International

President Vladimir Putin has promised tax incentives and other benefits to encourage companies to develop the Arctic region.

In China. the economy seems to be reacting to the government’s stimulus measures with purchasing managers.

Novatek became Russia’s top LNG producer after starting up its plant in the Yamal peninsula almost two years ago.

US shale drillers have run into a series of problems that have resulted in increased scrutiny on their operations.

The EU issued an official statement urging the sides in the conflict to stop the violence.

Venezuela. plus Iran and Libya. were exempted from making voluntary curbs under the OPEC+ deal.

London-based Standard Chartered has been fined $1.1 billion by US authorities for allegedly breaching sanctions against Iran and other countries.

The joint ministerial monitoring committee of OPEC+ is meeting in May.

At the current price of USD 70 per barrel. the annual value of global oil output is USD 2.5 trillion.