Tag Archives: Russia

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 …

Natural gas prices in Europe extended gains as Norwegian flows plunged further amid planned works, while Russian shipments remained low. Benchmark futures gained as much as 5.2%, advancing for a third day. Supplies from Norway are set to slump to the lowest levels in more than three months with seasonal …

Companies buying Russian natural gas should not have to set up ruble accounts to pay for it, German Finance Minister Christian Lindner said, pushing back against a demand made last month by Russian President Vladimir Putin. “Contracts are contracts,” Lindner said Wednesday in an interview with Bloomberg Television in Washington. …

Shell has started to withdraw staff from its joint ventures with Russia’s Gazprom as it moves forward with plans to exit investments in response to the war in Ukraine. Dozens of Shell employees on temporary assignment at the Sakhalin-2 liquefied natural gas export project in Russia were removed over the …

Seaborne flows of Russian crude oil declined by a quarter in the seven days to April 15. Volumes heading to Asia from ports on the Black Sea, Baltic and Arctic coasts plunged to the lowest in two months. A total of 30 tankers loaded about 21.8 million barrels from Russian …

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed this weekend their countries’ cooperation in the OPEC+ oil production pact in their second telephone call since Russia’s invasion of Ukraine. Russia is a key partner to OPEC’s largest producer and de facto leader, Saudi Arabia, in the …

Oil prices rose on Monday as concerns grew about tighter global supply, with the deepening crisis in Ukraine raising the prospect of heavier sanctions by the West on top exporter Russia. Brent futures were up US$1.50, or 1.3 per cent, at US$113.20 a barrel at 12.30am GMT, and US West …

Russia’s oil industry—a vital source of budget revenues—is already showing signs of slowdown as Western buyers shun Russian oil while Moscow struggles to replace lost sales in the West with sales in emerging Asian markets. The war Putin started in Ukraine is hitting home: storage capacity is full, infrastructure and …

Some of Russia’s natural gas customers have agreed to pay in rubles for Russian gas, Deputy Prime Minister Alexander Novak said on Friday. Last month, Vladimir Putin said that “unfriendly” nations should pay in rubles for natural gas. Russia had set a March 31 deadline for the countries it considers …

The European Union has started drafting its proposal for an embargo on Russian oil imports as its latest response to the war in Ukraine, the New York Times reported, citing Brussels officials and diplomats. The embargo will most likely be introduced in a gradual way, similar to the planned Russian …