Russia could extend the ban on gasoline exports by the end of February from the current end-date December 31, 2025, state news agency TASS reported on Monday, quoting sources familiar with the discussions in the government.  Currently, Russia has a ban on gasoline exports and a ban on non-producers to export diesel by the end of the year. The ban on gasoline exports is in force for all market participants, including producers and traders, but it does not apply to supplies under bilateral government agreements.   The current ban on…

An oil tanker carrying crude from the Kurdistan Region of Iraq (KRI) unloaded its cargo at a U.S. port at the very end of last month – the first since the reopening of the critical Iraq-Turkey Pipeline (ITP) around two months ago. According to industry data, many more such cargoes are expected in the coming day, weeks, and months. Although the U.S. has a genuine use for the medium-heavy sour Iraqi Kurdish blend, these imports are about a lot more than oil and following the recent rocket attack on the KRI’s Khor Mor gas field, the timing…

The European Union on Monday slapped sanctions on nine entities and individuals for supporting Russia’s shadow fleet moving oil, as the bloc seeks to further restrict Moscow’s ability to generate revenues from energy exports.    The Council of the EU sanctioned five individuals and four entities responsible for supporting Russia’s shadow fleet and its value chain.     The designated individuals are businessmen directly or indirectly linked to Rosneft and Lukoil, which were sanctioned by the United…

In a remarkable turnaround, the tiny South American country of Guyana, once one of the continent’s poorest nations, now ranks among the world’s top 10 wealthiest countries by gross domestic product (GDP) per capita. In a mere decade, Guyana went from first discovery to be lifting nearly 900,000 barrels of crude oil per day from the prolific 6.6-million-acre Stabroek Block. This, despite the lopsided deal favoring the ExxonMobil-led consortium, which controls the oil acreage, has delivered a massive economic windfall. There are concerns…

The United States insists that the European Union exempt it from obligations to report data under the EU Methane Regulation until 2035, Reuters reported on Monday, citing a U.S. document circulated to EU governments. The U.S. and its gas industry have lobbied this year for repeal or significant amendments of the EU’s climate laws and regulations which, the U.S. says, threaten Europe’s energy supply and security. The EU Methane Regulation, effective from August 4, 2024, aims to reduce methane emissions from the energy sector. For imports,…

Ukrainian President Volodymyr Zelenskyy and US envoys held more than five hours of negotiations in Berlin with no indication of potential results revealed, only that talks would continue. "Representatives held in-depth discussions regarding the 20-point plan for peace, economic agendas, and more. A lot of progress was made, and they will meet again tomorrow morning," White House envoy Steve Witkoff said in a post to X late December 14. Zelenskyy was already scheduled to meet with key European backers -- the leaders of Germany, Britain, and France…

Oil tanker rates are set to stay elevated in early 2026 as crude supply is rising while the number of available vessels is shrinking due to the U.S. sanctions on Russia, Venezuela, and Iran, officials and analysts in the shipping industry tell Reuters. The daily rates for chartering a vessel to transport commodities have surged this year, with oil tanker rates skyrocketing by 467%, as shippers of a growing commodity supply are grappling with a series of route disruptions and sanctions.    Despite the typically weaker commodity…

Secretary of State Marco Rubio has realized that it is all about following the money. If the U.S. military posture in the Caribbean is one of "gunboat diplomacy" aimed at ushering in regime change in Caracas, Venezuela's capital, against the country's autocratic leader, Nicolás Maduro, then one way to accelerate regime instability is to weaken Cuba materially. During President Trump's first term, there was a brief moment in which the Maduro regime appeared close to being overthrown, but it was countered by support from Cuba. According to The…

China’s latest oil import data has been rather bullish, with November imports rising 5% year on year. Not only that, but China is building new storage capacity, so it can keep buying more crude, instead of demonstrating that its oil demand growth is weakening, as forecasters say. China is making oil demand forecasting uncertain. FGE NexantECA, for instance, recently reported that China’s apparent demand in October had been revised downwards to 14.6 million barrels of crude daily, or 570,000 barrels daily less than earlier expected.…

Canada could approve the development of a new oil pipeline, four years after plans for the cross-border Keystone XL Pipeline were scrapped over environmental and human rights concerns. While Canada’s oil-rich Alberta province is highly supportive of the plan, environmentalists and Indigenous leaders are concerned about what impact the development of a new pipeline might have on both land and communities. This marks a significant shift away from the national energy policy of recent years, which was increasingly focused on decarbonisation.…

As hyperscale operators race to deploy increasingly powerful infrastructure, the thermal limits of traditional data centers are being tested, triggering a massive surge in demand for advanced cooling technologies. According to a new report from Verified Market Reports, the global data center cooling market was valued at $14.21 billion in 2024 and is projected to reach $34.12 billion by 2033. This represents a compound annual growth rate (CAGR) of 10.3% over the forecast period, a trajectory driven by a fundamental shift in how the internet’s…

Since the Russian invasion of Ukraine in 2022, the global energy landscape has changed significantly, as the United States and Europe introduced strict sanctions on Russian energy. This led to a rapid movement away from Russian oil and gas by Europe, as countries scrambled to find alternative supplies. As Russia lost many of its main energy trade partners, it also looked elsewhere, offering oil and gas at heavily discounted prices. The tactic worked, as China and India stockpiled vast quantities of low-cost Russian energy. Moscow now aims to strengthen…

Escalating tensions between the United States and Venezuela could lead to profound changes in the oil industry of the world’s largest crude resource holder. Any regime change of President Nicolas Maduro could be a game-changer for oil production in Venezuela, U.S. access to Venezuela’s heavy crude fit for U.S. Gulf Coast refineries, and America’s influence in the Western Hemisphere and Latin America. Although it’s not certain that U.S. President Donald Trump would necessarily pursue regime change or an incursion of some…

In the remote geology of western Newfoundland, a specific formation of ancient oceanic crust is shifting from a subject of academic study to a target for industrial decarbonization. The region’s ophiolite belts, sections of Earth’s mantle pushed onto land, are drawing attention for their theoretical ability to produce low-cost hydrogen while permanently mineralizing carbon dioxide. This geological convergence arrives as the energy sector seeks scalable alternatives to manufactured hydrogen. While "green" hydrogen produced via electrolysis…

The economics of battery storage systems (BESS) in Europe look much rosier following changes to the European Union’s (EU) power pricing structure in October, with several countries offering the potential for BESS profits to rise more than a 15%, according to Rystad Energy analysis. The new EU system sets power prices every 15 minutes, rather than every hour, giving BESS operators more opportunities to buy electricity when it’s cheap and sell it when prices rise. Since the new system was implemented, arbitrage potential has increased…

The United Kingdom has big plans for its nuclear sector, with the construction of two conventional nuclear plants underway and plans to develop small modular reactor (SMR) technology. France’s EDF Energy is managing the development of the Hinkley Point C power plant in Somerset and Sizewell C in Suffolk, while Rolls-Royce was recently selected as the preferred bidder to construct the U.K.’s first SMRs. However, the plans do not stop there. In December, the country’s Energy Secretary Ed Miliband stated the government has “only…

An electrified future is going to require a whole lot of batteries. Keeping our power grids stable and our cars running won’t only necessitate huge increases in production for current battery models, but it will also hinge on the development of new technologies that have better energy efficiency, quicker charging, longer duration, and diversified supply chains. Currently, the market is almost completely dominated by lithium-ion batteries, but a litany of alternatives are quickly progressing through research and development phases and could…

Turkish President Recep Tayyip Erdogan is traveling to Turkmenistan for festivities December 12 marking the Central Asian state’s 30th anniversary of neutrality. While in Ashgabat, Erdogan will also hold talks with Turkmen leaders likely focusing on the topic of natural gas supplies. Speaking to reporters earlier in December, Turkish Energy Minister Alparslan Bayraktar said Ankara is working to expand gas imports via a long-time arrangement with Iran, augmented by a swap deal with Turkmenistan. A lack of clarity about sanctions currently…

South Sudan has moved troops into Sudan’s Heglig oil field under what it calls a tripartite agreement with Sudan’s two warring factions. The move is a rare arrangement aimed at shielding critical oil infrastructure as fighting escalates across West Kordofan. South Sudan’s army chief of staff, Paul Nang, appeared in a video address from Heglig, saying South Sudanese forces entered the field following an agreement between President Salva Kiir, Sudanese Armed Forces leader Abdelfattah El Burhan, and Rapid Support Forces commander…

South Sudan has moved troops into Sudan’s Heglig oil field under what it calls a tripartite agreement with Sudan’s two warring factions. The move is a rare arrangement aimed at shielding critical oil infrastructure as fighting escalates across West Kordofan. South Sudan’s army chief of staff, Paul Nang, appeared in a video address from Heglig, saying South Sudanese forces entered the field following an agreement between President Salva Kiir, Sudanese Armed Forces leader Abdelfattah El Burhan, and Rapid Support Forces commander…