Slovakia’s government is planning to increase its intake of Russian pipeline gas under a temporary EU exemption, reversing earlier commitments to phase out Russian energy supplies in a controversial move amid a growing bloc-wide crackdown on Russian fossil fuels. The exemption allows Bratislava to continue drawing from Gazprom supplies until 2027, aligning with a long-term contract that runs through 2034.  The decision comes after Slovak Prime Minister Robert Fico lifted his veto on the EU’s newest sanctions package against Russia,…

In late May, President Trump issued four separate Executive Orders (EOs)  with respect to growing the nuclear power industry in the US. As the implementation of these orders begins, several Washington focused publications have written about one emerging consequence of these EOs—the likely termination of NRC oversight with respect to approval of new nuclear reactor designs. This major responsibility is being moved to the Pentagon and the Department of Energy. One administration official referred to the NRC’s prospective role in…

Slovakia’s government is planning to increase its intake of Russian pipeline gas under a temporary EU exemption, reversing earlier commitments to phase out Russian energy supplies in a controversial move amid a growing bloc-wide crackdown on Russian fossil fuels. The exemption allows Bratislava to continue drawing from Gazprom supplies until 2027, aligning with a long-term contract that runs through 2034.  The decision comes after Slovak Prime Minister Robert Fico lifted his veto on the EU’s newest sanctions package against Russia,…

Azerbaijan is trying to implement a comprehensive plan to overhaul the domestic heating and electricity market, not only expanding renewables’ share of power generation but also implementing liberalization measures. The reforms stand to generate a fair amount of public discontent. A series of laws adopted by Azerbaijan’s rubber-stamp parliament in the spring is paving the way for tariff reform in the domestic energy market, namely heating and electricity. The changes, especially when it comes to setting usage rates, are occurring with…

China sharply curtailed exports of two key critical minerals in June, with outbound shipments of antimony falling by 88% and germanium by 95% compared to January levels, Asia Financial reported on Monday, noting that the drop reflects Beijing’s intensifying crackdown on transshipment and unauthorized export activity after discovering that material was being routed through third countries such as Thailand and Mexico.  The measures come amid escalating geopolitical competition over supply chains for strategic metals used in semiconductors,…

China sharply curtailed exports of two key critical minerals in June, with outbound shipments of antimony falling by 88% and germanium by 95% compared to January levels, Asia Financial reported on Monday, noting that the drop reflects Beijing’s intensifying crackdown on transshipment and unauthorized export activity after discovering that material was being routed through third countries such as Thailand and Mexico.  The measures come amid escalating geopolitical competition over supply chains for strategic metals used in semiconductors,…

In September, the European Steel Association (Eurofer) plans to introduce a proposal for an early and intensified safeguard system on imports. According to director Axel Eggert, this would replace the current general safeguard system used by the steel industry. Eurofer stated that the proposed system includes stronger tariff-rate quota (TRQ) protections for European producers, with consistent enforcement across all exporting countries. The trade body added that the TRQs would apply to all steel categories, including downstream and derivative products.…

BP has appointed Albert Manifold as its new chairman, selecting the former CRH chief executive to lead the board at a time of heightened investor pressure and strategic uncertainty. Manifold will join BP as chair-elect on September 1 and take over from Helge Lund on October 1, the company said in a press release on Monday. The leadership transition follows a period of sustained criticism from shareholders frustrated by BP’s wavering energy transition roadmap and perceived underperformance relative to rivals. Manifold, 62, brings a track record…

BP has appointed Albert Manifold as its new chairman, selecting the former CRH chief executive to lead the board at a time of heightened investor pressure and strategic uncertainty. Manifold will join BP as chair-elect on September 1 and take over from Helge Lund on October 1, the company said in a press release on Monday. The leadership transition follows a period of sustained criticism from shareholders frustrated by BP’s wavering energy transition roadmap and perceived underperformance relative to rivals. Manifold, 62, brings a track record…

The series of attacks against oil fields in the semi-autonomous Kurdistan Region of Iraq (KRI) last week underlines OilPrice.com’s long-stated view that the dispute between this Region and the Federal Government of Iraq (FGI) is not really to do with oil at all – it is all about sovereignty. The FGI in Baghdad does not want the KRI in Erbil to have any independence from it, and the KRI wants to have more. The FGI’s stance aligns perfectly with that of its key sponsors China and Russia. This was relayed to OilPrice.com some time…

Var Energi has made a commercial gas and condensate discovery near its Fenja oilfield in the Norwegian Sea and could develop it as a tie-in to the producing field, the Norwegian oil company said on Monday.  Var Energi, which holds 75% and is the operator of the exploration license, has made the gas and condensate discovery in the Vidsyn exploration well, confirming discovered recoverable resources in the range of 25 to 40 million barrels of oil equivalent (boe).  The discovery is only 8 kilometers (5 miles) from the existing Fenja subsea…

Var Energi has made a commercial gas and condensate discovery near its Fenja oilfield in the Norwegian Sea and could develop it as a tie-in to the producing field, the Norwegian oil company said on Monday.  Var Energi, which holds 75% and is the operator of the exploration license, has made the gas and condensate discovery in the Vidsyn exploration well, confirming discovered recoverable resources in the range of 25 to 40 million barrels of oil equivalent (boe).  The discovery is only 8 kilometers (5 miles) from the existing Fenja subsea…

Iran is set to meet with officials from Britain, France, and Germany -- the so-called European three (E3) -- on July 25 in Istanbul to discuss the country’s nuclear program as Western nations turn up the pressure on Tehran to reach a settlement or face new sanctions. Iranian Foreign Ministry spokesman Esmail Baghaei late on July 20 said the talks would be held at the level of deputy foreign ministers. "In response to the request of European countries, Iran has agreed to hold a new round of talks," Baghaei told state TV. Earlier, Iranian Foreign…

The world’s natural gas production fell in May compared to April, driven by lower output in Russia, the United States, and Norway, according to the latest data by the Joint Organizations Data Initiative (JODI).   The Monthly Oil & Gas Data Review of the latest JODI oil and gas databases updates showed on Monday that natural gas production in the 58 countries that have updated their most recent self-reported figures for May declined by 4.8 billion cubic meters (bcm) in May compared to April.  The monthly drop was driven…

I remember years ago eating lunch with my father and his financial advisor. I stated what I thought was an indisputable fact. I said history suggests that stock markets can not only go down but stay down for many, many years. I cited the 1966 top in U.S. stocks and the secular bear market that ensued and lasted until 1982. He asked me if I was recommending that investors bet against America. I said I wouldn't put it that way. I explained that the world was moving toward an era of energy scarcity, and that since energy is the key factor in economic…

Saudi Arabia’s crude oil exports rose to a three-month high in May, the latest data by the Joint Organizations Data Initiative (JODI) showed on Monday, as the Kingdom leads the OPEC+ production increases this summer. Saudi Arabia, the world’s top crude oil exporter, saw its shipments rise by 25,000 barrels per day (bpd) from April to 6.19 million in May, according to the JODI data which compiles self-reported figures from the individual countries.  The export levels in May reached the highest since February this year, when the…

Crude oil prices began trade this week with a modest gain after on Friday the European Union approved the 18th package of sanctions against Russia, targeting once again its energy industry with a lower price cap and specific sanctions against energy companies. Brent crude was trading at $69.35 per barrel at the time of writing, and West Texas Intermediate was trading at $67.52 per barrel. Russia’s flagship Urals, which the EU has now capped at 15% below its market price in an attempt to make the whole idea of a price cap work after indirectly…

China has broken ground on what promises to be the world’s largest hydropower dam, a giant project on the eastern edge of the Tibetan Plateau that underscores Beijing’s dual ambitions: securing energy independence and solidifying geopolitical leverage over one of Asia’s most important rivers. Premier Li Qiang’s formal launch of the $170 billion venture, described as a “project of the century”, is a symbolic reminder of China’s willingness to bet big on infrastructure as part of its climate and industrial…

Oil prices were little changed in early Asian trading on Monday following a week of losses, as traders digested the impact of fresh European sanctions on Russian oil exports and closely monitored progress in U.S. trade policy developments ahead of looming tariff deadlines. By midday in Beijing, Brent crude futures were slightly up at $69.39 per barrel and West Texas Intermediate (WTI) crude futures hovered around $67.53 per barrel, reflecting a muted reaction to last week’s developments. This stability follows a nearly 1.5% decline last week,…

Pipelines are the unsung backbone of the global energy system–quietly moving billions of barrels of oil and trillions of cubic feet of gas with unmatched efficiency, reliability, and scale. In the U.S., they handle nearly 70% of all petroleum shipments, or over 14 billion barrels annually, without the headlines or volatility of seaborne trade. What makes pipelines indispensable isn’t just cost or carbon footprint; it’s continuity. Cross-border systems like Russia’s Druzhba and Canada’s Keystone aren’t just conduits;…