Germany’s natural gas import costs more than doubled in 2022 despite volumes being slashed by 30%, official data from the Federal Office for Economic Affairs and Export Control (BAFA) showed. The war last February triggered a spike in energy prices and prompted Germany to seek alternatives to supply while imposing measures to curb use. Germany’s

·     WoodMac: global reserves of both low-cost and low-emission oil and gas stocks are dwindling. ·     Oil companies should focus on reducing emissions from both existing projects and prioritizing future projects with low costs, low emissions. ·     Many oil and gas reserves that would be economically viable under other circumstances are no

Renewables are set to dominate the growth of the world’s electricity supply over the next three years, as together with nuclear power, they will meet the vast majority of the increase in global demand through 2025, according to the International Energy Agency (IEA). This will check significant rises in the power sector’s carbon emissions, said

Exports of liquefied natural gas (LNG) out of the United States dropped by 5% in January compared to December amid higher U.S. demand in colder weather, according to data from Refinitiv Eikon cited by Reuters. U.S. exporters sent out 95 cargoes with 6.84 million tons of LNG on board in January, with Europe getting 68%

The energy demand is expected to rise 22 per cent by 2050 and the natural gas’ share in the energy mix will go from 23 per cent today to 26 per cent in 2050, according to a new study. The Gas Exporting Countries Forum (GECF) launched the latest edition of its annual Global Gas Outlook

The new drive for energy security prompted by the fossil fuel price crisis will accelerate the development of renewable energy, the International Energy Agency has said in a new report. “Renewables were already expanding quickly, but the global energy crisis has kicked them into an extraordinary new phase of even faster growth as countries seek

Several major producers of the OPEC+ alliance have started talks about a potential oil production cut ahead of the regular monthly OPEC+ meeting on October 5, OPEC and OPEC+ sources told Reuters on Thursday. OPEC+ meets next Wednesday to discuss the market and fundamentals situation as oil prices have fallen below $90 per barrel, a

The American Petroleum Institute (API) reported a build this week for crude oil of 3.645 million barrels, while analysts predicted a draw of 733,000 barrels. The build comes as the Department of Energy released 7.5 million barrels from the Strategic Petroleum Reserves in the week ending September 2, leaving the SPR with just 442.5 million

Norway will continue to produce natural gas at the current high levels for the remainder of the decade, Norway’s energy minister said on Tuesday. To maintain that high level of natural gas production, the country has approved applications from operators to increase production from several gas fields, energy minister Terje Aasland told Reuters in an

US shale oil drillers continue to show little sign of responding to high global prices with more production, only now it’s not just their focus on rewarding shareholders that’s holding them back, but also a preoccupation with soaring costs. The combined oil and gas production forecasts from a dozen companies that have reported second-quarter results