Russia’s Deputy Prime Minister Alexander Novak has warned that the country’s authorities may be prepared to accept a certain decline in oil production — despite the drop in government revenues — in response to the price cap officially agreed late last week by the G7 group of leading economies and Australia.
Major oil-producing countries led by Saudi Arabia and Russia agreed on December 4 to maintain their current output levels in a climate of uncertainty and ahead of fresh sanctions against Moscow coming into force next week.
Upstream investment in Russia’s oil and gas sector is set to plunge 30 per cent to $35 billion this year amid sanctions and a mass departure of foreign companies, Rystad Energy said in a report on Thursday.
The overall number of contracts in the oil and gas industry declined by 7% in Q3 2022, decreasing from 1,662 in the previous quarter to 1,542 in the current one, GlobalData, a data and analytics company, has said.
(WO) — Government and industry gathered on Nov. 30 to discuss energy security, the energy transition to net zero and challenges to maintaining investment in the North Sea during a forum hosted by industry regulator the North Sea Transition Authority (NSTA).
Upcoming sanctions on Russian oil are set to be “really disruptive” for energy markets if European nations fail to set a cap on prices, analysts warned.
The Alliance for Social Equality and Public Accountability (ASEPA) has asked the government to rescind its decision to purchase oil from the world market using gold.
The Nigerian National Petroleum Company Limited and TotalEnergies Upstream Nigeria Limited, operator of OML 130, and partners have inaugurated projects in seven states in furtherance of its Corporate Social Responsibility.
Plans to add 600-700MW solar capacity; approves net metering tariffs to drive captive generation
Ukraine is entering the winter with 14 billion cubic meters of gas in our storage facilities and 1.3 million tonnes of coal in storages.