Oil and gas operators in the North Sea have been cautioned about the possibility of an overwhelming wave of industrial turmoil after workers voted in favour of a strike over
The London Metal Exchange discovers irregularities in nickel contracts
The reopening of nickel trading during Asian trading hours by the London Metal Exchange (LME) has been postponed due to the discovery of irregularities in nine nickel contracts.
Russia’s oil export revenue sank by 42% in February as sanctions bit
Western nations implemented far-reaching sanctions against Russian crude oil and oil products as a measure to reduce Russia’s oil revenues.
In a year marked by sanctions, Russia accumulated an offshore cash reserve of $80 billion
Amid the ongoing sanctions and amid the US and its allies’ efforts to tighten them over the invasion of Ukraine, Russia has managed to stash roughly one-third of its $227
Saudi Aramco announced a historic profit of $161.1 billion.
On Sunday, Aramco the oil giant from Saudi Arabia, announced a yearly net profit of $161.1 billion for 2022, setting a new record with a 46% increase from the previous
Russia’s deficit leaps to £29bn as Putin keeps on spending
The first two months of the year saw a rise in Russia’s budget deficit due to a decline in oil and gas revenues and sanctions imposed as a result of
Laughter as Russia’s Lavrov says war ‘launched against us’ after attending a G20 meeting
During his attendance at a G20 meeting of foreign ministers, Sergei Lavrov, Russia’s foreign minister, made a statement at the ‘Raisina Dialogue’ in Delhi regarding the Ukraine conflict, which was
The damaged Nord Stream gas pipelines are about to be mothballed by Russia
Sources familiar with the matter have informed Reuters that Russia intends to seal and mothball its ruptured undersea Nord Stream gas pipelines, with no immediate plans for repair or reactivation.
Although Russian energy revenues have improved, they are still only at 50% of the monthly average.
Last month, Russia experienced a 20% increase in energy revenues due to a taxation adjustment, rather than a surge in exports.
Energy providers prepare for Jeremy Hunt to extend bill support
Jeremy Hunt is expected to extend the government’s energy price guarantee at its current level for three more months, preventing household bills from increasing by an average of £500 from
The oil and gas sector in the UK has raised concerns that the imposition of windfall taxes is discouraging investment in the industry
According to the trade body of the UK oil and gas industry, Offshore Energies UK, companies in the sector are reducing their operations in the North Sea and prioritizing investment