The conference is taking place amid massive gyrations in global energy markets following Russia’s invasion of Ukraine, with uncertainty over the future of Russian exports triggering big rallies in the price of oil and natural gas.
government needs to be able to work closely with producers to avoid what could become an emergency if the situation in Ukraine persists for another few weeks, Yergin said in a Bloomberg TV interview.
Mike Sommers, the chief executive officer of the American Petroleum Institute, said the industry is using a higher percentage of federal onshore and offshore leases than at any time in the past, and it’s continuing to increase production.
Even without explicit sanctions “de facto it’s impossible to buy Russian products” because banks won’t supply letters of credit and insurers are unwilling to cover cargoes, he says.
Hackers gained access in mid-February to computers belonging to current and former employees at almost two dozen major natural gas suppliers and exporters, including Chevron Corp., Cheniere Energy Inc.
The motive of the operation isn’t known, but the timing coincides with broader changes in the energy industry that have been accelerated by Russia’s war.
Cheniere Energy Inc., the largest U.S.
Total’s traders won’t be buying Russian oil anymore and most of its refineries will find alternative sources of crude, Pouyanne said.
EQT Corp., the largest producer of natural gas in the U.S.
While news that the While House is weighing a ban on crude imports from Russia is certainly a “recognition” from the Biden administration that U.S.
“We need to build those pipelines faster and LNG facilities faster than we’ve ever done in the past,” Rice said.
Woods warned of “unintended consequences” of forcing oil and gas companies to reduce the the broadest measures of greenhouse gas emissions.
“The world doesn’t stand still,” Yergin said during his introduction of the day’s first speaker, former U.S.
— TeraWulf Inc., a cryptocurrency miner that aims to be more environmentally friendly than peers, on Monday closed down 17% after paring a steeper decline that was the most since its reverse merger in December.Most Read from BloombergUkraine Update: Russian Official Threatens Europe Gas PipelineChina Warns U.S.
Bulgaria supports sanctions on Russia as a means to halting its invasion of Ukraine, but will likely seek an exception on banning Russian natural gas and oil imports if such a proposal is put forward, Prime Minister Kiril Petkov said on Monday.
Mike Farnworth told a news conference Monday gas prices are driven by events outside of provincial control, such as the Russian invasion of Ukraine, which has upset energy markets around the world.
— Chicago wheat settled at the highest price on record as Russia’s intensifying war in Ukraine cuts off supplies from one of the world’s leading breadbaskets.
Against Forming Pacific NATO and Backing TaiwanStakes Rise as Putin Says His War in Ukraine Will ContinueUkraine Update: U.S.
— Some holders of a $1.3 billion Gazprom PJSC bond due Monday said they were fully repaid in dollars, two days after Russian President Vladimir Putin gave issuers the option of paying back foreign-currency debt in rubles.Most Read from BloombergUkraine Update: Russian Official Threatens Europe Gas PipelineChina Warns U.S.
Apple Inc will likely announce a new low-cost version of its iPhone SE with 5G capabilities at its annual spring product launch event on Tuesday, analysts say.
The price of oil, one of Canada’s major exports, spiked to its highest level since 2008 at $130.50 a barrel before paring gains, as the United States and European allies considered banning Russian oil imports.
— In mid-February, hackers gained access to computers belonging to current and former employees at nearly two dozen major natural gas suppliers and exporters, including Chevron Corp., Cheniere Energy Inc.
Air travel is not exactly back to normal, but by the end of the year, it’ll be relatively closer to 2019 levels, and by then, the airline stock discount might be gone.
European stocks ended off session lows on Monday, helped by a 4.3% rally in energy stocks as oil prices rose above $130 a barrel, but inflation fears amid the Russia-Ukraine conflict saw German and Italian shares confirm a bear market.