Ofgem’s decision to lower its energy price cap will result in a reduction of approximately £425 in annual household energy bills, making gas and electricity more affordable throughout Britain.
Russia acknowledges ‘issues’ as earnings from energy sector decline
Finance Minister Siluanov informs Vladimir Putin that the 50% drop in revenue is attributed to ‘all these discounts.’
Putin receives a £1.4bn surge as Russia’s oil exports reach a record high since the invasion.
Russia’s oil exports experienced a significant increase, reaching a peak not seen since the country’s invasion of Ukraine last month. This is part of Vladimir Putin’s plan to bolster his
The G7 and EU have decided to prohibit the resumption of Russian gas pipelines.
The G7 and the European Union (EU) are set to prohibit Russian gas imports via routes where Moscow has halted supplies, as per insiders involved in the discussions.
Winter fuel costs predicted to nearly triple amid escalating energy conflict driven by Putin
European fuel costs may nearly triple this winter and stay elevated until next summer, Goldman Sachs predicts, potentially impacting households and benefiting Vladimir Putin’s attempts to finance his Ukraine conflict.
European Gas Prices Plunge to Lowest in 21 Months, Undermining Putin’s Energy Battle
European natural gas prices have reached their lowest point in 21 months, undermining Vladimir Putin’s campaign in Ukraine.
When concessions expire, Norway intends to nationalize gas pipelines.
The Norwegian Ministry of Oil and Energy announced on Friday that it plans to nationalize a majority of its gas pipeline network by the time many current concessions expire in
The impact of Saudi Arabia’s cuts is starting to show as Putin’s exports of oil decline
As part of a commitment to reduce production, Russian oil exports have seen a significant decline. In the past week, oil flows from Russian ports fell by 1.24 million barrels
Could the UK be facing a ransom situation in the power market?
An investigation by Bloomberg News alleges that certain traders at firms such as Vitol, Uniper, and SSE have used a rather blunt approach to tackle the UK energy crisis: pay
Last year, energy companies in the UK installed 94,000 prepayment meters through mandatory measures
According to the government, Scottish Power, British Gas, and Ovo were accountable for 70% of the compulsory installations.
Following the resurgence of China, the price of oil is projected to reach $90.
Major analysts have suggested that due to China’s recovery from years of Covid lockdowns, the price of oil may rise to nearly $90 a barrel this year.