oil and gas

It completes the release of 180 million barrels authorized by Biden in March that was initially supposed to occur over six months

President Joe Biden is effectively acknowledging the failure of one of his biggest foreign policy gambles: a fist-bump with the de facto leader of Saudi Arabia, the crown prince associated with human rights abuses.

Officials say a fire at an oil refinery in Ohio killed two people and the facility has been shut down.

Saudi oil company Aramco’s half-year profits peaked just shy of $88 billion as oil prices remain high globally.

Sections of a renowned peatland tropical forest in the Congo Basin that plays a crucial role in Africa’s climate system go up for oil and gas auction in Kinshasa in the Democratic Republic of the Congo on Thursday.

Gas prices have been on a slow but steady decline across the U.S. since mid-June.

“I call on the companies to pass along every penny of this 18 cents reduction to the consumers,” President Joe Biden said Wednesday.

Biden warned refiners the administration is ready to “use all reasonable and appropriate Federal Government tools and emergency authorities to increase refinery capacity and output in the near term”

European countries that are dependent on Russian imports are looking to get greater access to the global natural gas market through a new pipeline that crosses a remote border area of Greece and Bulgaria. The pipeline is nearing completion, and it would ensure that large volumes of gas flows between the two countries in both directions. The project is seen...

The Kremlin warned other European Union countries could be next, sending shivers of worry through the 27-nation bloc

President Joe Biden is ordering the release of 1 million barrels of oil per day from the nation’s strategic petroleum reserve for six months in a bid to control energy prices

The White House on Thursday announced that the U.S. will release 1 million barrels of oil per day from strategic reserves.

The meeting comes more than a month after Russia launched its invasion of Ukraine.

In a call with German Chancellor Olaf Scholz, Russia’s Vladimir Putin said European firms could continue paying for gas supplies in euros or dollars.

Finance, geopolitics and cybersecurity will all be crucial in determining the scope and success of any energy transition.

With the U.S., EU and U.K. looking to phase out Russian gas imports, western leaders could look to LNG projects in sub-Saharan Africa to soften the landing.

One of the early casualties of Russia’s territorial ambitions in Ukraine was the Nord Stream 2 gas pipeline, a massive energy project that cost $11 billion.

Brent crude futures fell 5% early Thursday, while U.S. crude futures slid over 6%.

Poland’s government says it’s taking steps to cut Russian oil imports by the end of 2022 as Germany triggered an early warning level for natural gas supplies amid Russia’s war in Ukraine.

Germany said Wednesday the “early warning” measure was the first of three stages and does not yet imply a state intervention to ration gas supplies.