oil

Iranian lawmakers approved closing the Strait of Hormuz, but the final decision has not yet been made

Iran's parliament has approved the closure of the Strait of Hormuz, a key passage for about 20 percent of the world's oil and gas supplies, Al Arabiya reports, citing Iranian Press TV on June 22.

22 June 2025, 07:15 PM

Russian oil prices see 15% increase amid Israel-Iran conflict

Israel's war with Iran is becoming a "lifeline" for the Russian budget, which has seen a sharp drop in oil and gas revenues this year, with the ruble price of Russian Urals oil increasing by almost 15% in just a few days of the conflict, according to The Moscow Times, citing the Russian analytical company BCS on June 16.

16 June 2025, 05:19 PM

Oil prices surge after Israeli strike on Iran

Oil prices surged, following reports of Israeli strikes on Iran, Interfax-Ukraine reported on June 13.

13 June 2025, 11:39 AM

Russia’s key revenues from oil and gas cut in half in May

Russia’s federal budget revenues from oil and gas fell by 53% in May 2025 compared to April, dropping from 1.09 trillion rubles ($12.1 billion) to 512.7 billion ($5.7 billion), and were down 35% year-on-year, The Moscow Times reported on June 4.

4 June 2025, 04:44 PM

Russia’s oil revenues fall to two-year low — report

Russian revenues from crude oil exports fell to a two-year low as global energy prices continue to slide, Bloomberg reported on May 28.

28 May 2025, 11:48 PM

Russia’s oil and gas revenues fall sharply year-on-year in April

Russia’s oil and gas revenues fell 12% year-on-year in April 2025, dropping from 1.23 trillion to 1.09 trillion rubles (from $13.3 billion to $11.8 billion), The Moscow Times reported on May 7.

7 May 2025, 03:47 PM

Trump suggests oil prices may influence outcome of war in Ukraine

U.S. President Donald Trump said the current drop in oil prices could help resolve the Russia-Ukraine war, speaking to reporters during an event at the White House, Liga reported on May 6.

6 May 2025, 11:19 AM

Crude prices increase as U.S. and China signal better ties

Oil prices rose amid hopes of easing trade tensions between the U.S. and China, with Brent crude futures for June delivery climbing 55 cents to $65.22 a barrel on the ICE Futures exchange in London, according to Interfax-Ukraine on April 16.

16 April 2025, 05:16 PM

EU to present plan to replace Russian oil and gas imports in May

The European Commission will unveil a detailed plan in May to phase out Russian oil and gas imports, after twice delaying the announcement, Reuters reported on April 15.

15 April 2025, 02:08 PM

Russia faces military budget strain as oil prices drop

A recent sharp drop in oil prices, driven by President Donald Trump’s trade war, is straining the military budget of Vladimir Putin, the Financial Times reports on April 12.

12 April 2025, 08:50 PM

Saudi Arabia confirms discovery of 14 new oil and gas fields

Saudi Arabia has discovered 14 new oil and gas fields, according to a Reuters report on April 12.

12 April 2025, 07:18 PM

Drone strike damages railway in Russia’s Krasnodar Krai

Drones struck Russia’s Krasnodar Krai, damaging a railway, local officials said on April 12.

12 April 2025, 12:19 PM

New fuel oil leaks from sunken Russian tankers spotted in Kerch Strait

New fuel oil leaks from Russian tankers that sank in December have been detected in the Kerch Strait, Ukraine’s Center for Countering Disinformation reported, citing satellite images on April 3.

3 April 2025, 04:43 PM

The Alaska rewind: How history fuels Putin’s latest imperial dreams

It’s been 158 years since Russia sold Alaska to the United States. So how did it happen — and how did this harsh, frozen territory become one of the wealthiest states in the country? More to the point: Why does Vladimir Putin still seem obsessed with the idea of taking it back?

2 April 2025, 11:25 AM

Kremlin releases list of energy facilities covered by partial ceasefire

The Russian government has published a document describing which Ukrainian and Russian infrastructure facilities fall under the U.S.-mediated 30-day ceasefire agreement.

26 March 2025, 12:21 AM

Ukrainian agriculture defies war with record exports

The export of grains and oilseeds in the July-January period of the 2024/25 marketing year increased by 13.4% to $11 billion compared to the same period last year, the Ukrainian Grain Association (UGA) reported on Facebook on Feb. 25.

26 February 2025, 01:52 PM

Ukrainian President to address oil price issue in Saudi Arabia

Ukrainian President Volodymyr Zelenskyy said his visit to Saudi Arabia will include discussions on oil prices, Ukrinform reports on Feb. 17.

17 February 2025, 06:59 PM

Ukraine takes out 10% of Russia’s oil refining

Russia may reduce oil production in the coming months due to U.S. sanctions and Ukrainian drone attacks targeting its oil refineries, Reuters reported on Feb. 13.

13 February 2025, 11:38 PM

US sanctions on Russian and Iranian oil lead to floating storage surge

The volume of Russian and Iranian oil stored on tankers has reached a multi-month high as stricter U.S. sanctions have reduced the number of buyers and available tankers for shipments, Reuters reported on Feb. 12.

12 February 2025, 07:37 PM

Ukrnafta uses 3D seismic technology to explore 600 square kilometers in challenging conditions

In 2024, Ukrnafta, a leading Ukrainian oil and gas company, conducted 3D seismic surveys across 600 square kilometers of its technological areas, covering eight oil fields and sites, the company’s press service reported on Feb. 12.

12 February 2025, 06:40 PM

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