In an abrupt change showing his frustration with Russian President Vladimir Putin, US President Donald Trump said Ukraine could win back all of its territory from Russia with the help of its European allies. Trump has previously said both sides would have to cede land to end the war. Russia currently controls around one-fifth of Ukrainian territory, including the Black Sea peninsula of Crimea, which was illegally annexed in 2014. After a speech at the UN General Assembly where he called on European allies during his address to immediately stop…

One of Russia’s biggest energy companies and exporters, Novatek, has resumed gas condensate processing at its second unit at Ust-Luga, a major complex and export port on the Russian Baltic Sea, a month after it was damaged by a Ukrainian drone attack, market sources told Reuters on Wednesday.   Until the unit was fixed to become operational again, Novatek rerouted approximately 70,000 metric tons of gas condensate to the Black Sea port of Novorossiysk.  The Ust-Luga complex, operated by Novatek, was hit by a Ukrainian drone…

Chevron Corp. (NYSE:CVX) has signed a deal with Israel Natural Gas Lines, Israel’s state-owned pipeline operator, to begin construction of the Nitzana natural gas pipeline that will transport natural gas from the giant Leviathan Gas Field to Egypt. Scheduled to be completed in three years, the $610 million pipeline is expected to ease Egypt’s ongoing energy crisis, which currently spends billions of dollars every year importing liquefied natural gas (LNG) to meet surging domestic energy demand. The Nitzana pipeline will transport ~600…

Iraq has long been the key instrument through which Iran has been able to generate economy-supporting revenue from oil exports around the world, despite intense sanctions against it doing so. Last week, the general manager of Iraq’s State Organization for Marketing of Oil (SOMO), Ali Nazar al-Satari, said that the monopoly state oil marketer is in talks with Oman’s OQ Trading to build an oil pipeline between the two countries. This potentially opens another extremely valuable mechanism by which Iran can circumvent sanctions, so…

The U.S. LNG export boom could soon face challenges by the end of the decade, both at home and on the international market. Huge export capacity additions, mostly in the United States and Qatar, are set to tip the global LNG market into an oversupply as soon as next year, depressing prices and eating into the profit margins of the U.S. LNG exporters.   Domestically, the LNG export industry will have to increasingly compete with rising demand for gas for power generation in the United States, where natural gas is expected to meet part of the…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 3.821 million barrels in the week ending September 19. This week’s draw follows last week’s 3.420 million barrel draw. So far this year, crude oil inventories are up just 1.5 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 300,000 barrels to 406 million barrels in the week ending…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 3.821 million barrels in the week ending September 19. This week’s draw follows last week’s 3.420 million barrel draw. So far this year, crude oil inventories are up just 1.5 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 300,000 barrels to 406 million barrels in the week ending…

Shrinking discovered volumes, rising oil and gas demand, and a renewed focus on energy security have driven the global oil and gas industry to refocus on frontier regions in pursuit of new discoveries essential for sustaining long-term growth. The peer group of six global majors – ExxonMobil, Shell, TotalEnergies, BP, Chevron, and Eni – is responsible for about 20% of the total conventional oil and gas volumes discovered since 2020. These companies possess the technical skills and financial muscle needed to explore technically challenging…

You can feel the buzz: nuclear is back. Or so we’re told. From Brussels to Washington, a new wave of enthusiasm for so-called Small Modular Reactors (SMRs) is sweeping through policy circles, think tanks, and energy startups. These compact, supposedly plug-and-play nuclear units are being hailed as the perfect solution to power data centers, feed artificial intelligence’s growing hunger, and backstop our energy transition with clean, stable electricity. There’s just one problem. Actually, there are many. None of them small. The…

Tajikistan is almost entirely dependent on international donors to fund 82 government infrastructure projects across a wide range of sectors. International development entities, led by the World Bank, Asian Development Bank and the UN’s International Fund for Agricultural Development (IFAD), are providing roughly 97 percent of the financing for the 82 projects, which are projected to collectively cost $4.5 billion, according to an investigative report published by the Asia-Plus news agency. Of the roughly $4.4 billion provided by international…

Imagine hauling in enough platinum, gold, and rare earth metals to bankroll every American's wildest dreams–or potentially tank the global economy overnight. That's the high-stakes gamble NASA and a cadre of innovative U.S. startups are wagering on the untapped riches of asteroids. As NASA's Psyche spacecraft hurtles toward its 2029 mission toward the metal-rich asteroid that shares the same name as the mission, a cadre of U.S. startups is accelerating efforts to turn celestial rocks into a viable business, potentially reshaping global supply…

US President Donald Trump has clinched more than $12 billion in trade deals with Uzbekistan and Kazakhstan amid a White House push to deepen economic ties with the strategic Central Asian region. Uzbekistan agreed to buy up to 22 aircraft from Virginia-based Boeing, the company said. State-owned Uzbekistan Airlines will purchase 14 with the option to buy another eight, Boeing said in a September 22 statement. In a post on TruthSocial, Trump put the value for all 22 aircraft at more than $8 billion. "We will continue to work together on many more…

ExxonMobil has quietly signed a non-binding agreement with Russia’s state-run Rosneft that could open the door to recovering billions lost when it exited the Sakhalin-1 project after Moscow’s invasion of Ukraine. Sources told that Reuters the pact, inked in late August or early September, sets the terms for talks but stops short of a binding deal. The move is Exxon’s first tangible step toward clawing back the $4.6 billion write-down it booked in 2022, when it walked away from Russia and lost access to some 150 million barrels…

President Donald Trump used his return to the United Nations General Assembly on Tuesday to lash out at both allies and rivals over continued purchases of Russian energy, saying countries buying oil and gas from Moscow are “funding the war against themselves.” Trump singled out China and India as the “primary funders” of Russia’s war in Ukraine, while mocking NATO members still importing Russian crude and LNG more than three years after the invasion. “Who the hell ever heard of that one?” Trump said. “Even…

President Donald Trump used his return to the United Nations General Assembly on Tuesday to lash out at both allies and rivals over continued purchases of Russian energy, saying countries buying oil and gas from Moscow are “funding the war against themselves.” Trump singled out China and India as the “primary funders” of Russia’s war in Ukraine, while mocking NATO members still importing Russian crude and LNG more than three years after the invasion. “Who the hell ever heard of that one?” Trump said. “Even…

Steelmakers in Europe are seeing a large jump in hot rolled coil prices as people start to return to work from their summer holidays, which could have significant implications for the steel industry. “Stocks are low,” one source said about inventories for the flat rolled product held by both stockists and end-users. Mills are currently offering €590-600 ($690-700) per metric tonne EXW for production and delivery in autumn, up from the €540-550 ($630-640) sought in the last week of August. Another source stated that steelmakers…

Some traders are betting that Europe’s natural gas prices would surge by 60% from current levels by next summer, amid many uncertainties on the market months from now. Options were traded on Monday at calls of $59 (50 euros) per megawatt-hour for April to September 2026, data compiled by Bloomberg showed on Tuesday. Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, have traded at around $37.75 (32 euros) per MWh in recent weeks, with the forward price for the summer 2026 at around $36.57 (31 euros) per MWh. The…

Some traders are betting that Europe’s natural gas prices would surge by 60% from current levels by next summer, amid many uncertainties on the market months from now. Options were traded on Monday at calls of $59 (50 euros) per megawatt-hour for April to September 2026, data compiled by Bloomberg showed on Tuesday. Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, have traded at around $37.75 (32 euros) per MWh in recent weeks, with the forward price for the summer 2026 at around $36.57 (31 euros) per MWh. The…

Oil prices rallied on Tuesday morning as Russia's supply disruption concerns and the delays in restarting exports from Iraqi Kurdistan kept the markets tight. Russia Floods Market with Crude as Refining Saps- Russia’s seaborne crude exports have risen to their highest since May 2024 after a string of Ukrainian drone strikes in recent weeks forced the country’s refiners to drastically cut their intake.      - Four-week average shipments soared to 3.62 million b/d in the week ending September 21, with volumes buoyed by…

French oil and gas giant, TotalEnergies (NYSE:TTE), is getting ready to resume work on its giant LNG project in Mozambique, even as an Islamist insurgency in northern Mozambique continues with fresh attacks displacing tens of thousands of people in recent weeks. Total abandoned the project with a liquefaction capacity of 13.1 million metric tons per year four years ago due to insecurity. With a 26.5% stake, TotalEnergies is the main operator of the $20B LNG project, making it Africa’s largest private investment. India’s Bharat Petroleum…