U.S. shale producer Pioneer Natural Resources Co. and industry group American Petroleum Institute (API) condemned Russia’s attack on Ukraine in separate releases on Feb. 24.

Russia launched an all-out invasion of Ukraine by land, air and sea in the biggest attack by one state against another in Europe since World War Two. In response, oil prices have hit their highest levels since 2014, exacerbated by concerns about disruptions to global energy supply.

“The borders and self-governance choices of sovereign nations must be respected. Russia has decided on a war of choice which will have negative impacts not only in Ukraine, but across the globe. We deplore the unnecessary loss of life this conflict will cause. Our prayers and support go out to the people of Ukraine,” Pioneer said in a company release on Feb. 24.

Headquartered in Dallas, Pioneer is a large independent oil and gas exploration and production company with operations in the Permian Basin, the largest U.S. shale field.

Hours after the attack on Feb. 24, U.S. President Joe Biden announced a new round of sanctions against Russia. During his speech, Biden also warned oil and gas companies not to “exploit this moment to hike their prices to raise profits.”  He added that the U.S. is working with other countries on a combined release of additional oil from global strategic crude reserves.

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In a statement on Feb. 24, the API, the largest lobbying organization for U.S. oil and gas drillers, pledged to do everything possible to minimize any impacts on U.S. consumers while also condemning the attack.

“API condemns Russia’s invasion into Ukraine, and American natural gas and oil producers have a critical role to play in supporting our European allies with access to a stable supply of reliable and affordable energy,” API President and CEO Mike Sommers said in the statement. 
 
“With both geopolitical tensions and energy costs rising, American energy leadership can serve as a stabilizing force while strengthening global energy security,” Sommers continued. “Our industry is committed to working with the administration to do everything possible to minimize any impacts on U.S. consumers while supporting our allies overseas.”

API was formed in 1919 as a standards-setting organization and has developed more than 700 standards to enhance operational and environmental safety, efficiency and sustainability. The group represents all segments of America’s natural gas and oil industry, which supports more than 11 million U.S. jobs, according to its release.

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