Energy

Kazakhstan has reached an unprecedented level of oil production despite significant damage to its primary export route, the Caspian Pipeline Consortium (CPC), caused by a recent Ukrainian drone attack. Industry sources revealed on Thursday that the country’s oil and gas condensate output surged to approximately 2.12 million barrels per day (bpd) on February 19, citing […]

Chinese refiners are ramping up their purchases of Brazilian and West African crude as they navigate the complexities of sanctions and tariffs affecting global oil supply. This shift comes in response to surging prices of Middle Eastern grades and tougher U.S. sanctions on Russia and Iran. Key Highlights:Increased Imports: China’s crude imports from Brazil are […]

On Wednesday, Russian President Vladimir Putin suggested that a recent drone attack on the Caspian Pipeline Consortium (CPC) pumping station in southern Russia may have been coordinated with Western allies of Ukraine. Key Highlights:Allegations of Coordination: Putin expressed skepticism about Ukraine’s ability to execute such an attack independently, claiming it likely received Western intelligence support.He […]

Australian oil and gas producer Santos (STO.AX) announced a 16% decline in annual profit on Wednesday, attributing the decrease to lower realized prices and a drop in production. The company also declared a reduced dividend, reflecting ongoing market challenges. Key Highlights:Profit and Dividend: Underlying profit fell to $1.20 billion for the year ending December 31, […]

Russia reported that oil flows through the Caspian Pipeline Consortium (CPC), a crucial route for supplying Kazakhstan and exporting oil globally, were reduced by 30-40% following a Ukrainian drone attack on a pumping station. The incident occurred just before talks between U.S. and Russian officials aimed at addressing the ongoing conflict in Ukraine. Key Highlights:Impact […]

The Arkenu Oil Company, a newly established private firm in Libya, has exported oil worth at least $600 million since May 2024, signaling a shift away from the National Oil Corporation’s (NOC) monopoly on oil exports. This development occurs under the influence of the powerful faction led by military commander Khalifa Haftar, who controls eastern […]

Russian Deputy Prime Minister Alexander Novak announced on Monday that OPEC+ is not considering postponing the planned oil supply increases set to begin in April. This statement comes amidst speculation and calls from U.S. President Donald Trump for lower oil prices. Key Highlights:OPEC+ Supply Plans: OPEC+, which includes OPEC members and allies like Russia, is […]

Tightened U.S. sanctions on Russia have thrown the global oil trade into turmoil, particularly affecting the flow of discounted Russian oil to major importers like China and India. The sanctions, implemented on January 10, aim to limit Moscow’s oil revenue following its invasion of Ukraine three years ago. Key Highlights:Impact of Sanctions: The new sanctions […]

On Friday, the Trump administration announced the approval of a liquefied natural gas (LNG) export license for the Commonwealth LNG project in Louisiana. This marks the first LNG export approval since former President Joe Biden paused such exports early last year. Key Highlights:LNG Export Approval: The approved exports will target markets in Asia and Europe.Energy […]

As the European Union (EU) considers measures to protect consumers and businesses from soaring energy prices, the gas and energy trading sectors are urging against the implementation of a gas price cap. This comes in response to recent spikes in gas prices, which have reached a two-year high. Key Highlights:Current Gas Price Situation: Benchmark European […]