(Oil & Gas 360) – During the Cold War the United States had a clear strategy on which it could hang its foreign policy. That strategy changed from containment to Reagan’s “We win, they lose” strategy so the policies changed but there was always a strategy. To prevail in foreign affairs, a strategy is the first requirement to provide guidance
World Oil (WO) – Following recent reports that the Biden Administration’s federal moratorium on new liquified natural gas (LNG) export plants is prohibiting Ukraine from purchasing American LNG, Railroad Commissioner Wayne Christian slammed the administration’s policy and called on the president to rescind the ban. “This politically motivated ban is doing more than simply costing America economic activity— it’s jeopardizing
Oil Price Russia became the biggest supplier of natural gas to Europe last month, for the first time since 2022, replacing the United States at the top spot. “It’s striking to see the market share of Russian gas and [liquefied natural gas] inch higher in Europe after all we have been through, and all the efforts made to decouple and
Nasdaq Ukrainian energy consumption hovered near record highs on Friday, increasing strains on the fragile power sector as nearly 500 settlements faced blackouts due to Russian shelling, air strikes and bad weather, officials said. Ukraine, an exporter of electricity before Russia’s invasion in February 2022, has been forced to turn to emergency power imports from neighbouring Romania and Poland this
World Oil (Bloomberg) — U.S. crude futures fell below $90 a barrel for the first time since February, the month Russia invaded Ukraine. Futures dropped as much as 1% to $89.80 a barrel. Prices have given up all of their gains since the war began as higher interest rates and a looming global economic slowdown menace demand. On the
Reuters Ukraine has signed a deal for the U.S. nuclear power company Westinghouse to supply fuel to all of its atomic power stations in an effort to end the country’s reliance on Russian supplies, Ukraine’s state nuclear company said on Friday. The agreement also increases the number of new nuclear units Westinghouse will build to nine from an earlier five, and
CNBC European Union leaders reached an agreement this week to ban the majority of Russian crude oil and petroleum product imports, but nations were already shunning the country’s oil, altering global flows for the commodity that powers the world. Russian oil exports had already been hurt by some EU members acting preemptively in anticipation of potential measures, in addition to bans from
CNBC The chief executive of Ukrainian state energy giant Naftogaz says oil producer group OPEC is on the wrong side of history in choosing to stick with Russia to stabilize energy markets. Speaking to CNBC’s Hadley Gamble at the World Economic Forum in Davos on Monday, Naftogaz CEO Yuriy Vitrenko warned the Middle East-dominated group of exporting countries to recognize
CNBC Oil prices jumped even higher on Monday after Russia-Ukraine talks appeared to yield no sign of progress, and markets continued to fret over tight supply — sparking a call by the International Energy Agency to reduce oil demand. Crude futures were up more than 3% on Monday morning during Asia trading — international benchmark Brent crude was at $111.46,
CNBC Oil prices surged Tuesday, with U.S. crude hitting its highest level since June 2014 as Russia bears down on Ukraine’s capital. Prices first topped the $100 mark last Thursday when Russia invaded Ukraine, prompting fears of supply disruptions from key exporter Russia, in what is already a very tight market. West Texas Intermediate crude futures, the U.S. oil benchmark,
CNBC Russian forces on Thursday launched their long-feared attack on Ukraine, sending shockwaves through financial markets and ratcheting up fears about the ramifications for gas supplies around the world. Russian President Vladimir Putin cast aside international condemnation and the first tranche of sanctions by declaring the beginning of a “special military operation” aimed at the “demilitarization” of Ukraine. Russian forces have reportedly fired missiles
CNBC Oil prices on Thursday jumped following Russia’s invasion of Ukraine, with international benchmark Brent crude surpassing $100 a barrel for the first time since 2014. The attack is expected to have far-reaching implications for energy markets given Russia’s role as the world’s second-largest producer of natural gas and one of the world’s largest oil-producing nations. Oil prices have jumped more than
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