The announcements came as the White House said Russia had defaulted on its foreign sovereign bonds for the first time in a century—an assertion Moscow rejected.
The German economy ministry is considering expropriating the German portion of the Nord Stream 2 pipeline system, built by Russian gas giant Gazprom, and cutting it off from the rest of the pipeline.
To date, the direct economic damage to Ecuador is estimated at around $45 million considering a WTI price of $100/bbl, according to state-owned Petroecuador, the country’s main oil and gas producer.
The payments only relate to BP’s upstream operations in the country and do not include other corporate taxes such as its retail business.
“We have to ask ourselves the question: Can we develop additional fields in Germany?” E.ON CEO Leonhard Birnbaum said, adding that maximizing domestic gas production could be part of the solution and more environmentally friendly than other alternatives.
DNV CEO Remi Eriksen warned consumers that hydrogen usage globally needs to triple by 2050 to be in compliance with the Paris Agreement. “Hydrogen seems to be everywhere and nowhere,” he said during a recent webinar.
“The president had spoken ... oil and gas discussions are terminated completely. Nothing is pending; everything is over,” the Philippines’ outgoing foreign minister said of talks over joint energy exploration between his country and China.
The Australian Conservation Foundation commenced proceedings in the Federal Court of Australia against Woodside Energy’s Scarborough gas project due to its projected impact on the Great Barrier Reef.
“If this minus becomes so big that the companies can’t bear it anymore and they fall down, the whole market threatens to fall down at some point—so a Lehman Brothers effect in the energy system,” German Economy Minister Robert Habeck warned.
Canada's parliamentary budget officer recently reported that the government-owned Trans Mountain pipeline has a net present value of negative C$600 million, making it no longer profitable.