The EU imported 58% of its energy consumption in 2020, as its own production met only 42% of its needs, according to Eurostat data released. The EU energy mix in 2020 consisted of 35% oil and oil products, 24% natural gas, 17% renewable energy, 13% nuclear energy and 11% solid fossil fuels. Russia is the […]
Tag: oil
Germany: Burbok announces gradual de facto embargo on Russian oil
“Complete national withdrawal from Russian energy dependence,” German Foreign Minister Alelena Berbock announced, referring to a “gradual, de facto, embargo” on Russian oil. For his part, Economy and Climate Policy Minister Robert Habeck stressed that “one should be blind not to see that energy policy has always been a security policy.” Speaking at the International […]
UAE and Saudi Arabia do their part to balance oil markets, their ministers say
The energy ministers of Saudi Arabia and the United Arab Emirates, two of the world’s largest oil producers, said today that their countries have done their part to balance crude markets. “We have a mission and a unique mission to stabilize the market. So we can not politicize or bring politics into the organization by […]
Saudi Arabia again rejects measures against Russia in OPEC +
OPEC + will keep political differences out of the realm of oil production decisions, to the benefit of the “common good” for stabilizing energy prices, Saudi Arabia’s energy minister said on Tuesday. As governments and international organizations condemn or exclude Russia – an oil-producing country and a partner in the OPEC + bloc – over […]
New fall in oil prices
Oil prices are falling again, widening the losses from yesterday’s meeting, as Ukraine and Russia are leading to negotiations due to concerns about a drop in China’s oil demand after the lockdown in Shanghai, following the rise in crude oil. coronavirus. Brent was down $ 1.18, or 1.1%, at $ 111.30 a barrel, up from […]
Diving over 6% for oil
LAST UPDATE 14:46 Developments in Ukraine brought ups and downs in crude trading, as after a day of intense volatility and sign changes, prices came under massive sellers’ attack after Russia announced that it was freezing its attack. Brent crude for May delivery was down 6.2% at $ 6.97 a barrel at $ 105.5 a […]
UAE: Oil producers are now considered superheroes and that will not work
Oil producers who felt out of place at last year’s COP 26 summit are now being treated as superheroes because of strong demand for their reserves, UAE Energy Minister Suhail al-Mazroui said at an industry event. Mazroui said it is not possible to have sub-investments and promote renewable energy sources and then call for increased […]
Oil: Prices fall after the lockdown in Shanghai
Oil prices fell more than $ 5 a barrel on Monday as concerns about weaker fuel demand in China intensified after Shanghai launched a two-stage lockdown to curb rising rates. The market began another week of uncertainty, with Russia’s war in Ukraine, the world’s second-largest oil exporter, and the expansion of lockdowns due to rising […]
Oil: Prices fall after shanghai lockdown – Gas rises slightly
LAST UPDATE: 12.23 International oil prices fell more than $ 4 on Monday as concerns about weaker fuel demand in China escalated after Shanghai launched a two-stage lockdown to curb rising rates. The market began another week of uncertainty, with Russia’s war in Ukraine, the world’s second-largest oil exporter, and the expansion of lockdowns due […]
Oil losses at 5% after Shanghai lockdown – Gas slightly up
LAST UPDATE: 16:10 International oil prices fell more than $ 5 a barrel on Monday as concerns about weaker fuel demand in China intensified after Shanghai launched a two-stage lockdown to curb rising rates. The market began another week of uncertainty, with Russia’s war in Ukraine, the world’s second-largest oil exporter, and the expansion of […]
