energy-market
Top StoriesWhy Nopec, the U.S. Bill to Crush the OPEC Cartel, Matters
Top StoriesShell Ceo: No Way to Trace Russian Crude Refined Overseas
Top StoriesOil Climbs on Supply Jitters as EU Plans Russian Oil Ban
Top StoriesFrance’s Engie Wants Clear EU Guidelines on Russian Gas Payments
Explainer-Why the EU May Find It Tough to Squeeze Out Russian Oil
Date: May 5, 2022
By Rowena Edwards and Bozorgmehr Sharafedin LONDON (Reuters) – The European Union has proposed a phased embargo of Russian oil but could find it tricky to implement, given Europe’s complex distribution network and challenges in tracking crude once it is blended or refined. The plan, if agreed by member states, would take effect in six...
Margin Calls Hamper European Gas Price Discovery – Rwe
Date: May 4, 2022
AMSTERDAM (Reuters) – The high cost of margin calls has driven participants from the European gas market, cutting liquidity and making it harder to determine a price, the head of German utility RWE’s trading unit told an industry conference in Amsterdam on Wednesday. “There’s not sufficient liquidity in the market in order to absorb the...
Equinor Posts Record Profit as Gas Prices Soar in Europe
Date: May 4, 2022
By Nerijus Adomaitis and Nora Buli OSLO (Reuters) – Equinor reported record earnings on Wednesday, as the war in Ukraine triggered an energy supply crunch that sent gas prices soaring to all-time highs. The state-controlled Norwegian company has emerged as a big winner in Europe’s energy crisis, generating $18 billion in adjusted pretax earnings in...
Oil Jumps 4% as EU Proposes Ban on Russian Oil
Date: May 4, 2022
By Ahmad Ghaddar LONDON (Reuters) – Oil prices jumped on Wednesday as the European Union, the world’s largest trading bloc, spelled out plans to phase out imports of Russian oil, offsetting demand worries in top importer China. Brent crude futures rose $3.99, or 3.8%, to $108.96 a barrel by 1121 GMT. West Texas Intermediate crude...
BNP Paribas Pledges No New Loans for Oil Drilling in Amazon Rainforest
Date: May 3, 2022
By Tommy Wilkes LONDON (Reuters) – France’s BNP Paribas pledged on Tuesday to end most new financing for oil production in the Amazon rainforest and said it would reduce its “financed emissions intensity” in the energy and auto sectors. Emissions intensity is a measure of emissions relative to output that some climate activists have said...
Total’s German Leuna Refinery to Continue Russian Crude Imports in May – Sources
Date: May 3, 2022
(Reuters) – TotalEnergies’ 240,000 barrels per day Leuna refinery in Germany is set to continue to import Russian crude oil via the Druzhba pipeline at least throughout May, according to two sources with knowledge of the matter. Germany is trying to wean itself off Russian crude oil, which feeds not only Leuna but also the...