Gazprom Cuts Off Gas Supply to Poland, Bulgaria
In response to sanctions imposed by the West for the invasion of Ukraine, Russia's Gazprom halted gas supplies to Poland and Bulgaria after they failed to pay in roubles, Reuters reported.
News / International
TotalEnergies to Ship UAE’s Oil to Europe
CSSSA shipping unit which affiliated to France's TotalEnergies has provisionally contracted with a suezmax tanker to load Abu Dhabi crude in early May for Europe.
UOG’s CFO Steps Down
David Quirke, United Oil & Gas' Chief Financial Officer (CFO) announced that he is stepping down from his positions in the company as CFO and Executive Director.
Equinor Releases Its First Energy Transition Plan
The plan includes an overview of the company's path towards its 2050 net zero goals through short-term activities and medium-term ambitions.
CNOOC Stocks Climb 44% in Shanghai Debut
The oil giant's stock started trade at 20% more than its offering price. However, the Shanghai Stock Exchange started a 30-minute trading suspension almost immediately when the stock price hit the daily allowable band upper limit for new main-board listings.
Libya Announces Forced Closure of Brega Oil Port
The National Oil Corporation (NOC) of Libya announced that the fourth wave of closure which affects stating the force majeure on the oil port of Brega.
Russian Crude Oil Exports Decline by 25% in a Week
This comes as crude oil shipments to Asia from the ports on the Arctic, Baltic, and Black Sea coasts declined to its lowest levels in two months.
China’s Crude Oil Imports From Saudi Arabia Drop by 13% in March
China imported around 13% less crude oil from Saudi Arabia in March 2022, compared to a year earlier, while its imports from Russia dropped by 14%.
Russia to Expand Oil Storage, Exporting Outlets
Russia plans to establish several oil storage facilities and a number of new exporting outlets, in a move to help offset sanctions hampering the country’s oil sales, officials told Reuters.
Iraq Shows Support for OPEC’s Decision to Increase Oil Production
The Iraqi Ministry of Oil confirmed it commitment to the decision of the Organization of the Petroleum Exporting Countries (OPEC) as well as its allies to increase oil production.
