Sanctions | Egypt Oil & Gas - Part 3
Lukoil to Sell International Assets after New Sanctions Imposed
Russian oil giant Lukoil plans to sell its international assets following the imposition of new restrictive measures against the company and its subsidiaries. The move signals a major shift for one of Russia’s largest...
U.S, EU Tighten Pressure on Russia with Oil, LNG Sanctions
U.S. President Donald Trump announced on Wednesday Ukraine-related sanctions for the first time in his second term, blacklisting Russian oil major companies Lukoil and Rosneft amid growing frustration with President V...
Russia’s Economy Ministry Expects $337.5B in Energy Export Revenue
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,...
Russian Oil Supply to Plummet to Double in May
The International Energy Agency (IEA) stated that sanctions and consumer reluctance to buy Russian oil will take full effect starting in May, Reuters reported. Expected decreased demand in China, output increases from...
OPEC+ Commits to Modest Production Increase Despite Western Pressure
OPEC+ group decided to stick to its agreed plan to ramp up oil production only by 432,000 barrels per day (bbl/d) in May, ignoring Western pressure to significantly boost production Al Sharq reported. In a statement ...
Chevron Examines State of Black Sea Export Terminal in Russia
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 Russia said that it may have faced storm damage, according to Reuters. However, Chevr...
Baker Hughes Suspends New Investments in Russia
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 ...
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...
