Tag Archives: Independent Newspaper

The European Union on Friday formally approved an embargo on Russian oil and other sanctions targeting major banks and broadcasters over Moscow’s war on Ukraine. EU headquarters says Russian crude oil will be phased out over six months, and other refined petroleum products over eight months. It says that “a …

Russian President Vladimir Putin said Russia was not using gas supply as a weapon and was ready to help ease Europe’s energy crunch as the EU called an emergency summit to tackle skyrocketing prices. Energy demand has surged as economies have rebounded from the pandemic, driving up prices of oil, …

The European Parliament’s environment committee on Tuesday rallied behind EU plans to make companies and countries cut their methane emissions, indicating lawmakers are likely to back upcoming legislation to clamp down on the potent greenhouse gas. Methane is the second biggest cause of climate change after carbon dioxide. It has …

China’s Silk Road Fund and Saudi Arabia’s Hassana Investment Co. have joined a group of investors in Saudi Aramco’s oil pipelines. The consortium led by U.S. group EIG Global Energy Partners LLC acquired a 49% equity stake in Aramco Oil Pipelines Co. for $12.4 billion, according to an emailed statement. …

The Organisation of the Petroleum Exporting Countries (OPEC) says its compliance with the OPEC+ oil production cuts deal totalled 122 per cent in April, as production averaged 25.08 million barrels per day. In March, OPEC’s compliance with the production cuts deal was 124 per cent, at 25.04 million barrels per …

German Chancellor Angela Merkel on Friday stood by her backing for a German-Russian gas pipeline project despite the Navalny case and the threat of U.S. sanctions Merkel said her government’s position on Nord Stream 2 is still unaffected by tensions over Russian opposition leader Alexei Navalny who recovered in Germany …

BP Plc will make the biggest write down on the value of its business since the Deepwater Horizon disaster a decade ago, as the coronavirus pandemic hurts long-term oil demand and accelerates the shift to cleaner energy. In a dramatic revision that prompted questions about the affordability of its dividend, …

American oil producers are slashing their budgets for new operations for the rest of this year, which means far fewer new rigs, a painful downturn for dozens of oil-field services companies and the certainty of layoffs, from Texas to North Dakota. Worldwide, the coronavirus pandemic has kneecapped the petroleum business, …

Overall. the changes in Chinese society have caused a 40 per cent plunge in output across key industrial sectors.

The US president first brought the subject up in a meeting with Iraq’s then-leader Haider al-Abadi in March last year.