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Technical Issues Blamed for Ufa Refinery Fire

A fire that burned for hours overnight at the Ufimsky oil refinery in Russia's city of Ufa was sparked by technical issues, authorities said. The Bashneft-owned refinery has capacity of 168,000 barrels per day and is a major source of oil supply for surrounding regions. The fire was finally put out with the help of about 100 firefighters.

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Russian Authorities Quell Fires at Southern Oil Pipeline Δ1.78

Russian authorities have put out fires at an oil pipeline in the southern region of Rostov sparked by a Ukrainian drone attack, a regional official said on Tuesday, with no injuries. Apart from the fires, the overnight drone attacks on industrial sites led to no other reports of damage, Yuri Slyusar, the region's acting governor, said, without identifying the damaged pipeline. Fortunately, no one was hurt, and workers had been evacuated from various sites in the area, just over the Ukraine border.

Kirishi Refinery Hit by Debris in Ukrainian Drone Attack Δ1.78

The Kirishi oil refinery, one of Russia's top two refineries, suffered damage to a tank due to falling debris during a major Ukrainian drone attack, according to Governor Alexander Drozdenko. The refinery, which produces 2.3 million tons of gasoline and other petroleum products, has been hit by over 31 Ukrainian drones in recent days. No one was injured in the incident.

Kazakhstan Boosts Oil Output to Record High Δ1.74

Kazakhstan raised crude oil and gas condensate production in February to a record high of 2.12 million barrels per day, exceeding its quota within the OPEC+ group of oil producers. This surge follows previous months of output increases, despite efforts to cut production under the Organisation of the Petroleum Exporting Countries' deal. The country's energy ministry has not commented on the latest production figures.

Kazakhstan Boosts Oil Output to Record High Amid OPEC+ Deal Δ1.73

Kazakhstan raised crude oil production in February by 13% from January, exceeding its quota for the second month in a row, to a record high of 2.12 million barrels per day, according to a source familiar with official statistics. The country's persistence in exceeding output quotas has sparked concerns about its compliance with the production-curbing deal struck by OPEC+ nations. Despite this, Kazakhstan is boosting oil production at its Chevron-led Tengiz oilfield, where production increased last month due to maintenance and expansion work.

Drone Strikes Apartment Building in Ukraine's Kharkiv, Injures Seven, Mayor Says Δ1.72

A Russian drone struck a multi-storey apartment building late on Sunday in Ukraine's second largest city, Kharkiv, triggering a fire and injuring eight people, the city's mayor said. The incident is the latest in a series of air attacks on residential areas in Kharkiv, which has resisted capture since the start of Russia's invasion of Ukraine in February 2022. The attack on the apartment building damaged three other nearby buildings and shattered over 100 windows.

Oil Posts Weekly Loss Amid Supply Boost, Tariff Uncertainty Δ1.72

Oil prices posted a weekly loss amid efforts to end the war in Ukraine and tariff uncertainty. The Organization of Petroleum Exporting Countries' decision to increase production in April has raised concerns about a potential supply boost, while US tariffs on Russia's trading partners have sparked fears of a trade war. Despite President Trump's threat of further sanctions against Russia, oil prices remained below $70 per barrel at the end of the week.

Russian Attacks Overnight Kill One, Injure Three in Ukraine Δ1.72

Russian shelling overnight killed one person and injured two more in the eastern Ukrainian city of Kramatorsk, and Russian forces attacked Ukraine with 79 drones, according to Ukraine's authorities. Kramatorsk was subjected to hostile shelling - residential district, where a boy born in 2006 was killed. Ukraine's air defence units destroyed 63 of the 79 Russian drones that attacked overnight in several Ukrainian regions.

Russian Drone Strike Hits Medical Facility, Other Targets in Kharkiv, Mayor Says Δ1.72

A Russian drone strike hit a medical facility and other targets late on Friday in Ukraine's second-largest city, Kharkiv, injuring at least five people, local officials said. Regional governor Oleh Syniehubov reported that eight Russian drones had struck civilian areas in three central districts of the city, with dozens of buildings damaged and fires triggered by the strike. The attack also injured an additional two people in a separate drone strike in the Black Sea port of Odesa.

Major Maritime Incident Ends in Devastating Consequences Δ1.71

A huge fire has broken out after an oil tanker and a cargo ship collided off the northeastern coast of England on Monday. Authorities have mounted an emergency response involving aircraft, lifeboats, and nearby vessels with fire-fighting capability to combat the blaze. The incident has raised concerns about maritime safety and the risks associated with global shipping.

Fire at Nuclear Power Plant in Southern Taiwan Put Out, No Safety Concern, Power Company Says Δ1.71

A fire that broke out at a nuclear power plant in southern Taiwan was put out and posed no safety concern, the Taiwan Power Company said on Thursday. The company stated that the fire at the Maanshan nuclear power plant was 50 meters away from nuclear power equipment and did not affect electricity generation. The incident occurred during routine maintenance activities.

Us Oil and Gas Production Hit Record High in December Δ1.70

U.S. crude oil and natural gas output set records in December, with crude oil production reaching 13.491 million barrels per day (bpd) and gross natural gas production at a record 118.5 billion cubic feet per day (bcfd). The increase in production was driven by higher output from the Federal Offshore Gulf of Mexico region and Texas, which saw significant gains despite some regional constraints. This surge in output has implications for the global energy market and could impact prices.

BP and Mauritania Say Leak Detected at Gas Project Off West Africa Δ1.70

A gas leak has been detected at a well of the BP-operated Greater Tortue Ahmeyim gas project offshore Senegal and Mauritania, with environmental concerns being closely monitored by both BP and Mauritania's environment ministry. The incident is expected to have negligible environmental impact, but it may raise questions about the safety and reliability of the facility. An investigation into the leak has been initiated, with a plan in place to stop the bubbles and repair the damage.

Russian Missile Attack on Ukrainian Hotel Leaves Trail of Destruction and Devastation Δ1.70

A Russian missile attack on a hotel in Ukraine's central city of Kryvyi Rih has left two people dead and 29 injured, many seriously hurt. Emergency personnel worked through the night to rescue those trapped under rubble, with 14 people rescued from the debris. The hotel suffered heavy damage, with smoke billowing from the top floor and virtually all its windows blown out.

Russia Says Repelled Ukrainian Drone Attack on Turkstream Pipeline Compressor Station Δ1.70

Russian air defences on Saturday repelled an attack by three Ukrainian drones on a compressor station that is part of the Turkstream pipeline system taking Russian gas to Europe, allowing operations to return to normal. The compressor station, known as Russkaya, was targeted by the drones in southern Russia's Krasnodar region, but all were shot down at a safe distance. The attack highlights ongoing tensions between Russia and Ukraine over energy infrastructure.

Russia Exceeds Sanctions with Diesel Shipment to Syria Δ1.70

The latest shipment of diesel from Russia to Syria via a tanker under U.S. sanctions marks the first direct supply to the Middle Eastern country in over a decade, highlighting the complex web of international relations and sanctions in place. The delivery is set to bolster Russia's military presence in Syria, where it has two main installations that are under threat following the sudden fall of Bashar al-Assad last year. As U.S. sanctions on Russia aim to limit revenues from its oil and gas industry, this shipment raises questions about the effectiveness of these measures.

Oil Little Changed as Uncertainty over Ukraine, Global Growth Looms Δ1.69

Oil edged up on Monday as upbeat manufacturing data from China, the world's biggest crude importer, led to renewed optimism for fuel demand, although uncertainty about a Ukraine peace deal and global economic growth from potential U.S. tariffs loomed. Brent crude climbed 19 cents, or 0.3%, to $73.00 a barrel by 0720 GMT while U.S. West Texas Intermediate crude was at $69.95 a barrel, up 19 cents, or 0.3%. China's manufacturing activity expanded at the fastest pace in three months in February as new orders and higher purchase volumes led to a solid rise in production.

Oil Prices Plunge Amid Trade War Worries and Excess Supply Concerns Δ1.69

Oil futures have plummeted to multi-year lows amid growing concerns about a trade war's impact on economic growth and excess oil supply entering the market. The decrease in oil prices has dragged energy stocks down, with the S&P 500 Energy Select ETF falling more than 1% year-to-date. As tensions between the US and its trading partners escalate, oil markets are under pressure to break below their two-year range.

Russia Sees Tech Boom Amid Sanctions — Microelectronics Industry Sees Massive Hiring Surge and Increase Δ1.69

Despite sanctions, Russian electronics and computer hardware manufacturers expanded their workforce in 2024 by an average of 13%, reports Vedomosti. Engineers were the most sought-after professionals, which indicates that companies in the country are adapting to sanctions and developing various workaround ways to keep Russia's economy (and the war machine) going. Perhaps more importantly, Russia's Mikron, the leading chipmaker in the country, is hiring R&D personnel, which may lead to breakthroughs.

Oil Little Changed as Uncertainty over Ukraine, Global Growth Looms Δ1.69

Oil edged up on Monday as upbeat manufacturing data from China, the world's biggest crude importer, led to renewed optimism for fuel demand, although uncertainty about a Ukraine peace deal and global economic growth from potential U.S. tariffs loomed. Brent crude climbed 19 cents, or 0.3%, to $73.00 a barrel by 0720 GMT while U.S. West Texas Intermediate crude was at $69.95 a barrel, up 19 cents, or 0.3%. China's manufacturing activity expanded at the fastest pace in three months in February as new orders and higher purchase volumes led to a solid rise in production.

Norway Stands Firm on Fuel Supplies Amid US Navy Boycott Δ1.68

Norway has reaffirmed its commitment to supplying fuel for U.S. Navy ships, despite a call from a private marine fuel supplier to stop doing so in response to concerns over Ukrainian President Volodymyr Zelenskiy's treatment at the White House. The country's defense minister stated that American forces will continue to receive the supply and support they require from Norway, underscoring the close ties between the two nations. This decision sets a significant precedent for NATO member states in their relations with the United States.

Oil Up, But Off Highs as Trump Warns New Russia Sanctions Possible Δ1.68

Oil prices experienced a rise on Friday but settled lower from earlier session highs following U.S. President Donald Trump's warning of potential sanctions on Russia related to the ongoing conflict in Ukraine. Brent crude futures closed at $70.36 a barrel, while West Texas Intermediate futures finished at $67.04, both reflecting a significant decline over the week, primarily due to trade war risks and an anticipated increase in OPEC+ supply. The market remains volatile as traders navigate geopolitical tensions alongside domestic economic indicators that signal uncertainty in the oil sector.

Russian Oil Flow to China Rebounds Amid Sanctions Δ1.68

China's imports of Russian Far East crude and Iranian oil are set to rebound in March as non-sanctioned tankers, drawn by lucrative payoffs, joined the trade replacing vessels under U.S. embargo, traders said. The rebound of sanctioned oil shipments to China is easing supply worries that had boosted global oil prices, they said. Washington's sanctions have disrupted trade with major importers China and India, but new shipping routes and terminals are facilitating access for Russian and Iranian oil.

Fedex Plane Engine Fire, Emergency Landing to Be Investigated by Faa and Ntsb Δ1.68

The Federal Aviation Administration and National Transportation Safety Board are investigating an emergency landing of a FedEx Boeing 767 cargo plane that caught fire after striking a bird while departing Newark Airport, New Jersey. The plane, Flight 3609, made a safe landing nine minutes later with one engine on fire. The incident highlights the risks associated with bird strikes, which can have serious consequences for aircraft safety.

Germany Not in Talks Over Nord Stream 2 Gas Pipeline Revival. Δ1.68

Germany has reaffirmed its commitment to energy independence from Russia and is not engaged in discussions regarding the revival of the Nord Stream 2 gas pipeline, which remains partially damaged. The German Economy Ministry emphasized the strategic importance of diversifying energy sources, particularly after the upheavals caused by the Ukraine conflict, with Norway now serving as the primary gas supplier. Estonia and other Baltic nations have echoed this sentiment, advocating for a definitive end to reliance on Russian energy infrastructure.