Russia Bans Western Investors from Selling Banking, Key Energy Stakes
On Aug. 4 , before the ban, Exxon Mobil said it has made significant progress exiting the Sakhalin-1 venture and that the pull out is a complex process.
Russia’s Gazprom to Get 50% of Replacement for Sakhalin-2 LNG Project
The decree said that Gazprom will get just over a 50% stake and the remaining 49.99% will be held by the new company itself until after existing Sakhalin-2 shareholders apply for a stake which they should do within a month, or by early September.
Energy A&D Transactions from the Week of Aug. 3, 2022
Here’s a snapshot of recent energy deals including Diversified Energy’s acquisition of ConocoPhillips Midcon assets for $240 million and the sale of Baker Hughes’ Russian oilfield services business.
'The Turbine Works': Germany's Scholz Points Finger at Russia in Energy Row
German Chancellor Olaf Scholz insists that Russia's Nord Stream 1 turbine, currently being stored in Germany, is functional and ready to be shipped back to Russia.
E&P Highlights: Aug. 1, 2022
Here’s a roundup of the latest E&P headlines including company updates from the past week in the upstream oil and gas industry.
Baker Hughes in Deal to Sell Russian OFS Unit
A local management team agreed to buy out Baker Hughes’ oilfield services (OFS) business in Russia for undisclosed terms, according to an Aug. 1 release from the Houston-based company.
Russia-EU Gas Flows Via Nord Stream, Ukraine Remain Steady
Flows from Russia to Europe through the Nord Stream pipeline remained steady on July 27 after flow was reduced to 20% of its capacity earlier in the week.
Russia Cuts Gas Flows Further as Europe Makes Savings Plea
Russia has cut its European gas delivery to a fifth of the Nord Stream 1 pipeline's capacity, prompting European nations to consider conserving gas.
Why Putin Brought a Gas Pipeline to a Knife Fight
Squeezing the European natural gas supply with winter approaching is a tactic in Russia’s war with Ukraine, but the global consequences could mean a resurgence of coal.
Nord Stream 1 Turbine Not Arrived Yet, A Second Has Defects
Former Russian President Dmitry Medvedev warned European nations that they could face serious energy price hikes if they continue cutting their reliance on Russian oil and gas.