Russian officials have revealed that two oil refineries located approximately 40-50 miles (65-80 km) east of Russia’s largest oil export terminals were targeted by drone attacks, according a Reuters report. According to the report, One of the refineries, Afipsky, has experienced a fire because of the attack, but the other refinery, Ilsky, sustained no damage. […]
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Russia targets Ukraine’s energy infrastructure in series of missile attacks
“They want panic and chaos, they want to destroy our energy system. They are hopeless,” Ukrainian President Volodymyr Zelensky said
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Russia to demand roubles for payment of gas exports to “unfriendly countries”
The announcement was made during a government meeting chaired by Russian President Vladimir Putin
Russia will now demand that payments for Russian gas supplies that head to “unfriendly countries” must be settled in roubles, President Vladimir Putin announced during a government meeting, Interfax, a Russian news agency, reported Wednesday. Putin called for the Russian central bank and government to determine within one week “the order of operations for the […]
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Oil price could reach $240 this year if sanctions on Russia supply continue: Rystad
This is the largest energy crisis in decades and the impact on the world’s most important commodity is going to be unprecedented, says Rystad Energy’s head of oil Bjørnar Tonhaugen
On Tuesday, the United States imposed a ban on Russian oil exports in its latest effort to intensify sanctions on Russia. In a bid to counter Russia’s invasion of Ukraine, Western nations have pursued a strategy of sanctions to isolate Moscow. Rystad Energy’s Head of Oil Markets Bjørnar Tonhaugen said that prices will skyrocket if […]
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Oil prices likely to go higher as IOCs quit Russia: Experts
International oil majors have been exiting investments in Russia following the country’s invasion of Ukraine
Oil giants have been exiting their investments in Russia after the country initiated military action in Ukraine. The conflict has caused oil prices to soar as fears have increased regarding supply shortages. The exit from international oil firms is likely to cause prices to continue to rise, experts said. “Oil giants are mostly falling in […]
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bp to exit 19.75% shareholding of Rosneft amid Russia-Ukraine crisis
Both of bp’s nominated directors will resign from Rosneft’s board with immediate effect
UK energy giant bp announced Sunday that it would be exiting from its 19.75 percent shareholding in Rosneft following Russia’s military action in Ukraine. bp CEO Bernard Looney and bp group chief executive Bob Dudley will both also be resigning from the board of Rosneft with immediate effect. Russia’s action in Ukraine has “led the […]
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Oil price on course for best January in 30 years as Ukrainian tension mounts
The price for Brent crude futures rose over $90 last week for the first time in years
Oil prices have continued to soar as signs of extended global demand growth have continued while tensions in Ukraine sprout fears of an energy flow upset. The price for Brent crude futures rose over $90 last week for the first time in years. The price has risen as fears increased over a Russian invasion of […]
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Crimea nationalises oil and gas assets
3 Crimea based companies are affected by new resolution.