Ukraine-Russia Crisis

Mexico’s energy system relies heavily on U.S. natural gas and this could lead to price increases and supply shortfalls if the United States focuses more on the liquefied natural gas (LNG) export market, according to analysts at Fitch Ratings Inc. If the U.S. increases gas exports to Europe as a result of Russia’s invasion of…

TotalEnergies SE plans to halt all purchases of Russian oil and petroleum products by the end of this year at the latest, but it would continue supplying Europe with Russian natural gas through its minority stakes in five Russian companies. “TotalEnergies is a European energy company that must contribute to the supply security of the…

European natural gas prices on Monday finished at the lowest point since Russia invaded Ukraine on Feb. 24, as the arrival of spring and an influx of liquefied natural gas (LNG) appeared to tip the balance of a market on edge over the war.  Mild weather is expected across Central and Northern Europe over the…

The top global oilfield services companies announced over the weekend that they would suspend their investments in Russia, in another blow to the country’s oil and gas operations. The No. 1 operator, Schlumberger Ltd., was joined by Baker Hughes Co., Halliburton Co. and Weatherford International plc, which separately agreed to cancel new investments. “We have…

German utility Uniper SE is accelerating plans to procure more liquefied natural gas (LNG) from the Gate import terminal in the Netherlands.  Starting in October, Uniper said it would increase its capacity rights by 1 billion cubic meters (Bcm) per year for the next three years at the terminal, a key entry point for LNG…

New forecasts detail a rosier path for Europe to cope with the risks of Russian gas imports suddenly evaporating, but it will still have plenty of challenges ahead to restore storage levels before next winter. A report released Friday by consultancy Wood Mackenzie Ltd. suggests a combination of a mild winter, a bevy of liquefied…

The backdrop of the Russia-Ukraine conflict could be an opportune time for the Biden administration to improve the United States’ oil and gas investment climate and bolster domestic energy security, the North Dakota Petroleum Council (NDPC) and other industry organizations told NGI. NDPC’s Brady Pelton, vice president, said that Biden “has not really been a…

German power supplier E.ON SE has indicated its minority stake in one of Europe’s vital routes for Russian natural gas is at risk, but for now, it has no plans to divest. The utility holds a 15.5% stake in Nord Stream AG, a subsidiary of Russian state-owned Gazprom PJSC, which  operates Nord Stream 1 (NS1).…

Calfrac Well Services Ltd., a Calgary-based specialist in hydraulic fracturing that works in Canada, as well as Argentina, Russia and the United States, said a revival in drilling last year and commodity prices provide momentum, but there is uncertainty on the horizon. “A prolonged period of underinvestment in the upstream sector, in combination with a…