EU to crack down on fuel imports from India

Josep Borrell, the European Union’s foreign policy chief, has said that the bloc will act against the importation of Indian petroleum products that use Russian oil, in rare explicit criticism of India’s role in helping Russia evade Western sanctions amid the war in Ukraine. India has emerged in the past year as a top buyer

Sanctions are impending for the heavy oils

The European Union, the G-7 and its allies will attempt to impose a cap on Russia’s fuel export prices from February 5, 2023. While similar measures are already in place on its crude shipments, it is the cap and ban on refined fuels — and in particular diesel — that has some oil-market watchers concerned

European cities to collaborate for clean energy

European cities have joined forces to find quicker ways of promoting clean energy and curbing fossil fuels, advancing climate goals made more urgent by Russia’s war in Ukraine. An EU-backed project is supporting the city’s efforts to replace former industrial centers with new structures and public spaces, introduce renewables and retrofit buildings. Cities are central

Gas flows to Europe from Russia drops in June

Russian gas flows to Europe dropped to new lows in June after Gazprom slashed supply via the Nord Stream pipeline. The pipeline was cut off cut off to more buyers over a ruble payment dispute. Russian pipeline exports to Europe in June via its main operational corridors — Nord Stream, Ukraine and the TurkStream string

Naftogaz signs LNG and hydrogen pact with Symbio

Naftogaz Ukrainy, Ukraine’s largest gas producer and importer, has a memorandum of understanding with developer GNL Quebec’s parent company Symbio International. The agreement has given fresh hope to the backers of Canada’s stalled Energie Saguenay liquefied natural gas project. The new MoU signed sets out plans for Naftogas to begin off-taking LNG from 2027, and

LNG prices to stay high for few years: Woodside

Australia’s top independent natural gas producer, Woodside Energy Group, says that liquefied natural gas (LNG) prices will stay high for a few years as the market adjusts to supply disruptions after sanctions on Russia for its Ukraine invasion. According to the Australian company, the global LNG market was already tight before the invasion because of

Indian crude oil imports from Russia increased

India’s close ties with Russia have seen it ramp up purchases of bargain commodities in the two and a half months since the invasion of Ukraine began. Data from S&P Global Market Intelligence shows India’s seaborne crude oil imports surpassed 4.8m barrels per day in April, the highest on record, with higher Middle East and

Biden using oil reserves to regulate gas prices

President Joe Biden ordered the release of 1 million barrels of oil per day from the nation’s strategic petroleum reserve for six months, a bid to control energy prices that have spiked after the United States and allies imposed steep sanctions on Russia over its invasion of Ukraine. The president said it was not known

Germany opens doors for Qatar gas

Germany and Qatar have reached a long-term energy partnership, a German official has said, as Europe’s biggest economy seeks to become less dependent on Russian energy sources. Russia is the largest supplier of gas to Germany and German economy minister Robert Habeck has launched several initiatives to lessen Germany’s energy dependence on Russia since it

Russia warns of serious consequences for oil ban

Oil prices see-sawed on Tuesday even as Ukraine peace talks made little headway, torn between the prospect of a ban on Russian oil imports and Russia’s warning crude costs could rise to $300 a barrel. After the third attempt by Russia and Ukraine at talks in Belarus, a Ukrainian negotiator said although little progress on