oil-and-gas
Top StoriesKremlin: Nord Stream 1 Turbine Not Arrived Yet, a Second Has Defects
Top StoriesRussia’s Rosneft Starts Construction of Huge Arctic Oil Terminal
Top StoriesOil Rises for a Second Day on Supply Tightness Concerns
Top StoriesOil Prices Tick up on Supply Concerns After Price Cap on Russian Oil
Analysis: Ukraine War Rekindles Europe’s Demand for African Oil and Gas
Date: July 22, 2022
By Noah Browning, Ron Bousso and Wendell Roelf BRUSSELS/LONDON/CAPE TOWN (Reuters) – Europe’s thirst for oil and gas to replace sanctioned Russian supply is reviving interest in African energy projects that were shunned due to costs and climate change concerns, industry executives and African officials said. Energy firms are considering projects worth a total of...
Oil Prices Rise as Tight Supply, Geopolitical Tensions Linger
Date: July 22, 2022
By Jeslyn Lerh and Sonali Paul SINGAPORE (Reuters) -Oil prices climbed in Asia trading on Friday, rebounding from previous declines amid supply tightness and geopolitical tensions, even though weakened demand in the United States has cast a shadow on the market this week. Brent crude futures rose $1.61, or 1.6%, to $105.47 a barrel by...
Big Oil Set to Open Cash Taps With Another Record Quarter
Date: July 21, 2022
By Ron Bousso and Sabrina Valle LONDON/HOUSTON (Reuters) – Top Western energy companies are expected to unleash billions in returns to shareholders when they announce what is set be a second-straight quarter of record-breaking profits, lifted by stellar refining margins and high oil and gas prices. A rapid recovery in demand following the end of...
Shell Pay Battle Escalates at Prelude Lng Off Australia
Date: July 20, 2022
By Sonali Paul MELBOURNE (Reuters) -Shell Plc on Wednesday told workers at its Prelude floating liquefied natural gas (FLNG) facility it would stop paying them as of Monday after they extended industrial action for two more weeks over a long-running wage dispute. Shell last week began shutting down the 3.6 million tonne a year site...
Russia Considers Budget Rule to Build up Reserves, Cap Rouble Strength
Date: July 19, 2022
MOSCOW (Reuters) -Russia may reinstate the budget rule that diverts excess oil revenues into its rainy-day fund, setting a new cut-off oil price of $60 per barrel, a source close to the Kremlin said on Tuesday, confirming an earlier report. The rule was fully suspended after harsh Western sanctions imposed after Moscow started what it...
Russia to Introduce New Budget Rule of $60 per Barrel of Oil – Vedomosti
Date: July 19, 2022
MOSCOW (Reuters) – Russia’s finance ministry is proposing to raise the cut-off oil price for its fiscal rule – the level at which Moscow starts buying foreign currency with profits on energy sales – to $60 a barrel, the Vedomosti daily reported on Tuesday. Under the mechanism, Russia buys foreign currency with its booming energy...