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Europe · MoscowKremlin spokesman Dmitry Peskov said Russia was preparing its response to Friday's move by the G7 and allies. The move was aimed at squeezing Moscow's energy revenues and reducing its ability to wage war. Former Russian president Dmitry Medvedev wrote on Telegram that the squeeze on Russian oil would lead to an "unimaginable" jump in world prices.See the Story
Kremlin says Western oil price cap will not hinder military operation in Ukraine
58% Right coverage: 12 sources
Europe · BudapestHungary abolishes petrol price caps after a fuel shortage led to "panic buying" Energy giant MOL blames the price limits. Prime Minister Viktor Orban's chief of staff blamed EU oil sanctions over Russia's invasion of Ukraine for the fuel problems. EU embargo on seaborne deliveries of Russian crude oil came into force on Monday.See the Story
Hungarian government scraps price cap on fuels as shortage worsens
50% Left coverage: 10 sources
Asia · Saudi ArabiaSaudi Arabia, the world's top oil exporter, cut the January official selling price (OSP) for its flagship Arab Light crude for Asian buyers to a 10-month low. The change was in line with market forecasts for a cut of about $2 a barrel. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known as OPEC+, on Sunday decided to keep unchanged their plan to cut production.See the Story
Saudi Arabia sets Jan Arab Light prices to Asia at 10-mth low
67% Center coverage: 3 sources
Latest News Stories
Oil and Gas SectorIt doesn't take much to get oil prices moving lower these days, thanks to shrinking liquidity that's sapped the life out of the market.See the Story
Oil Continues to Fall on Declining Liquidity
Oil and Gas SectorAbu Dhabi National Oil Company (ADNOC) is accelerating the operationalization of its board-mandated low-carbon growth strategy. Low Carbon Solutions and International Growth vertical will focus on renewable energy, clean hydrogen, and carbon capture and storage. Musabbeh Al Kaabi has been appointed Executive Director of the new vertical with effect from January 16, 2023.See the Story
ADNOC Expands With Low Carbon, International Growth Vertical
Oil and Gas SectorThe Electric Reliability Council of Texas (ERCOT) has announced a voluntary curtailment program. The program will allow large flexible customers, such as bitcoin mining facilities, to reduce their power use during periods of high demand. ERCOT noted that the program is temporary and completely voluntary until it establishes a long-term set of rules.See the Story
ERCOT Creates Voluntary Curtailment Program
EnQuest Picks New Non-Exec Chairman
IPAA Picks Elevation Resources Head As Chairman
Oil and Gas SectorSaudi Arabia plans to allocate more than a third of its current oil output to chemical production by 2030. The biggest crude exporter aims to convert 4 million barrels a day into higher-value products such as plastics and fertilizers. It will require huge investment in its petrochemicals facilities. The kingdom also wants to ensure there is demand for oil even if crude-buying nations reduce consumption.See the Story
Saudi Arabia Sharpens Petrochemicals Focus
Oil and Gas SectorUK and US will work together to increase energy security and drive down prices. New energy partnership signed by UK Prime Minister Rishi Sunak and US President Joe Biden. UK-US Energy Security and Affordability Partnership will drive work to reduce global dependence on Russian energy exports.See the Story
