Moldova declares state of emergency over gas crisis | Oil and gas news

Moldova is looking for cheaper natural gas from Europe after traditional supplier Russia raises prices. The Moldovan parliament has approved the state of emergency requested by the government until November 20, as it seeks to reduce gas shortages amid rising world energy prices. The eternal flame at a World War II monument in the capital … Read more

Pain at the pump: Turks brace for double-digit gas as lira tanks | Oil and gas news

The lira fell 1.5 percent on Friday to a record low of 9.6625 per dollar. Through Ercan Ersoy and Taylan BilgicBloomberg Published on Oct 22, 2021 Rising energy prices and a collapse of the lira combine to create unexpected headaches for Turkish gas stations: how to get double-digit price quotes at the pump? The prospect … Read more

Winter is coming? Oil falls from 3-year peak on warmer forecast | Energy news

A forecast for a warm winter in the United States put the brakes on a rally fueled by tight supplies and a global energy crisis. Oil fell $2 after hitting a three-year high of more than $86 a barrel on Thursday as a forecast for a warm winter in the United States put the brakes … Read more

Biden urged California to cancel oil lease on California coast after spill | Environmental News

Environmentalists say the Biden administration has the power to cancel oil and gas leases off the coast of California. Following a recent oil spill, environmentalists are urging US regulators to suspend and cancel oil and gas leases in federal waters off California. About three dozen environmental groups sent a petition to the US Department of … Read more

Saudi Arabia turns offshore oil rig into huge adventure park

Saudi Arabia turns offshore oil rig into huge adventure park “The Harness”; Public Investment Fund (PIF) Saudi Arabia Public Investment Fund (PIF) announced Friday 15 October the launch of “THE RIG”, the latest tourism project inspired by offshore oil platforms. This ties in with the Kingdom’s efforts to protect the environment by reducing its dependence … Read more

Oil price begins to fall after China tries to tame coal prices | Business and economic news

Oil hit multi-year highs as a result of a global coal and gas crisis that drove the switch to oil for power generation. Oil prices fell after the Chinese government indicated it was looking for ways to tame record high coal prices and that it would ensure coal mines would operate at full capacity as … Read more

Brent oil closes above $85 a barrel for the first time in 3 years | Energy news

Meanwhile, the US crude oil benchmark closed at a new seven-year high. Through Julia Fanzeres and Devika Krishna KumarBloomberg Published on 19 Oct 2021 The global benchmark Brent closed above $85 a barrel for the first time since October 2018 amid a stronger stock market and ongoing concerns about a global energy crisis. Brent crude … Read more

Fire breaks out at Kuwait oil refinery, injured | Oil and gas news

Firefighters were working to put out the fire at the refinery’s treatment unit, which removes sulfur from the oil products. A fire has broken out at Kuwait’s largest oil refinery, with the state oil company reported a number of injuries, including smoke inhalation. Kuwait National Petroleum Company (KNPC) said Monday’s fire at the Mina al-Ahmadi … Read more

Oil price reaches highest level in years | Business and economic news

Shortages of natural gas and coal from Asia to Europe are creating additional demand for oil products for energy generation. Oil prices hit their highest level in years on Monday as demand recovers from the COVID-19 pandemic, boosted by increased use of power generators that are moving away from expensive gas and coal to fuel … Read more

Energy crisis: Chinese companies want to pump up LNG stocks from the US | Oil and gas news

Major Chinese energy companies are in advanced talks with US exporters to secure long-term liquefied natural gas (LNG) supplies as rising gas prices and domestic power shortages raise concerns about the country’s fuel security, several sources told Reuters news agency. At least five Chinese companies, including the head of state Sinopec Corp and China National … Read more