Search
France Leads G7 Effort to Achieve Major Fuel Price Cuts
Amid Middle East crisis, France coordinated the G7-backed release of 400 million barrels from strategic petroleum reserves. Fuel distributors committed to price reductions of 10 to...
The IEA Plans Record Oil Reserve Release, G7 Mobilizes
Australian Markets Rally on Gold, Metals Amid Iran Crisis
The S&P/ASX 200 advances 0.2% to 8,713.10, supported by rebounding mining stocks and gold, while the G7 mobilizes against soaring oil prices driven by Iran tensions....
Macron Summons G7 Leaders on Iran as Oil Plunges 11%
Facing the Iranian crisis and volatile oil markets, Emmanuel Macron convenes Group of Seven leaders. Petrobras prepares a diesel auction to ease Brazil's supply issues....
Macron Convokes G7 Emergency Summit on Iran Crisis and Oil Volatility
Emmanuel Macron has summoned G7 leaders to an emergency teleconference on the Iranian crisis and soaring energy prices, as the Islamic Revolutionary Guards impose Mojtaba Khamenei ...
G7 launches over 20 projects to counter Chinese influence on critical minerals
Meeting in Canada, G7 energy ministers unveiled a series of projects aimed at securing supply chains for critical minerals, in response to China’s restrictions on rare earth export...
G7 launches an alliance to secure critical minerals outside China
Energy ministers coordinate investment and traceability to curb China’s dominance in mineral refining and stabilize supply chains vital to electronics, defense, and energy under a ...
Canada and the United Kingdom strengthen energy alliance around critical minerals
Ottawa and London increased bilateral exchanges to structure strategic cooperation on nuclear energy and critical minerals supply chains, as part of Canada’s G7 presidency....
Russian crude exports hit 18-month high despite sanctions pressure
Russian seaborne crude shipments surged in September to their highest level since April 2024, despite G7 sanctions and repeated drone strikes on refinery infrastructure....
Canada joins EU and G7 to lower the Russian oil price cap
The Canadian government adopts a new dynamic cap of $47.60 per barrel for Russian oil, aligning its position with that of the European Union and the United Kingdom....
UK Sanctions 20 “Shadow Fleet” Tankers and Rosneft Marine
The United Kingdom tightens sanctions against Russia’s oil sector by targeting twenty tankers operating in the “shadow fleet” and Rosneft Marine, amid rising crude prices exceeding...
European Union Hesitates to Independently Lower Russian Oil Price Cap
Facing anticipated refusal from G7 countries to lower the Russian oil price cap to $45, the European Union weighs its options, leaving global oil markets awaiting the next European...
Kremlin Warns of Global Impact from New Russian Oil Price Cap
The Kremlin condemns the European proposal to lower the price cap on Russian oil to $45 per barrel, asserting that this measure could disrupt global energy markets, as the G7 prepa...
European Union pushes G7 to lower Russian oil price cap to $50
Brussels aims to persuade the G7 to reduce the Russian oil price cap to $50 per barrel, as part of negotiations on the next sanctions package targeting Moscow’s energy revenues....
The EU Targets Rosneft and 52 Russian Ships to Counter Sanctions Evasion
The European Union strengthens its sanctions against Russia by blacklisting additional ships and entities linked to Rosneft to combat evasion of the G7 price caps on Russian oil ex...
G7 Tankers Return to Russia: Opportunities Amid Price Cap
G7-linked tankers are returning to Russian routes, reaching a seven-month high as they seize opportunities presented by the weakness of Russian crude prices under the $60/barrel ca...
US and G7 Leaders Consider New Sanctions Following Iran’s Attack on Israel
The United States and G7 leaders discuss new sanctions in response to Iran’s attack on Israel. New measures targeting the Houthis in Yemen have also been announced....
United Kingdom Shuts Down Its Last Coal-Fired Power Plant, a Strategic Shift for the Energy Sector
The closure of the UK’s last coal-fired power plant marks a major shift in the country’s energy strategy, aiming for carbon neutrality by 2050. The UK thus becomes the first G7 mem...
Energy transition: JETP challenges in developing countries
JETP, a G7-backed initiative, promises to finance the energy transition of developing nations. However, financing delays and structural obstacles are holding back the achievement o...
Sovcomflot maintains its share of Russian non-G7 oil exports at 80%.
Despite Western sanctions, Sovcomflot retains a significant share of Russia’s non-G7 crude oil exports, exceeding 80% in August. New U.S. sanctions increase pressure to reduce Russ...