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.
Foreign Secretary Liz Truss will meet with officials in Washington today to discuss further support for Ukraine after both the UK and US were thanked by Ukrainian President Volodymyr Zelensky for their moves to sanction Russian oil.
The UK will cease importing Russian crude oil by the end of this year, Business and Energy Secretary Kwasi Kwarteng said, while exploring options to do the same for Russian gas supplies.
Oil and gas services firms are under increasing pressure to cut links with Russia, in a bid to ratchet up economic pressure in the wake of Russia’s invasion of Ukraine.
Greenpeace has released video of it confronting a tanker containing Russian gas which was turned away by UK dockworkers last week.
The board of Russia’s second-largest oil company, Lukoil, has called for an end to conflict in Ukraine as its shares collapse amid ongoing divestments from the Russian energy sector.
New analysis from the International Energy Agency (IEA) suggests adopting a suite of measures could enable the European Union to reduce its imports of Russian gas by more than one-third within a year.
Germany opposes a ban on imports of Russian oil, gas and coal, even as it underlines the urgency to reduce reliance on Moscow for energy supplies.
Businesses in Scotland are being urged to withdraw from trading with Russia, following its invasion of Ukraine.