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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 .

New Delhi [India], March 14 (ANI): India’s annual wholesale price-based inflation surged to 13.11 per cent in February from 12.96 per cent recorded in the previous month due to a sharp jump in the prices of crude petroleum and natural gas, the government data showed on Monday. The annual rate of Wholesale Price Index (WPI) […]

Resistances are at ₹380, ₹390 and ₹400

The Woodside Petroleum Limited (ASX: WPL) share price has had a wild start to the week''s trading, despite higher prices. What''s going on?

Historic Market Dislocations In 35 Charts Amid the unprecedented market turmoil, Deutsche Bank''s head of thematic research Jim Reid looks at some of the dislocations and extremes that the current Russia/Ukraine crisis has thrown up. In particular, Ried looks at commodities, rates and equities, as well as the dilemma that central banks find themselves in given high inflation and how loose policy is right now. Let''s start with energy dislocations The amount of backwardation in WTI futures contracts (1st contract versus 6th contract, left chart) is at an all-time high in dollar terms, showing how dislocated oil prices are over the near term. When looking from a ratio basis (on the right), the 1st contract is 20% more expensive than the 6th and not quite as extreme but still the highest for 20 years. European natural gas prices have also shot higher, and backwardation has taken hold. However both the EUR and ratio difference between the 1st and 6th TZT contract are not as drastic as oil and not as dramatic as in December, suggesting the market now believes ultra high price pressures are here to stay.

Work has started on a pipeline that will bring natural gas to Mysuru city. In phase one, over 3.75 lakh houses will get piped gas in the city.Within the Mysuru city limits, a 500-km pipeline will be laid, connecting 13 residential areas, initially.

An Economic World War III President Biden deserves credit for having so far avoided World War III. He has resisted calls to impose a no-fly zone over Ukraine, which would lead to war with Russia, and he has clearly signaled he has no intention of fighting Russia. But Biden has, in effect, helped launch an economic World War III, imposing unprecedented sanctions on a large and economically important country. Russia isn''t an Iran or Libya. It''s a continent-spanning country with a population of 145 million, and it is (or was) one of the world''s top five exporters of oil, natural gas, nickel, wheat, coal, and other commodities. Let''s breakdown why these sanctions are dangerous for us, and close with our investment approach to them. What''s The Endgame? One of the biggest problems with the sanctions is that there''s been no endgame articulated for them, and without an endgame, they may never end. The United States has had sanctions on Cuba since 1962. Obviously, the most recent, and most severe sanctions the West imposed on Russia were in response to Russia''s invasion of Ukraine, but will the new sanctions be lifted if Russia withdraws its invasion force, or signs a peace treaty with the government of the Ukraine?

Metals prices are all over the place, with rapid rises to record levels followed by sharp falls and considerable anxiety — anxiety that has also applied to surging oil prices. Agricultural commodities have likewise seen an unprecedented surge in prices since the war in Ukraine broke out. There is a risk of unrest in parts of the world where food prices have toppled governments in the past. However, arguably the most important single commodity price point is oil. Oil prices on the rise Oil prices and, particularly in Europe, the natural gas…

ASHGABAT, Turkmenistan: Polling stations closed in Turkmenistan on Saturday (Sunday in Manila) in a tightly controlled presidential election that is all but certain to yield ex-Soviet Central Asia''s first father-son succession. Nine candidates are in the fray in the isolated country of 6 million people, but few doubt that strongman Gurbanguly Berdymukhamedov''s 40-year-old son Serdar — who has pledged to continue his father''s course — will take over the country''s top job. Berdymukhamedov senior, who is Turkmenistan''s president, chairman of the Cabinet and Senate chief, has been the regime''s top decision-maker for the last 15 years. The strongman, known as the gas-rich country''s "protector," has dominated public life since the country''s founding president Saparmurat Niyazov died in 2006 and tolerates no dissent. Last month, Berdymukhamedov said he would step aside and allow "young leaders" to govern, triggering a snap vote. A state television announcer said on Saturday the elections showed "the irreversibility of the process of democratization of modern Turkmen society." Polling stations were busy on a cloudy day in the capital Ashgabat, with young Turkmen wearing either suits with black ties or embroidered ankle-length red dresses chatting and giggling in the queues.

As war rages on in Ukraine, the West has launched a campaign of economic isolation against Russia that is widening in scope every day. First, those close to the Kremlin were targeted. Then, broader segments of the financial system were curbed. The US has banned imports of Russian oil and natural gas, and, with its allies, announced plans to revoke Russia’s preferential trading status.So far, over 300 companies have pulled out of Russia, either in solidarity with Ukraine or out of fear of…

The post Vermilion Touts ‘Exceptionally Strong’ European Natural Gas Prices in Solid Results appeared first on Natural Gas Intelligence

The government''s fertiliser subsidy bill in the current fiscal year may go up by about Rs 10,000 crore due to the Russia-Ukraine war, but higher tax revenues will help keep fiscal deficit close to the estimated 6.9 per cent level, an official said. The official further said the oil prices are expected to cool in the next 2-3 months on higher production from the US and OPEC member countries. The Revised Estimates (RE) had pegged the fertiliser subsidy at over Rs 1.40 lakh crore in current fiscal year, while the Budget Estimate (BE) for next fiscal year is estimated at over Rs 1.05 lakh crore. "We expect oil prices to cool in next 2-3 months. The rising oil prices would not alter the budget math of the government much in the current fiscal except for fertiliser subsidy which is likely to go up by about Rs 10,000 crore," the official said. The official further said that since farmers need to stock up fertilisers before the beginning of the sowing season, import of potash -- a key component in fertiliser manufacturing-- cannot wait for international prices to cool.