It was announced today that Shell plc ("Shell") will pay the sterling equivalent and euro equivalent of its first quarter interim dividend announced on May 5, 2022 at US$0.25 per ordinary share.
TotalEnergies has been chosen by QatarEnergy as its first international partner in the North Field East (NFE) expansion project, which is the largest LNG project in history.
Russia is a key player in the global energy markets and one of the top oil producers in the world. Since the beginning of its attack on Ukraine, the oil and gas markets have gone through a new wave of uncertainty and destabilization. The news of the war has sent the world’s inflation higher and took oil and gas prices to unprecedented levels since 2014. The attempts by European countries and the U.S. to punish Russia through sanctions including measures against the oil and gas sector have doubled the worries about supply and prices.
As the relationship between global conflicts and economics increases in its complexity, currency has become just another one of many pieces to make that final checkmate move. In defiance of international sanctions, embattled Russian President Vladimir Putin declared that all “unfriendly” countries that have bought Russian energy supplies must fulfill their payments in roubles. This stood as a pressing challenge for the European Union, which gets an estimated 40% of its natural gas from Russia. Though several countries have asserted that the contract does not legally require them to pay using the Russian currency, they might not have any other option but to comply. While this request has received its fair share of criticism, it is a key decision that will force the energy market to support the value of the rouble in the face of tumultuous economic conditions.
Countries that have made a huge economic and scientific leap would not have taken a step towards prosperity and economic growth without legislation and laws that advance the wheel of development and preserve natural and human resources. Since the natural and political conditions change dramatically, quickly, and perhaps complicated from time to time, it was necessary to provide the needed flexibility for these legislations and laws in order to be suitable or compatible with the highly complicated global changes that occur and lead to negative economic effects on most people worldwide.
This comes as the Ministry of Petroleum and Mineral Resources announced the sector's achievements during the period from July 2014 to June 2022. The sector's milestones include the launch of 10 international bids during that period to search for oil and gas in the onshore and offshore areas in the Mediterranean, the Red Sea, the Delta, the Western and Eastern Deserts, the Gulf of Suez and Upper Egypt.
Russia said its gas sales to Europe were not going to be interrupted by Gazprom and said its plan to make gas customers pay in roubles was working as planned.
Eni and Norway's HitecVision have sold a 5% stake in Norwegian oil firm Vaar Energi (VAR.OL) for $530 million, the energy giant said on Thursday.
Minister of Petroleum and Mineral Resources Tarek El Molla stated that the public complaint resolution system succeeded in handling 99% of citizens' complaints, exceeding the expected rate of 98%.
