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From 1 February, Russia will completely ban the sale of oil to countries that have introduced a price cap on its exports. The $60 (€56) cap was agreed at the beginning of December by the EU, the G7 group of nations and Australia. On 27 December, Russian President Vladimir Putin …

Japanese firms have signed new long-term agreements to buy LNG from the United States and Oman as Japan looks to cater for its energy security and further diversify its LNG sourcing options. INPEX Corporation, the major gas firm in Japan, announced on Monday a long-term Sales and Purchase Agreement with …

Iran’s Petroleum University of Technology (PUT) and the Belarusian State Technological University (BSTU) will sign a memorandum of understanding for cooperation through video conference. The document will be aimed at starting scientific activities and meeting the needs of the oil industry and establishing a close relationship between the two parties. …

Europe will find it difficult to replace Russian crude oil and product supply once the full effect of the EU embargoes on Russian petroleum products is felt, according to Russian Deputy Prime Minister Alexander Novak. “Europe used to be a key market for the sale of our oil products. Let …

TC Energy, the operator of the Keystone Pipeline, has received approval from the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) for its plan to restart the section of the pipeline from Steele City close to the Nebraska-Kansas border to Cushing, Oklahoma. The company, however, did not say when the …

The EU market remains open for Russian liquefied natural gas (LNG), and Russia is ready to resume supplies via the Yamal-Europe pipeline, Russian Deputy Prime Minister Alexander Novak said in an interview with TASS news agency. “Even now this market is not closed. For example, we were able to significantly …

Russia’s state nuclear energy company Rosatom expects its exports to have increased by 15% this year, chief executive Alexey Likhachev was quoted as saying by Russian newspaper Izvestia on Monday. Rosatom’s portfolio of foreign orders is set to remain stable at $200 billion, “even in the current geopolitical situation,” Likhachev …

Japan signed two sets of cooperation agreements with Saudi Arabia on Dec. 25 in the fields of hydrogen, fuel ammonia and carbon recycling, strengthening the current relationship primarily based on buyer and supplier of crude oil. The cooperation agreements were the latest in Japan’s efforts to develop its large-scale supply …

Algeria has set the reference price for crude oil at $60 a barrel through 2023-2025, state news agency (APS) said on Sunday, citing the 2023 budget approved earlier in the day by President Abdelmadjid Tebboune, Trend reports citing Reuters. The budget set the market price for crude oil at $70 …

Investors with combined assets of $1.4 trillion have demanded the world’s biggest oil companies take swifter action to cut greenhouse gas emissions. This year has seen record profits for Big Oil as countries emerged from Covid lockdowns, boosting energy consumption and prices as supplies tightened. The companies bolstered shareholder payouts …