Berlin took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted after Moscow’s offensive in Ukraine. Rosneft’s German subsidiaries, which account for about 12 percent of oil refining capacity in the country, were placed under trusteeship of the Federal Network Agency, …
Read More »Shell CEO to Step Down at Year-End, Replaced by Gas Chief Sawan
Shell Plc Chief Executive Officer Ben van Beurden will step down at the end of this year after almost 40 years at the company, to be replaced by the firm’s head of gas and renewables, Wael Sawan. Van Beurden, 64, has steered the company through some of its most turbulent …
Read More »Gazprom will See Revenues Surge 85% this Year
Russia’s gas giant Gazprom is set to rake in 85% higher revenues this year, to around $100 billion, as natural gas prices surged following the Russian invasion of Ukraine and the significant cut to Russian pipeline gas exports to Europe, an analyst told the Financial Times on Friday. By choking …
Read More »Russia’s Gazprom, CNPC Agree to Use Rouble, Yuan for Gas Payments
State energy giants Gazprom and China National Petroleum Corporation (CNPC) signed several agreements on Tuesday, including on the use Russian roubles and Chinese yuan to pay for Russian natural gas supplies to China, Gazprom said. The agreements were in addition to a February deal between them to increase gas supplies …
Read More »Eni to Buy Algerian Upstream Business of BP
Italy’s Eni has signed a deal to acquire BP’s upstream business in Algeria, including stakes in two gas-producing concessions, for an undisclosed sum. The deal covers BP’s 45.89% stake in the ‘In Amenas’ concession and a 33.15% interest in the ‘In Salah’ concession. Eni expects the acquisition to strengthen its …
Read More »Gazprom to Shift Gas Sales to China to Rubles, Yuan from Euro
Gazprom PJSC said it will shift its contract to supply gas to China to rubles and yuan from euros, as the Kremlin steps up efforts to move trade out of currencies it considers “unfriendly” amid US and European sanctions. The state-run gas giant signed an additional agreement to its existing …
Read More »Gazprom Starts Producing LNG at Plant near Nord Stream Pipeline
Gazprom PJSC has produced its first liquefied natural gas at a small-scale facility on the Baltic Coast near the start of the shuttered Nord Stream pipeline to Germany. Two production lines at Portovaya LNG have produced some 30,000 tons of the super-chilled fuel, Gazprom Deputy Chief Executive Officer Vitaly Markelov …
Read More »ADNOC Sends First Low-Carbon Ammonia Cargo to Germany
Abu Dhabi National Oil Company (ADNOC) said that its first shipment of low-carbon ammonia has left the UAE bound for Hamburg, Germany, marking the first ever cargo of low-carbon ammonia to be shipped to the European country. The demonstration cargo will be delivered to Aurubis, a leading global provider of …
Read More »Russia’s Gazprom Says Siemens Energy Ready to Fix Nord Stream Fault
Russia’s Gazprom said on Saturday Siemens was ready to carry out repairs on the Nord Stream 1 pipeline but there was nowhere available to carry out the work, a suggestion Siemens denied and said it had not been asked to do the job. Gazprom’s statement came a day after it …
Read More »Aramco Set to Take Stake in Renault’s Future Thermal Engine Business
Saudi Arabia’s oil and gas giant Saudi Aramco could take a stake in French automaker Renault’s future thermal engine business after it separates it from its electric vehicle division. According to a Reuters report on Tuesday, China’s Geely Automobile Holdings and an oil group are in talks over taking stakes …
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