• BP earnings triple as energy firm profits from rising prices

    16 days ago - By Chron

    LONDON - BP's earnings tripled in the second quarter as the British energy giant profited from oil and natural gas prices that soared after Russia invaded Ukraine.
    London-based BP said Tuesday that underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, jumped to $8.45 billion from $2.80 billion in the same period a year earlier.
    The soaring earnings allowed BP to return billions of dollars to shareholders, with the company boosting its dividend by 10% and announcing that it would buy back $3.5 billion in shares. BP said it expects to...
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  • Russian state-energy giant Gazprom saw its natural-gas production in July slump to its lowest level since 2008

    16 days ago - By Business Insider

    Russian President Vladimir Putin. MIKHAIL KLIMENTYEV/Getty
    Gazprom's July output was 774 million cubic meters a day - a 14% on-month dip.
    Russia recently slowed gas flows to Europe via a major pipeline, citing technical challenges.
    Russia is collecting bumper revenues, but sanctions stand to hurt its economy in the longer term.
    Russian state-energy giant Gazprom saw its daily natural-gas production slump to its lowest level since 2008, according to a Bloomberg calculation published on Monday. The fall in output came as Russia slowed gas flows to Europe, citing technical challenge s arising...
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  • Russia boosts gas flow to China

    Russia boosts gas flow to China

    16 days ago - By RT

    Deliveries via the Power of Siberia pipeline are up by over 60%
    Russia has increased natural gas deliveries to China via the Power of Siberia pipeline this year, Russian energy major Gazprom said on its official Telegram channel on Monday.
    Deliveries were up 60.9% compared to the same period last year.
    “ In particular, in July deliveries were regularly in excess of the daily contract quantities, with the historical record of the daily export volume being surpassed three times, ” Gazprom said.
    Meanwhile, Gazprom's export to non-CIS countries amounted to 75.3 billion cubic meters, which is...
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