New PNOC-EC board directors named

PNOC Exploration Corp., the oil, gas, and coal exploration arm of the government, welcomed the five new members of its board of directors.

The gas war between Russia and the West

Natural gas has emerged as a weapon of war between Russia and Europe since Moscow’s February 24 invasion of Ukraine. Here is how the standoff developed: – Nord Stream 2 halted – On February 22, 2022, German Chancellor Olaf Scholz says he is suspending the Nord Stream 2 pipeline project with Russia in response to […]

Climate-stricken world needs renewables Marshall Plan: UN chief

UN chief Antonio Guterres on Wednesday outlined what amounts to a global Marshall Plan for ushering in a world powered by renewable energy rather than coal, gas and oil. To avoid catastrophic climate change, humanity must “end fossil fuel pollution and accelerate the renewable energy transition, before we incinerate our only home,” he said in […]

Germany warns energy security trumps porpoise habitat

by Hui Min NEO Germany’s economy minister has urged environmental activists to avoid filing lawsuits against plans for new LNG terminals, warning that their zealousness to save porpoises could inadvertently strengthen the hand of Vladimir Putin. Germany is racing to build liquefied natural gas terminals to receive supplies from farther afield in its bid to […]

Japan rules out withdrawal from joint Russia gas project

Japan has no plans to withdraw from a joint Russian oil and gas project, despite joining tough sanctions on Moscow over its Ukraine invasion, Prime Minister Fumio Kishida said Thursday. Energy resource-poor Japan is attempting to balance its need for fossil fuels with toeing a hard line on Russia, and has faced questions over its […]

Putin tells Scholz gas payments can continue in euros: Berlin

The German government said that Russian President Vladimir Putin told Chancellor Olaf Scholz on Wednesday that Europe could continue paying for Russian gas in euros and not rubles as previously announced. German government spokesman Steffen Hebestreit said Putin had told Scholz that payments from Europe next month “would continue to be in euros and transferred […]

Paying for Russian gas in rubles is ‘unacceptable’, says G7

Paying for Russian gas in rubles would be unacceptable, G7 countries reiterated on Monday, with German Economy Minister Robert Habeck saying the demand showed President Vladimir Putin’s back was “against the wall”. “All G7 (energy) ministers agreed that this is a unilateral and clear breach of the existing agreements,” said Habeck, whose country holds the […]

In fair phase-out of oil, gas rich nations stop first

  by Marlowe HOOD Rich countries must end their oil and gas production by 2034 to cap global warming at 1.5 degrees Celsius and give poorer nations time to replace fossil fuel income, according to a report released Tuesday. The 70-page analysis from the Tyndall Centre for Climate Change Research comes as nearly 200 nations […]

Fitch downgrades Russia oil, gas firms on default risk

Credit rater Fitch Saturday downgraded 28 Russian natural resources companies including state gas giant Gazprom, warning they risk defaulting on payments under sanctions imposed for Russia’s invasion of Ukraine. Fitch Ratings said in a statement it had lowered the rating on the companies, which also include oil producer Lukoil and miner Rusal, from B to […]