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InvestingOil Rebounds From Drop on China Demand Concerns
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Oil Slides as Shanghai Lockdowns Stoke Demand Fears
Date: April 25, 2022
By Alex Lawler LONDON (Reuters) -Oil slumped nearly 5% to the lowest in almost two weeks on Monday, extending last week’s decline as concern grew that prolonged COVID-19 lockdowns in Shanghai and potential increases to U.S. interest rates would hurt global growth and oil demand. In Shanghai, authorities have erected fences outside residential buildings, sparking...
UK Allows Gas Payments to Gazprombank Until May 31
Date: April 22, 2022
LONDON (Reuters) -Britain has granted Russia’s Gazprombank and its subsidiaries a licence for payments until the end of May despite sanctions in order to ensure gas supplies to the European Union, a Treasury document showed on Friday. The licence permits an individual or company to continue payments under contracts that began before April 21, 2022...
Oil Rises on Worry About Supply Disruption From Russia, Libya
Date: April 21, 2022
By Noah Browning LONDON (Reuters) – Oil prices rose on Thursday amid concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports while the market continues to deal with reduced supplies from Libya. Brent crude futures rose $1.36, or 1.3%, to $108.16 a barrel at 11:11 a.m. ET (1511...
Saipem Beats Expectations as Core Energy Business Gets Boost
Date: April 21, 2022
MILAN (Reuters) -Italy’s Saipem beat expectations for first-quarter earnings as an upturn in global oil and gas spending lifted the energy contractor’s core business, putting it on track for a better year. Adjusted core earnings in the period rose 65% to 145 million euros ($157 million), above a Refinitiv consensus of 103 million euros, Saipem...
Italy’s Eni Signs Congo Republic Lng Deal
Date: April 21, 2022
MILAN (Reuters) -Italy’s Eni has signed a deal to increase gas supplies from the Congo Republic by more than 4.5 billion cubic metres (bcm) a year, the energy group said on Thursday. The deal is the latest Italian move to reduce dependence on Russian gas, with Foreign Minister Luigi Di Maio and Ecology Transition Minister...
EU’s Michel Tells Ukrainians During Kyiv Visit: ‘History Will Not Forget’
Date: April 20, 2022
By Sergiy Karazy KYIV (Reuters) -European Council President Charles Michel pledged European solidarity with Ukraine during a surprise visit to Kyiv on Wednesday and said justice must be done for alleged Russian war crimes. Michel, the head of the European Council, which represents the European Union’s 27 member states, visited the town of Borodianka northwest...