‘UK seeks financial backing from banks for North Sea oil projects’

Major financial institutions, including Barclays, Lloyds, NatWest have reportedly been invited by the Treasury for discussions aimed at revitalising investments in North Sea oil and gas ventures

Deliveries of Russian oil to Europe halted

Slovakia, Czech Republic and Hungary are expected to be affected by the suspended Russian oil pipeline flows

How much Russian oil is Europe importing?

Russia was the largest supplier of petroleum to Europe in 2021, according to a new report

Australia ‘has just 68 days of oil reserves’

The country is nearly 91% dependent on imported oil, a public policy think tank has warned

Industry body urges government to ban Russian natural gas imports

Biomethane could provide a sustainable way to help the UK phase out Russian gas, ADBA Chief Executive has said

UK to phase out Russian oil imports by end of 2022

The government will work with companies through a new Taskforce on Oil to support them during this period in finding alternative supplies

India ‘to save $45bn on crude oil imports next financial year’

A $1 decline in global prices of crude oil reduces India’s import bill by $1.5 billion, states the Confederation of Indian Industry

‘Stronger’ EV target could halve UK oil imports

The UK’s oil imports could be slashed in half if a “stronger” target for electric vehicles (EVs) was in place. New analysis suggests while the government’s plan to ban new petrol and diesel vehicles by 2040 is a step in the right direction, a more ambitious goal is needed to bring forward public health and […]

US agency projects zero oil imports by 2037

Oil imports to the US could fall to zero by 2037 as a result of increased production, according to a new report. The Energy Information Administration (EIA) reveals US production of oil has risen “dramatically” in the past few years, from less than one million barrels per day (MMbbl/d) in 2010 to more than three […]