Finland is prepared that it could be next on Russia’s list for cutting off gas deliveries for European Union members, as the Russian neighbor to northwest is expected to decide within weeks whether to apply to join NATO.
Following Russia’s war against Ukraine, there has been a sharp rally in crude oil prices. Crude oil price (WTI) shot up from $92/barrel just before the start of the conflict to above $120/bl.
Western oil majors have quit Russia altogether, taking billions of dollars in vague impairment charges on Russian energy assets, and now comes the hard math
Polish Prime Minister Mateusz Morawiecki says his country will ban all imports of Russian gas, oil and coal by the end of the year.
Oil prices tumbled more than US$5 on Monday as fears over weaker fuel demand in China grew after financial hub Shanghai launched a two-stage lockdown to contain a surge in COVID-19 infections.
The armed conflict between Russia and Ukraine led to a reduction in offtake of Russian crude and a consequent increase in crude oil and gas prices.
The global energy market has been suddenly upended by Russia’s invasion of Ukraine, but one energy boss says the US could step in and help shore up global supplies.
Oil prices fell on Sunday at the start of the session, extending last week’s decline, as a U.S. official said Russia was showing signs it might be willing to have substantive negotiations over Ukraine.
United States President Joe Biden has imposed an immediate ban on Russian oil and other energy imports in retaliation for Russia’s invasion of Ukraine, while the United Kingdom said it would phase out imports by the end of 2022.
Exxon Mobil 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.