The world is scrambling for oil after Russia’s invasion of Ukraine sent prices rocketing and upended global supply but producers in Canada, home to the world’s third-largest reserves, have no plans to significantly boost output.
The U.S. nuclear power industry is lobbying the White House to allow uranium imports from Russia to continue despite the escalating conflict in Ukraine, with cheap supplies of the fuel seen as key to keeping American electricity prices low, according to two sources familiar with the matter.
Exxon Mobil (XOM.N) on Tuesday said it would exit Russia oil and gas operations that it has valued at more than $4 billion and halt new investment as a result of Moscow’s invasion of Ukraine.
The Swiss-based company which built the Nord Stream 2 gas pipeline from Russia to Germany is considering filing for insolvency, two sources familiar with the situation said, as it attempts to settle claims ahead of a U.S. sanction deadline for other entities to stop dealings with it.
Analysts believe that sanctions and the migration of Western oil corporations will have an immediate impact on Russian oil production.
The global oil market was thrown into chaos on Thursday after Russia invaded Ukraine, with top buyers of Russian oil struggling to secure guarantees at Western banks or find ships to take crude from one of the world’s largest producers.
Oil prices jumped on Thursday, with Brent rising above $105 a barrel for the first time since 2014, after Russia’s attack on Ukraine exacerbated concerns about disruptions to global energy supply.
The United States will hold its biggest ever sale of offshore wind development rights on Wednesday, in an area covering nearly half a million acres off the coasts of New York and New Jersey.
After a month in which oil prices surged 15% and geopolitical tensions seethed around the world, OPEC and its allies took a record-quick 16 minutes to decide that they would stick to their previously planned output increase.
Shell (SHEL.L) again boosted its dividend and share repurchases on Thursday after fourth quarter profits hit their highest in eight years, fuelled by higher oil and gas prices and strong gas trading performance.
The world is scrambling for oil after Russia’s invasion of Ukraine sent prices rocketing and upended global supply but producers in Canada, home to the world’s third-largest reserves, have no plans to significantly boost output.
The U.S. nuclear power industry is lobbying the White House to allow uranium imports from Russia to continue despite the escalating conflict in Ukraine, with cheap supplies of the fuel seen as key to keeping American electricity prices low, according to two sources familiar with the matter.
Exxon Mobil (XOM.N) on Tuesday said it would exit Russia oil and gas operations that it has valued at more than $4 billion and halt new investment as a result of Moscow’s invasion of Ukraine.
The Swiss-based company which built the Nord Stream 2 gas pipeline from Russia to Germany is considering filing for insolvency, two sources familiar with the situation said, as it attempts to settle claims ahead of a U.S. sanction deadline for other entities to stop dealings with it.
Analysts believe that sanctions and the migration of Western oil corporations will have an immediate impact on Russian oil production.
The global oil market was thrown into chaos on Thursday after Russia invaded Ukraine, with top buyers of Russian oil struggling to secure guarantees at Western banks or find ships to take crude from one of the world’s largest producers.
Oil prices jumped on Thursday, with Brent rising above $105 a barrel for the first time since 2014, after Russia’s attack on Ukraine exacerbated concerns about disruptions to global energy supply.
The United States will hold its biggest ever sale of offshore wind development rights on Wednesday, in an area covering nearly half a million acres off the coasts of New York and New Jersey.
After a month in which oil prices surged 15% and geopolitical tensions seethed around the world, OPEC and its allies took a record-quick 16 minutes to decide that they would stick to their previously planned output increase.
Shell (SHEL.L) again boosted its dividend and share repurchases on Thursday after fourth quarter profits hit their highest in eight years, fuelled by higher oil and gas prices and strong gas trading performance.
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