sanctions

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.

Sanctions imposed on Russia spare the oil and gas industry because US elected leaders fear voter outrage over higher prices and short supplies.

The Nord Stream 2 consortium is laying pipe in Danish waters despite US sanctions. A deal is anticipated that will allow the pipeline to be built if Germany defends Ukraine’s interests as a transit state for Russian gas.

Europe’s gas pipeline wars are in a muddle as the US throws its support to the EastMed project to supply Israeli gas to Italy, transiting Greece and Cyprus; while at the same time the US is sanctioning the Russian-German Nord Stream 2 pipeline, which is already 90% complete.

US sanctions appear to have prompted a change in ownership. It is unclear how the new arrangement will impact Venezuela’s diminishing ability to export crude oil.

The recent production freefall could accelerate even further as US sanctions-related deadlines pass, the US Energy Information Administration said.

The US re-imposing sanctions on Iran has prompted Total to consider dropping its stake in a project designed to bolster output from the world’s largest gas field.

The new US sanctions against Russia will place added restrictions on international companies taking part in oil development projects with Russian companies and raise doubts about Russia’s plans to expand pipeline exports.

With Iran re-entering the global oil market, this article looks at the state of Iran's oil industry, the condition of its fields, its use of technology, and its present and future production potential.

Russian oil production has remained on a growth path despite the plunge in oil prices because producers have built their business on producing oil for less than USD 30/bbl.