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.

Nuclear's share of energy in the UK is currently about 16%, however almost half of the country's current capacity is due to be retired by 2025 and all but one of its reactors will retire by 2030.

While the US has already banned imports of Russian oil, gas and coal, it could escalate energy pressure through secondary sanctions on other countries that continue to import the supplies.

Our relations are a strategic partnership, even a specially privileged strategic partnership, as our Indian friends called it some time ago.

Acceleration of the energy transition is essential for long-term energy security, price stability and national resilience.

China will pursue its strategy to reduce the share of coal in its energy consumption, aiming to reach 17.3% of non-fossil energies in its total energy consumption in 2022, up from 16% in 2020.