Companies

Shell Plc is reportedly in discussions over the sale of Shell Neft, its chain of retail fuel stations in Russia, as part of its exit plan in the aftermath of Russian President Vladimir Putin’s invasion of Ukraine, Bloomberg reported on Friday. “We can confirm the ongoing negotiations on the sale …

Chinese fuel demand will continue to expand this year, despite COVID lockdowns and weak economic data for April, says PetroChina, the country’s biggest oil and gas refiner. “With the improvement of the COVID situation, refined product inventory is now showing a downturn,” Reuters quoted Ren Lixin, vice president of PetroChina, …

A refinery owned by French supermajor TotalEnergies in Germany is expected to continue importing Russian crude oil via pipeline at least through the end of this month, sources familiar with the matter told Reuters on Tuesday. The 240,000-barrels-per-day refinery Leuna in eastern Germany is one of two facilities in Germany …

Gazprom PJSC’s daily natural-gas sales to key foreign markets slipped to the lowest in three months in April as customers turned to cheaper supplies on the spot market amid mild weather and a wave of LNG. Europe has been importing record amounts of discounted liquefied natural gas on the back …

ExxonMobil and Chevron have reported soaring profits despite lower oil and natural gas volumes as the petroleum giants return billions of dollars to shareholders in the wake of lofty crude prices and refining margins. Both US oil giants scored huge profit increases propelled by crude prices that rose after the …

CNOOC has brushed aside recent media reports that the firm is considering withdrawing from oilfield investments in the UK North Sea, the US and Canada. The Nikkei Asia financial publication said the Chinese national oil firm is not, contrary to reports, seeking to diminish its vulnerability to Western-led sanctions targeting …

Russia’s gas giant Gazprom PJSC reported its highest-ever annual income for 2021, when natural gas prices soared during Europe’s worst energy crunch in decades. The producer benefited from a surge in gas prices as Europe, its largest export market, faced a severe energy deficit due to post-Covid recovery allied to …

Technip Energies NV may have to considerably slow construction for Novatek PJSC’s Arctic LNG 2 project because of the latest European Union sanctions against Russia for invading Ukraine. The prospect is a blow for Netherlands-based Technip and the Russian energy company, which is developing the giant export terminal for super-chilled …

Exxon Mobil Corp is considering a complete withdrawal from Russia by 24 June, two sources familiar with the plans told Reuters on Thursday (21 April), following the US oil major’s earlier decision to exit all operations in the country. Exxon Mobil has not provided a timetable for the withdrawal but …

CNOOC Ltd. jumped 20% in its first day of trading in Shanghai as mainland investors jumped at the chance for exposure to soaring oil and gas prices. The company’s A-shares opened at 12.96 yuan ($2.02), after pricing at 10.80 yuan. China’s biggest offshore driller is raising 28 billion yuan ($4.3 …