Natural Gas , Trade , International

Germans Must Cut Gas Use Further to Avoid Shortages in Winter, Says Regulator

According to the government’s gas emergency plan, private households will be prioritized in case of a gas supply crunch but Germany’s network regulator head Klaus Mueller said the prioritization doesn’t mean that households can heat excessively in that situation.

August 8, 2022

Business , International

Russia Bans Western Investors from Selling Banking, Key Energy Stakes

On Aug. 4 , before the ban, Exxon Mobil said it has made significant progress exiting the Sakhalin-1 venture and that the pull out is a complex process.

August 5, 2022

Natural Gas , International

European Gas Storage on Track to Meet Target But at a Cost

The European gas storage level is at 70.54% capacity as of Aug. 2, not far from the 10-year average of approximately 71.40%.

August 4, 2022

Crude Oil , Trade , International

Biden Focused on Controlling US Oil Prices after OPEC+ Output Increase

“That is so little as to be meaningless. From a physical standpoint it is a marginal blip. As a political gesture it is almost insulting,” Eurasia Group’s Raad Alkadiri said of OPEC’s decision on Aug. 3 to raise oil output by 100,000 bbl/d.

August 4, 2022

Markets , International

Russia’s Gazprom to Get 50% of Replacement for Sakhalin-2 LNG Project

The decree said that Gazprom will get just over a 50% stake and the remaining 49.99% will be held by the new company itself until after existing Sakhalin-2 shareholders apply for a stake which they should do within a month, or by early September.

August 4, 2022

Crude Oil , Trade , International

OPEC+ Agrees Tiny Output Rise in Setback for Biden

The increase of 100,000 bbl/d announced by the producer group on Aug. 3 will be one of the smallest since OPEC quotas were introduced in 1982, OPEC data shows.

August 3, 2022

Natural Gas , International , Pipelines

'The Turbine Works': Germany's Scholz Points Finger at Russia in Energy Row

German Chancellor Olaf Scholz insists that Russia's Nord Stream 1 turbine, currently being stored in Germany, is functional and ready to be shipped back to Russia.

August 3, 2022

Crude Oil , Trade , International

Current Oil Prices Are Above Preferable Levels, OPEC+ Member Kazakhstan Says

“The work is ongoing to make [oil] prices more realistic,” said Bolat Akchulakov, energy minister of OPEC+ member Kazakhstan. “We have always said that the corridor of $60-$80 per barrel is a normal one... And today the price is $100.”

August 3, 2022

Crude Oil , International

Oil Edges Up OPEC+ Meeting Eyed, Global Demand Concerns Weigh

OPEC+'s annual meeting will further discuss a potential hike in crude supply later this week.

August 2, 2022

Trade , International

US Targets Chinese, UAE Firms in New Iran Oil Sanctions

Since taking office in 2021, U.S. President Joe Biden has been loath to sanction Chinese entities engaged in oil trade with Iran due to hopes of securing an agreement to revive the 2015 Iran nuclear deal.

August 1, 2022