Oil Tops $110 as Russia Struggles to Maintain Energy Sales
Benchmark global oil prices surged above $110 a barrel, hitting a multiyear high, as concern mounted that Russia’s growing economic isolation since its invasion of Ukraine would disrupt global energy supplies.
Exxon to Shut Down Oil Production in Russia After Ukraine Attack
The Texas energy giant will exit its Sakhalin project in Russia’s Far East, and make no new investments in the country, following similar moves by BP and Shell.
Nord Stream 2 Gas Pipeline Lays Off All Employees
The operator of the pipeline connecting Russia with Germany faces ‘massive payment difficulties’ amid sanctions, according to a Swiss economic official.
Oil surges, with U.S. crude closing above $103 a barrel, as Russia intensifies attacks on Ukraine cities
Oil futures rally on Tuesday, with the U.S. benchmark up 8% to settle solidly above $100 a barrel, at a more than seven-year high.
Russia Scrambles to Maintain Oil Sales, Lifeblood of Economy
Refiners outside the country are balking at buying Russian oil, and banks are refusing to finance shipments of Russian commodities, fearing the impact of financial sanctions.
Shell’s New Finance Chief to Navigate Exit from Russia, Shift to More Renewables
Shell PLC’s incoming finance chief will face a host of issues, including writing off the oil giant’s Russian business, defending against an activist investor and allocating capital for a shift toward cleaner energy.
U.S., IEA Agree to Release 60 Million Barrels From Oil Stockpiles
The move by members of the International Energy Agency represents another coordinated effort to counter Russia amid its invasion of Ukraine as oil prices trade at eight-year highs.
Chevron Stock Is Surging. Shareholders May See $10 Billion in Buybacks.
At its annual investor day Tuesday, Chevron said it expects to see the return on capital employed rising to 12% by 2026 from 9.4% in 2021.
Petronas Fourth-Quarter Earnings Driven by Stronger Oil Prices, Lower Impairment
Petroliam Nasional Bhd., better known as Petronas, delivered solid earning for the fourth quarter, thanks to a strong recovery in crude oil prices and lower impairments on assets.
Why Does the U.S. Buy Russian Oil?
Despite being the top global producer, the U.S. uses Russian crude to service more-isolated coastal markets and keep refineries running at optimal levels.
At its annual investor day Tuesday, Chevron said it expects to see the return on capital employed rising to 12% by 2026 from 9.4% in 2021.
Petronas Fourth-Quarter Earnings Driven by Stronger Oil Prices, Lower Impairment
Petroliam Nasional Bhd., better known as Petronas, delivered solid earning for the fourth quarter, thanks to a strong recovery in crude oil prices and lower impairments on assets.
Why Does the U.S. Buy Russian Oil?
Despite being the top global producer, the U.S. uses Russian crude to service more-isolated coastal markets and keep refineries running at optimal levels.
(END) Dow Jones Newswires