English

Oil

Europe News

2% of Russian global oil supply affected following Ukrainian attack

ADVERTISEMENT

ADVERTISEMENT

More about this topic

Green News

Norway oil projects face stricter climate scrutiny after court ruling

The case worked its way through European legal systems for nearly a decade before the ruling.

Europe News

Viktor Orbán in push to reverse Trump's sanctions on Russian oil

Orbán said he will visit Trump next week to discuss Russian oil imports to Hungary after the US imposed sweeping sanctions. When asked if Trump's tariffs on Russian oil went too far, Orbán said yes.

Green News

Trump reopens Alaska wildlife refuge to oil and gas drilling

The Trump administration has approved plans to open Alaska’s Arctic National Wildlife Refuge to oil and gas drilling, rekindling fierce debate between economic interests and environmental protection.

Europe News

Donald Trump called Hungary's Orbán to discuss Russian oil imports

According to the Hungarians, Orbán told Trump that Hungary needs Russian fuel to keep its energy prices low, and Trump acknowledged this.

ADVERTISEMENT

Europe News

Hungary rebuffs Trump's call to cut Russian oil imports

Hungary said that alternative routes wouldn't suffice to replace Russian pipeline oil, after Donald Trump warned he would call Viktor Orbán to tell him to stop buying Russian oil. Experts say Hungary could use EU funds for the decoupling.

Climate

Former world leaders call for permanent taxes on oil and gas profits

During an energy price crisis in 2022, similar taxes raised billions, the authors argue.

Ukraine

Latest Russian missile and drone attack on Ukraine kills three

Russia launched over 600 drones and missiles towards nine regions across Ukraine. Meanwhile, Kyiv struck two Russian oil refineries, as part of its wider campaign against Russian oil and gas.

Business

Syria resumes oil exports after 14 years, with 600,000 barrels a day

Before 2010, when the protests against Bashar al-Assad led to a civil war in the country, oil provided more than half of Syria's income.

Business

BP launches cost-cutting scheme despite beating profit expectations

The business review comes just a few months after BP said it would save $4bn to $5bn by the end of 2027, relative to 2023 costs.

Business

OPEC+ agrees to boost oil production in large output hike

Eight OPEC+ countries meeting on Sunday agreed on a bump in oil production for September by 547,000 barrels per day.

Green News

The world loves argan oil but Morocco’s trees are paying the price

The hidden cost of argan oil's beauty boom is drought, deforestation and disappearing traditions.

Europe News

Poland discovers one of Europe's largest oil deposits in a decade

The Wolin East 1 well is estimated to hold 22 million tonnes of crude oil and 5 billion cubic metres of natural gas, with the broader concession potentially containing even more.

Iraq

Drone attacks salvo strikes multiple oil fields in Iraqi Kurdistan

Three oil fields in Iraqi Kurdistan were targeted by explosive drones on Wednesday, causing material damage without casualties.

Markets

Israel Iran conflict highlights Asia's dependence on Middle East oil

A blockade of the Strait of Hormuz could affect a number of Asian countries, making renewable energy capacity a crucial guard against volatility.

Business

Shell says it’s not in talks to acquire BP as takeover rumours swirl

BP’s share price jumped on the speculation that it could be acquired by Shell, following a report in the Wall Street Journal.

Europe in Motion

How crucial is the strait of Hormuz to the global energy market?

Although Israel and Iran's ceasefire which came into force on Tuesday removed the pending threat of the Strait of Hormuz's closure, this is not the first time that Iran has said it would block it.

Markets

Oil price drops, shares jump as Trump announces Israel-Iran ceasefire

Stocks rose and oil prices fell on Tuesday after President Trump said Israel and Iran had agreed to a ceasefire.

Markets

The dollar sees a rebound after US strikes Iran, but can it continue?

The greenback may rise further if Iran decides to block the Strait of Hormuz, while the value of safe-haven alternatives like the euro and the yen are predicted to slide.

No Comment

Indigenous protest as Brazil sells Amazon oil blocks

Indigenous groups and environmental activists rallied in Rio de Janeiro on Tuesday as Brazil auctioned off oil blocks near the ecologically sensitive Amazon River mouth.

Markets

Oil prices surge, Europe’s markets open lower on Israel Iran strikes

Israel launched strikes targeting Iranian nuclear facilities, which killed top officials according to Iranian state media — including Revolutionary Guard chief Hossein Salami.