Energy executives at transition conference still lean on fossil fuels
NEW YORK, June 14 (Reuters) - Energy company executives at a conference on the global transition insisted on Tuesday that fossil fuels, especially natural gas, are still needed at a time when global markets grapple with tight energy supplies and skyro…
Drilling vs returns. U.S. oil producers' tradeoff as windfall tax threatens
June 13 (Reuters) - U.S. oil producers profiting from sky-high prices are doling out billions to shareholders and building cash reserves, a strategy irking lawmakers and voters struggling with record fuel prices while winning over Wall Street.Soaring …
Australian state to invest $850 mln in power grid
MELBOURNE, June 10 (Reuters) - Australias New South Wales state on Friday said it would invest A$1.2 billion ($850 million) in new transmission lines over 10 years to speed up connections to the grid for new renewable energy projects as the state look…
Ukraine eyes billions in euros from Europe electricity exports
KYIV, June 8 (Reuters) - Ukraine hopes to make 1.5 billion euros from electricity exports to the European Union by the end of the year and earn to more in the future after obtaining the right to export its energy there, a Ukrainian energy ministry adv…
High fuel prices could erode public support for energy transition, Chevron CEO says
HOUSTON, June 7 (Reuters) - Europes plan to double down on renewable fuels in response to rising fuel costs could have the unintended short-term effect of increasing prices and slow down the energy transition, Chevron Corp (CVX.N) Chief Executive Mich…
Oil settles shy of $120 a barrel on OPEC+ deal, Saudi pricing
June 6 (Reuters) - Oil prices settled slightly lower after choppy trade on Monday, buoyed by Saudi Arabia raising its July crude prices but amid doubts that a higher output target for OPEC+ oil producers would ease tight supply.Brent crude fell 21 cen…
Exclusive: U.S. will allow two companies to ship Venezuelan oil to Europe
HOUSTON/WASHINGTON, June 5 (Reuters) - Italian oil company Eni SpA and Spains Repsol SA could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, five people familiar with the matter said, resuming oil-for-debt …
Oil prices skid $3 a barrel as investors take profits ahead of OPEC+ meeting
TOKYO, June 2 (Reuters) - Oil prices fell by around $3 a barrel in early Asian trade on Thursday as investors cashed in on a recent rally with a key producers meeting later in the day set to pave the way for expected output increases.Brent crude was d…
World Oil editorial: UK government can’t have it both ways
Recent moves by the UK government of Prime Minister Boris Johnson indicate that people in his regime must think that they can play both sides of the street, so to speak, when it comes to oil and gas policy, and get away with it. We are here to tell th…
Analysis: How the Ukraine conflict is reshaping global oil markets
LONDON, May 30 (Reuters) - Russias invasion of Ukraine has reconfigured the global oil market, with African suppliers stepping in to meet European demand and Moscow, stung by Western sanctions, increasingly tapping risky ship-to-ship transfers to get …
Oil just off 2-month high amid global supply concerns
May 27 (Reuters) - Oil prices eased slightly in early Asian trade on Friday, after surging to a two-month high in the previous session as investors focused on signs of tight global supply.Meanwhile, a top Hungarian aide said the country needs 3-1/2 to…
Oil firms on tight supply though EU ban on Russian oil still uncertain
MELBOURNE, May 26 (Reuters) - Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supply while the European Union (EU) wrangles with Hungary over plans to ban imports from Russia, the worlds second-largest crude exporte…
Oil prices climb on prospects for tighter supply as demand rises
HOUSTON, May 25 (Reuters) - Oil prices rose in early trade on Wednesday, boosted by tight supplies and the prospect of rising demand from the upcoming start of the U.S. summer driving season.Brent crude futures for July rose 46 cents, or 0.4%, to $114…
German economy minister expects EU embargo on Russian oil 'within days' -ZDF
BERLIN, May 23 (Reuters) - The European Union will likely agree an embargo on Russian oil imports "within days," Germanys economy minister said on Monday, but making a dent in Russias war chest may require capping global oil prices."We …
Russia stops gas flows to Finland over payments dispute
OSLO, May 21 (Reuters) - Russias Gazprom (GAZP.MM) on Saturday halted gas exports to neighbouring Finland, in the latest escalation of an energy payments dispute with Western nations.Gazprom Export has demanded that European countries pay for Russian …
U.S. power and natgas prices soar during spring heatwave
May 19 (Reuters) - U.S. spot power and natural gas prices soared on Thursday to their highest a year or more in several parts of the country as consumers cranked up air conditioners to escape an early spring heatwave.Even before the latest heat, gas f…