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.
Chevron posted the highest quarterly earnings in almost a decade as soaring energy demand and Russia’s war on Ukraine strained global supplies, ratcheting up prices for everything from natural gas to diesel.
Russia’s gas giant Gazprom PJSC reported its highest-ever annual income for 2021, when natural gas prices soared during Europe’s worst energy crunch in decades.
Oil is poised to eke out a fifth monthly advance after another tumultuous period of trading that saw prices whipsawed by the fallout of Russia’s war in Ukraine and the resurgence of Covid-19 in China.
CNOOC has brushed aside recent media reports that the firm is considering withdrawing from oilfield investments in the UK North Sea, the US and Canada.
The UK Government expects Britain can stop importing Russian natural gas before the end of the year, sooner than expected, a person familiar with the matter said.
Italian energy giant Eni is preparing to open ruble accounts at Gazprombank JSC, allowing it to potentially comply with Russian demands that gas must be paid for in local currency, according to people familiar with the matter.
ExxonMobil said Wednesday that it has declared force majeure for its Sakhalin-1 operations in Far East Russia after it became too difficult to ship crude oil due to sanctions, reported Reuters.
TotalEnergies took a $4.1 billion write-down on its flagship Russian gas project and indicated that it may belatedly join its peers in pulling back from the country two months after the invasion of Ukraine.
Russia’s Gazprom PJSC said it has halted gas flows to Poland and Bulgaria and will keep the supplies turned off until the two countries agree to Moscow’s demand to pay for the crucial fuel in rubles.
Energy Voice talks to Jason Fox, Managing Partner, London, and Alastair Young, Partner, at Bracewell (UK) LLP on the future of North Sea investment as Brent crude oil remains at around $100.
China’s interest in acquiring an abandoned stake in a Russian liquefied natural gas (LNG) export project is providing further justification for Japan to continue its joint venture with Gazprom PJSC.
China’s key state-run energy companies are in talks with Shell to buy its stake in a major Russian gas export project, according to people with knowledge of the matter.
Shell started to withdraw staff from its joint ventures with Gazprom PJSC as it moves forward with plans to exit investments in Russia response to the invasion of Ukraine.
