A small, largely overlooked country in South America has become the center of the world’s oil future, offering low-carbon and low-cost oil production with the potential for an output of 1 million bpd.

Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”, the head of the International Energy Agency (IEA) said on Tuesday (25 October).

Combined imports of thermal coal and coking coal from Russia jumped by 20% year over year in Sept to nearly 7 million tons.

…With energy costs rising, the government has been under pressure to finance support for homeowners….

…James Waddell at Energy Aspects said that prices were falling in the short-term because of “limited storage capacity remaining, low gas demand because of mild weather, and congestion in bringing in LNG and…

Natural gas in the Waha part of the Permian Basin was falling and trading close to zero, traders told Bloomberg on Monday.

…The assumption is the US, Qatar and other non-Russian sources of LNG are not going to “ride to the rescue” anytime soon….

…Europe has riposted with 50 bcm of additional LNG imports and 60 bcm of demand reductions….

Europe faces painful “industrial rationalisation” due to its energy crisis that risks political trouble, the head of Shell warned Sunday (23 October), as the oil giant joined a natural gas project in Qatar.

With sky-high energy prices driving many Europeans to look for alternatives to traditional providers, citizen-led green energy projects owned by the local population are pushing for a new format – though many face legal and practical difficulties.