Companies

Equinor, Western Europe’s largest natural gas producer, said it is extracting oil and gas at full capacity in order to replenish the continent’s dwindling gas storage, while admitting that Europe’s dependency on Russia will be “difficult” and will require greater investment in both fossil fuels and renewables. As part of …

Energy giant Shell says it will stop buying Russian oil and natural gas as well as shut down its service stations and other operations in the country amid international pressure for companies to sever ties over the invasion of Ukraine. Shell says in a statement Tuesday that it would withdraw …

Danish turbine manufacturer Vestas plans to stop four Russian wind projects in response to the country’s invasion of Ukraine, Danish newspaper Ekstra-Bladet reported citing company spokesperson. The four projects that are currently in the development phase include Novoalekseevskaya, Grazhdanskaya, Ivanovskaya, and Pokrovskaya. They have a combined capacity of 253MW, according …

Several major oil companies and investors have announced in recent days they are withdrawing from Russian resource development or not pursuing new projects with Russia, including in the Arctic, after Russia’s invasion of Ukraine. BP was the first to announce such plans. On Sunday, the company said that it was …

Russian energy company Gazprom on Thursday resumed westbound gas supplies via the Yamal-Europe pipeline to Germany from Poland, data from Gascade pipeline operator showed. Flows have been at 5.9 million kilowatt-hour per hour (kWh/h), while renominations, or preliminary bids, stand at 19.3 million kWh/h until Friday morning.

Italian oil giant Eni said Tuesday it would withdraw from the Blue Stream gas pipeline linking Russia to Turkey, in which it has a 50 percent stake. “Eni intends to sell its stake” in Blue Stream, a company spokesman said, following moves by rivals BP and Shell to divest from …

Norwegian energy company Equinor ASA has announced that it will begin exiting its current joint ventures in Russia and give up potential new investments, thus putting an end to its presence of more than 30 years in the country. “We are all deeply troubled by the invasion of Ukraine, which …

The U.K. government has argued for some of the toughest possible sanctions on Russia. At the same time, BP Plc holds one of the single biggest foreign investments in the country. It’s an increasingly uncomfortable position for the British energy giant — one that has prompted concerns at the highest …

Operator TotalEnergies has made a significant discovery of light oil and associated gas off the coast of Namibia, the company said on Thursday, 24 February. Two sources earlier told Reuters about the large discovery in the Venus-X1 well, the second recent offshore discovery for the southern African country that has …

Reuters said that CNOOC completed the foundation for six giant LNG storage tanks each sized 270,000 cubic meters. The location of the LNG receiving terminal is at Yancheng Binhai Port Industrial Park in Jiangsu province. CNOOC said it officially kicked off the construction of the main body of storage tanks …