Economics

Gazprom in talks with Hungary's MOL over NIS stake sale

The United States announced sweeping sanctions targeting Russia's oil sector in January over Moscow's war in Ukraine, but, for NIS, their application was postponed several times before finally coming into effect on October 8.

Glencore buys majority stake in Dutch fuel company FincoEnergies

Finco is a major player in the Dutch wholesale fuel market and in the region's biofuels and low-carbon fuel sectors.

Ford takes $19.5-B writedown on EV business

bp picks first outsider CEO Meg O'Neill after abrupt Auchincloss exit

O'Neill, who will take over in April following the abrupt exit of Murray Auchincloss, becomes bp's first external CEO in its more than century-long history and the first woman to lead any of the world's top five oil majors.

Phillips 66 announces $2.4-B capital budget for 2026

OQ courts other partners for petrochemical complex in Oman as SABIC drops out

Cuba on edge as U.S. seizure of oil tanker puts supply at risk

A U.S. move this week to seize an oil tanker out of Venezuela is poised to make a bad situation worse for a crisis-stricken Cuba already struggling to source enough oil to power its ailing economy and electrical grid.

India imports more Russian crude, but mix of buyers shifts

While the South Asian nation's appetite for Russian crude has not been diminished by the U.S. sanctions against top Russian producers Lukoil and Rosneft, what has changed is the mix of buyers.

Five mega-trends reshaping the global energy and resources landscape in 2025

Opinion: Trump sanctions on Lukoil, Rosneft could reshuffle global oil map

When President Donald Trump in October slapped sanctions on Rosneft and Lukoil, which together account directly or indirectly for around two-thirds of Russia’s oil exports, the U.S. struck at the core of the Kremlin’s revenue base.