07 Oct 2022

Facing risk of blackouts this winter, the UK will drill for more oil

The UK government may award over 100 new licenses to oil and gas companies to drill in the North Sea to improve energy security during a global supply shortage. The licensing round was launched on Friday and won’t lead to new production for several years.  When the drilling does begin,

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10 Jun 2022

West unlikely to reject Russian energy for years – Putin

Putin has announced that he doesn’t believe that the West will be able to cut off supplies of Russian oil and gas for several years. He said Russian companies will not be concreting over their oil wells. A US official did admit that Russian profits around energy are higher now

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01 Jun 2022

Serbia’s gas deal with Putin has created a fresh headache for Europe

Serbia’s President Aleksandar Vucic announced on Sunday that Serbia has agreed to a three year gas supply deal with Gazprom, Russia’s state energy provider. In doing so, Vucic could upset the Western anti-Putin alliance and the European Union (EU). The EU has recently announced the final deal for a sixth

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03 May 2022

Iranian oil minister meets Venezuela’s Maduro in Caracas

Venezuela welcomed Iran’s oil minister, Javad Owji, in an official visit on Monday. The minister met with President Nicolas Maduro and discussed overcoming the sanctions imposed by the United States on both Iran and Venezuela.  The two officials met at the presidential palace in Caracas and according to President Maduro,

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02 May 2022

EU Prepares Ban on Russian Oil

The European Union is expected to propose ending purchases of Russian oil in the bloc by the end of 2022. A ban on refined oil products from Russia is expected to occur by the year-end as well. The proposals are expected to be announced and circulated on Tuesday to the

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25 Mar 2022

Russia is considering selling its oil and gas for bitcoin as sanctions intensify from the West

Faced with stiffening sanctions from Western countries over its invasion of Ukraine, Russia is considering accepting bitcoin as payment for its oil and gas exports. In a videotaped news conference held on Thursday, the chair of Russia’s Duma committee on energy said in translated remarks that when it comes to

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14 Mar 2022

Could Middle East nations come to the rescue as the Ukraine war drives up oil prices?

An announcement by a United Arab Emirates diplomat on Wednesday raised hopes that Gulf oil producers may assist the globe as oil prices climb to an eight-year high due to the war between Russia and Ukraine. Yousef Al Otaiba is the UAE ambassador in the US and stated his country

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08 Mar 2022

Shell to stop buying Russian crude oil, gas over Ukraine invasion

Shell apologized for purchasing Russian crude oil last week and said it would withdraw completely from involvement with Russian hydrocarbons. Shell bought a cargo of Russian crude oil from Swiss trader Trafigura in S&P Global Platts window from Baltic ports at a low of minus $28.50 a barrel.  Shell said

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05 Jan 2022

Kazakhstan’s government resigns as fuel protests rage

On Wednesday, Kazakh President Kassym-Jomart Tokayev resigned amid fuel protests that have wreaked havoc across the country. In the latest protests, nearly 100 police were injured. The high fuel prices prompted hundreds of protesters to gather in the main square in Almaty, the biggest city in Kazakhstan. Police forces used

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03 Jun 2021

Firefighters battle massive fire at Iranian oil refinery

On Wednesday, a massive fire erupted at an Iranian oil refinery located south of the capital city, Tehran. There have been no reported casualties or injuries as emergency services and firefighters battled the flames, according to a spokesman for Iran’s emergency department and state media. The head of Tehran’s Provincial

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