oil-and-gas
Top StoriesHungary Fuel Price Cap Will Lead to Shortages, Says Mol Boss
Top StoriesEurope on Edge as Nord Stream Russian Gas Link Enters Shutdown
Top StoriesExxon, Shell May Pursue Part of $1.8 Billion Nigerian award–US Appeals Court
Top StoriesOil Heads for Weekly Loss as Recession Fears Trump Tight Supply
Putin: Sanctions Risk Causing Energy Price Catastrophe for West
Date: July 8, 2022
MOSCOW (Reuters) – President Vladimir Putin said on Friday that continued sanctions against Russia could lead to catastrophic energy price rises for European households. Europe has historically relied on Russia for around 40% of its natural gas, most of it delivered through pipelines. “We know that the Europeans are trying to replace Russian energy resources,”...
UK to Examine Petrol and Diesel Market in Depth
Date: July 8, 2022
LONDON (Reuters) -Britain launched an in-depth study of the gasoline market on Friday to investigate a widening gap between crude oil and fuel prices, as well as the difference between pump prices in rural and urban areas. Forecourt prices in Britain have risen to record highs since the start of the war in Ukraine, taking...
Russia to Take Sakhalin-1 Project Under Its Control -Lawmaker
Date: July 7, 2022
MOSCOW (Reuters) -A senior Russian lawmaker said on Thursday that Moscow would take control of the Sakhalin-1 oil and gas project in which ExxonMobil, Japan’s SODECO and India’s ONGC Videsh are partners, a week after taking over the neighbouring Sakhalin-2. Pavel Zavalny, head of the energy committee in Russia’s lower house of parliament, said the...
Oil up Nearly $5 as Tight Supply Outweighs Recession Fears
Date: July 7, 2022
By Noah Browning LONDON (Reuters) -Oil prices rose steeply on Thursday after sharp losses in the previous two sessions, as investors returned their focus to tight supply even as fears of a global recession persisted. Brent crude futures were up $4.68, or 4.7%, at $105.37 a barrel by 1400 GMT. WTI crude futures climbed $5.11,...
UK Oil Sector Secures Changes to Windfall Tax, Seeks More Amid Gov’t Chaos
Date: July 7, 2022
LONDON (Reuters) – Britain’s main oil and gas sector said it had secured some changes to a planned windfall tax but is seeking further allowances from the new Finance Minister Nadhim Zahawi, with the bill set to go through parliament on Monday. Former finance minister Rishi Sunak, who resigned on Tuesday, announced an Energy Profits...
Shell Gets $1 Billion Refining Boost, Upgrades Oil and Gas Assets
Date: July 7, 2022
By Ron Bousso LONDON (Reuters) -Shell said on Thursday surging demand for oil products that had almost tripled refining profits in the second quarter would boost earnings by up to $1.2 billion. In an update before second quarter results on July 28, Shell also said it would reverse up to $4.5 billion in writedowns on...