Russia | Egypt Oil & Gas - Part 11
IEA to Set Strategy for Reducing Oil Usage While Prices Soar
The International Energy Agency (IEA) disclosed that it might release more oil from stocks to reduce its current high prices noting that it will set a plan to reduce oil usage as soon as possible, the IEA’s Executive ...
Shell Intends to Withdraw from Russian Oil, Gas
Shell announced its plans for withdrawal from all Russian hydrocarbon business, including crude oil, petroleum products, gas, and liquefied natural gas (LNG) in “a phased manner aligned with new government guida...
US Bans Oil Imports from Russia
US President Joe Biden declared a ban on oil and other energy imports from Russia in retaliation for its invasion of Ukraine, Reuters reported. “We’re banning all imports of Russian oil and gas energy,” Bi...
Enel to Resume Plans for Building LNG Terminal in Italy
Italy’s Enel announced its readiness to complete its plan of building a liquefied natural gas (LNG) terminal in southern Italy as a part of the country’s intensive efforts to find an alternative to Russian natural gas...
Germany to Build LNG Terminal to Cut Reliance on Russian Gas
Germany has signed a memorandum of understanding (MoU) with the country’s top power producer RWE and Dutch network operator Gasunie to build a liquefied natural gas (LNG) terminal in the port town of Brunsbuettel, Reu...
Shell to Dedicate Profits from Russian Oil Trade to Fund Ukraine Humanitarian Aid
Shell announced that the profits that it made from any Russian oil it purchased will be contributed to funding humanitarian aid to Ukraine, Reuters reported. In the report, Shell also said it would avoid buying Russia...
Wintershall Dea Writes Off Nord Stream 2 Financing
Responding to Russian attack on Ukraine, Wintershall Dea announced that its AG’s Management Board decided to stop advancing or developing new oil and gas projects in Russia and to write off its financing of Nord Strea...
Italy Holds Financing for Russian LNG Project
In response to Russia’s invasion of Ukraine, Italy disclosed that it will put its share of financing on hold for the Arctic LNG 2 project led by privately-owned Russian gas producer Novatek, Reuters reported quo...
