oil-and-gas
Top StoriesUK’s Johnson in Gulf to Ask Saudi and UAE to Pump More Oil
InvestingOPEC Flags Risk to Oil Demand Outlook From Ukraine War, Inflation
InvestingOil Plunges on Easing Supply Concerns, China Covid Cases
Top StoriesFor Dutch Province, Ukraine War Is a Call to Pump Natural Gas
Oil Falls 8% on Russia-Ukraine Talk Hopes, China Lockdowns
Date: March 14, 2022
By Scott DiSavino NEW YORK (Reuters) -Oil prices dropped about 8% on Monday to the lowest in two weeks, as diplomatic efforts between Ukraine and Russia looked like they might end their conflict, which would boost global supplies, while a pandemic-linked travel ban in China cast doubt on the demand outlook. Brent futures fell $8.64,...
UK’s Johnson Urges Saudi Arabia to Raise Oil Output, Minister Says
Date: March 14, 2022
LONDON (Reuters) -British Prime Minister Boris Johnson is trying to persuade Saudi Arabia to increase its oil output, a senior minister said on Monday, following reports that Johnson would travel to the OPEC heavyweight this week. Saudi Arabia and the UAE have so far snubbed U.S. pleas to use their spare output capacity to tame...
Oil Falls on Russia/Ukraine Talks and New Lockdowns in China
Date: March 14, 2022
By Bozorgmehr Sharafedin LONDON (Reuters) -Oil prices fell by around $5 a barrel on Monday as investors pinned hopes on diplomatic efforts by Ukraine and Russia to end their conflict, while a surge in COVID-19 cases in China spooked the markets. Brent was down by $4.67, or 4.1%, at $108.00 a barrel at 1000 GMT,...
UBS Joins Lenders Setting Fossil Fuel Emissions-Cutting Goals
Date: March 11, 2022
By Brenna Hughes Neghaiwi ZURICH (Reuters) – UBS aims to cut its financing of fossil fuel emissions by more than two-thirds by 2030, Switzerland’s biggest bank said on Friday, joining lenders setting targets for the first time this year. More than 100 banks have pledged to reach net zero carbon emissions by 2050 and are...
Exclusive-Russia’s Surgut Works With China to Allow Oil Sales to Go On
Date: March 11, 2022
By Florence Tan SINGAPORE (Reuters) -Russian producer Surgutneftegaz has allowed Chinese buyers to receive oil without providing guarantees known as letters of credit (LC) in order to bypass Western sanctions, three people with knowledge of the matter said. The change in terms is allowing Surgutneftegaz to continue to sell ESPO Blend crude from the port...
EU Leaders Agree to Phase Out Russian Fuels, but Hurdles Remain
Date: March 10, 2022
By Kate Abnett and Philip Blenkinsop BRUSSELS (Reuters) – European Union leaders are set to agree on Thursday to cut their reliance on Russian fossil fuels, although are divided over whether to cap gas prices and to sanction oil imports as Moscow wages war in Ukraine. Russia’s invasion prompted Brussels on Tuesday to publish plans...