the conflict in February. He has proposed doubling the amount allocated by the EU for weapons and other aid to Ukraine.

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