Energy

The decision to build the natural gas link from Russia to Europe was made long ago and ditching the project may lead to an array of legal trouble, Germany’s Minister for Environment, Nature Conservation and Nuclear Safety warns, RT reports. “If we stop the project now, we will inflict a...

Russia’s coal miners could boost exports to China, the world’s number one energy consumer, after Beijing slapped tariffs on Australian imports amid a growing trade rift, RT reported. Chinese authorities completely halted supplies of coal from Australia in late 2020 after Canberra voiced its support for an international inquiry into...

Russian oil shipments to the U.S. hit a record high last year, according to calculations by Bloomberg, while at the same time Washington was amping up its warnings about Europe’s energy dependence on Russia, The Moscow Times reports. Russia leapfrogged Saudi Arabia to become the third-largest oil supplier to the U.S....

Crude oil prices got a major boost this week thanks to optimistic expectations about demand from OPEC+ and rebalancing fuel inventories in the United States, RT reports. Brent jumped to over $68 per barrel, and West Texas Intermediate neared $65 per barrel by the middle of the week and could...

Global oil demand this year will continue to recover at 6 million barrels per day, OPEC's June report said, confirming the forecast it made in May. According to OPEC data, global oil demand this year should amount to 96.58 million bpd. In its report, OPEC predicts that in the second half...

Global oil prices are falling - September Brent futures fell in price on the London ICE Futures by $0.44 (-0.63%) to $68.91 per barrel. The Brent fell in price by $0.73 (-1.1%) to $ 69.35 per barrel, Russian media reported. September futures for WTI fell in price on the New...

Natural gas prices have hit all-time highs in almost every part of the world. The price of natural gas has risen by almost 1,000 percent in Europe (to $580 per 1,000 cubic meters) and by 500 percent in East Asia during the past year. Experts believe that the age...

Russia and Belarus will develop rules for the operation and regulation of the single gas market by July 2022, Prime Ministers of Russia and Belarus Mikhail Mishustin and Roman Golovchenko said in a joint statement, Russian media inform. "The parties agreed to coordinate actions in terms of setting prices for...

"The Rosneft," from its London stock exchange statistics, has surpassed the capitalization of British oil firm BP. At Monday's start of trade, Rosneft was equivalent to 90,6 billion dollars and BP had a  figure of 87,7 billion dollars, Vedomosti writes. Since the start of the year, the quota Rosneft has increased by...

The Chinese government has raised retail prices for gasoline and diesel fuel by 4% domestically after a 2% decline in August, the State Committee for Development and Reforms of the People's Republic of China said. The cost of one ton of gasoline from October 10 will increase by 345 yuan...