Natural gas markets have recorded a sharp spike in the current week with Henry Hub prices jumping 24% to $2.06/MMBtu as Europe mulls cutting off more Russian gas. Last month, EU energy chief Kadri Simson signaled that the EU executive has "no interest" in pushing Kyiv to renew its 5-year contract with Moscow, responsible for the supply of ~5% of Europe’s...

Exxon Mobil Corporation has finalized its acquisition of Pioneer Natural Resources, marking a monumental milestone in the energy sector. With a price tag of $60 billion, this deal stands as one of the largest oil-and-gas acquisitions in recent memory, reshaping the landscape of the industry. The completion of this megadeal significantly bolsters Exxon's...

The United States, the UK, Italy, France, Japan, Germany, and Canada this week struck an agreement to end the use of coal for power generation by 2035. The news was lauded by some in the green lobby while others, namely Greenpeace, called it “too little, too late”. Now, the biggest question is whether the G7 will turn words into actions—or rather, can...

The UK’s North Sea Transition Authority (NSTA) offered on Friday another 31 licenses for North Sea exploration in the final tranche of the 33rd oil and gas licensing round.   In all three tranches of the licensing round, the UK regulator has awarded over the past few months a total of 82 licenses to 50 companies. The first tranche offered 27 licenses...

Imposing a tax on big fossil fuel companies could boost climate finance by up to $900 billion by the end of the decade. The International Energy Agency (IEA) has repeatedly emphasized the need for higher levels of climate funding to meet global climate goals and achieve a green transition, but finding this money is not so easy. A recent report has potentially...

It seems that the Kremlin is having a hard time accepting that Russia is playing second fiddle to China when it comes to trade in Central Asia. The reluctance of Russian officials to acknowledge trade reality was on display at a late April trade fair, held in the Uzbek capital Tashkent. In a speech at the exhibition, Igor Kamynin, Russia’s deputy trade...