They focused on tasks to further promote economic cooperation, including measures to improve the contractual legal framework, boost trade and use national currencies in transactions, as well as to ensure uninterrupted supplies of Russian energy.

They reaffirmed their mutual resolve to further strengthen the strategic partnership and alliance between the two countries, and to consistently implement concrete trade, economic and energy projects.

The European Commission has approved a €5bn French scheme to support energy-intensive companies that have been particularly hit by the recent increase in energy prices.

China spent $18.9 billion on Russian oil, gas and coal in the three months to the end of May, almost double the amount a year earlier, latest customs data show. Meanwhile, India shelled out $5.1 billion in the same period, more than five times the value of a year ago.

Many of our companies, including energy companies, are operating in Indonesia. There is interest in developing the national nuclear power industry.

The balance had now “tipped” in favour of an economic contraction next year in the US and Europe. “What used to be a rising risk has now turned into the base case.”

The Indonesian state-owned oil and natural gas company Pertamina released its results for 2021, posting a total revenue of US$57.5bn (+39% compared to 2020) and a profit of US$2.2bn

The plan includes increased reliance on coal-fired generation, an auction system to incentivise lower consumption in industry and €15bn in credit lines via the state-owned investment and development bank KfW for the country's gas market operators to fill gas storage facilities faster.

Preliminary production figures for May 2022 show an average daily production of 1 831 000 barrels of oil, NGL and condensate.

Just when it didn’t seem things couldn’t get worse — gasoline at $5 to $8 a gallon, supply shortages in everything from baby formula to new cars — comes the devastating news that many of us will endure electricity blackouts this summer.

Russian shipments through the Nord Stream pipeline to Germany are set to swing broadly on Tuesday, nominations show. The link is also scheduled to shut down July 11-21 for seasonal maintenance.

The Administration has actually recommended that people buy EVs to avoid increasing gasoline prices. The recent ban on imports of Russian oil will likely further increase gasoline prices, which have already doubled under the Administration.

In May 2022, Spain and Portugal created an extraordinary and temporary mechanism in Spain and Portugal to protect consumers from the rise in electricity prices,

The Brent price will average $108/b in the second half of 2022 (2H22) and then fall to $97/b in 2023.

Germany advised people to defrost their freezers regularly, change shower heads and switch office lighting to LEDs as the government tries to reduce a reliance on imported Russian energy that’s become a political liability.