Gazprom PJSC’s exports to its key foreign markets almost halved in 2022 — reaching the lowest since at least the start of the century — as flows to Europe were slashed following the invasion of Ukraine.
Prime Minister Justin Trudeau’s government is revoking the waiver that exempted Nord Stream pipeline turbines from Canadian sanctions on Russia’s oil and gas industry.
Russia’s budget surplus more than quadrupled in November despite the financial drain of the war in Ukraine, recording another month of improvement thanks largely to dividends and a windfall tax paid by Gazprom.
Russia may cut its oil production in response to the G-7 cap on the price of its crude, President Vladimir Putin said.
The UK set out how it plans to deter oil traders from cheating on a global plan to cap the price of Russian petroleum.
Lukoil is considering splitting its oil-trading unit and selling a refinery in Italy as it seeks to limit the impact of sanctions and a forthcoming European Union embargo on Russian crude.
Russia’s President Vladimir Putin said any energy infrastructure in the world is at risk after the explosions on the Nord Stream gas pipelines.
OPEC+ will consider cutting oil output by more than 1 million barrels a day, according to delegates, when it meets in person on Wednesday for the first time in more than two years.
Marathon Petroleum Corp, the largest fuelmaker in the US, is opening a small office in London, according to people familiar with the matter.
Baker Hughes (NASDAQ: BKR) has signed an agreement to sell its oilfield services business in Russia to its local management team, in the wake of ongoing sanctions.
The oil market hasn’t yet priced in the impact of European Union sanctions aimed at Russian supplies, which adds impetus to a US plan to cap the price of the country’s exports to avoid a price spike, according to a US Treasury Department official.
Russia’s shunned Nord Stream 2 gas pipeline won a legal boost in its pre-war challenge against European Union rules that subjected all new and existing pipelines involving foreign suppliers to the EU’s energy market-opening requirements, after the bloc’s top court said its appeal can be heard.
Russia has pocketed $24 billion from selling energy to China and India in just three months following its invasion of Ukraine, showing how higher global prices are limiting efforts by the US and Europe to punish President Vladimir Putin.
A “rewriting” of energy trade flows is now underway according to Wood Mackenzie analysts, as Europe's move to wean itself off exports from Russia boosts investment in energy transition and LNG, but increases supply chain risks.
The UK spent around £5 billion on imports of Russian oil, gas and coal in the year to April 2022 according to a House of Commons research briefing, as the government looks to halt supplies by the end of this year.
The European Union’s ban on seaborne imports of Russian petroleum in response to Russia’s invasion of Ukraine will lead to an 18% drop in the country’s fuel output by the end of next year.
The United States won a legal battle on Tuesday to seize a Russian-owned superyacht in Fiji and wasted no time in taking command of the $325 million (£259 million) vessel.
Millions of households across the UK could face energy rationing measures not seen since the 1970s as Europe grapples with a supply crisis.
Equinor said it has now fully exited all joint ventures in Russia, concluding a process begun in February following the country's invasion of Ukraine.
The European Union unveiled a raft of measures ranging from boosting renewables and LNG imports to lowering energy demand in its quest to cut dependence on Russian supplies.
Drilling contractor KCA Deutag has disclosed the impact of a “sophisticated attempted ransomware attack” on the company last year.
Oil extended its biggest drop in more than five weeks after the European Union softened its proposed sanctions on Russian crude exports and as economic growth concerns weighed on sentiment.
Next week will see supermajors BP and Shell publish results for one of the most turbulent quarters in recent memory, as they each look to reconcile continued bumper cash flows with the write-down of Russian investments.
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 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.