Russia’s Oil, Gas Budget Revenues Fell by Amost 36% y/y in May  

• Monday, 5th June 2023
• by Israa Ibrahim

The lower profit-based oil tax has caused Russia’s federal budget revenues from oil and gas, the backbone of the economy, to decrease roughly by 36% in May, compared to the same month last year, according to the Russi...

G7 May Restrict Russian Oil Shipments

• Wednesday, 3rd August 2022
• by Israa Ibrahim

If Moscow doesn’t heed a price cap, the wealthy nations of the Group of Seven (G7) are considering, among other things, to restrict the shipping of Russian oil to deprive Moscow of bumper revenues during its inv...

Shell to Write Off Up to $5B After Exiting Russia

• Thursday, 7th April 2022
• by Fatma Ahmed

Shell announced that it will write off up to $5 billion after announcing its decision to exit Russia, Reuters reported. This amount is more than previously disclosed, despite the fact that the increase in oil and gas ...

Lithuania Achieves Energy Independence From Russian Gas Supplies 

• Sunday, 3rd April 2022
• by Fatma Ahmed

Lithuania announced that it will not import Russian natural gas anymore to meet its domestic needs, Reuters report citing the country’s energy ministry. In doing so, Lithuania has become first the European count...

ExxonMobil Intensely Working Through Options for Exiting Russian Venture

• Sunday, 27th March 2022
• by Fatma Ahmed

ExxonMobil is currently working through options on how to proceed to withdraw from its Russian venture, the company’s Senior Vice President Neil Chapman told Reuters. “We are working through these options now, aggress...

Italy to Install Two FSRUs to Boost LNG Imports

• Wednesday, 23rd March 2022
• by Fatma Ahmed

Italian Minister of Energy Transition Roberto Cingolani announced that his country intends to install two floating storage and regasification units (FSRU) seeking to increase liquefied natural gas (LNG) imports withou...

Eneos Halts Russian Crude Purchases

• Tuesday, 22nd March 2022
• by Fatma Ahmed

Eneos Chairman Tsutomu Sugimori announced that his company has halted purchasing Russian crude oil after the invasion of Ukraine, Reuters reported. However, Sugimori elaborated that Eneos will keep contracts that were...

Baker Hughes Suspends New Investments in Russia

• Sunday, 20th March 2022
• by Fatma Ahmed

Baker Hughes has announced that it has halted its new investments for its operations in Russia due to its invasion of Ukraine. This decision came in line with its commitment to the applicable laws and sanctions as it ...

Neptune to Contribute $2M in Aid for Ukrainian People

• Tuesday, 15th March 2022
• by Fatma Ahmed

Neptune Energy has announced its $2 million contribution to support humanitarian efforts in Ukraine. The International Committee of the Red Cross and the International Rescue Committee will equally share the donation ...

Equinor Affirms Its Compliance with Russian Oil Sanctions

• Tuesday, 15th March 2022
• by Fatma Ahmed

In opposition to Russia’s invasion, Equinor has announced that it will not enter into any deals related to trading or transporting oil and oil products from Russia. This announcement came following the previous ...