Lost Russian oil revenue is bonanza for shippers, refiners
Western sanctions on Russia have significantly reduced state oil revenues and diverted tens of billions of dollars towards shipping and refining firms, some with Russian connections.
Shell LNG trading provides quarterly boost despite output drop
Earnings from Shell’s liquefied natural gas (LNG) trading operations are likely to have been significantly higher in the fourth quarter of last year despite a sharp output drop owing to plant outages, it said on Friday.
Exclusive: Tokyo Gas unit nears $4.6 billion deal to buy U.S. natgas producer
A unit of Tokyo Gas Co Ltd is in advanced talks to buy U.S. natural gas producer Rockcliff Energy from private equity firm Quantum Energy Partners for about $4.6 billion, including debt, people familiar with the matter said on Tuesday.
Analysis: The hardest part is yet to come for gas-hoarding Europe
Europe faces a much tougher task to rebuild gas stocks next year compared with this winter, meaning energy bills are likely to stay high and governments could have to implement painful rationing measures they have so far avoided.
ECB to slow rate hikes and lay out plans to drain cash
The European Central Bank is set to raise interest rates for the fourth time in a row on Thursday, although by less than at its last two meetings, and lay out plans to drain cash from the financial system as it fights runaway inflation.
Germany’s half-a-trillion dollar energy bazooka may not be enough
Germany is bleeding cash to keep the lights on. Almost half a trillion dollars, and counting, since the Ukraine war jolted it into an energy crisis nine months ago.
China shipyards feast on record LNG tanker orders as South Korea builders are full up
China is making fast inroads in the market for newbuild liquefied natural gas (LNG) tankers as local and foreign shipowners turn to its shipbuilders for the specialty vessels because long dominant yards in South Korea are fully booked.
Exclusive: Air India nears historic order for up to 500 jets
Air India is close to placing landmark orders for as many as 500 jetliners worth tens of billions of dollars from both Airbus and Boeing as it carves out an ambitious renaissance under the Tata Group conglomerate, industry sources said on Sunday.
Analysis: G7 Russian oil price cap evolves from revenue squeeze to market anchor
When U.S. officials first floated the idea of capping Russian oil export prices in response to a planned European embargo in March, they pledged to squeeze revenues to Russia’s war machine, while avoiding a devastating oil price spike.
G7 price cap on Russian oil kicks in, Russia will only sell at market price
The Group of Seven price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow’s ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production.
