Putin’s state oil champion suffers biggest production drop
The state-run oil champion led by a close ally of President Vladimir Putin has seen the largest drop in production since the invasion of Ukraine.
Rosneft
BP reports underlying profits of £4.9bn despite impact of Rosneft exit
“Exceptional” oil and gas trading meant BP (LON:BP) raked in healthy profits in the first three months of 2022.
German minister says full embargo on Russian oil ‘manageable’
Economy Minister Robert Habeck said Germany has already cut its reliance on Russian oil enough to make a full embargo “manageable,” potentially laying the groundwork for a continent-wide ban that would upend the global trade in petroleum.
Russia’s Lukoil CEO Alekperov resigns after being sanctioned
Russia’s second-largest oil producer Lukoil PJSC said Chief Executive Officer Vagit Alekperov will resign, in the latest sign of growing pressure on the nation’s energy industry since the invasion of Ukraine.
Mozambique pre-qualifies 12 companies for 6th bid round
Instituto Nacional de Petroleo (INP) has approved 12 of the 13 companies for pre-qualification in its sixth licence round.
BP courts Chinese and Indian energy majors in bid to offload Russia assets
BP has reached out to state-backed firms in Asia and the Middle East as it searches for a way to offload its Russian assets.
Mozambique names sixth bid round competitors
Mozambique has closed the pre-qualification section of its sixth bidding round with 13 companies submitting documents.
UK delivers sanctions hit on CEOs of Rosneft and Gazprom
The UK has imposed sanctions on the chief executives of Russian energy giants Rosneft and Gazprom.
France seizes head of Rosneft’s yacht
French customs agents have seized the Amore Vero yacht, belonging to Rosneft CEO Igor Sechin.
Trafigura, Glencore review Rosneft holdings
Trafigura is “reviewing” its shareholding in Vostok Oil, while Glencore is also considering its stakes in En+ and Rosneft, in response to the war in Ukraine.
China among the leading contenders to snap up BP’s stake in oil company Rosneft
There is general consensus amongst analysts that oil giant BP will face an uphill struggle to find a buyer for its stake in Rosneft.
TotalEnergies pulls capital for ‘new projects’ in Russia
TotalEnergies has said it condemns Russia for its “military aggression against Ukraine” and will not provide capital for new projects in Russia.
Big oil walks away after decades in Russia
First BP, then Shell. In just two days, Britain’s twin energy giants have dumped Russian investments nurtured over decades and shut themselves out of the world’s largest energy exporter, probably forever.
Abrdn faces challenges in sale of Rosneft stake
Asset management group Abrdn has been unable to sell its minor stake in Russian state-backed oil and gas giant Rosneft.
Updated: Eyes on TotalEnergies as Shell confirms Russian exit
Energy majors continue to offload interests in Russia, with a series of divestment announcements by the likes of Shell, BP and Equinor.
Equinor follows BP in exiting ‘untenable’ Russia joint ventures
Norwegian oil giant Equinor has followed BP in announcing that it will start exiting its joint venture businesses in Russia.
Updated: BP faces ‘eye-watering’ $25 billion hit over exit from Russia oil firm Rosneft
BP is facing a financial hit of up to $25 billion over its exit from Russia state-owned oil firm Rosneft.
BP boss summoned by UK business secretary over Rosneft ties
BP is under pressure from the Government to cut its ties with Russian oil giant Rosneft, which the British-based company holds a 20% stake in.
Ukraine crisis unlikely to have a ‘material impact’ on BP or TotalEnergies
Researchers don’t expect the ongoing conflict between Russia and Ukraine to dent the flow of cash to BP (LON: BP) or TotalEnergies (PAR: TTE).
BP and other North Sea players keeping tabs on UK sanctions against Russia
BP, Wintershall DEA and IOG are among the North Sea firms which are monitoring UK Government sanctions against Russia, and could be impacted as tensions escalate.
BP’s Russia risk rises again as Ukraine crisis simmers
Of all the international oil majors, BP potentially has the most to lose if the situation in Ukraine triggers a crisis between Russia and the West.
BP and Rosneft only oil explorers to deliver 1billion+ barrels in 2021
BP and Rosneft were the only companies to deliver more than a billion net barrels of oil equivalent through exploration last year, according to new research.
Rosneft sees oil edging to $120 as OPEC+ supply hike lags demand
Global oil prices may rise to as high as $120 by the middle of next year as the ability of OPEC+ to meet demand is at risk from under-investments and sanctions, according to a Rosneft PJSC executive.
ExxonMobil and Rosneft team up on carbon management
ExxonMobil (NYSE:XOM) and Rosneft (MCX:ROSN) have signed a memorandum of understanding to cooperate on the assessment of lower-carbon technologies to reduce greenhouse gas emissions from their operations.
Equinor and Rosneft partner up to develop low carbon solutions
Norwegian energy giant Equinor has partnered up with Moscow-headquartered Rosneft to develop low carbon solutions.