Despite the high discount on Russia's Ural oil premium and sanctions .It seems that the rise in oil prices will eventually lead to the growth of Russia's foreign exchange earnings in 2022 and the improvement of its foreign exchange reserves, which is contrary to the goals of Western sanctions and USA.

The Brent price will average $117/b in March, $116/b in 2Q22, and $102/b in the second half of 2022 (2H22). We expect the average price to fall to $89/b in 2023.

But events in Europe may cause a rethink about natural gas, both as a transition fuel in the United States and a foreign policy tool.

Russian hackers, which are often linked to the state, are believed responsible for the Colonial Pipeline hack last spring that sent the eastern U.S. into a fuel frenzy.

On March 1, the U.S. Department of Energy committed to releasing 30 million barrels of crude oil from the U.S. Strategic Petroleum Reserve (SPR) to ensure an adequate supply of petroleum in response to Russia’s further invasion of Ukraine.

Combined, solar and wind grew by 15.96% and accounted for more than one-eighth (13.05%) of U.S. electrical generation (wind - 9.12%, solar - 3.93%).

The Worldwide Rig Count for February was 1,669, up 37 from the 1,632 counted in January 2022,and up 399 from the 1,270 counted in February 2021.

U.S. Rig Count is unchanged from last week at 650, Canada Rig Count is down 7 from last week to 217.

Brent rose at $111.19, WTI rose $1.21, or 1.1%, to $108.88.

During the conversation, it was noted with satisfaction that OPEC+ member countries are consistently fulfilling their obligations to help ensure stability on the global oil market. Russia and Saudi Arabia will continue to coordinate approaches within this format.

he initial release of 60 mbl accounts for 4% of those stockpiles (1.5 Gbl) and would represent 2 mbl/d for 30 days

The Northeast Asia thermal coal price assessment 5,750 NAR rose $28.23 on the session to $248.63/mt.

The proposed measures are fully consistent with the EU's European Green Deal and Fit for 55, and pave the way for further emissions reductions in the years to come, the IEA said.

The executive order mandates the Department of Energy (DOE) to develop and implement the Nuclear Energy Programme as part of the Philippine Energy Plan,

ExxonMobil operates the Sakhalin-1 project on behalf of an international consortium of Japanese, Indian and Russian companies.