Russia blames the West for Nord Stream 1 problems

Gazprom claims it can't fix a leak in Nord Stream 1, BUT its Western service partner disagrees. Russia has scrapped a Saturday deadline to resume flows via a major gas supply route to Germany, deepening Europe's difficulties in securing winter fuel, after saying it had found faults in the Nord Stream 1 pipeline during maintenance. Nord … Continue reading Russia blames the West for Nord Stream 1 problems

Germany to achieve gas storage target in September

FILE: landfall facility of the Nord Stream 1 Baltic Sea pipeline and the transfer station of the OPAL gas pipeline, in Lubmin, Germany, July 2022Markus Schreiber/Copyright 2022 The Associated Press. All rights reserved Germany's gas reserves are at 80% and are on track to meet its 85% target  Gas reserves are filling up "faster than expected" in … Continue reading Germany to achieve gas storage target in September

Russia-Ukraine War: China strengthens oil and gas agreement with Moscow

July figures show that Russia was China's main oil supplier for the third month in a row. Chinese refiners purchased Russian oil, while cutting shipments from Angola and Brazil. China purchased 7.15 million tonnes of Russian oil, an increase of 7.6 percent from one year ago, according to statistics from the Chinese General Administration of … Continue reading Russia-Ukraine War: China strengthens oil and gas agreement with Moscow

CORRUPTION: Reps in subsidy probe declare 23 oil companies ‘unknown’

The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to 2021 has said it does not know the profile of 23 oil and gas companies trading in Nigeria. The panel is investigating payments made by the Federal Government through the Nigerian National Petroleum Corporation (now Nigerian National Petroleum Company Limited) … Continue reading CORRUPTION: Reps in subsidy probe declare 23 oil companies ‘unknown’

OPEC Secretary-General dies in Nigeria, just weeks before end of tenure

The Secretary-General of the Organization of Petroleum Exporting Countries has died, Nigerian authorities and the oil cartel announced Wednesday. Only hours before his death, he'd met with Nigeria's president and spoken in defense of the energy industry amid increasing climate change pressure. Mohammad Barkindo, 63, died late Tuesday in Abuja, a spokesman for Nigeria’s petroleum … Continue reading OPEC Secretary-General dies in Nigeria, just weeks before end of tenure

Facts you probably don’t know about fossil fuels and climate change

What is the link between fossil fuels and climate change? When fossil fuels are burned, they release large amounts of carbon dioxide, a greenhouse gas, into the air. Greenhouse gases trap heat in our atmosphere, causing global warming. Already the average global temperature has increased by 1C. Warming above 1.5°C risks further sea level rise, extreme weather, … Continue reading Facts you probably don’t know about fossil fuels and climate change

Canada to boost oil exports amid increasing sanctions against Russia

Canada will increase oil and gas exports by the equivalent of 300,000 barrels a day to help nations that are trying to shift away from Russian supplies, the country’s resources minister said. Energy producers can raise shipments of crude by 200,000 barrels a day and natural gas by the equivalent of 100,000 by year-end by … Continue reading Canada to boost oil exports amid increasing sanctions against Russia

ARMY DEFENDS DECISION TO LAY LANDMINES AROUND OIL AND GAS PIPELINES

According to the Shan Human Rights Foundation (SHRF), the junta recently planted landmines across oil and gas pipelines passing through Hsipaw Township in northern Shan State to China. According to the rights group, an unconfirmed number of landmines have been planted near a pumping station in forested areas on both sides of the Mandalay-Lashio roadway. … Continue reading ARMY DEFENDS DECISION TO LAY LANDMINES AROUND OIL AND GAS PIPELINES

Planned energy taxes in the US mark ‘tragedy’ for industry

Climate change proposals in the Democrats' spending bill may include taxes on the oil and gas industries and other measures that could drive heating costs up for everyone as winter approaches — and cost tens of thousands of jobs — Rep. John Joyce said on Wednesday.  "What we're seeing is a tragedy," the Pennsylvania Republican said on … Continue reading Planned energy taxes in the US mark ‘tragedy’ for industry

Political risk faced by oil and gas companies

Whenever an investor approaches a new industry, it is good to know what the risks are that a company in that sector must face to be successful. General risks apply to every stock, such as management risk, but there are also more concentrated risks that affect that specific industry. In this article, we'll look at the … Continue reading Political risk faced by oil and gas companies