Oil traded near $107 a barrel in New York as investors monitored developments from the gathering of Group of Seven leaders, and two supplier countries flagged potential output cuts due to political unrest.
A drone strike caused a fire at a refinery in south-west Russia near the border with Ukraine - but no one was hurt and the blaze was contained quickly, officials said.
Ukraine has launched missiles against three gas rigs in the Black Sea, according to Russian officials, south of Odessa.
Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of Urals crude have picked up by 658% compared to 2021 levels, while for China the increase is 205% and for Asia as a whole 347%, Rystad Energy research shows.
The boss of Aberdeen-headquartered Plexus Holdings (LON: POS) is forecasting a “significant resurgence” in North Sea activity.
Russia stepped up the use of energy as a weapon by further cutting natural gas shipments via its biggest pipeline to Europe, prompting Germany to accuse the Kremlin of trying to drive up prices.
Russia is earning less from its oil exports, even as seaborne crude shipments surge to a six-week high. That’s because of the big discounts that Moscow is having to offer Asian buyers to snap up barrels shunned by Europe, which translate into a drop in export duties.
European Union leaders agreed to pursue a partial ban on Russian oil, paving the way for a sixth package of sanctions to punish Russia and its president, Vladimir Putin, for the invasion of Ukraine.
Recent months have underlined that energy security "still trumps" sustainability in the minds of politicians, the head of a trade body has claimed.
Pipeline specialist STATS Group plans to boost its international footprint following an “excellent” 2021.
Oil advanced for a third day, bookending another tumultuous week of trading as investors weigh the prospect of a European Union ban on Russian crude imports and uncertainty over China’s virus resurgence.
Germany said Russia is using energy as a “weapon” after Moscow reduced natural gas supplies in retaliation for Europe’s penalties over the war in Ukraine.
Ukraine has cited "force majeure" to potentially halt a third of Russian transited gas flows to Europe from Wednesday, while Russia’s Gazprom claims there have been no issues that would justify the move.
If you are the owner of an oil refinery, then crude is trading happily just a little above $110 a barrel — expensive, but not extortionate. If you aren’t an oil baron, I have bad news: it’s as if oil is trading somewhere between $150 and $275 a barrel.
A leader from the Ukraine energy sector will deliver an address at a major North Sea industry conference in Aberdeen this month.
Oil fluctuated as investors weighed a pledge by the Group of Seven to ban imports of Russian crude against a cut in official prices by Saudi Arabia and the impact of China’s energy-sapping lockdowns.
Industry survey spotlights growing friction between energy security, affordability and sustainability
The results of a major survey showcasing the attitudes of energy industry leaders from across the globe have been released.
Shell (LON: SHEL) reported its best ever quarterly results on Thursday despite suffering a hefty blow over its exit from activities in Russia.
India is trying to get deeper discounts on Russian oil to compensate for the risk of dealing with the OPEC+ producer as other buyers turn away, according to people with knowledge of the matter.
Japan will consider providing financial support to boost production of liquefied natural gas (LNG) in the U.S., reported financial publication Nikkei Asia, as Tokyo aims to lower its energy dependence on Russia following Moscow's invasion of Ukraine.
The UK Government has blocked access for Russia to Britain’s professional services exports.
Equinor is to increase its share buybacks after posting “strong financial results” for the first quarterof 2022.
Before any discussion of how the invasion of Ukraine by Russia is impacting our sector, we must first acknowledge the devastating effects on the people of Ukraine of the indiscriminate shelling of civilian targets, the war crimes being perpetrated by Russian troops and the massive displacement of the population both within and beyond Ukraine, which is something most of us have never seen in Europe in our lifetimes, as well as the enormous courage and resilience of the Ukrainian nation.
A ministerial visit that’s long stuck in my mind was to a city called Khanty-Mansiysk far to the north in Siberia. You haven’t heard of it? Well, join a very large club to which I belonged before going there.
UK Prime Minister Boris Johnson will meet with key oil and gas producers to discuss the industry’s role in shoring up the country’s supplies, following up on a new energy security strategy announced by the government earlier this month.