oil-and-gas
InvestingOil Rises as Tight Supply Outweighs Recession, China Demand Fears
Top StoriesExclusive-Germany’s Refinery Dilemma Tests Russian Oil Ban Resolve
InvestingOil Rises on Tight Supplies; Trade Choppy on Demand Worries
InvestingOil Falls on Beijing’s COVID-19 Warning, Inflation Worries
Gas Pipeline Nord Stream 1 to Undergo Annual Summer Maintenance – German Regulator
Date: June 13, 2022
FRANKFURT (Reuters) – Nord Stream 1, one of the major pipelines that pumps Russian gas to Europe, will undergo its regular annual maintenance in summer, the head of Germany’s network regulator said, flagging a period when there will be no gas flows. Bundesnetzagentur President Klaus Mueller said on Twitter that this implied that gas storage...
Oil Falls on Beijing’s COVID-19 Warning and Inflation Concerns
Date: June 13, 2022
By Florence Tan and Mohi Narayan SINGAPORE (Reuters) -Oil prices dropped more than $2 on Monday as a flare-up in COVID-19 cases in Beijing dashed hopes for a rapid pick-up in China’s fuel demand, while worries about global inflation and sluggish economic growth further depressed the market. Brent crude futures fell $2.3, or 1.89%, to...
Explainer-What Does a Diplomatic Row Mean for Spain’s Algerian Energy Supplies?
Date: June 10, 2022
By Isla Binnie MADRID (Reuters) – Algeria suspended a 20-year friendship treaty with Spain this week and moved to limit trade with its northern neighbour, raising more questions about the potential impact on the long-established gas business between the two countries. The row over Madrid’s stance on the disputed territory of Western Sahara comes as...
Omv Takes Steps to Offset Schwechat Refinery Shortfalls
Date: June 10, 2022
BERLIN (Reuters) -Austrian oil and gas group OMV is implementing measures to make up for shortfalls at its Schwechat refinery after a mechanical incident damaged a crude oil distillation unit last week, it said on Friday. The measures, combined with the part of strategic fuel reserves Austria released after the incident, should be enough to...
Oil Prices on Track for Weekly Gain Amid High U.S. Demand
Date: June 10, 2022
By Bozorgmehr Sharafedin LONDON (Reuters) -Oil rose on Friday and was on track for another weekly gain supported by solid fuel demand in the United States, although fresh COVID-19 alerts in Shanghai and Beijing curbed gains. Brent crude was up 98 cents, or 0.8%, at $124.05 a barrel at 1153 GMT and U.S. West Texas...
Potential Norway Oil and Gas Strike Could Hit Output, Employers Say
Date: June 10, 2022
By Nerijus Adomaitis OSLO (Reuters) -Norway’s petroleum output could be reduced by unspecified amount if workers go on strike at nine offshore fields on Sunday, the Norwegian Oil and Gas Association (NOG) said on Friday. Some 845 workers out of roughly 7,500 employees on offshore platforms plan to strike from June 12 if annual pay...