Russian Oil Company Rosneft Acquires 37.5% of German PCK Refinery
Through this acquisition, Rosneft will increase its ownership in PCK from 54.17 % to 91.67%.
News / Worldwide
Shell Compensates Petrobras with $1.12B in Atapu Payments
Petrobras (PETR4.SA) announced on Wednesday that it has received 5.26 billion reais ($1.12 billion) in compensation from Shell (SHEL.L) for the latter's 25% ownership in the Atapu oil block.
Russian Oil Supply to Plummet to Double in May
The effects of sanctions and buyer reluctance on Russian oil will be fully obvious starting in May, according to the International Energy Agency (IEA).
Chinse Crude Imports Decline by 14% on a Year-on-Year Basis in March
China, the world's largest crude oil consumer imported last month 42.71 million tonnes, or 10.06 million barrels per day, according to data released by the General Administration of Customs on Wednesday (bpd). Comparing with March 2021, 11.69 million bpd was produced, with an average of 10.53 million bpd in January and February.
OPEC Tells EU There’s No Substitute for Russia’s Oil Supply
According of a copy of Mohamed Barkino (OPEC Secretary)’s speech seen by Reuters, the current and future sanctions could cause more than 7 million barrels per day (bpd) loss of Russian oil and other liquids exports potentially.
TotalEnergies to Ramp Up Its US LNG Production Through Cameron LNG Expansion
The company stated that this expansion project includes the development of a fourth train with a production capacity of 6.75 million metric tons per annum (Mtpa), and a 5% increase of the current 13.5 Mtpa first three trains through debottlenecking. Adding that to decrease the emissions of the facility, there are enhancements will be designed.
Equinor Achieves New North Sea Oil, Gas Discovery Near Troll and Fram Area
There have been six discoveries in this area since the autumn of 2019; currently this discovery named Kveikje. A total of 300 million barrels of oil equivalent have been discovered in the five previous discoveries.
Oil Prices Dip Amid China Lockdown, Release of Reserves
On Monday, oil prices declined more than $2 per barrel for the second straight week as world consumers announced plans to release a record amount of crude oil and oil products from strategic stocks in addition to China's continued lockdowns, Reuters reported.
Gazprom’s Natural Gas Supply to Europe Continues Despite Sanctions
Gazprom announced on Saturday that it is supplying natural gas to Europe via Ukraine in response to requests from European customers.
Finland to Invest EUR 850M to End Energy Dependence on Russia
The Finnish government announced on Thursday that it would invest up to 850 million euros to ensure sufficient energy supplies and move away from reliance on Russian energy, Reuters reported.
