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.
Six months ago, UK North Sea oil and gas faced the bleakest outlook in its 50-year history.
Approval of the Shell Jackdaw gas field in the North Sea is now “imminent”, according to a newspaper report.
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.
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 has struck a deal to sell its retail and lubricants business in Russia to locally owned Lukoil.
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 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 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.
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 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.
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 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 (LON: SHEL) reported its best ever quarterly results on Thursday despite suffering a hefty blow over its exit from activities in Russia.
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 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.
The UK Government has blocked access for Russia to Britain’s professional services exports.
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 is to increase its share buybacks after posting “strong financial results” for the first quarterof 2022.
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.
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 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.
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 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 has brushed aside recent media reports that the firm is considering withdrawing from oilfield investments in the UK North Sea, the US and Canada.
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.