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German trade with Russia was up on the year but an increase in prices for crude oil and natural gas led to an import surplus of $2 billion in January

Images of bombed-out hospitals and apartment buildings across Ukraine reminded Jannie and Bert Schrage of their home country during World War Two. Then the retired couple, who live in the north of the Netherlands, realised they had a resource to help slow President Vladimir Putin''s campaign – natural gas.

The government on Tuesday said it is keeping a close watch on evolving geopolitical developments and would make ''calibrated interventions'' to keep fuel prices under control to safeguard the interest of the common man. Minister of State for Finance Pankaj Chaudhary said crude petroleum and natural gas, fuel & power subgroup in the Wholesale Price Index (WPI) is directly related to the fluctuations in the prices of crude oil. To a question in the Rajya Sabha on whether the government will cut excise duty to keep fuel price escalation due to the Ukrainian crisis in control, Chaudhary said the public sector oil marketing companies (OMCs) take appropriate decisions on pricing of petrol and diesel in line with their international product prices, exchange rate, tax structure, inland freight and other cost elements etc. "Government is keeping a close watch on these factors and the evolving geopolitical developments and would make calibrated interventions as and when required to safeguard .

The government on Tuesday said it is keeping a close watch on evolving geopolitical developments and would make ''calibrated interventions'' to keep fuel prices under control to safeguard the interest of the common man. Minister of state for finance Pankaj Chaudhary said crude petroleum and natural gas, fuel & power subgroup in the wholesale price index (WPI) is directly related to the fluctuations in the prices of crude oil.

Johnson underscored his drive for energy independence, saying West''s failure to wean itself from Russian oil and natural gas after the annexation of Crimea paved the way for the invasion of Ukraine.

The U.S. has a big supply of natural gas, and a limited capacity to export it. That means U.S. consumers pay relatively cheap prices.

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U.S. natural gas prices could weaken over the short-run with traders already pricing in higher production and lower demand.

The weather is expected to remain warmer than normal for the next 2-weeks

The Aayog has sent its gas price reform proposal to the petroleum ministry for consultation. It also wants natural gas included in the ambit of the goods and services tax (GST), said the people.

Natural gas prices fell across the globe as the week got underway, tempered by another round of talks between Russia and Ukraine, along with milder

U.S. natural gas can easily replace Russian gas in Europe, the chief executive of EQT, the country''s largest producer of gas, told the BBC in an interview. "We''ve got the ability to do more, the desire to do more," Toby Rice told the BBC, estimating that the United States had enough gas to quadruple current output by 2030. However, boosting exports of natural gas to Europe is not only a question of availability and willingness on the part of gas producers. There are other obstacles preventing U.S. gas from taking the place of Russian gas in Europe.…

Cyprus’ dreams of building the ambitious EastMed natural gas pipeline from Israel to Europe may not be dead in the water just yet, as the war in Ukraine and sanctions on Russia have meant that the EU may be looking for alternative energy sources. Russia’s invasion of Ukraine earlier in February and the sanctions that followed, meant that the bloc will be in the market to replace at least part of the supply of Russian natural gas on which it is heavily dependent. Cyprus’ dreams of becoming an energy hub, including exporting potential offshore natgas discoveries, took a step backwards The post Russia sanctions could breath new life into EastMed appeared first on Financial Mirror .

Global energy-related carbon dioxide emissions rose by 6 percent in 2021 to 36.3 billion tonnes, their highest ever level, as the world economy rebounded strongly from the Covid-19 crisis and relied heavily on coal to power that growth, a new IEA analysis has stated. The increase in global CO2 emissions of over 2 billion tonnes was the largest in history in absolute terms, more than offsetting the previous year’s pandemic-induced decline, the IEA analysts said. The recovery of energy demand in 2021 was compounded by adverse weather and energy market conditions – notably the spikes in natural gas prices – which led to more coal being burned despite renewable power generation registering its largest ever growth. The global CO2 emissions and energy demand numbers are based on the IEA’s detailed region-by-region and fuel-by-fuel analysis, drawing on the latest official national data and publicly available energy, economic and weather data. Combined with the methane emissions estimates that the IEA published last month and estimates of nitrous oxide and flaring-related CO2 emissions, the new analysis shows that overall greenhouse gas emissions from energy rose to their highest ever level in 2021.

As a result of volatile natural gas prices, U.S. electricity customers are facing the biggest bills they’ve seen in years because of the high winter demand and a lack of natural gas around the world caused by Russia’s war in Ukraine. The shortage of natural gas has already increased the cost of purchasing or producing […] The post “Doubled overnight”: Russian-Ukraine War – a “punch to the gut” of Americans appeared first on Revyuh .