The price cap on Russian crude oil exports is starving President Vladimir Putinโs budget of income, though it likely wonโt force him to ratchet down spending for years thanks to a $45 billion buffer of yuan reserves.
As one of the worldโs largest exporters of oil and gas, Russiaโs 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 didnโt 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 โrisk complicity with Russiaโs war crimesโ.
A Stuxnet-like attack could โvery easily happen againโ, a cybersecurity expert has warned, as tensions grow following Russiaโs continued war against Ukraine.
The war in Ukraine is strengthening the role of Asia and the Middle East as the worldโs main providers of fuels like diesel and gasoline that are crucial to the global economy.
Activists at COP27 have accosted Patrick Pouyannรฉ, CEO of TotalEnergies, to demand answers about โbloody moneyโ from the companyโs Russian operations.
The Biden administration is moving toward a release of at least another 10 million to 15 million barrels of oil from the nationโs 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.
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 โmore oil and gasโ is needed, at least in the near-term, for a sustainable future.
Japanโs 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.
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.
Russiaโs 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 nationโs legal database.
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.