OPEC+ maintains modest hike in oil production as EU weighs up Russian import ban May 5, 2022 OPEC+ has agreed a modest increase in its oil production targets next month, following a meeting earlier today.
European Union finally unveils Russian oil import ban May 4, 2022 The EU has proposed to phase out Russian oil imports, as part of a sixth package of sanctions against Russia following its invasion of Ukraine.
OPEC+ forecasts oil surplus as high prices and lockdowns bite into demand expectations May 4, 2022 OPEC+ anticipates oil supply to exceed demand later this year by nearly two million barrels per day amid reduced growth expectations.
Oil prices tumble as China lockdowns cut into demand expectations May 2, 2022 Oil prices have plummeted amid forecasts of weak economic growth in China, which has lowered demand expectations.
Oil prices recover as Germany lifts opposition to Russian import ban April 29, 2022 Oil prices have risen for a fourth consecutive day with concerns over Russian supply disruptions trumping reduced demand in China.
Allianz vows to stop insuring Arctic oil and gas projects April 29, 2022 Insurance giant Allianz has said it will stop insuring Arctic oil and gas fields by the middle of next year. The German multinational, which is one of the biggest oil and gas sector insurers in the world, vowed to stop insuring new oil and gas fields, oil powerplants, and oil pipelines in the Arctic by [...]
Germany ‘won’t stand in the way’ of EU ban on Russian oil imports April 29, 2022 Germany has dropped its opposition to a potential European Union (EU) ban on Russian oil imports after weeks of resisting the move.
Revealed: Russia pockets £53bn in oil and gas cash since start of Ukraine war with £7.6bn from Germany April 28, 2022 It has been revealed that Germany was the biggest buyer of Russian energy during the first two months of the war in Ukraine A study published by the Centre for Research on Energy and Clean Air (CREA) calculated that Russia has earned £53bn from fossil fuel exports since February 24, the date Russian troops attacked [...]
Sigh of relief in the City as govt calls idea of windfall tax on oil and gas profits ‘disastrous’ April 27, 2022 The Justice Secretary this morning dismissed Labour’s plan for a windfall tax on oil and gas companies to ease the cost-of-living crisis, calling the idea “disastrous”. Dominic Raab told Sky News: “If you look at Labour’s policy, you asked about it – of a windfall tax – that would damage investment in energy supplies we [...]
£220m of oil money flows from UK to Russia since Putin sent troops and tanks into Ukraine April 27, 2022 Since the Kremlin sent troops and tanks across the border into Ukraine in February, the UK has imported around £220m worth of Russian oil, it has emerged. Figures released on Wednesday show 1.9 million barrels of oil, or 257,000 tonnes, have been imported since Russian President Vladimir Putin launched the latest stage of his eight-year [...]