About 650,000 barrels per day (b/d) of Russian crude oil are to be relocated from advanced economies, and the solution could be ‘crude swapping’, says Wood Mackenzie. Significantly, Russia’s key market China not shoring up large volumes yet.
The company behind the low-cost district heating scheme in Aberdeen is to terminate its contract with Russian state-owned Gazprom.
The UK has imposed sanctions on the chief executives of Russian energy giants Rosneft and Gazprom.
Crown Estate Scotland is seeking “formal assurances” that winners in the ScotWind auction adhere to sanctions being imposed on Russia.
The former deputy country chair of Shell Ukraine has hit out at TotalEnergies over its “toothless, useless and highly disappointing" position on Russia's invasion.
Oil pushed higher in Asian trading following a wild session in which prices spiked above $100 a barrel before giving up gains after Russian energy supplies were spared from sanctions.
Isles MP Alistair Carmichael said he is at a loss as to how to answer constituents wondering why a Russian state-owned oil tanker is allowed to load at Shetland on the same day Russia has invaded Ukraine.
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.
The US has announced sanctions on a number of Angolan officials, including Isabel dos Santos, the former head of Sonangol and daughter of former president José Eduardo dos Santos.
The chief executive of the OGA has said he is frustrated by companies “mucking around in commercial disputes” while a climate emergency is ongoing.
The US government has sanctioned an Omani businessman for his participation in oil smuggling for Iran, with the proceeds going to destabilise the region.
The Oil and Gas Authority (OGA) has launched its third sanctions investigation on North Sea companies of this year.
Energy giant BP has been fined £50,000 by the Oil and Gas Authority (OGA) over a North Sea licence breach.
Alfa Laval has settled a complaint from the US about exporting storage tank cleaning units to Iran.
A United Nations (UN) human rights investigator has urged countries to impose economic sanctions on Myanmar’s oil and gas sector to cripple the military junta that seized power in a coup five months ago, reported Reuters.
The expected return of Iranian oil to the market as US sanctions are likely to be lifted over the next year will offer new opportunities for former buyers in Asia to reshuffle their oil import mixes. Significantly, the return of Iranian barrels will trigger a fierce battle among global suppliers for market share raising the risk of price drops, reported Fitch Solutions.
Fitch Solutions believes that the Myanmar military government’s solar project push, the first attempt at stimulating foreign investment since the coup, will not succeed and will do little to turn the gloomy economic situation around.
The Oil and Gas Authority (OGA) has opened an investigation and is threatening sanctions over a commercial dispute which saw North Sea firms failing to collaborate.
Indonesia released on Friday an Iranian-flagged ship it had seized four months ago over suspected illegal transfer of crude oil, an Indonesian official and Iranian state media said on Saturday.
Total and Chevron will suspend cash distribution by a joint venture that counts a Myanmar state-owned company as a shareholder.
There is a high risk that political turmoil in Myanmar will negatively affect the energy sector, however, Chinese companies look set to benefit from the tumultuous environment, according to Fitch Solutions Country Risk & Industry Research.
CNOOC, China’s third-biggest oil company, aims to raise its capital spending this year to between 90 billion and 100 billion yuan ($15 billion), the highest level since 2014, bucking the industry trend.
Chinese oil majors may be next in line for delisting in the US after the New York Stock Exchange said last week it would remove the Asian nation’s three biggest telecom companies.
President Recep Tayyip Erdogan has called for negotiations over gas exploration rights for Turkey in the eastern Mediterranean as EU leaders consider sanctions.
The Pentagon added CNOOC among four more Chinese companies to a list of firms it says are owned or controlled by China’s military, exposing them to increased scrutiny and potential sanctions by the US.