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Kremlin-owned gas giant Gazprom said on Thursday it plunged to a net loss of 629 billion rubles ($6.9 billion) in 2023, its first annual loss in more than 20 years, amid dwindling gas trade with Europe, once its main sales market. The results highlight the dramatic decline of Gazprom, which since the collapse of the Soviet Union has been one of Russia’s most powerful companies, often used as a leverage to solve disputes with its neighbors, such as Ukraine and Moldova. Analysts had expected net income of 447 billion rubles, according to Interfax news agency. According to Reuters analysis, it...

Just as Russia had started to bring back some refinery capacity damaged by Ukrainian drone attacks earlier this year, a new wave of drone attacks hit a major refinery owned by Rosneft, for a second time.Rosneft’s Ryazan refinery southeast of Moscow caught fire after the overnight drone attack, an anonymous Ukrainian military source with knowledge of the situation told Bloomberg News on Wednesday.The refinery in the region of Ryazan, whose main city of the same name is some 120 miles southeast of Moscow, was first attacked by drones in the middle of March. The first attack also led to a...

UKRAINE has blitzed another major Russian oil refinery in a kamikaze drone strike, the explosions sparking a huge inferno near Moscow. Dramatic video from the scene showed flames raging from the Rosneft energy giant facility in the city of Ryazan on Wednesday. Residents of Ryazan, located 125 miles southeast of Moscow, were said to have heard the rumble of drones about 3am. Two explosions followed the sound, triggering the inferno. The attack came after another Ukrainian strike on two oil refineries in Krasnodar region -snip- Meanwhile, Vladimir Putin’s defence minister Sergei Shoigu demanded more "means of destruction" as Western supplies...

France's Economy Minister Bruno Le Maire announcing electricity rate increases... Production at Libya's largest oil field resuming... Two US Navy SEALS presumed dead after going missing... Florida Governor Ron DeSantis suspending his Presidential campaign endorsing President Donald Trump... The Russian military in Syria says that two French fighter jets of the US-led international coalition violated Syrian airspace... A flight radar website showing a US Navy aircraft near Crimea during a Ukrainian attack... Here in the United States a federal judge has released the last of four people...accused of terrorism...ordered release of three others in the case last year saying they...

The Biden administration Friday rolled out three decisions aimed at greatly restricting oil and gas drilling, as well as mining activities needed for renewable energy, on public land. The decisions include shutting down the Ambler Access Road project, which would have opened up part of Alaska to mining needed for renewable energy, and blocking oil and gas drilling on up to 13 million acres of the National Petroleum Reserve-Alaska. Conservation Leases The third action the Interior Department took Friday was the finalizing of the Public Lands Rule. According to a statement from the Department of the Interior, the rule is...

Alaska’s more than 730,000 residents have suffered from more environmental meddling from Washington bureaucrats than those in any other state in the country. Last week, the Biden administration celebrated “Earth Day” early by announcing it will unilaterally rope off millions of acres across Alaska from development and other local uses. On Friday, the Department of the Interior (DOI) issued twin rulings to impose “maximum protections” banning oil exploration in 13 million acres in the western Arctic and deny permits for a 211-mile road the state wanted to build to a colossal copper deposit worth an estimated $7.5 billion. Interior Secretary...

A father has started legal action against UK oil giant BP over the death of his 21-year-old son. Hussein Julood alleges the burning off of gas at a BP-run oil field in Iraq - a practice known as flaring - caused his son Ali's leukaemia. A BBC investigation in 2022 found Ali's village, which lies within the field, had high levels of cancer-causing pollutants known to come from flaring. BP said "we understand the concerns" and are supporting change. The case is believed to be the first time an individual has started legal action against a major oil firm over...

CNN — In a sweeping win for climate and environmental advocates, the Biden administration on Friday finalized a rule to ban fossil fuel drilling on nearly half of the National Petroleum Reserve in Alaska, alongside other major conservation actions. The Interior Department will block oil drilling on over 13 million acres in the Western Arctic, including about 40% of the land of the NPR-A – a remote area that is home to protected animal species including polar bears and caribou. The reserve is more than 23 million acres of public land and an underground emergency oil supply for the US...

The administration of U.S. President Joe Biden reinstated oil and gas sanctions on Venezuela on Thursday, a recognition that lifting the sanctions did nothing to entice the socialist regime to host a free and fair election. The Biden administration lifted some of the strictest U.S. sanctions on dictator Nicolás Maduro’s regime last year as part of a dialogue in which Maduro agreed to host a presidential election sometime in 2014. The deal collapsed rapidly; Maduro scrapped it in October and launched a new wave of violence against anti-socialist dissidents, likely bankrolled by new oil profits. The Biden sanctions relief lasted...

On Tuesday’s “CNN Newsroom,” CNN Military Analyst and former NATO Supreme Allied Commander Gen. Wesley Clark (Ret.) stated that American sanctions against Iran won’t be effective in part because “the United States really doesn’t want to seal off Iran’s oil exports” to keep oil prices from spiking, and the real issue is “will the United States really extend its nuclear guarantee to Israel, and will that be sufficient to keep Iran back from this ring of fire? That’s the question. And then, can Israel finish off Hamas in Rafah?” Host John Vause asked, “The U.S. already has an arms ban...

The USA has called for Ukraine not to attack Russian refineries despite Russia's widespread offensive against several energy facilities in Ukraine. The Department of Defense has warned that such an attack could bring another spike in fuel prices worldwide. Michaelo Podoliak, advisor to Ukrainian president Volodymyr Zelenskyy, claimed that such facilities were legitimate military targets. In a recent interview, he also claimed that such an attack was not only legitimate but desirable on a worldwide level in order to weaken Russia's hold on the energy lobby. “Ukraine must destroy Russia's refineries. They have no impact on worldwide pricing, and are...

The Interior Department on Friday finalized a rule making it more expensive for oil and gas producers to drill on federally owned lands. Several of the provisions in the rule — like raising the rent the government charges to oil companies for using its land and increasing the government’s share of the profits from that oil — were set out in law by the Democrats’ Inflation Reduction Act. The Biden administration will additionally make it more expensive for drillers to abandon their oil wells after use instead of cleaning them up. The administration argues that current bonding rates do not...

Reporting from Western New York: gas price at my local gas station jumped $0.13 in the last 24 hours. I've never seen a hike that fast. Is anyone else seeing the same thing? I already see gold prices shooting up. Is this gas price? Starting to catch up to it now?

John Sabo and Josh Thieler grew up in Pittsburgh-area communities that were hit hard as 200,000 steel and manufacturing jobs disappeared from the region, upending their parents’ generation and leaving main streets pocked with empty storefronts. Sabo, the son and grandson of mill workers, says his father rarely found steady work after losing his job in a U.S. Steel mill, leaving Sabo to “know what government cheese tastes like.” Thieler spent part of his childhood in a trailer park in a small city that shed nearly half its population as families hunted elsewhere for work. Today, both men have good...

Reuters said Novatek had stopped operations at its Arctic LNG 2 project, which processes gas from the Utrenneye field on West Siberia' Gydan Peninsula, in the latest blow to Russian fuel exports. It comes as Russian exports funding Putin's war have been hampered by repeated drone strikes on oil facilities, blamed on Ukraine. One energy industry expert told Newsweek that state oil giant Rosneft had reduced daily oil processing in March by a fifth. Sanctions have caused a lack of specialist tankers to transport the LNG from Russia through thick sea ice. Six Arc7 tankers were due to be built...

Bidenomics is really about insane money printing after Covid and the installation of Biden as President. Biden and The Federal Reserve are both pushin’ too hard. Biden to fundamentally change the US and The Fed trying to cope with the inflation reaction. With Covid and then Biden’s selection as President, Federal outlays exploded (blue line) and remain elevated under Biden. To help finance the (outrageous) spending The Federal Reserve massively increased the M2 Money supply (green line). Now, The Fed has withdrawn some of the excessive monetary stimulus, but there is a staggering amount monetary stimulus still swimming around the...

One of the officials of the US Treasury Department reiterated EAM S Jaishankar’s words on Russian crude oil. Anna Morris, Acting Assistant Secretary for Terror Financing (US Treasury), was in Delhi on April 04. She was asked about US buying a large portion of refined oil from India, the country which imports crude from Russia.

President Joe Biden’s administration dropped its plan to buy oil to refill the Strategic Petroleum Reserve (SPR) due to rising oil prices. The oil would have gone to Louisiana’s Bayou Choctaw SPR site in August and September. The administration canceled the purchase despite depleting the emergency supply by 43%, the lowest since the 1980s. U.S. Won’t Buy Oil to Refill Strategic Petroleum Reserve The administration canceled the purchase despite depleting the emergency supply by 43%, the lowest since the 1980s. Posted by Mary Chastain Wednesday, April 3, 2024 at 05:00pm 18 Comments FacebookTwitterTelegramLinkedInWhatsAppRedditEmail President Joe Biden’s administration dropped its plan...

The Biden administration on Wednesday barred drilling and mining in a Colorado landscape known as the Thompson Divide, an area of mountaintops, foothills and valleys in the center of the state. The administration said it would bar drilling and mining in 221,898 acres of the divide’s lands for 20 years as part of an effort to preserve it for the future. “The Thompson Divide area is a treasured landscape, valued for its wildlife habitat, clean air and water, and abundant recreation, ecological and scenic values,” Interior Secretary Deb Haaland said in a written statement. “The Biden-Harris administration is committed to...

The Vermont Legislature is advancing legislation requiring big fossil fuel companies pay a share of the damage caused by climate change after the state suffered catastrophic summer flooding and damage from other extreme weather. “In order to remedy the problems created by washed out roads, downed electrical wires, damaged crops and repeated flooding, the largest fossil fuel entities that have contributed to climate change should also contribute to fixing the problem that they caused,” Sen. Nader Hashim, a Democrat from Windham County, said to Senate colleagues on Friday. It’s a polluter-pays model affecting companies engaged in the trade or business...