An EU sanctions loophole that allows imports of Russian crude if it’s refined elsewhere made Russia an estimated $1.2 billion (1.1 billion euros) from sales […]
News
Russian Rosneft Posts Nearly 50% Surge in Profits for 2023
Russian state-run oil company Rosneft has reported a nearly 50% jump in net profits for 2023, Reuters reports, hitting over $14 billion despite Western sanctions […]
Equinor Signs 15-Year LNG Supply Deal With Indian Firm
Equinor has signed a 15-year agreement to supply LNG to India’s Deepak Fertilisers, which will use the gas mainly as a feedstock for ammonia production […]
Ukrainian Drone Attacks Drag Russia’s Refining Rates Down by 380,000 Bpd
Russia’s oil refinery rates have slumped this month by 380,000 barrels per day (bpd) compared to December levels as several refineries are under repairs after […]
Gold Miner Polymetal to Exit Russia in $3.7 Billion Deal
Precious metals miner Polymetal is looking for an exit from Russia in order to avoid nationalization or other forms of expropriation and agreed to sell […]
Chevron Moves to Expand Giant Israeli Gas Field
Chevron has announced the start of the second phase of development at the Tamar gas field offshore Israel. Despite the ongoing war with Hamas, the […]
Energy Transition Requires $3.1 Trillion in Grid Investment by 2030
Renewable energy developments continue at break-neck speed, with $644 billion to be spent on new capacity in 2024, but outdated and inadequate power grids could […]
Lithium Price Slump? Exxon Says No Problem
The price of lithium may have fallen and Albemarle may consider them to be “unsustainable”, but Exxon isn’t giving up on its lithium expansion plans, […]
Buffett-Backed Occidental CEO Says Oil Shortage by 2025
Warren Buffett-backed Occidental Petroleum is predicting an oil supply shortage by 2025 due to global failure to replace crude reserves at a fast enough pace. […]
Electric Vehicle Giant BYD Plans Factory in Mexico
Chinese electric vehicle major BYD is considering opening a factory in Mexico, the Wall Street Journal has reported. Citing unnamed sources, the publication said that […]