In a recent twist, Berlin is no longer ruling out shelving the pipeline project. But Europe is currently facing a winter energy crunch. Prices of natural gas have skyrocketed in recent months, and stockpiles in EU countries are at a five-year low.

Ukraine, which earns more than Poland from gas transit fees, may have to look at ways to diversify its own supplies and rethink its function in the European gas system. Until it does, it will continue to depend on Russia.

Federal oil exports in January dropped to 3.203 million b/d from 3.277 million b/d in December, according to the ministry figures.

U.S. commercial crude oil inventories increased by 2.4 million barrels from the previous week to 416.2 million barrels.

LPG exports from Iran since July-August 2021 were hovering near two-year highs of around 500,000 mt/month

The country's installed capacity is expected to increase by 38% from around 200 GW in 2021 to 275 GW in 2031, with 83% of renewables and 17% of non-renewables.

“the Iraqi-Saudi cooperation is not limited to the electrical connection only, but rather it is the beginning of a joint collective action,” Iraqi News Agency reported, citing the Prince.

Today, the U.S. Department of Energy (DOE) approved seven additional exchanges of 13.4 million barrels of crude oil for release from the Strategic Petroleum Reserve (SPR).

Shipments of Russian crude to the US in 2021 averaged 202,000 b/d, the highest in 11 years. Most of these imports consist of Russian export grades, such as Urals, ESPO Blend and Varandey.

Propane imports fell 11.5% month on month to 1.46 million mt in December, which was partially offset by butane imports rising 9.6% over the same period to 416,006 mt,

U.S. commercial crude oil inventories increased by 0.5 million barrels from the previous week to 413.8 million barrels.

The TTF day-ahead price hit an all-time high of Eur182.78/MWh on Dec. 21, an increase of 985% year on year,

Moscow plans to build a new pipeline to China, which could give Russia the power to sell gas to the highest bidder, pitting Chinese and European consumers against one another.

In 2022, the country is expected to commission 2,950 MW of power capacity and to build 4,632 km of transmission lines.

While US gas production was largely unchanged in the 2020 to 2021 new year, production declines of varying magnitudes and durations were recorded over at least the five new year's prior, dating back to the 2015-2016 winter season.