EIA data show that US oil production reached a record high in September.
The Energy Information Administration (EIA), which released data on Friday, showed that U.S. crude oil production reached a new record in September, despite concerns about oversupply. Oil production in the U.S.
UK court rejects challenge to the issuing of oil exploration licenses
The High Court of London ruled that Britain's decision on Friday to grant more than 20 oil and gas exploration licenses was legal. This ruling dismissed a challenge from campaigners…
Gazprom reports a net profit of $1.72bn for the third quarter, compared to a loss of $1.2bn a year ago
Gazprom, Russia's largest energy company, announced on Friday that it had a net profit of $1.72 billion for the third quarter, compared to a loss of 53 billion dollars a year earlier…
The UK's FTSE 100 is set to drop for the first time in five months despite recent gains
London's FTSE 100 edged higher on Friday as energy stocks led the way. Oil prices were also rising. However, despite a budget boost earlier in the week, it was likely to end a winning streak of four months.
Prices for gas in Europe are on the rise due to low storage levels
The Dutch and British wholesale prices of gas rose slightly on Friday morning after falling to a 18-month low Thursday, as weaker storage levels supported the price increase. LSEG data…
German Protest on Monday is boosted by lower wind output
German power prices will likely rise on Monday due to a decline in wind power production, which is offset by a small drop in demand. LSEG data shows that the German and French baseload…
China is preparing for a record-breaking winter in terms of power and gas consumption.
An official of the National Development and Reform Commission said that the peak demand for electricity in China and the peak gas consumption will both be at their highest levels ever recorded this winter.
The central bank of Russia says that the discount on Russian Urals oil prices has increased to 23% by November.
In its latest review, the Russian Central Bank said that the discount between the price of the Urals oil blend and Brent global benchmark has increased by six percentage points to 23% this month.
The central bank of Russia says that the discount on Russian Urals oil prices has increased to 23% by November.
The Russian central bank announced on Thursday that the discount between Brent and Urals, which is Brent's global benchmark oil, has increased by six percentage points to 23% this month.
EUROPE GAS - European prices stable in a new lower range
The Dutch and British contracts for gas were slightly weaker Thursday, but they remained at 18-month lows, hit earlier in the week, due to milder weather and abundant supply, as well as hopes of a Ukraine Peace Deal.
After drone attack, operations at major Iraqi gas fields are suspended
Field engineers reported on Wednesday that a drone attack caused the suspension of operations in the Khor Mor Gas field, which is one of the largest fields of gas in Iraqi Kurdistan.
EDF Considers Selling US Renewable Unit to Focus on French Nuclear
French state-owned utility EDF is considering selling all of its U.S. renewable energy business, its CEO said on Wednesday, as the company focuses on building up its domestic nuclear operations and U.S.
Energy operator warns of emerging risks to UK gas supply as demand declines slowly
The energy operator in Britain warned on Wednesday of possible shortages during the coldest months. In its first assessment of gas supply security since being established last January…
Shell is ready to invest in Italy more if drilling rights are unlocked
Shell is willing to increase its investment in Italy to boost the hydrocarbon production. The head of Shell's Italian division said this on Wednesday. He urged the government to permit new drilling.
Mexico's Pemex refines more and pumps less at home, according to data from October
Data shows that the Mexican state energy company Pemex refined more crude oil at home in October, but pumped less crude oil. Pemex attributes the continued decline in crude production…
EDF considers selling the US renewable unit in full to concentrate on French nuclear
The CEO of the French state-owned utility EDF said that it is considering selling its U.S. Renewable Energy business. This comes as EDF focuses more on its nuclear operations at home and U.S.
Abu Dhabi's GSU launches $1 billion energy project in Yemen
On Wednesday, the United Arab Emirates announced that it would launch energy projects in Yemen worth $1 billion to help rebuild its energy sector. These will be implemented through Abu Dhabi-based Global South Utilities.
EDF considers selling the US renewable unit in full to concentrate on French nuclear
EDF, the French state-owned utility, is looking at selling all of its U.S. Renewable Energy business, according to its CEO on Wednesday. The company has a focus on developing its nuclear operations in France, while U.S.
Signing a maritime demarcation agreement between Lebanon and Cyprus opens the door to possible energy exploration
On Wednesday, Lebanon and Cyprus signed the long-awaited maritime delimitation agreement. This will pave the way for the exploration of gas fields offshore and the energy cooperation in Mediterranean.
The price of gas contracts in Europe remains at a 18-month low due to peace talks, mild temperatures and abundant LNG
Dutch and British gas futures traded slightly lower on Wednesday. They were near their lowest levels in 18 months, due to the prospects of warmer weather for early December, the ongoing efforts to end Ukraine's war…