Russia
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Fresh restrictions will likely impact raw material markets globally as the EU and others attempt to squeeze the Russian economy following its invasion of Ukraine. -
The White House has made its latest move against Russian oil and gas interests as it acknowledged that its European partners are not able to take such drastic steps.
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The largest US oil and gas company is ending its 25-year presence in Russia following its invasion of Ukraine and subsequent international sanctions.
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A week after its certification was halted, the company managing the Gazprom-operated pipeline has let go its staff and says its website has been attacked.
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The 31-member group approved its fourth coordinated release since 1974 in response to the looming supply disruptions caused by Russia's invasion of Ukraine.
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The European energy sector is redrawing its energy map as BP, Shell, and Equinor announce plans to pull out of Russia. The moves will result in many billions of dollars in writeoffs.
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Sanctions imposed on Russia spare the oil and gas industry because US elected leaders fear voter outrage over higher prices and short supplies.
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The US Energy Information Administration said the US, Qatar, and Russia fed well over half of Europe’s supply of LNG last year.
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The pipeline project was completed in September but whether it will flow is now as uncertain as ever as both Germany and the US seek to shut the project down.
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The alliance ratified another modest daily production increase of 400,000 barrels.
