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Oil & Gas

Interest surges in Turkmen gas

Turkmenistan's huge gas reserves have been generating considerable interest from potential importers following Ashgabat's announcement in late July that it is open to the development...

Turkmenistan signals major change in energy-export stance

A big shift is brewing for Caspian Basin energy exports. In a diplomatic about-face, Turkmenistan has signaled its readiness to develop a Trans-Caspian pipeline...

Energy supply giants Azerbaijan & Kazakhstan mull green economy options

Azerbaijan will continue being a reliable exporter of traditional energy sources to Europe but the South Caucasus nation plans to also advance the development...

Don’t roll out the barrels: Oil prices fall in view of slow recovery

Oil prices were down on April 24 as traders believe economic recovery will be slower than expected hurting global oil demand. A decision by...

EU plan to centralize gas purchases near impossible to implement

The global gas supply market will be much tighter this year than it was in 2022. The need for the EU to buy more gas, especially more liquified natural gas, from elsewhere will be greater.

World better prepared for Russian energy weapon in 2023

China’s demand for energy, the amount of Russian oil that will be cut from global supply will be key factors which will determine where the oil price trades in 2023.

Oil prices shrug off cap as Russia fires back with price floor threat

Oil markets will likely stay volatile in the near term amid uncertainty over the impact on Russian output from the EU's ban, headlines on China's COVID policy and central bank movements in the U.S. and Europe.

Breaking contract, Russia turns off gas for Bulgaria, Poland

Russian gas monopoly Gazprom said on April 27 Gazprom Export has fully halted gas supplies to Bulgaria’s Bulgargaz and Poland’s PGNiG until the payments...

Turning off Russian gas, Greece-Cyprus-Israel think electric too

The Energy Ministers of Israel, Greece and Cyprus discussed in a tripartite meeting in Jerusalem on April 11 the effects of Russia’s invasion in...

For now, Slovakia sees NATO, not EU forces, Russian firewall

Slovakia favors the European Union’s collective military aspirations, but NATO has become even more important in guaranteeing the bloc’s security, Slovakia’s Foreign Minister Ivan...

Countering loss of Russian oil over penalties, US opens reserve pump

After consultation with allies and partners, US President Joe Biden announced on March 31 the largest release of oil reserves in history, putting one...

TAP pipeline transports first 10 bcm of Azeri natural gas to Europe

The Trans Adriatic Pipeline AG has announced that a total of 10 billion cubic meters (bcm) of natural gas from Azerbaijan has now entered...

Russia’s invasion of Ukraine boosts East Med region role in EU energy security

In light of Russia’s invasion of Ukraine and EU’s renewed effort to cut reliance on Russia, the East Mediterranean could play an increased role...

The economic bearpit – When “over there” becomes “over here”

An apology – with a ghastly diet of death, destruction and depravity currently raging around us, it may seem callous to examine the economic...

There will be oil: US, IEA counter Putin’s war

The United States and the other 30 member countries of the International Energy Agency agreed on March 1 to release 60 million barrels of...

After Russian hammer in Ukraine, sanctions talk brings sickle to oil prices

Oil prices slipped on February 25 after sharp rises early in the session as traders were concerned that sanctions against Moscow following Russia’s invasion...

EU says ready for Russian energy weapon

The European Union said on February 16 the bloc is ready in case the Russian leadership decides to weaponize the energy issue.In a speech...

What if gas stops flowing through Ukraine?

Russia continues to keep more than 100,000 troops on its long border with Ukraine and carry out military exercises in Belarus. The US has,...

Despite heavy imports, France still biggest electricity exporter in Europe

France maintained its position as the biggest net exporter of power in Europe in the second half of 2021, despite an extreme reliance on...

EU, US discuss energy security as Russia-Ukraine tensions rise

The United States will do everything it can to help ease any disruptions to Europe’s energy supply, US Secretary of State Antony Blinken said...

Slow pump: OPEC+ will raise supply, can’t cool prices

The Organization of Petroleum Exporting Countries (OPEC) and its allies led by Russia, a group known as OPEC+, said on February 2 the ministers...

EU Commission declares gas, nuclear can be sustainable

The European Commission presented on February 2 a controversial Taxonomy Complementary Climate Delegated Act on climate change mitigation and adaptation covering certain gas and...

Greece’s Energean sees first gas from Israel’s Karish by Q3

Energean’s floating production storage and offloading (FPSO) for the Greek company’s flagship Karish project offshore Israel is expected to be ready for sail-away by...

EU gas prices on fire, fear of Russia invading Ukraine hot button

Wholesale gas prices in the EU rose to record levels in the third quarter of 2021, influenced by global gas markets, according to the...

EU to probe Gazprom’s role in energy crisis

With high energy prices hurting consumers in Europe, the European Commission is currently looking into all allegations of possible anti-competitive conduct by companies producing...

Biden’s Greece nominee survives Senate hearing

George Tsunis, President Joe Biden’s nominee as next ambassador to Greece, survived his January 12 hearing with the Democratic-majority Senate Foreign Relations Committee (SFRC),...

Black Sea Bank loan to support Energean’s Epsilon field in Greece’s Prinos

The Black Sea Trade and Development Bank (BSTDB) is providing a loan of up to €90.5 million to Energean Oil and Gas, the Greek...

Impact of high energy prices on industry in the East Med region

Europe is still roiling under the impact of high energy prices that do not seem to be going away any time soon. Dutch hub...

EU taxonomy: No greenwashing of environment damaging activities

The introduction of the taxonomy is a great success for us Greens, future-oriented companies and civil society forces working on it for years. But...

Gazing into the Energy Crystal Ball for 2022

The Covid pandemic and geopolitical issues are likely to be key issues for the energy prices in 2022.“What we have to have when we’re...

High gas prices push up electricity cost in EU

High energy prices in recent months have drawn attention from the European Commission, highlighting the importance of energy security, especially in times when global...

MEPs reach deal with Council on EU-backed energy projects

The updated rules to select which energy projects will receive EU support were informally agreed between Members of the European Parliament and the Slovenian...

New EU framework to decarbonize gas markets, promote hydrogen, cut methane emissions

The European Commission adopted on December 15 a set of legislative proposals to decarbonise the EU gas market by facilitating the uptake of renewable...

Israel, Greece, Cyprus seeing green energy future

Israeli Prime Minister Naftali Bennett, Greek Prime Minister Kyriakos Mitsotakis and Cypriot President Nicos Anastasiades met in Jerusalem on December 7 where they reaffirmed...

Oil climbs as OPEC+ may delay further supply recovery if there is a slump in demand

Oil prices climbed on December 3 after the Organization of the Petroleum Exporting Countries (OPEC), and oil producing allies led by Russia, a grouping...

New US sanctions against Nord Stream 2 to keep pressure on Russia

The United States on November 22 imposed new sanctions on the controversial Nord Stream 2 natural gas pipeline between Russia and Germany.The US, Ukraine...

Tackling oil prices, US to release 50 mln barrels of crude from the Strategic Petroleum Reserve

In response to the highest oil prices in seven years, the Biden administration has taken a decisive action to address lack of supply and...

Germany suspends Nord Stream 2 certification delaying commissioning well into 2022

Germany’s Federal Network Agency (BnetzA) suspended its certification of the Nord Stream 2 natural gas pipeline from Russia to Germany on November 16 which...

Lukashenko would not dare cut gas supplies to EU without Kremlin’s permission

Belarus’ authoritarian President Alexander Lukashenko threatened to cut gas supplies to Europe transiting his country if the European Union imposed further sanctions in response...

EU Council prolongs sanctions against Turkey overt anauthorised drilling in EastMed

Following the review of the framework for restrictive measures in response to Turkey’s unauthorised drilling activities in the Eastern Mediterranean, the European Council adopted...

Fearing recovery setback, OPEC+ sticks to plans to raise oil output gradually

The Organization of Petroleum Exporting Countries (OPEC) and its allies led by Russia, a group so called OPEC+, dismissed demands from the United States...

KazMunayGas and Linde ink MoU under green hydrogen and ammonia project

Kazakhstan’s national oil and gas company KazMunayGas and Germany-based technology company Linde have signed a Memorandum of Understanding to cooperate and jointly develop clean...

Uzbekistan to expand energy sector, renewables

The Uzbekistan government’s key priority remains the expansion of energy and, especially, in the renewables sectors, Chris Weafer, co-founder of Macro-Advisory in Moscow, said,...

Egypt, Cyprus and Greece ink deal to construct electricity interconnector

Greek Prime Minister Kyriakos Mitsotakis, Cyprus President Nicos Anastasiades and Egypt’s President Abdel Fattah el–Sisi met in Athens, Greece, on October 19 where they...

Covid recovery, supply chain woes ratchet up oil prices

Oil prices hit multi-year highs this week as Covid recovery and coal, electricity and natural gas shortages are fueling demand for crude.“It has a...

EU mulls technical assistance to Moldova amid Russian gas shortage crisis

The European Union is looking for ways to help Moldova following a supply shortage of natural gas and the absence of a new energy...

EU Commission toolbox of measures to tackle high energy prices

The European Commission proposed on October 13 a package of measures to help shield European consumers from the storm of rising energy prices.The Commission...

Uzbekistan seeks energy hub role for Central Asia

Growing integration of national energy systems across the five nations of Central Asia is helping to ease congestion and power outages arising from peak...

Satisfied OPEC+ keeps oil supply status quo

At the OPEC+ meeting, which came against a backdrop with Brent trading just under $80 per barrel, oil ministers decided on October 4 to...

Russia puts the freeze on EU, gas supplies limited, prices spike

With gas prices surging, Members of the European Parliament have called for an investigation into market manipulation from state and non-state actors, and into...

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