EU energy ministers gathering in Prague on Wednesday will consider that model, which has already been adopted by Spain and Portugal, allowing consumers to avoid the worst of the price surges.

The net profit amounted to RUB 2.514 trillion, which not only marks a 2.6-fold increase against the amount recorded in the first half of 2021 but also exceeds the total profit of the Gazprom Group for the two previous calendar years!

Preliminary production figures for August 2022 show an average daily production of 1 998 000 barrels of oil, NGL and condensate.

Benchmark futures jumped as much as 10% for a second day of gains. In the latest move to ensure supply, Germany said it will nationalize Uniper SE and avert a collapse of the energy sector with winter just days away.

G7 countries have also agreed to finalize a price cap for Russian crude. The US Treasury has indicated that three separate price caps will be introduced -- for crude, high-value refined products and low-value refined products.

Benchmark prices dropped as much as 8.8% on Monday, extending last week’s decline. Germany, the U.K. and others plan to spend billions to ease their reliance on Russian imports, rescue local energy companies, and cap prices to alleviate pressures on businesses and households.

Benchmark futures fell as much as 9.6%, following extreme volatility this month. Rising gas stockpiles and ample supplies of liquefied natural gas have pulled prices back from August records, but they’re still more than seven times higher than the typical levels for this time of year.

The Russian-Chinese interstate interaction can be regarded as a model. The foreign policy tandem of Moscow and Beijing plays a key role in ensuring global and regional stability.

Following the talks, both presidents signed a declaration on comprehensive strategic partnership between the Russian Federation and the Republic of Uzbekistan.

We can state that the level of strategic partnership that has been attained and outlined in relevant documents is present not only on paper, but in real life as well.

Benchmark futures jumped as much as 12%. The European Commission’s radical intervention plan includes raising 140 billion euros ($140 billion) for consumers from energy companies’ earnings, as also mandatory curb on peak power demand and boosting liquidity.

The plan is expected to raise €140bn, including €117bn from the temporary revenue cap on inframarginal electricity producers and €25bn from the temporary solidarity contribution based on taxable surplus profits made in the fiscal year 2022 on energy undertakings in the oil, gas, coal and refinery sectors

The risks of shortages drove gas prices higher for a third day. The European Commission this week unveiled radical intervention plan including raising 140 billion euros ($140 billion) for consumers from energy companies’ earnings, mandatory curb on peak power demand and boosting liquidity.

Digital transformation in oil and gas is more of a transformation problem than it is a digital one. Many executives are hesitant to invest heavily in digital transformation but continue to be hampered by the cost of poor quality.

The developed nations of Europe and the UK have played into the hands of Russia by closing coal and nuclear generation facilities and becoming dependent on renewables and Russian natural gas, rather than developing their own natural gas reserves.