Russia’s oil and gas revenue plunged 40% in January, a sign that the nation’s exports are feeling the squeeze of western sanctions, the International Energy Agency said.
Russian oil and gas output at the Sakhalin-1 project in the Far East is only half of what it was projected to be for 2022 after Russia’s invasion of Ukraine set off a series of Western sanctions that led to the departure of ExxonMobil.
The Canadian oil and gas industry could see investments topping pre-pandemic levels at some C$40 billion, or $29.36 billion, the Canadian Association of Petroleum Producers said.
Exports of crude oil from the United States have surged since Russia invaded Ukraine last year, with Europe turning into the biggest buyer of U.S. crude. The story is pretty much the same as in gas. And so is the production side of this story.
Petrobras shares fell at the beginning of the week as investors worry the policies of recently installed President Lula da Silva could erode the profitability of the state-owned oil major.
The Energy Information Administration (EIA) is an independent agency within the U.S. Department of Energy that provides data and analysis on energy production, consumption, and prices.
Crude oil prices gained slightly after the Energy Information Administration confirmed the API’s estimate of an inventory build for the week to February 25.
Gasoline prices can be unpredictable, fluctuating from day to day and even hour to hour. While it may seem like the cost of gasoline is arbitrary, there are actually several factors that impact how much you pay at the pump. In this article, we will explore the different factors that affect gasoline prices, including oil prices, refining costs, distribution costs, taxes, and more.
As the OPEC+ meeting in the first days of February only confirmed the oil group is intent on maintaining its strategy and will avoid sudden and drastic moves, Saudi Arabia was facing a peculiar dilemma with its March 2023 official formula prices.
Russia has become the single biggest crude supplier to India over the past year as the world’s third-largest oil importer snaps up discounted Russian oil banned in the West.