Oil Price Cap May Widen Russia's 2023 Budget Deficit, Ministry Says
Moscow's acknowledgment was the clearest yet that the $60 per barrel cap, imposed on Dec. 5 by the Group of Seven, European Union and Australia with the aim of limiting Russia's ability to fund the military campaign, could indeed hit state finances.
Russia Overtakes Saudi Arabia as China's Top Crude Supplier in November
China's imports from Saudi Arabia totaled 1.61 MMbbl/d, down 11% compared to last year.
Kremlin: No Decision Yet on Nord Stream Gas Pipeline Repairs
The Kremlin weighed in on Canada’s plans to revoke a sanctions waiver that allowed turbines for Nord Stream 1, Russia's biggest gas pipeline to Europe.
Russia's Oil Exports Rose But its Revenue Fell Ahead of Price Cap
Lower global prices and steeper discounts for Russian oil meant Moscow's revenue fell by $700 million to $15.8 billion, the IEA said.
E&P Highlights: Dec. 12, 2022
Here’s a roundup of the latest E&P headlines, including discoveries and the signing of Brazilian concession contracts from the past week in the upstream oil and gas industry.
What's Affecting Oil Prices This Week? (Dec. 12, 2022)
OPEC member are experiencing supply issues, but they are being overshadowed by decreased Brent crude demand in the U.S., as well as global economy concerns, according to Stratas Advisors.
Putin Says Russia Could Cut Oil Production Over West's 'Stupid' Price Cap
Russia is the second largest oil exporter in the world after Saudi Arabia and the largest gas exporter.
TotalEnergies to Take $3.7 Billion Write-off on Novatek, Withdraw Directors
TotalEnergies announced it would also "no longer equity account for its 19.4% stake in Novatek," resulting in an impairment of around $3.7 billion in the fourth quarter.
Oil Gives Up the Year's Gains, Closing at 2022 Low
Prices plunged despite a decision by China, the world's biggest crude importer, to make sweeping changes to its anti-COVID regime.
G7 Russian Oil Price Cap Evolves From Revenue Squeeze to Market Anchor
Russian oil price cap could cause Moscow to curtail production, raising prices and potentially diminishing western support for Ukraine.