Obama Administration Bars New Oil, Gas Exploration off Alaska
Petroleum Institute industry group, said the decision "puts the U.S. at a serious competitive disadvantage." Russia and Norway have also explored the Arctic, though Exxon Mobil wound down drilling in the Russian north in 2014 due to U.S. sanctions over Moscow's aggression in eastern Ukraine. Fierce winds and frigid waters make the Arctic treacherous for drilling equipment. After spending billions of dollars to explore the Alaskan Arctic, Royal Dutch Shell retreated in 2015 after suffering a gash in one of its ships and environmentalists had uncovered details of an old
Rosneft Set to Lower Oil Output
Rosneft, Russia's top oil producer, is set to lower oil output, Russian Natural Resourses Minister Sergei Donskoi said on Tuesday, giving no time frame for the decrease. He also said he hoped that state-controlled Rosneft will resume drilling for oil in the Arctic. The company suspended drilling in 2014 after its partner ExxonMobil withdrew from the project because of Western sanctions imposed on Moscow over its role in the conflict in eastern Ukraine. (Reuters Reporting by Olesya Astakhova; Writing By Denis Pinchuk; Editing by Dmitry Solovyov)
Rosneft Expands Deal with North Atlantic Drilling
officer said a statement. Rosneft plans to start drilling an exploration well jointly with ExxonMobil in Kara Sea next month. The United States and the European Union have imposed a number of sanctions against Russian individuals and companies, including Rosneft, in attempt to spot violence in eastern Ukraine where pro-Moscow rebels are fighting against the government forces. On Tuesday, European diplomats said ambassadors from the 28-member European Union agreed restrictions on the trade of equipment for the oil and defence sectors, and "dual use" technology with both defence and civilian
Ukraine Loses at Least $80 Billion Since Russia Takes Crimea
to challenge Russia's annexation of Crimea last month, which plunged relations between East and West to lows not seen since the Cold War. Washington imposed a third round of sanctions on powerful Russians and businesses on Monday over Crimea and a build-up of Russian troops on the border with eastern Ukraine. The European Union is also expected to announce new penalties. But such measures have done nothing so far to deter Russian President Vladimir Putin, who argues that the Crimean people voted to join Russia in a referendum the West called a sham. Moscow has said sanctions are counterproduct
February 2025
