According to a document from the Russian economy ministry, higher gas export volumes coupled with increasing gas prices will increase Russia's energy export revenue to $337.5 billion this year, up 38% from 2021.
The effects of sanctions and buyer reluctance on Russian oil will be fully obvious starting in May, according to the International Energy Agency (IEA).
In a meeting that took place today, OPEC+ decided to stick to its agreed plan to ramp up oil production to 432,000 barrels of per day (bbl/d) in May, Al Sharq reported.
US oil giant Chevron stated that it is currently in the process of assessing the state of a Black Sea port’s export terminal after Russian claims that it may have faced storm damage, according to Reuters.
Baker Hughes has announced that it has halted its new investments in Russia due to its invasion of Ukraine.
Shell announced that it intends to withdraw from its all-hydrocarbons business in Russia including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased manner aligned with new government ...
The Deputy Director of Production at the National Iranian Oil Company (NIOC), Farrokh Alikhani announced that his company has prepared a precise plan to resume oil production to the pre-sanctions levels in one wee ...
Crude inventories at Venezuela’s export terminal, Jose, have surpassed their highest levels since August due to customers' fears over sanctions deadlines.
Saudi Arabia is preparing to export an additional 4 million barrels of crude to India in November.
The European Union is updating legislation to allow European companies to avoid US sanctions when doing business with Iran.
