Both the companies will work together in areas of blue and green hydrogen and various clean energy initiatives, according to a statement.

The Brent price will average $107/b in 2Q22 and $103/b in the second half of 2022, the average price to fall to $97/b in 2023.

The EU wants to combine faster deployment of renewables, greater energy savings, diversification of supplies from international partners and new tools to accelerate investment in a bid to replace coal, oil and natural gas from Russia following the country’s invasion of Ukraine.

The bloc should have at least 1,000 gigawatts of photovoltaics installed in the region by 2030 -- equivalent to roughly the world’s current capacity -- according to a joint letter signed by Austria, Belgium, Lithuania, Luxembourg and Spain to the bloc’s climate chief Frans Timmermans and Energy Commissioner Kadri Simson.

I believe we are in fact in the first global energy crisis, and this is affecting the oil markets, gas markets, electricity markets and coal markets. The world has never seen such an energy crisis.

Budapest does not support sanctions against Russian oil and gas and will not allow transit of weapons to Ukraine through its territory.

Preliminary production figures for March 2022 show an average daily production of 1 960 000 barrels of oil, NGL and condensate.

The presidents exchanged greetings on the 60th anniversary of diplomatic relations between the two countries marked this year and noted that Russia and Algeria enjoy steady and consistent development of friendly ties.

The Brent price will average $108/b in 2Q22 and $102/b in the second half of 2022 (2H22).

Russia's invasion has driven up the price of the oil, gas and grain it exports, providing it with a substantial windfall to fund its "special military operation" - now entering a new phase as Moscow focuses on the eastern Donbas region after failing to break Ukraine's defence of the capital Kyiv.

The Chinese oil group CNOOC is seeking to raise CNY28.1bn (US$4.4bn) in a share listing in Shanghai (China), offering CNY10.8/share (US$1.7/share).

For the first quarter 2022 results, the post-tax impact from impairment of non-current assets and additional charges (e.g. write-downs of receivable, expected credit losses, and onerous contracts) relating to Russia activities are expected to be $4 to $5 billion.

Vladimir Putin likely sees the global energy shortage and lack of energy security as an opportunity to advance Russia’s interests in Ukraine, knowing that Europe has no other choice than to buy their petroleum.

A viable renewable energy backstop to oil & gas production does not now exist to guarantee Americans cost-effective, reliable, and 24/7 energy availability

Novak is Russia's key negotiator in the OPEC+ group, which has resisted calls from consumers to increase production.