UK North Sea sees chance for political reprieve in energy crisis
Six months ago, UK North Sea oil and gas faced the bleakest outlook in its 50-year history.
Russia
Approval of Shell Jackdaw field in North Sea ‘imminent’, report claims
Approval of the Shell Jackdaw gas field in the North Sea is now “imminent”, according to a newspaper report.
Oil extends gains as investors weigh Russian ban, China outlook
Oil advanced for a third day, bookending another tumultuous week of trading as investors weigh the prospect of a European Union ban on Russian crude imports and uncertainty over China’s virus resurgence.
Russia curbs gas supplies to Germany in warning for Europe
Germany said Russia is using energy as a “weapon” after Moscow reduced natural gas supplies in retaliation for Europe’s penalties over the war in Ukraine.
Shell sells Russian fuel business to Lukoil
Shell has struck a deal to sell its retail and lubricants business in Russia to locally owned Lukoil.
India buyers grab discounted Russia LNG shunned by rest of world
India’s liquefied natural gas (LNG) importers are purchasing extra volumes from Russia at a discount as most other spot buyers shun the fuel.
Ukraine turns off Europe-bound gas from Russia
Ukraine has cited "force majeure" to potentially halt a third of Russian transited gas flows to Europe from Wednesday, while Russia’s Gazprom claims there have been no issues that would justify the move.
Indonesia’s Pertamina cancels plan to buy oil from Russia
Indonesia’s national oil and gas company Pertamina has decided to cancel an earlier plan to buy discounted crude oil from Russia as domestic fuel stocks are now deemed sufficient.
Sorry, but for you, oil trades at $250 a barrel
If you are the owner of an oil refinery, then crude is trading happily just a little above $110 a barrel — expensive, but not extortionate. If you aren’t an oil baron, I have bad news: it’s as if oil is trading somewhere between $150 and $275 a barrel.
Oil swings as traders weigh up G-7 crude ban, Saudi price cuts
Oil fluctuated as investors weighed a pledge by the Group of Seven to ban imports of Russian crude against a cut in official prices by Saudi Arabia and the impact of China’s energy-sapping lockdowns.
Japan’s Kishida says phasing out Russian oil to take time
Prime Minister Fumio Kishida said it would take time to phase out imports of Russian oil, hours after he joined other Group of Seven leaders to impose a ban on crude over the Kremlin’s invasion of Ukraine.
OPEC+ sticks to small supply hike as EU eyes Russia oil ban
OPEC and its allies once again ratified a small monthly increase in production, even as global markets look set to tighten because the European Union is considering banning supplies from Russia.
Shell weathers ‘volatile times’ to post record profits despite Russia blow
Shell (LON: SHEL) reported its best ever quarterly results on Thursday despite suffering a hefty blow over its exit from activities in Russia.
India wants Russia to discount its oil to below $70 a barrel
India is trying to get deeper discounts on Russian oil to compensate for the risk of dealing with the OPEC+ producer as other buyers turn away, according to people with knowledge of the matter.
Japan weighs financial support to boost U.S. LNG exports
Japan will consider providing financial support to boost production of liquefied natural gas (LNG) in the U.S., reported financial publication Nikkei Asia, as Tokyo aims to lower its energy dependence on Russia following Moscow's invasion of Ukraine.
Russia cut off from UK professional services
The UK Government has blocked access for Russia to Britain’s professional services exports.
EU plans ‘orderly’ Russian oil phase-out, targets Sberbank
The European Union plans to ban Russian crude oil over the next six months and refined fuels by the end of the year as part of a sixth round of sanctions to increase pressure on Vladimir Putin over his invasion of Ukraine.
Equinor suffers $1.08bn impairment on Russia exit
Equinor is to increase its share buybacks after posting “strong financial results” for the first quarterof 2022.
Legal implications of the Russian invasion of Ukraine for the oil and gas sector
Before any discussion of how the invasion of Ukraine by Russia is impacting our sector, we must first acknowledge the devastating effects on the people of Ukraine of the indiscriminate shelling of civilian targets, the war crimes being perpetrated by Russian troops and the massive displacement of the population both within and beyond Ukraine, which is something most of us have never seen in Europe in our lifetimes, as well as the enormous courage and resilience of the Ukrainian nation.
An obscure (and underestimated) oil city at the heart of the old Soviet industry…
A ministerial visit that’s long stuck in my mind was to a city called Khanty-Mansiysk far to the north in Siberia. You haven’t heard of it? Well, join a very large club to which I belonged before going there.
Chevron reaps biggest profit in almost 10 years on oil rally
Chevron posted the highest quarterly earnings in almost a decade as soaring energy demand and Russia’s war on Ukraine strained global supplies, ratcheting up prices for everything from natural gas to diesel.
Gazprom 2021 annual earnings hit record on gas price rally
Russia’s gas giant Gazprom PJSC reported its highest-ever annual income for 2021, when natural gas prices soared during Europe’s worst energy crunch in decades.
Oil heads for longest run of monthly gains since early 2018
Oil is poised to eke out a fifth monthly advance after another tumultuous period of trading that saw prices whipsawed by the fallout of Russia’s war in Ukraine and the resurgence of Covid-19 in China.
CNOOC denies plans for $3 billion UK North Sea exit
CNOOC has brushed aside recent media reports that the firm is considering withdrawing from oilfield investments in the UK North Sea, the US and Canada.
UK Government expects to stop importing Russian gas by end of year
The UK Government expects Britain can stop importing Russian natural gas before the end of the year, sooner than expected, a person familiar with the matter said.