Millions of Oil Barrels Caught Up in Turkish Traffic Jam

Saudi Arabia unexpectedly raised oil prices for its main market of Asia, while also lifting those for US and European customers. The moves came despite crude prices having fallen about 7% this year, as rising interest rates in the US and Europe counter optimism about a rebound in China’s demand following the ending of coronavirus lockdowns.

The end of the war in Ukraine would reduce pressure on Western governments to continue expanding sanctions on Russia’s oil and gas sector. That’s according to Matthew Bey, a Senior Global Analyst at risk intelligence company RANE, who outlined that a war-end could also result in some sanctions, including the price cap on Russian crude oil and price cap on Russian oil products, “being relaxed, allowing Russia to sell its oil at near market levels”.

India is planning for an expansion of its oil and gas sectors even as it aims to hit net-zero by 2070. India, the third-largest greenhouse gas emitter, is planning for an expansion of its oil and gas sectors even as it aims to hit net-zero by 2070. The nation intends...

As Western onshore wind markets grappled with many challenges, China was shielded by its massive domestic market and localized supply chain. — As Western onshore wind markets grappled with many challenges, Chinese OEMs were shielded by the country’s massive domestic market and localized supply chain. According to Wood...

Bharat Petroleum Corp. will consider buying Russian oil under long-term contracts as India strengthens its relationship with the OPEC+ producer. India’s second-biggest state-run refiner will assess long-term arrangements with Russia when it starts negotiating with producers this month for contractual supplies, said a BPCL official who asked not to be identified as the information is private. The official spoke on the sidelines of India Energy Week.

The sheer scale of the devastation of the earthquake and its aftershocks can be seen in social media photos and videos posted by people in Turkey and Syria. Eyewitnesses have also been speaking about what happened. BBC News has been pulling together and verifying information. The tremors of the main...

Vladimir Putin lost yet another top general in the latest blow to strike the Russian leader as his forces continue in their desperate struggle to take Ukraine, RadarOnline.com has learned.Major-General Dmitry Ulyanov, 44, was reportedly killed in a firefight with a Ukrainian sabotage group earlier this week.According to Daily Mail, Ulyanov’s death came shortly after the major general unretired from the Russian military to fight on the frontlines of Ukraine.Although Ulyanov previously served as a top paratrooper and commander of Russia’s elite 98th Guards Airborne Division, he was ordered to command a brigade of mobilized motorized infantrymen out of the...

Vladimir Putin’s forces are starving in Ukraine and are forced to survive on only potatoes, onions and instant noodles cooked using the back ends of rockets, RadarOnline.com has learned.In a surprising development to come as Russia’s death toll recently surpassed 500,000, one Russian soldier spoke out to reveal the Russian military’s food situation has not changed even 12 months after first invading Ukraine in February 2022.Even more shocking was recently released footage of a Russian battlefield kitchen that indicated Putin’s soldiers are struggling to survive as their options for food and nutrients are severely limited.That is the revelation shared by...

via TwitterRussia reported another attempted Tu-141 drone attack deep inside its borders, the latest in a series of such incidents.

China's Foreign Ministry said the craft was a lost civilian balloon, the same explanation it gave for a suspected spy balloon that drifted over the US.

The U.S. Energy Information Administration (EIA) has revealed its latest Brent oil price forecast in the February edition of its short term energy outlook (STEO), which was released late Tuesday. According to the STEO, the EIA sees the Brent spot average coming in at $83.63 per barrel in 2023 and...

Oil jumped the most since early November as investors grew more confident in China’s demand outlook. The more-than-three dollar boost to West Texas Intermediate on Tuesday followed on the heels of Saudi Aramco increasing most of its official selling prices for shipments to Asia in March. Oil’s rally accelerated late in the session as Wall Street investors responded positively to Federal Reserve Chair Jerome Powell’s comments Tuesday.

Oil settled higher after slipping to the lowest intraday since early December with technical indicators signaling the commodity was oversold. West Texas Intermediate managed to achieve its first positive finish in four sessions. Rising crude inventories left the market vulnerable to a downshift in broader sentiment, briefly pushing oil prices below the lower Bollinger band. Crossing the bottom band is a technical signal that indicates an oversold threshold has been breached, prompting traders to throttle back selling.

California held its first offshore wind leasing round in December, but prices paid in the round came nowhere close to the New York Bight lease round. — California held its first offshore wind leasing round – Pacific Wind – in December, but prices paid in the round came nowhere close to the New York Bight lease round.

French labor unions held a third day of mass strikes and protests against raising the retirement age. — French labor unions held a third day of mass strikes and protests against raising the retirement age, keeping up pressure on the government as parliament debates the controversial reform. Subway and...

The US microgrid market is developing at a rapid pace by reaching 10GW in the third quarter of 2022, with more than 7GW in operation. — The US microgrid market is developing at a rapid pace by reaching 10GW in the third quarter of 2022, with more than 7GW in operation and the rest in the pipeline.

The Department for Energy Security and Net Zero is one of four new departments established by Rishi Sunak on Tuesday. — UK Prime Minister Rishi Sunak has created a new Department for Energy Security and Net Zero. The new department has been tasked with securing the country’s long-term energy...

Massive profits made by Shell and BP in 2022 resulted in calls for windfall tax increases but OEUK claims that such calls are misleading. — Massive profits made by Shell and BP in 2022 have resulted in calls for an increase in windfall tax but Offshore Energies UK claims that such a levy risks breaching global tax agreements.

Woodside Energy and its partners have agreed to quickly begin a concept select program for the Greater Sunrise natural gas project off Timor-Leste. Woodside Energy and its partners have agreed to quickly begin a concept select program for the Greater Sunrise natural gas project off Timor-Leste. Woodside and the JV...

The US EIA expects natural gas prices at the Henry Hub to average around $3.40 per million Btu in 2023, 47pct lower than in 2022. — The U.S. Energy Information Administration (EIA) expects natural gas prices at the Henry Hub to average around $3.40 per million British thermal units in 2023, 47% lower than in 2022.