LONDON/FRANKFURT—The biggest single pipeline carrying Russian gas to Germany began annual maintenance on Monday, with flows expected to stop for 10 days, but governments, markets, and, companies are worried the shutdown might be extended because of the war in Ukraine. The Nord Stream 1 pipeline transports 55 billion cubic meters (bcm) a year of gas…
Europe on Edge as Nord Stream Russian Gas Link Enters Shutdown
July 11, 2022
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Business & Marketscommoditiescrisiseconomic policieseconomyEuropeGasMarketsNordRussiaRussia-Ukraine WarstreamUkraineWorld
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Germany’s ‘Social Peace Is in Great Danger’ as Gas Use Rationed Amid Energy Squeeze: Experts
Experts have warned that “social peace is in great danger” in Germany as the country has turned to rationing hot water, dimming its street lights, and shutting down swimming pools amid a nationwide energy crunch. According to local reports, Vonovia, the country’s largest residential landlord, announced on Thursday that it would be lowering the temperature of…
Putin Warns West: Sanctions Risk Energy Price Spike Catastrophe
July 8, 2022
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Business & MarketscommoditieseconomyEuropeGasinflationInternationalMarketsOilpricesPutinRussiaRussia-Ukraine WarWorld
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LONDON—President Vladimir Putin warned the West on Friday that continued sanctions against Russia over the war in Ukraine risked triggering catastrophic energy price rises for consumers around the world. Putin, who casts the sanctions imposed on Russia as a declaration of economic war, said that Western calls to reduce reliance on Russian energy had made…
Shell Boosts Oil and Gas Asset Value as Refining Soars
July 8, 2022
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Business & MarketsCompanieseconomic policieseconomyenergy pricesEuropeGasRussia-Ukraine WarRussia's invasionshellWorld
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LONDON—Shell said on Thursday it would reverse up to $4.5 billion in writedowns on oil and gas assets after it raised its energy prices outlook following Russia’s invasion of Ukraine. In an update before second quarter results on July 28, Shell said its refining margins almost tripled over the period, boosted by recovering global demand…
Freeland Says Surging Energy Prices Should Drive Green Transition
Deputy Prime Minister Chrystia Freeland says the government is absolutely concerned with the struggles Canadians are facing as a result of inflation, but insists the current energy crisis is another reason to focus on the green transition. After Freeland made a similar comment Tuesday several critics accused her of not caring about the suffering of…
Norwegian Oil and Gas Output Falls as Workers Begin Strike
OSLO—Norwegian offshore oil and gas workers went on strike over pay on Tuesday, the first day of planned industrial action that could cut the country’s gas exports by almost 60 percent and exacerbate supply shortages in the wake of the Ukraine war. By Saturday, daily gas exports would be cut by 1,117,000 barrels of oil…
Gazprom Proposes Adding LNG to Rouble for Gas Scheme Ifax
MOSCOW—Russian gas producer Gazprom has proposed expanding its rouble-for-gas scheme for pipeline gas to include liquefied natural gas (LNG), the Interfax news agency quoted a senior manager as saying on Monday. The proposal from Kirill Polous, a deputy department head at Gazprom, comes after Russia moved to seize operations of the Sakhalin-2 LNG plant last…
No Guarantees Swiss Will Always Have Enough Gas, Minister Says
ZURICH— Swiss businesses would be first to have energy rationed in the event of supply shortages, Energy Minister Simonetta Sommaruga told the SonntagsZeitung, warning that the government cannot guarantee there will always be enough gas to go around. Landlocked Switzerland gets its gas via trading hubs in neighboring countries in the European Union, so disruptions…
Biden Facing Pushback Over Gas Station Tweet; Uvalde School Police Chief Quits City Council | NTD News Today
President Joe Biden faces pushback for a tweet calling on gas stations to lower prices. A major U.S. energy lobby trolled the post, and Amazon founder Jeff Bezos also weighed in. New bodycam footage shows officers pursuing and shooting a man dozens of times in Akron, Ohio. Black Lives Matter protests have broken out in…
SoCal Gas Prices Dropping Amid Gas Tax Increase
July 1, 2022
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Gasgas pricegas taxLocal NewsNational average gas priceRegional NewsRegional-Local NewsSouthern CaliforniaUS
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Potential good news for residents planning for their Independence Day travel: the cost of filling up gas tanks in Southern California is dropping for more than two weeks as California’s gas tax raise takes effect July 1. The average price of a gallon of regular gasoline in Los Angeles County decreased for the 17th consecutive…
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