A senior Russian lawmaker said on Thursday that Moscow would take control of the Sakhalin-1 oil and gas project in which ExxonMobil, Japan's SODECO and India's ONGC Videsh are partners
Kazakh President Kassym-Jomart Tokayev on Thursday told his government to diversify its oil supply routes, a day after a Russian court ordered the Caspian Pipeline Consortium to suspend activity for 30 days
The European Union plans to become the top investor in the world's tallest dam in Tajikistan, in a move aimed at helping Central Asia cut its reliance on Russian energy
Caspian Pipeline Consortium (CPC), which takes oil from Kazakhstan to the Black Sea via one of the world's largest pipelines, has been told by a Russian court to suspend activity for 30 days
The United Arab Emirates is cutting red tape to make it easier and quicker for digital companies to incorporate, the latest economic policy announcement as the government seeks to further diversify the economy
The European Parliament on Wednesday backed EU rules labelling investments in gas and nuclear power plants as climate-friendly, throwing out an attempt to block the law that has exposed deep rifts between countries
By ASLA - Associazione degli Studi Legali Associati
Sao Paulo - The Brazilian government selected Gileno Gurjao Barreto on Thursday as its nominee to chair state-run oil giant Petrobras' board. The Mines and Energy Ministry also confirmed Caio Mario Paes de Andrade as its nominee to be Petrobras' chief executive
Kiev - Turkey said on Wednesday a United Nations plan to set up a sea corridor for Ukrainian grain exports overseen by Ankara was "reasonable," but required more talks with Moscow and Kyiv to ensure ships would be safe
The UK P&I Club, a leading provider of P&I insurance and other services to the international shipping community, announces its financial results for the year ended 20 February 2022. The Club’s financial position remains strong with free reserves of $488 million as at 20 February 2022
Iran's paramilitary Revolutionary Guard seized two Greek oil tankers on Friday, May 27, 2022, in helicopter-launched raids in the Persian Gulf, according to officials. The actions were an apparent retaliation for Athens assisting the U.S. in seizing Iranian crude oil in the Mediterranean Sea
Gerhard Schroeder has backed off from taking a top role at Russian energy giant Gazprom, dealing a setback to Germany's gas lobby as it seeks to keep the energy lifeline from Russia open. He played a critical role in establishing the energy bond between the countries
The conflict in Ukraine has throttled South Africa's citrus exports to Russia and driven input costs higher, further squeezing fruit producers already suffering from spiralling shipping costs, an industry body said
India has no immediate plans to lift a ban on wheat exports, but will continue with deals which are done directly with other governments, Commerce Minister Piyush Goyal told Reuters. The world's second biggest producer of wheat banned private overseas sales of the grain on May 14
Ukraine is seeking ways to get grain and vegetable oils out of the country by breaking a months-long blockade of the Sea of Azov and the Black Sea by the Russian navy and moving more by land. The war, together with Western sanctions against Russia, have sent prices soaring
Snam and Golar LNG Golar signed a contract through which Golar will deliver the existing LNG Carrier “Golar Arctic” as a floating storage and regasification unit (FSRU) that Snam will install in the port area of Portovesme
Germany plans to work with Senegal on the development of an offshore gas field amid the severe impact the war in Ukraine is having on global energy supply and prices. The update came as the German Chancellor Olaf Scholz this weekend started his tour of several African nations
U.S. sportswear maker Nike has not renewed agreements with its largest franchisee in Russia, the Vedomosti daily reported on Wednesday, marking the latest exit by a major U.S. brand since Russian forces entered Ukraine
After making it through the spring planting season, sometimes with the help of bulletproof vests and helmets, Ukraine's farmers are facing another challenge - finding enough diesel for the harvest to come
Jakarta - Indonesia, the world's biggest palm oil exporter, has since April 28 halted shipments of the edible oil in a bid to flood the domestic market with supplies to control the soaring prices of cooking oil
Ethiopia and the World Bank have signed a pact for a grant of $300 million to assist reconstruction and recovery in conflict-hit areas, the finance ministry said. Fighting that erupted in the northern region of Tigray in November 2020
Iraq's oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oilfields and led to an exodus of international oil majors that Baghdad wants to invest in its creaking economy
Russia, one of the world's largest wheat exporters, will increase wheat exports this year due to a potentially record harvest, President Vladimir Putin said on Thursday. Russia competes with the European Union and Ukraine for supplies of wheat to the Middle East and Africa
Beirut - The Lebanese government has issued licences to 11 companies to construct solar power plants capable of producing 15 megawatts each, energy minister Walid Fayyad said on Thursday. The companies would have a year to secure funding
The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, in a U-turn after it predicted a possible "global supply shock" in March
Germany's economy ministry will provide details on alternatives to some Russian gas import volumes later on Thursday, Economy Minister Robert Habeck said, after subsidiaries of a large player, state-supervised Gazprom Germania, have become subject to Russian sanctions
Bulgaria will receive U.S. liquefied natural gas (LNG) supplies from June to help it after Russia's Gazprom cut off gas deliveries, the government said on Wednesday. The arrangement was agreed at a meeting between Prime Minister Kiril Petkov and U.S. Vice President Kamala Harris in Washington
Russian gas flows to Europe via Ukraine fell by a quarter on Wednesday after Kiev halted use of a major transit route blaming interference by occupying Russian forces, the first time exports via Ukraine have been disrupted since the conflict began
Rising fuel and food prices look set to stoke an "inevitable" rise in civil unrest, with developing middle-income countries such as Brazil or Egypt particularly at risk, a report by a risk consultancy said. Three quarters of nations expected to be at high-risk or extreme risk of civil unrest
India exported a record 1.4 million tonnes of wheat in April, four trade sources said, providing some relief to grain markets as buyers scramble for alternatives to Black Sea supplies hit hard by the war in Ukraine
A Maltese-flagged ship carrying Russian coal and petroleum coke has docked in the northern Spanish port of Gijon, port authorities said on Monday. Another Maltese-flagged ship, loaded with Russian crude, docked in Cartagena, southern Spain, on Friday, authorities confirmed
Two tugboats have moved a vast array of 12,000 solar panels, the size of four soccer pitches, to their mooring on Portugal's Alqueva reservoir in preparation to start up Europe's largest floating solar park in July
Blue tungsten winking from the walls of abandoned mine shafts, in a town that's seen better days, could be a catalyst for South Korea's bid to break China's dominance of critical minerals and stake its claim to the raw materials of the future
Ukraine has imposed temporary restrictions on the supply of grain cargoes by rail in the direction of Moldova and Romania due to a large number of wagons at border crossings, the APK-Infrom consultancy said on Friday
Zimbabwe expects its harvest of staple white maize grain to fall by almost half this year due to poor rainfall in the 2021/22 growing season, but still has enough buffer stocks following a record harvest the previous year
Germany has started filling the huge Rehden gas storage facility abandoned by Russia's Gazprom, the site's state-appointed manager said on Thursday, as Europe's biggest economy looks to guard against the risk of Moscow turning off supplies
The European Union has proposed a phased embargo of Russian oil but could find it tricky to implement, given Europe's complex distribution network and challenges in tracking crude once it is blended or refined
Tokyo - Japan would face "difficulty" to immediately follow a move to cut off Russian oil imports over the invasion of Ukraine, its minister of economy, trade, and industry Koichi Hagiuda said on Thursday. Hagiuda made the remark during a visit to Washington
Financial institutions face losses of at least $225 billion from risks related to water, with a third of them doing nothing to assess the potential impact, a report by leading environmental disclosure platform CDP and Planet Tracker estimates
Mexico will increase production of staple foods such as corn, rice and beans as part of a plan agreed with business leaders to control consumer price inflation which is at a two-decade high, Finance Minister Rogelio Ramirez said on Wednesday
Seoul - POSCO plans to expand its oxygen and nitrogen storage facilities to explore the industrial gas market in earnest. Korea’s top steelmaker broke ground on its oxygen factory in Pohang on Wednesday to build additional gas tanks
The EU said on Thursday buyers of Russian gas could avoid breaching sanctions if they declare purchases complete when they have paid in euros or dollars, but there may be no workaround if Moscow insists they also use a rouble account for the transaction
The consortium Green Fuel Alliance is led by EDF Renewables, a global player in renewable energy, and the UAE-based Zero Waste, a company specialized in developing projects in the Egyptian oil & gas, and power generation industries
Uniper will transfer payments for Russian gas to a Russian bank and no longer to a Europe-based bank, the German power utility told newspaper Rheinische Post on Thursday: "The plan is to make our payments in euros to an account in Russia," the daily paper cited a Uniper spokesperson as saying.
The European Commission proposed on Wednesday a one-year suspension of import duties on all Ukrainian goods not covered by an existing free trade deal to help the country's economy during the war with Russia
Indonesia widened the scope of its export ban on raw materials for cooking oil to include crude and refined palm oil, among other products, its chief economic minister said on Wednesday, leaving markets in shock over the latest policy reversal
Russia's Gazprom has halted gas supplies to Bulgaria and Poland, reviving European supply concerns as Russia and the West clash over Moscow's demand for payments in roubles. Poland and Bulgaria have long-term gas deals with Gazprom that expire at the end of the year
German climate activists turned off crude oil pipelines at five locations on Wednesday, demanding the country look for other ways to reduce its dependence on Russian gas than starting new fossil fuel-based infrastructure projects such as deep-sea drilling
Oslo - Norway's Vaar Energi is currently producing as much natural gas as it can, and does not foresee a further increase in output in the short term, its chief executive told reporters on Wednesday. At the moment, the company directs as much gas as possible to the European continent
Athens - Greece will offer help to Bulgaria after Russia cut off its gas supply, Prime Minister Kyriakos Mitsotakis told his Bulgarian counterpart on Wednesday. The two leaders discussed the issue by phone
Samsung Electronics plans to join as soon as next month a group of global corporations committed to 100% renewable energy, a person familiar with the matter said, as partners such as Apple Inc push it for action against climate change
European companies may be able to work around Russia's demand to receive gas payments in roubles without breaching sanctions if they pay in euros or dollars which are then converted into the Russian currency, the European Commission said on Friday
The Association of Banks in Lebanon said on Saturday it "completely rejects" the government’s latest draft of a financial recovery plan meant to pull the country out of an economic meltdown. The ABL called the plan "disastrous"
Nigerian billionaire Aliko Dangote said on Friday his 650,000 barrel per day oil refinery is expected to be commissioned next year, before President Muhammadu Buhari's presidential term comes to an end
Russian miner Petropavlovsk has applied for a new export licence, it said on Friday, seeking a fresh lease of life after it was prohibited from selling gold to sanction-hit Gazprombank, the only buyer of its output
Moscow - Energy giant Shell is in talks with some Chinese companies to sell its stake in a major Russian gas project amid sanctions imposed on Moscow over its invasion of Ukraine. The London-listed company is in joint talks with Chinese state-run oil companies
Compared with the previous quarter, as other major economies are measured, growth slowed to 1.3% from 1.4%
The title of the 2022 edition will be "The new horizons of energy / Shipping and the need to adapt to the international scenario"
Germany would face a sharp recession if gas supplies from Russia are suddenly cut off, the country's leading economic institutes said on Wednesday, and the government said the war in Ukraine poses "substantial risks" for Europe's largest economy
London - Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases following Moscow's invasion of Ukraine, but the European Union remains divided. The bloc's 27 members have been unable to agree on an embargo
By ASLA - Associazione degli Studi Legali Associati
"We are working every day to create the preconditions and the steps toward an embargo," Habeck said during a news conference on Monday, adding that this approach "harms Putin daily"
For more than a year now, the main concern of shipowners, after the enormous difficulties that put a large number of historic players out of business in the last decade, has been the lack of hold capacity
“The marine pollution due to accidental causes, particularly the spillage of hydrocarbons into the sea, represents a dangerous threat and can have devastating environmental, social and economic consequences”
On Wednesday Britain put in place new legal powers to prohibit maintenance on aircraft and ships belonging to specifics anctioned Russian oligarchs or their businesses
The "Argo FSRU" project in Volos port, developed by Mediterranean Gas, has been greenlighted by Greece’s Regulatory Authority for Energy (RAE). Mediterranean Gas, a Greek energy utility company that is behind the project, that has the ambition to become the LNG and energy hub
Companies exiting Russia due to the war in Ukraine are welcome to move production to Kazakhstan, the country's deputy foreign minister told a German newspaper, saying Kazakhstan would not want to be on the wrong side of a new "iron curtain"
Abu Dhabi's Mubadala Investment Company is pausing investments in Russia, which represent less than 1% of its portfolio, because of the Ukraine crisis, the chief executive of the $243 billion sovereign wealth fund said on Monday
Oil producers who felt like outcasts at the COP 26 climate conference last year are now being treated like superheroes because their supplies are in strong demand, UAE energy minister Suhail al-Mazrouei said on Monday at an industry event
Italy is looking to install two floating storage and regasification units (FSRU) to boost liquefied natural gas (LNG) imports as part of plans to cut reliance on Russian gas, Italy's energy transition minister said on Tuesday
Ankara - Natural gas cooperation is among the most important steps Turkey and Israel can take amid a bid to repair ties and Israeli Prime Minister Naftali Bennett could visit Turkey, President Tayyip Erdogan was cited as saying on Friday
The United States will work to supply 15 billion cubic metres (bcm) of liquefied natural gas (LNG) to European Union markets this year, as Europe seeks to wean itself off Russian gas supplies, the transatlantic partners said on Friday
The world may be less dependent on oil now than it was during the energy shocks of the 1970s, but the Ukraine conflict is stark evidence of a stubborn craving that can still disrupt economies, confound policymakers and spark political strife
Germany's economy ministry wants to halve the country's dependence on Russian oil by the summer and have no Russian hard coal imports by the autumn, it' said in a ministry memo. The move comes as Western nations aim to present a united front against Russia
“The MSC Group will enter Moby with a minority shareholding "
The European Union will distribute 500 million euros ($550 million) to help farmers and allow them to grow crops on fallow land to mitigate food price spikes and potential shortages resulting from Russia's war in Ukraine
Seoul - At age 69, Kim Jung-mi holds three jobs: she spends three hours getting a two-year old home from kindergarten every weekday for $9 per hour, then washes vegetables at a store that sells kimchi. Occasionally, she walks her neighbour's dog
China's top economic planner announced a target on Wednesday to produce up to 200,000 tonnes per year of green hydrogen, a zero-carbon fuel generated from renewable energy sources, by 2025, but envisions a more widespread industry over the long term
Mexico City - Flaring by the energy sector in Mexico hit record levels last year while the number of sites where gas is burnt off also rose despite government pledges to reduce such activity, research by a leading team of scientists showed
Brussels - Leaders from European Union countries will agree at a summit this week to jointly purchase gas, liquefied natural gas and hydrogen ahead of next winter, according to a draft of their summit statement
South Africa's Thungela Resources said on Tuesday it had seen increased demand for thermal coal from Europe as the war in Ukraine dents supply, but rail logistics constraints in South Africa continue to limit its capacity to export
British Prime Minister Boris Johnson will meet with nuclear industry leaders on Monday to discuss how to accelerate the launch of new plants ahead of an energy security strategy to be released before the end of the month
The next stage of the project previews a further activity exploiting advanced digitalization customs tools with the direct involvement of Italian and Turkish Customs and Monopolies Agencies
P&O, which has almost 4,000 employees and operates more than 30,000 sailings a year, said it had lost 100 million pounds ($131 million) year-on-year and the business was no longer viable in its current form.
Global commodity markets will need to adapt to a lack of supply from Russia and Ukraine, global trader Glencore said in its annual report on Wednesday: "Over time, global commodity trade flows will need to adapt to some or all of Russian/Ukrainian supply being unavailable"
Paris is prepared to loosen its grip on Corsica in a process that could lead to a yet-to-be decided autonomous status for the island, France's interior minister was quoted by a Corsican newspaper as saying ahead of a visit on Wednesday
London - The International Association of Classification Societies (IACS) Council has agreed to exclude the Russian Maritime Register of Shipping (RMRS) from the IACS membership, “following the recent (…) developments in Ukraine"
The European Union formally approved on Tuesday a new barrage of sanctions against Russia for its invasion of Ukraine, which include bans on investments in the Russian energy sector, luxury goods exports and imports of steel products from Russia
UniCredit is urgently reviewing its Russian business and could decide on a costly exit of the country after its invasion of Ukraine, the Italian bank's CEO said on Tuesday, as markets watch for a payment on Russian sovereign debt
Belgium's Solvay will split into two independent public companies in 2023 focussed on chemicals and the other on specialty materials and solutions, it said in a statement on Tuesday. Solvay reported record profits for 2021 in February
"Russia is offering oil and other commodities at a heavy discount. We will be happy to take that. We have some issues like tanker, insurance cover and oil blends to be resolved. Onc ewe have that we will take the discount offer," one of the Indian government officials said
Ukrainian authorities said there are plans for several evacuation and humanitarian aid delivery routes. The top priority remains freeing people from the city of Mariupol and getting aid to its desperate population
President Vladimir Putin is an "aggressor, the aggressor," Biden said, and he must "pay a price."
"These measures are a logical response to those imposed against Russia and are aimed at ensuring uninterrupted functioning of key sectors of the economy," the economy ministry said
Last week a seafarer was killed at the Ukrainian port of Olvia after his cargo ship was hit by a missile
The announcement followed a U.S. ban on imports of Russian oil, the latest in a series of sanctions designed to punish Russia for the war in Ukraine
The EU also banned exports of maritime technology to Russia and sought to prevent crypto assets being used to circumvent the sanctions
Rutte made the comments to reporters, while on a visit to Paris, where he will meet French President Emmanuel Macron
Some of Usmanov's investments in U.S. and Chinese tech companies have been made through Yuri Milner’s DST and his own company USM, according to media reports.
Biden, who has pledged that U.S. soldiers will not go to Ukraine to fight, voiced America's support for the Ukrainian people, and predicted their ultimate victory
