Ukraine

The operator of Ukraine’s natural gas grid reported Tuesday it would have to suspend service at a critical point for gas transport through the country because of Russia’s increased “military aggression.” Gas TSO of Ukraine (GTSOU) confirmed it was declaring a force majeure at the gas metering station at Sokhranivka and the compressor station Novopskov.…

The sharp upturn in energy demand, which has escalated since Russia invaded Ukraine, has created a big opening for Chevron Corp. to ramp up once again in the massive Permian Basin and ponder whether it’s time to invest in U.S. liquefied natural gas (LNG), CEO Mike Wirth said Friday. In sharing the 1Q2022 results, Wirth…

Russia’s liquefied natural gas (LNG) exports remained strong in March and surpassed year-ago levels despite efforts by some buyers to curb purchases from the pariah state. Russian LNG exports increased by 19% year/year to 3.1 million tons (Mt) last month, according to shipbroker Banchero Costa. Shipments from the country were also 25% higher than they…

As oil refiners worldwide seek to distance themselves from Russian crude imports, a consultancy recently predicted a “rebalance” in the global crude oil trade. The shift would occur via “‘crude swapping’ between ‘self-sanctioning’ advanced economies and developing markets,” said Wood Mackenzie’s Alex Sun, managing consultant. After the United States imposed sanctions on Russian crude oil…

Even as sanctions mount against energy-rich Russia amid its war in Ukraine — intensifying concerns about global crude supplies — U.S. oil output is holding steady, the Energy Information Administration (EIA) said Wednesday. Production for the week ended March 4 held at 11.6 million b/d, EIA’s latest Weekly Petroleum Status Report showed. It hovered at…

Natural gas futures on Wednesday posted a double-digit advance for a second consecutive session as Russia forged ahead with its invasion of Ukraine, intensifying concerns of an energy crisis and fueling a rally in commodity prices. At A Glance: War worries propel markets Spot prices follow futures higher Analysts expect triple-digit storage pull The April…

Germany has revived its liquefied natural gas (LNG) import plans to reduce dependency on Russian natural gas, following Russia’s invasion of Ukraine.  Germany’s energy strategy to phase out coal-fired power plants by 2030, and to shutter its nuclear power plants by the end of this year, has left the country with few alternatives to meet…

Citing Russia’s invasion of Ukraine, British energy giant BP plc said Sunday it would unload its stake in Russian government-controlled oil company Rosneft.  Other majors followed suit Monday, including Shell plc, which said it would exit its joint ventures (JV) with Russia’s Gazprom, the state-controlled energy giant behind the Nord Stream 2 natural gas (NS2)…

Oil and natural gas prices climbed higher Monday in another volatile stretch of trading as the market weighed the possibility of significant supply disruptions tied to the latest round of sanctions against Russia amid continued fighting in Ukraine.  An initial round of talks to discuss a ceasefire Monday also yielded no results as Russia finds…