Russia will create a firm which will take over all rights and obligations of the Sakhalin Energy Investment Company amid Western sanctions imposed on Moscow, a decree signed by President Vladimir Putin said on Thursday.The 5-page decree indicates…
Russia's former president Dmitry Medvedev said on Tuesday a reported proposal from Japan to cap the price of Russian oil at around half its current level would lead to significantly less oil on the market and could push prices above $300-$400 a barrel…
The bickering over a turbine Moscow says is to blame for a reduction of gas flows via Nord Stream 1 has put into focus the equipment the pipeline needs to operate.At the heart of the tussle lies SGT-A65, a Siemens Energy turbine that is 12 meters long and weighs 20 tonnes…
ConocoPhillips on Thursday raised its shareholder payout target by 50% after the largest U.S. independent oil producer beat Wall Street's earnings estimates on surging energy prices.Oil and gas prices have skyrocketed with Western sanctions…
Norwegian energy company Equinor has taken a step forward with its Rosebank project in the UK North Sea by submitting key environmental documents. An Environmental Impact Assessment was submitted to the UK's Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) on Thursday…
Brazil's state-controlled oil company Petrobras will distribute at least twice as much as the biggest international oil producers in second quarter dividends, boosting the government's coffers amid a tense presidential campaign.The five biggest Western oil producers - Exxon Mobil Corp…
When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas to offset shortages from Russia’s invasion of Ukraine, his pledge was greeted with skepticism.After all, the U.S…
Equinor said it will return an additional $3 billion to shareholders after reporting better-than-expected second-quarter profit on the back of soaring gas prices fuelled by the war in Ukraine. The company boosted gas supplies to Europe by 18% in the April-June period compared to a year ago…
Cenovus Energy Inc on Thursday reported a near 11-fold surge in second-quarter profit, helped by its purchase of rival Husky and rising energy prices after the Russian invasion of Ukraine.Oil prices have scaled multi-year records this year as…
Russian gas flows via the Nord Stream 1 pipeline are seen restarting on time on Thursday after the completion of scheduled maintenance, two sources familiar with the export plans told Reuters.The pipeline, which accounts for more than a third of Russian natural gas exports to the European Union…
BP's second quarter profit soared to $8.45 billion, its highest in 14 years, as strong refining margins and trading prompted it to boost its dividend and spending on new oil and gas production.The strong performance caps a blowout quarter for…
A consortium of TotalEnergies, Corio Generation and Qair has been pre-selected by the French Directorate General for Energy and Climate (DGEC) to participate in a competitive tender to develop two floating windfarms in the Mediterranean Sea…
Shell on Monday told customers it would be unable to supply liquefied natural gas (LNG) cargoes from its Prelude facility off northwestern Australia due to industrial action over a pay fight, which has been extended to July 21.Shell has stopped…
Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday that the future of the Nord Stream 1 gas pipeline to Germany would depend on gas demand in Europe and Western sanctions against Russia.The pipeline from Russia to Germany is undergoing annual maintenance until July 21…
Russia announced on Friday a decree that seizes full control of the Sakhalin-2 gas and oil project in the country's far east, a move that could force out Shell and Japanese investors and adds another bullish factor to prices in a tight global LNG market…
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