News
October 03, 2022
Hungary is one of the EU nations most reliant on Russia for energy, and has seen the cost of oil and gas imports soar to an estimated $19 billion this year from $4 billion in 2019, according to government data.
Article
September 2022
Drilling should pick up steam this year, gaining more than 18%, as nearly all regions will see activity increase. Development should thrive, as the world looks for additional sources of crude oil and natural gas.
News
September 20, 2022
A bipartisan pair of senators is pressing the Biden administration to use secondary sanctions to enforce a cap on the price of Russian oil.
News
September 16, 2022
Russia could find new markets for about half of the crude exports that will be banned by the European Union from December, according to energy-data firm Kpler.
News
September 01, 2022
Lukoil was the only Russian oil producer to call for a “fast resolution of the military conflict” in Ukraine early March, just after Moscow’s invasion of its neighbor entered its second week. Vagit Alekperov, the company’s founder, chief executive officer and also a major shareholder, announced his resignation in April after being targeted by international sanctions.
News
August 30, 2022
Exxon Mobil Corp. took the first step toward filing a lawsuit against Russia after Vladimir Putin blocked the oil major from exiting its only remaining operation in the country.
News
August 17, 2022
U.S. crude exports rose to a record as European refiners rushed to stock up supplies ahead of a ban on Russian imports.
News
August 15, 2022
Russia defied expectations of a collapse in oil production following its invasion of Ukraine. But Moscow will have to redouble its efforts to find new buyers if it’s to keep output from shrinking in the coming months.
News
August 15, 2022
Offshore Energies UK has urged government to prioritize the domestic production of energy after a House of Commons briefing showed that in June 2022, the UK imported no oil, gas or coal imports from Russia.
News
August 03, 2022
Russia appears to have found a new means of getting its oil to market with Western sanctions looming for Moscow.
News
August 01, 2022
Baker Hughes agreed to sell its Oilfield Services business in Russia to its local management team, and the business will operate independently going forward, the company announced.
News
July 28, 2022
Aquaterra Energy has been awarded a high-pressure high temperature subsea riser contract with oil and gas operator, Umid Babek Operating Company (UBOC), for the exploration of its HP well on the Babek project in Azerbaijan.
News
July 28, 2022
Block Energy plc, an exploration and production company focused on Georgia, announced the commencement of Project II of its three-project strategy, which will re-develop the Patardzeuli Middle Eocene reservoir.
News
July 25, 2022
The nation’s shipments to buyers have declined for five consecutive weeks, taking them down by 480,000 barrels a day, or 13%, since mid-June. That's based on a rolling four-week average that helps to provide a better picture of the trend than the observation of flows from one week to the next.
News
July 22, 2022
Oil tankers that previously carried Iranian oil are switching to haul Russian crude, according to shipping analytics company Vortexa.
News
July 22, 2022
Russia’s President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed continued cooperation within OPEC+ in a phone call, according to a statement from the Kremlin.
News
July 07, 2022
The U.S. and its allies have discussed trying to cap the price on Russian oil between $40 and about $60 a barrel, according to people familiar with the matter.
News
June 24, 2022
Russia’s invasion of Ukraine has dominated headlines in terms of being a humanitarian crisis in Eastern Europe, which it is, first and foremost. It also continues to have sweeping implications for the global energy industry, the global economy, and everyone on the planet.
News
June 22, 2022
Veteran commodities trader Pierre Andurand said it’s “hard to think of a downside” to a proposed oil price-cap on Russian crude that’s been floated by U.S. Treasury Secretary Janet Yellen.
Article
June 2022
The invasion of Ukraine in February has burdened Russia’s exploration and production industry with a second round of constraints that have deep and far-ranging consequences.
News
June 20, 2022
Russia’s Rosneft PJSC is proceeding with its flagship Vostok Oil project in the Arctic, Chief Executive Officer Igor Sechin said, just over a week after a key partner announced it’s exiting the development over the invasion of Ukraine.
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