The price cap on Russian crude oil exports is starving President Vladimir Putin’s budget of income, though it likely won’t force him to ratchet down spending for years thanks to a $45 billion buffer of yuan reserves.
As one of the world’s largest exporters of oil and gas, Russia’s inhuman invasion of Ukraine was always going to spark a chain reaction within the industry.
Without putting too fine a point on it 2022 has been a disaster for pretty much everyone who didn’t run a hedge fund, is a shareholder in an oil and gas or other energy company or works in a bank and is due a bonus.
After months of planning and negotiations, the biggest tranche of sanctions on Russian oil to date take effect on Monday. How big their impact will be remains uncertain.
A senior figure in the Ukrainian Government has urged BP (LON: BP) to severe its relationship with Rosneft (MM: ROSN), or “risk complicity with Russia’s war crimes”.
A Stuxnet-like attack could “very easily happen again”, a cybersecurity expert has warned, as tensions grow following Russia’s continued war against Ukraine.
The war in Ukraine is strengthening the role of Asia and the Middle East as the world’s main providers of fuels like diesel and gasoline that are crucial to the global economy.
Novatek noteholders have agreed to change the terms of a $1 billion Eurobond, letting the Russian company pay in rubles instead of US dollars.
Activists at COP27 have accosted Patrick Pouyanné, CEO of TotalEnergies, to demand answers about “bloody money” from the company’s Russian operations.
Russia’s Ministry of Defence has claimed that the UK's navy was behind the attacks on the Nord Stream pipelines last month.
TotalEnergies has increased its Russia impairment by another $3.056 billion over challenges in its LNG plans.
Russian attacks on Ukraine have destroyed 30% of Ukraine’s grid, President Volodymyr Zelensky has said.
The Biden administration is moving toward a release of at least another 10 million to 15 million barrels of oil from the nation’s emergency stockpile in a bid to balance markets and keep gasoline prices from climbing further, according to people familiar with the matter.
The head of the UN weather agency has said the war in Ukraine "may be seen as a blessing" from a climate perspective because it is accelerating the development of and investment in green energies over the longer term - even though fossil fuels are being used at a time of high demand now.
A secure supply of energy is something we used to take for granted. Now it’s different.
Russia will keep the key Nord Stream 1 gas pipeline to Germany shut, state-owned energy giant Gazprom said on Friday, delivering a massive blow to Europe.
Billionaire Elon Musk has told the ONS conference in Stavanger that “more oil and gas” is needed, at least in the near-term, for a sustainable future.
Japan’s Mitsubishi Corporation is set to issue a notice that it will join the new operating company for the Sakhalin-2 LNG export complex in the Russian Far East, reported Nikkei Asia.
Gas companies have stepped up to the plate in recent months to help the UK cut its dependence on imports.
Gazprom PJSC will stop delivering natural gas to Europe through its main pipeline for three days, further squeezing energy supplies just as Germany is trying to build up stocks for the winter.
European energy security faces a seemingly impossible task of meeting short-term demand with longer-term decarbonisation. Society does not have the luxury of declaring this to be impossible, though, so must take steps now to meet the challenges.
Russia’s government ordered the establishment of a new operator for the Sakhalin-2 liquefied natural gas (LNG) project in the Far East region, according to a document published in the nation’s legal database.
Germany has agreed to buy a stake in Uniper and also provide multi-billion euro in various instruments.
Baker Hughes (NASDAQ: BKR) expects an “unusual set of circumstances and challenges” for the oil market through 2023.
Marketing for sale its business in Russia and impairments on its assets in Ukraine saw Halliburton (NASDAQ: HAL) take $366m of impairments in the first half of 2022.