oil-and-gas
Top StoriesHalliburton’s Profit Jumps, Outlook Improves as Drilling Activity Increases
Top StoriesOil Rises as Libya Outages Add to Russia Supply Fears
Top StoriesNew EU Sanctions on Russia to Target Sberbank, Commission Head Tells Paper
InvestingOil Prices Extend Gains With Falling Supplies in Focus
Exclusive – China’s Oil Champion Prepares Western Retreat Over Sanctions Fear
Date: April 13, 2022
By Ron Bousso and Chen Aizhu LONDON/SINGAPORE (Reuters) – China’s top offshore oil and gas producer CNOOC Ltd. is preparing to exit its operations in Britain, Canada and the United States, because of concerns in Beijing the assets could become subject to Western sanctions, industry sources said. Ties between China and the West have long...
German Lawmakers Call for EU Ban on Russian Oil After Ukraine Visit
Date: April 13, 2022
BERLIN (Reuters) – The European Union should impose an embargo on Russian oil as soon as possible, the chairmen of three German parliamentarian committees said on Tuesday after a visit to Ukraine. German Foreign Affairs Committee Chairman Michael Roth said cutting Russian oil would be a very important signal because it would affect Russia’s main...
Oil Rises on OPEC Warning and Easing of Shanghai Covid Curbs
Date: April 12, 2022
By Rowena Edwards LONDON (Reuters) -Oil prices climbed on Tuesday as Shanghai’s relaxation of some COVID-19 restrictions eased concerns about Chinese demand and as OPEC warned it would be impossible to replace potential supply losses from Russia. Brent crude futures rose by $3.26, or 3.31%, to $101.74 a barrel at 1002 GMT while U.S. West...
OPEC Tells EU It’s Not Possible to Replace Potential Russian Oil Supply Loss
Date: April 11, 2022
By Kate Abnett and Alex Lawler BRUSSELS/LONDON (Reuters) -OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes, and signalled it would not pump more. European Union officials held talks in Vienna...
Exclusive – Some Banks Stop Credit for Oil Imports by Rosneft-Owned India Refiner Nayara – Sources
Date: April 11, 2022
By Nidhi Verma, Nupur Anand and Chris Thomas NEW DELHI/MUMBAI/BANGALORE (Reuters) – India’s HDFC Bank and some foreign banks have stopped offering trade credit for oil imports to Nayara Energy, a Russian-backed refiner, and some suppliers are seeking payment upfront to avoid potential problems resulting from western sanctions against Moscow, four banking and industry sources...
Oil Drops Below $100 on Reserves Release and China Lockdowns
Date: April 11, 2022
By Bozorgmehr Sharafedin LONDON (Reuters) -Oil prices dropped by $4 a barrel on Monday, with Brent crude tumbling below $100 on plans to release record volumes of crude and oil products from strategic stocks and on continuing coronavirus lockdowns in China. Brent crude for June delivery was down $4.29, or 4.2%, at $98.49 a barrel...