<strong>Price Cap On Russian Refined Fuels To Disrupt Trade</strong> 

Price Cap On Russian Refined Fuels To Disrupt Trade 

The European Union’s ban on imports of Russian refined oil products, including diesel and jet fuel, will disrupt global flows once it takes effect on Sunday and could hurt Moscow more than an embargo on crude oil.  Although Western sanctions...
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Shell To Pay First UK tax In Five Years

Shell To Pay First UK tax In Five Years

Shell has said it will pay tax in the UK for the first time since 2017 after making huge global profits last year.  The energy firm said it expected to “take a hit” of around $2bn (£1.7bn) on profits in...
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ExxonMobil Sues EU To Block Energy Windfall Tax

ExxonMobil Sues EU To Block Energy Windfall Tax

US energy giant ExxonMobil is suing the European Union (EU) in a bid to stop its new windfall tax on oil firms.  A windfall tax is imposed on firms that benefited from something they were not responsible for.  Energy firms...
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<strong>Oil Bounces On Pipeline Shutdown </strong>

Oil Bounces On Pipeline Shutdown 

Oil prices bounced on Friday as closure of a major Canada-to-U.S. crude pipeline disrupted supplies, but both benchmarks were headed for a weekly loss on worries over slowing global demand growth.  Brent crude futures were at $76.70 a barrel, up...
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UK To Double US Gas Imports

UK To Double US Gas Imports

The United Kingdom has agreed to double imports of US gas over the next year as it tries to stabilise soaring energy prices.  Prime Minister Rishi Sunak said the plan would “bring down prices for British consumers and help end Europe’s...
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TotalEnergies To Cut North Sea Investment 

TotalEnergies To Cut North Sea Investment 

French oil giant TotalEnergies has said it will cut North Sea investment by 25% next year after the windfall tax on oil and gas firms in the UK was extended.  The company will cut £100m of spending on new wells...
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Oil Muted As Price Cap Proposal Eases Supply Concerns

Oil Muted As Price Cap Proposal Eases Supply Concerns

Benchmark Brent oil edged lower on Thursday while West Texas Intermediate (WTI) crude held steady, hovering in sight of two-month lows as the level of a proposed G7 cap on the price of Russian oil raised doubts about how much...
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Samsung Secures $1.08b Deal For Five LNG Carriers 

Samsung Secures $1.08b Deal For Five LNG Carriers 

South Korean shipbuilder Samsung Heavy Industries (SHI) has received orders for the construction of five liquefied natural gas (LNG) carriers.  Already, the South Korean shipbuilder signed a shipbuilding contract with an undisclosed shipowner in Oceania.&...
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Qatar, China Seal 27-Year LNG Supply Deal 

Qatar, China Seal 27-Year LNG Supply Deal 

QatarEnergy and China Petroleum & Chemical Corporation (Sinopec) have entered into a 27-year sale and purchase agreement (SPA) for the supply of 4 million tons per annum (mtpa) of liquefied natural gas (LNG) to China.  The contracted LNG vol...
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Oil Falls As China Sticks To Strict COVID Policy

Oil Falls As China Sticks To Strict COVID Policy

Oil prices fell more than 2% at the start of Asia trade on Monday after Chinese officials at the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world’s top crude...
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LNG: TotalEnergies Targets Top Position, Tô Expand Bunker Services

LNG: TotalEnergies Targets Top Position, Tô Expand Bunker Services

French energy giant, TotalEnergies is ramping up investments in Liquefied Natural Gas (LNG) in a scenario that excludes Russia and is in a ‘very favourable’ position to benefit from the evolution of energy markets as a result of the energy transition....
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MISC,  ExxonMobil Unit, Strengthen LNG Carrier Deal 

MISC,  ExxonMobil Unit, Strengthen LNG Carrier Deal 

MISC Berhad (MISC), owner and operator of Liquefied Natural Gas (LNG) carriers, has strengthened its partnership with ExxonMobil’s unit SeaRiver Maritime with new long-term time charter contracts.  Meanwhile, MISC has also signed an agreement with ...
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Oil Dips On Weak Demand Fear, Strong Dollar

Oil Dips On Weak Demand Fear, Strong Dollar

Oil prices drifted lower on Thursday as weak demand concerns over a large build in the crude inventory in the United States plus a strong dollar overtook potential supply disruption as the centre of focus, Reuters reported.  The main Brent...
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Oil Slides More Than $7 On Inflation, Iraq Exports

Oil Slides More Than $7 On Inflation, Iraq Exports

Oil prices fell more than $7 a barrel on Tuesday, the steepest decline in about a month, on fears that an inflation-induced weakening of global economies would soften fuel demand and as unrest in Iraq has failed to put a dent...
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