The European Commission on Monday proposed extending the emergency measure which targets a 15% reduction in the bloc’s natural gas consumption by another 12 months to the end of the 2023/2024 winter heating season.
Oil is coming off its worst weekly rout since April 2020 as the turmoil in the banking sector fuels further concern that the global economy will tip into recession and hit demand, adding to a woeful first quarter for West Texas Intermediate and Brent futures.
JAKARTA, March 20 (Reuters) – Indonesia has set a tiered coal benchmark price based on calorific value and using a new formula to calculate the price starting in March, the energy ministry said on Saturday.
Russia was the single largest crude oil supplier to China in January and February, overtaking Saudi Arabia which was the number-one supplier of oil to China last year, according to Chinese customs data cited by Reuters.
Oil prices fell on Monday to their lowest in 15 months on concern that risks in the global banking sector and a potential increase to US interest rates could spark a recession that would sap fuel demand.
After years of uncertainty, ConocoPhillips’ Willow project has finally got the green light in Alaska.
Discussions around Sri Lanka’s energy crisis may have died down since reports of a major financial crisis in the Asian country circulated last summer, but Sri Lanka is still a long way from economic recovery.
The total number of total active drilling rigs in the United States rose by 8 this week, with gas-directed rigs making all the gains, according to new data from Baker Hughes published on Friday.
“We know that the transition will not be a straight line. Different countries and industries will move at different speeds, and oil and gas will play a vital role in meeting global energy demands through that journey.
Taiwan is buying more LNG for delivery over the next year as it closed a nuclear reactor and is set to phase out nuclear power generation by 2025.