The strike in Norway’s energy sector has ended after the country’s government intervened, a union leader and the labor ministry said. Offshore drilling workers in Norway went on strike today, which would cut oil and gas production, especially the latter, by nearly 60%, worsening the strained situation with flows in Europe due to the war […]
Tag: energy crisis
Citi sees the possibility of oil collapsing up to $45
Oil could collapse to $65 a barrel by the end of this year, but also to $45 by the end of 2023, in the event of a recession that destroys demand, Citigroup warned. According to the Citi report, this case is based on the absence of any intervention by OPEC+ producers and a potential reduction […]
Oil falls below $100 with a 9% drop
Oil futures traded heavy losses, taking prices below $100 for a long time, as growing concerns about the risk of an impending recession offset the supply hit from strikes in Norway. In particular, Brent for September delivery is moving with losses of 11 dollars or 9.8% and sees its price falling to 102.4 dollars per […]
Oil under 100 dollars with a 10% slide
LAST UPDATE 20.15 Oil futures traded heavy losses, taking prices below $100 for a long time, as growing concerns about the risk of an impending recession offset the supply hit from strikes in Norway. In particular, Brent for September delivery is moving with losses of 11.9 dollars or 10.4% and sees its price drop to […]
Under $100 Crude With 10% Plunge
LAST UPDATE 20.25 Oil futures traded heavy losses, taking prices below $100 for a long time, as growing concerns about the risk of an impending recession offset the supply hit from strikes in Norway. In particular, Brent for September delivery is moving with losses of 11.9 dollars or 10.4% and sees its price drop to […]
Below $100 oil after two months
LAST UPDATE 22.30 Heavy losses sent prices below $100 after a while, as growing worries about the risk of an impending recession offset fears of tight supply. Specifically, Brent for September delivery ended trading with losses of $10.73 or 9.5% and saw its price drop to 102.7 dollars the barrel, at its lowest level since […]
Germany: Energy suppliers under the specter of bankruptcy
The giant efforts of the government to prevent the worst in the energy sector in the pages of the press. Energy saving “exercises” for consumers. The historic challenges facing Germany with the now visible risk of bankruptcy of energy suppliers due to Russian energy interruption, are pushing the government to fast track legislative procedures. The […]
EDF expects nuclear output cuts, further straining Europe’s energy supply
Electricite de France SA (EDF) may be forced to cut output at some of its French nuclear reactors during the summer as drought reduces the amount of river water available for cooling, according to Bloomberg. Power cuts, which have already occurred a few times at one station in June, will add further pressure to Europe’s […]
Natural Gas ‘Jump’ 700% Since Last Year – Driving Force of the New Cold War
One morning in early June, a fire broke out at an unknown LNG facility in Texas from where it is shipped overseas. It was extinguished in about 40 minutes. No one was injured, Bloomberg notes. It sounds like a story for the local press, except that more than three weeks later, the economic and political […]
Meeting on energy: A positive message for energy sufficiency in the country
By Haris Fludopoulos Greece presents one of the lowest supply sufficiency risks in Europe provided LNG is available. This is the main conclusion of the extraordinary meeting of the agencies held today at the Ministry of Energy under the responsible minister Kostas Skrekas. “If lignites work and with the parallel possibility of working gas-oil plants, […]
