South African protest targets Russian seismic vessel
XR called on the government to refuse access to the “Karpinsky and all other vessels engaged in harmful exploration activities in the Antarctic region”.
Russia
Sanctions-proof yuan to Putin’s rescue after oil cap hits budget
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.
Yellen encourages Africa to take advantage of cheap Russian fuel
Treasury has estimated it could “result in around $6 billion in annual savings for the 17 largest net oil-importing African countries. We are seeing examples of emerging markets saving even more by using the price cap to negotiate steeper discounts with Russia. And we encourage more countries to do the same.”
China scoops up rare Russian oil as top buyer boosts imports
China is importing a wider variety of Russian crudes, including the lesser-known Arco grade, just as the nation doubles down on purchases.
Energy security will still have ‘major impact on oil and gas’ in 2023
As we approach the first anniversary of Russia’s invasion of Ukraine, it is a further reminder that energy security will continue to have a major impact on oil and gas markets and how nations meet their energy requirements.
Banking giant ING sees oil and gas markets tightening further in 2023
Global oil and gas supplies are on course to tighten further this year as OPEC sticks to its guns and other producers struggle to fill the gap.
Oil fluctuates after Russia bans exports to users of price cap
Oil fluctuated as investors weighed the fallout from a Russian ban on exports to buyers that adhere to a Group of Seven price cap.
Germany takes over Uniper as FSRU starts up
Germany agreed to reduce its stake in Uniper to 25% plus one share by 2028 at the latest.
Refilling UK gas stores in 2023 will be a tough ask, says top academic
European oil and gas shortages could be on course to worsen next year when sanctions against Russia properly manifest themselves.
Two killed in Russian refinery explosion
Two people have been reportedly killed and another five injured in an explosion at an eastern Russia oil refinery near the Siberian city of Irkutsk.
Ukraine’s largest private energy firm on supplies, sanctions and planning for a green future
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.
Outgoing OEUK chief Deirdre Michie on her time at the helm and ‘another extraordinary year’
As “another extraordinary year” in the energy sector comes to an end, outgoing chief executive of Offshore Energies UK (OEUK), Deirdre Michie, reflects on the last 12 months and her time at the helm of the trade body.
2022 – The year politics failed
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.
Zarubezhneft eyes giant East Natuna gas block in Indonesia
Russia’s Zarubezhneft is interested to bid for the giant East Natuna gas Block offshore Indonesia, according to upstream regulator SKK Migas, when the area is auctioned next year.
OPEC+ pauses as Russia sanctions and China covid rules roil crude markets
OPEC+ responded to surging volatility and growing market uncertainty by keeping oil production unchanged.
Europe’s New Sanctions on Russian Oil Kick In: What Changes?
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.
Russia to defend revenues in face of price cap
With just days remaining until the European Union imposes a price cap on Russian oil, much uncertainty remains.
Cyber concerns on the rise amid geopolitical tensions
A Stuxnet-like attack could “very easily happen again”, a cybersecurity expert has warned, as tensions grow following Russia’s continued war against Ukraine.
Russian upstream investments set to plunge by $15 billion as sanctions bite, says Rystad
The financial impact of Western sanctions and the wide scale exodus of foreign partners from the Russian oil and gas sector are beginning to materialise, with upstream investments set to sink to $35 billion in 2022, according to Rystad Energy research.
Norway to stand down military at onshore oil and gas assets
Norwegian armed forces are to stop guarding onshore oil and gas assets, with the threat of an attack now diminished.
Putin’s war leaves West more reliant than ever on Asian fuel
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.
Global LNG supplies are ‘sold out’ for years, top importer Japan warns
Japan warns that global competition for liquefied natural gas (LNG) is set to intensify over the next three years due to an underinvestment in supply.
Sweden confirms sabotage behind Nord Stream explosion
Swedish prosecutors have concluded that sabotage caused the Nord Stream explosions, in September.
Novatek dodges bond default through shift to ruble payments
Novatek noteholders have agreed to change the terms of a $1 billion Eurobond, letting the Russian company pay in rubles instead of US dollars.
COP27 activists pursue Pouyanne over Russia “blood money”
Activists at COP27 have accosted Patrick Pouyanné, CEO of TotalEnergies, to demand answers about “bloody money” from the company’s Russian operations.