In a contentiously pivotal move toward energy independence, Ukraine on Wednesday confirmed the launch of natural gas imports via the Trans-Balkan pipeline, bypassing Russian supply and allowing Ukraine to draw gas from European sources, including liquefied natural gas (LNG) imported through Greece and Azerbaijani gas from the Trans Adriatic Pipeline. The Trans-Balkan pipeline, which historically carried Russian gas southward, has now been reversed to bring non-Russian gas northward into Ukraine.  Source: TSOUA A Ukrainian energy ministry source…

In a contentiously pivotal move toward energy independence, Ukraine on Wednesday confirmed the launch of natural gas imports via the Trans-Balkan pipeline, bypassing Russian supply and allowing Ukraine to draw gas from European sources, including liquefied natural gas (LNG) imported through Greece and Azerbaijani gas from the Trans Adriatic Pipeline. The Trans-Balkan pipeline, which historically carried Russian gas southward, has now been reversed to bring non-Russian gas northward into Ukraine.  Source: TSOUA A Ukrainian energy ministry source…

In today’s high-stakes energy landscape, pipelines are more than conduits—they are critical geopolitical tripwires. These steel lifelines carry the hydrocarbons that power global economies, and many run through the most politically volatile regions on Earth. As energy markets tighten and global rivalries sharpen, the vulnerability of these routes transforms them into strategic flashpoints. From the Russian steppe to the Sahel, from Kurdish oil routes to frozen Nordic seafloors, infrastructure once seen as fixed and dependable is now…

WTI oil prices are set to average $58.30 per barrel this year, amid rising OPEC+ and U.S. production and relatively stable global oil demand, a survey of banks by law firm Haynes Boone showed on Wednesday. A total of 28 banks – a record high number – participated in Haynes Boone’s Spring 2025 Energy Bank Price Deck Survey, now in its 12th year. The banks on average expect WTI Crude prices to average $58.30 per barrel in 2025, down from $61.89 a barrel expected in Haynes Boone’s Fall 2024 survey. The banks’ reduction…

WTI oil prices are set to average $58.30 per barrel this year, amid rising OPEC+ and U.S. production and relatively stable global oil demand, a survey of banks by law firm Haynes Boone showed on Wednesday. A total of 28 banks – a record high number – participated in Haynes Boone’s Spring 2025 Energy Bank Price Deck Survey, now in its 12th year. The banks on average expect WTI Crude prices to average $58.30 per barrel in 2025, down from $61.89 a barrel expected in Haynes Boone’s Fall 2024 survey. The banks’ reduction…

The head of the International Atomic Energy Agency (IAEA) has warned about the ongoing risk of a nuclear accident in Ukraine, saying the "dangers to nuclear safety continue to be very real and ever-present." The presence of IAEA officials at nuclear facilities in Ukraine remains essential to help prevent a nuclear incident, Raphael Grossi said on June 3 after his 12th visit to Kyiv since the start of Russia's full-scale invasion in February 2022. The IAEA has played a role in safeguarding the condition of Ukraine's nuclear power plants since then.…

In a bid to wean the U.S. critical minerals supply chain off China, U.S. President Donald Trump plans to use emergency powers under the Defense Production Act to bolster domestic production and processing of these metals vital for the energy and defense industries, Reuters reports, citing a document to be published on Wednesday. The Defense Production Act is a U.S. law that grants the President powers to ensure the nation’s defense by expanding and expediting the supply of materials and services from the domestic industrial base. The White…

In a bid to wean the U.S. critical minerals supply chain off China, U.S. President Donald Trump plans to use emergency powers under the Defense Production Act to bolster domestic production and processing of these metals vital for the energy and defense industries, Reuters reports, citing a document to be published on Wednesday. The Defense Production Act is a U.S. law that grants the President powers to ensure the nation’s defense by expanding and expediting the supply of materials and services from the domestic industrial base. The White…

Crude oil inventories in the United States fell by 4.3 million barrels during the week ending May 30, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil prices were trading up prior to the crude data release by the U.S. Energy Information Administration. On Tuesday, the American Petroleum Institute (API) reported a drop of 3.3 million barrels in U.S. crude oil inventories, with a sizable build in gasoline stocks. At 10:21 am in New York, the Brent benchmark was trading up $0.18 per barrel (+0.27%)…

Russia’s National Wealth Fund, a rainy-day reserves fund, saw its liquid assets drop by the equivalent of nearly $6 billion in May, data from the Russian finance ministry showed on Wednesday. The National Wealth Fund had its readily available liquid assets drop by $5.75 billion (453.8 billion Russian rubles) in May, and the total value dropped to $35.5 billion (2.8 trillion rubles). The National Wealth Fund’s liquid assets have plunged by 68% since the start of the Russian invasion of Ukraine in February 2022, Bloomberg has estimated.…

Russia’s National Wealth Fund, a rainy-day reserves fund, saw its liquid assets drop by the equivalent of nearly $6 billion in May, data from the Russian finance ministry showed on Wednesday. The National Wealth Fund had its readily available liquid assets drop by $5.75 billion (453.8 billion Russian rubles) in May, and the total value dropped to $35.5 billion (2.8 trillion rubles). The National Wealth Fund’s liquid assets have plunged by 68% since the start of the Russian invasion of Ukraine in February 2022, Bloomberg has estimated.…

Russia’s National Wealth Fund, a rainy-day reserves fund, saw its liquid assets drop by the equivalent of nearly $6 billion in May, data from the Russian finance ministry showed on Wednesday. The National Wealth Fund had its readily available liquid assets drop by $5.75 billion (453.8 billion Russian rubles) in May, and the total value dropped to $35.5 billion (2.8 trillion rubles). The National Wealth Fund’s liquid assets have plunged by 68% since the start of the Russian invasion of Ukraine in February 2022, Bloomberg has estimated.…

Kazakhstan’s national oil and gas company KazMunayGas is looking to borrow cheaper funds from overseas debt issues, including bonds denominated in Chinese yuan, the firm’s chief executive Askhat Khassenov told Bloomberg. “We looked at all options. Currently there is a possibility to sell dim sum, panda bonds,” Khassenov said in an interview with Bloomberg published on Wednesday. KazMunayGas is also exploring opportunities to issue debt in Arab countries, as the company seeks cheaper borrowing terms, the executive added.…

Japanese utilities are boosting their inventories of LNG ahead of the peak summer demand season, as power demand has been weaker in recent weeks. The LNG stocks held by Japan’s utilities are already higher compared to the same time last year, according to government data cited by Argus. The LNG inventories increased by 4.6% on June 1 from a week earlier, a survey by Japan’s trade and industry ministry showed. This week, Japan’s LNG stocks at utilities are 1.3% above the volume from the same week last year and 7.6% higher compared…

OPEC+ did what everyone expected it to do last weekend, announcing another production ramp-up. Prices, however, did something that not everyone expected them to do: they went up. All eyes are now on demand—and the disruption of supply. The eight members of OPEC+ that were keeping their production of crude oil under restraints agreed on Saturday to add another 411,000 barrels daily to their combined total in July after making identical agreements for May and June. The news followed speculation reported by the media that the cartel could add…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell again this week, this time by 3.3 million barrels in the week ending May 30 after analysts had estimated a 900,000-barrel draw. The API reported a 4.236 million barrel inventory decrease in the prior week. So far this year, crude oil inventories are up more than 18 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…

The conversation about low-carbon hydrogen continued last week at the annual World Utilities Congress, hosted by the multinational energy and water company TAQA in Abu Dhabi. While the hoped-for future trade between Europe and the Middle East and North Africa (MENA) remained in focus, a shift in emphasis appeared. While national goals look increasingly dubious, progress is occurring in specific industry sectors guided by international agreements. Meanwhile, MENA countries confront the imperative to develop domestic markets for their clean hydrogen.…

Since U.S. President Donald Trump took office, the number of applications for carbon capture projects has nosedived, signaling a slowdown in the efforts to commercialize the relatively new technology to remove carbon from the air. Since the Trump Administration signaled it would be axing clean energy subsidies and tax credits, the nascent carbon capture sector, led by some of the biggest U.S. oil firms, has faced increasing uncertainty about the viability of many projects. Carbon Capture Applications Plunge As a result, the application process…

In recent years, Colombia’s oil production and reserves have been in decline and interest in investing in the country’s crude seemed limited in the post-pandemic landscape. In addition, President Petro has been vocal about supporting a green transition and restricting investment in new fossil fuel projects. However, in recent months, there has been a renewed interest in developing exploration and production.  Colombia has long relied on its fossil fuel revenues to support the national economy, with oil and gas contributing around…

Long reliant on gas to meet its energy needs, Singapore is now turning to regional interconnections, primarily via subsea cables, to link national grids and enable cross-border electricity trade. This shift aims to accelerate decarbonization and decouple domestic electricity prices from global gas market volatility. Research from Rystad Energy indicates that if all proposed interconnections to Singapore are realized, they could unlock up to 25 gigawatts (GW) of renewable and energy storage projects worth more than $40 billion in investment across…