International

Russia-Ukraine war impact: Will the 1970s-style oil crisis happen again?

Oil prices are surging due to the war in Ukraine and sanctions on Russia, but the 1970s energy crisis is not likely to happen again because the world now relies less on oil, according to the International Monetary Fund (IMF).

Four European gas buyers made rouble payments to Russia

Four European gas buyers have paid for supplies in roubles following Russian President Vladimir Putin demand, Bloomberg News reported, citing a person close to Russia energy company Gazprom PJSC.

Exxon declares force majeure on Russian Sakhalin-1 operations

Exxon Mobil Corp said on Wednesday that its Russian unit Exxon Neftegas Ltd has declared force majeure for its Sakhalin-1 operations, where it has become increasingly difficult to ship crude out of due to sanctions on Russia.

Schlumberger says carrying value of Russia assets is $800mln

Oilfield services firm Schlumberger NV on Wednesday said the carrying value of its net assets in Russia was roughly $800 million as of March 31, 2022, according to a filing with the U.S. Securities and Exchange Commission (SEC).

Schlumberger reports higher profit as drilling activity increases

Schlumberger reported a higher first-quarter profit on Friday, as rising oil prices boosted the demand for oilfield services and equipment needed to drill and raise production.

Eni signs Congo Republic LNG deal

The deal is the latest Italian move to reduce dependence on Russian gas

Shell in talks with Chinese firms to sell stake in Russian gas project

Energy giant Shell is in talks with some Chinese companies to sell its stake in a major Russian gas project amid sanctions imposed on Moscow over its invasion of Ukraine, The Telegraph reported on Thursday.

Libya shutdowns cause 550k bpd output loss, NOC media office says

The blockades by groups in southern and eastern Libya citing political demands have caused NOC to declare force majeure