Gazprom's gas exports to Europe have slumped in 2022, but record high gas prices meant the company was still able to post record revenues and net profit for the first half.

UK was facing a “catastrophic winter”, telling the BBC that half of all households could fall into fuel poverty without intervention.

Households in the Nordic country have already been told to prepare for rolling power cuts in the winter, as there will be no supplies from Russia to help meet peak demand.

Fennovoima said its claims currently total almost EUR2 billion (USD2 billion), while Rosatom said it is seeking USD3 billion from Fennovoima.

Subsidies, which will be incorporated into power bills, are expected to absorb up to 94% of the rise in monthly power bills for households and 89% of the rise for small and medium-sized firms.

The Saudi Arabian Oil Company (“Aramco” or “the Company”) announced its financial results for the second quarter of 2022, posting a 90% year-on-year (YoY) increase in net income

For 2023, the forecast for world oil demand growth remains unchanged at 2.7 mb/d, with total oil demand averaging 102.7 mb/d.

The legislation is aimed at reducing carbon emissions and shifting consumers to green energy,

Al-Ghais noted that oil investments have not yet returned to pre-pandemic levels. He said it is difficult to forecast oil markets due to the current global economic conditions.

Saudi Arabia would be looking to secure investments in untapped business sectors, including green hydrogen, renewable energy, and information technology.

The Committee decided to raise the target range for the federal funds rate to 2-1/4 to 2-1/2 percent and anticipates that ongoing increases in the target range will be appropriate.

The company boosted coal production by 6.2% to 300 million tons and increased sales to 390 million tons.

The two programs – the Carbon Capture Demonstration Projects Program and the Carbon Dioxide Transport/Front-End Engineering Design (FEED) Program – are funded by a more than $2.6 billion investment from President Biden’s Bipartisan Infrastructure Law.

Total oil demand is projected to average 100.3 mb/d. For 2023, world oil demand growth is expected to reach 2.7 mb/d to average 103.0 mb/d.

The oil ministry said June 29 that India would allow operators to sell locally-produced crude in the domestic market without restrictions from Oct. 1, but restrictions on exporting locally-produced crude would remain.