EU says it’s ready if Russia decides to cut off the gas
The European Union is ready in case Russia decides to cut off gas supplies to the bloc in the wake of the Ukraine invasion and subsequent sanctions, Europe’s energy chief told CNBC Thursday.The EU receives most of its natural gas supplies from Russia…
Russia’s war with Ukraine offers critical lessons for global energy markets
The Ukrainian people are bearing the heaviest weight of the war they are fighting with Russia, but the war has had grave consequences for global energy markets as well.The European Union relies on Russian natural gas, and that dependence has forced th…
White House vows to avoid future sanctions on Russian crude oil
The Biden administration won’t sanction Russian crude oil because that would harm U.S. consumers and not Vladimir Putin, a U.S. State Department official said Friday.“The sanctions will not target the oil flows as we go forward,” Amos Hochstein, th…
U.S. December oil demand hits highest since before pandemic -EIA
Feb 28 (Reuters) - U.S. oil demand rose in December to its highest level since before the coronavirus pandemic began, the U.S. Energy Information Administration (EIA) said on Monday, with product supplied nearing 21 million barrels per day (bpd).Overa…
7 Questions for Creating an Effective Dewatering System
As land becomes more expensive, leveraging the real estate below the earth’s surface for parking garages, new utilities and even meeting rooms has become a reality. And, as any experienced contractor knows, excavating in these spaces often turns up s…
U.S. slaps sanctions on company building Russia's Nord Stream 2 pipeline
WASHINGTON, Feb 23 (Reuters) - The United States on Wednesday imposed sanctions on the company in charge of building Russias Nord Stream 2 gas pipeline, expanding penalties on Moscow after it recognized two breakaway regions in eastern Ukraine.The san…
Germany halts approval of gas pipeline Nord Stream 2 after Russia’s actions
Germany on Tuesday halted the certification of the Nord Stream 2 gas pipeline designed to bring natural gas from Russia directly to Europe, after Russian President Vladimir Putin recognized breakaway parts of eastern Ukraine and ordered troops into th…
LUKOIL begins supply of green electricity to Nizhny Novgorod refinery
PJSC LUKOIL has started supplying electricity generated from the second-stage solar power plant (SPP) located at subsidiary OOO LUKOIL-Volgogradneftepererabotka’s 14.8-million tpy Volgograd refinery in southern Russia to fellow subsidiary LLC Lukoil-…
German chancellor says the West has to ‘work very hard’ to find energy sources beyond Russia
German Chancellor Olaf Scholz has told CNBC that the West has to work “very hard” to find alternative sources of energy beyond Russia as talks of potential sanctions intensify.Speaking to CNBC’s Hadley Gamble at the annual Munich Security Conferenc…
Devon focused on maintenance, plans roughly $2 billion in 2022 upstream capex
Devon Energy Inc., Oklahoma City, plans to spend $1.9-2.2 billion in upstream capital projects in 2022, a roughly 10% increase from last year that executives say shows their commitment to a “disciplined maintenance capital program.”The operator on F…
ConocoPhillips is selling extra gas to bitcoin miners in North Dakota
Oil and gas major ConocoPhillips is in the bitcoin mining fuel business.The company said in a statement to CNBC on Tuesday that it has one bitcoin pilot project currently operating in the Bakken, a region in North Dakota known as an important source o…
BP sticking with Russia business, says Ukraine crisis is having ‘no impact’ on its operations
Oil and gas giant BP said Monday that mounting risks of a Russian invasion of Ukraine are having no impact on its operations within the major energy-producing nation.Speaking at an oil and gas exhibition conference in Cairo, Egypt, CEO Bernard Looney …
Oil jumps amid escalating tensions between Russia and Ukraine
Oil prices jumped in afternoon trading Friday amid escalating tensions between Ukraine and Russia.With about 2 hours left to the trading day, U.S. National Security Advisor Jake Sullivan said at a White House briefing that there were signs of Russian …
Oil will hit $120 a barrel if Russia invades Ukraine, strategist predicts
Oil will “certainly” hit $120 a barrel and the global economy will be “radically altered” if Russia invades Ukraine, veteran strategist David Roche has predicted.Moscow has denied that it plans to invade neighboring Ukraine, but has moved around 1…
PETROAN seeks establishment of modular refineries
Port Harcourt — The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has charged the Federal Government to ensure massive establishment of modular refineries across the country, in order to put operators of illegal refineries…
BlackRock CIO says stock picking will be a key theme for 2022 — and explains where to look
LONDON — Stock picking is going to be more important for investors than macroeconomic themes in 2022, according to BlackRock’s Nigel Bolton.Markets continue to grind higher against a backdrop of uncertainty, and developments on the Covid-19 front, g…