To avoid falling foul of European Union sanctions against Russia, major global trading decided to reduce purchases of crude and fuel from Russia's state-owned oil companies as early as May 15, Reuters reported.
The effects of sanctions and buyer reluctance on Russian oil will be fully obvious starting in May, according to the International Energy Agency (IEA).
Greece, which imports around 40% of its annual energy from Russia, has previously produced tiny amounts of oil and attempted to investigate its hydrocarbon potential. However, prior years' low oil prices, a shift ...
A number of high-sulphur crude grades, including Russian Urals, have been excluded from Indian Oil Corporation (IOC)'s latest tender, trade sources have said, Reuters reported.
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 ...
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.
Despite Russia's war in Ukraine and the addition of new sanctions, Sokol crude shipments from the Far East have sold out for next month, proving that the pariah nation continues to find buyers.
Shell announced that it will write off up to $5 billion after announcing its decision to exit Russia.
ExxonMobil has suspended its liquefied natural gas project in Russia's Far East after the company announced plans to leave the country following Western sanctions.
Throughout Europe, natural gas prices are fluctuating as supply fears intensify alongside calls for further sanctions against Russia.
