While many Western buyers are avoiding Russian crude in response to its invasion of Ukraine, Indian private refiners such as Reliance and Nayara have been among the biggest buyers this year of discounted Russian supplies.

The Brent contract for July delivery expired on Tuesday at $122.84 a barrel, up 1%, WTI rose 37 cents, or 0.3%, to $115.04 a barrel.

Gas exports to the countries beyond the FSU amounted to 61 billion cubic meters, which is 27.6 per cent (or 23.2 billion cubic meters) lower than the figure for the same period of 2021.

Gazprom completely suspends gas supplies to Shell Energy Europe Limited due to failure to pay in rubles

Gazprom completely suspends gas supplies to Denmark’s Orsted Salg & Service A/S due to failure to pay in rubles

Средняя цена на нефть марки Urals в январе-мае 2022 года сложилась в размере $83,48 за баррель, в январе-мае 2021 года - $61,62 за баррель.

The forecast AUD113 million (USD81 million) capital cost of the development (including contingency) of the Honeymoon project is fully-funded,

Hinkley Point B started operations in 1976 and, in 2012, the estimated end of its generation was extended to 2023, with a +/- 2 years proviso.

The price of OPEC basket of thirteen crudes stood at $122.94 a barrel on Tuesday,

Another group of officials, many based at Janet Yellen’s Treasury Department, worry about further strains on a global economy already suffering from supply-chain woes, inflation, volatile oil prices and a potential food crisis.

Meanwhile those with spare capacity – primarily Saudi Arabia and the UAE – have held off on breaching their quotas to maintain OPEC+ unity rather than spark a market share battle.

Brent was down $2.07, or 1.8%, at $114.22 a barrel, WTI dropped $2.21, or 1.9%, to $113.05 a barrel.

U.S. commercial crude oil inventories decreased by 5.1 million barrels to 414.7 million barrels.

China annual power generation from renewable energy sources will reach 3.3 trillion kWh by 2025.

Therefore, July production will be adjusted upward by 0.648 mb/d as per the attached schedule.

The price of OPEC basket of thirteen crudes stood at $114.62 a barrel on Thursday,

Israel’s proven gas reserves are very large, at a current estimated level of about 538 bcm (end of 2021). Production increased very rapidly from 2.5 bcm in 2012 to almost 13 bcm in 2020 (+23%/year on average, including +45% in 2020).

India imported 54% of its oil needs and 56% of its gas needs in 2020. After coal (44%), oil represented 24% of the country’s total consumption in 2020, against 6% for natural gas. As of 2021, India's oil reserves are estimated at 4,530 mbl and its gas reserves at 1,372 bcm.

Asia is expected to account for about 40% of global incremental crude runs in 2022, with the US and Europe accounting for about 30% and 18%, respectively.

"The EU's decisions to partially phase out Russian oil and oil products, as well as to ban the insurance of Russian merchant ships, are highly likely to provoke further price increases, destabilize energy markets, and disrupt supply chains," the Russian Foreign Ministry said in a statement.