Bp Stock News

Polish Ambassador Says Sanctions On Russia Should "Last For A Decade, Maybe 15 Years" Poland’s Ambassador to the United States, Marek Magierowski, wants the new US and EU-led sanctions on Russia which came in the aftermath of its Feb.24 invasion of Ukraine to last for ten or up to 15 years. He described in a live interview with CNN’s Christiane Amanpour on Thursday that the sanctions should "last for a decade, maybe 15 years." Also amid allegations that Russian forces are targeting hospitals, which are similar to claims made in Aleppo during Russia''s prior years'' military action there, Magierowski cited "acts of barbarism in Ukraine" that he called "war crimes, atrocities." Poland’s Ambassador to the US, Marek Magierowski On this point, he said, "I do believe and I am confident that Mr. Putin and his cronies and all his closest aides will end up in the dock, in the Hague, in the International Criminal Court, because this is what he has already fully deserved," according to CNN. Here''s what he told Amanpour in the interview on how long-lasting Russia''s total economic isolation should be: “I think that if we wanted to retaliate for that invasion against Ukraine with punitive measures and by crippling the Russian economy, we have to be determined and ready to uphold the sanctions in a longer term .

Amid an exodus of Western European and U.S. companies from Russia, Chinese businesses are seeking to take their place, Bloomberg reported this week, citing unnamed sources in the know. It was only a matter of time, really. Nature abhors a vacuum, and so does business. Chinese business, in addition to this, is quite pragmatic, unlike its Western counterparts and competitors. So, once BP, Shell, and pretty much everyone but French TotalEnergies left Russia in the wake of the Ukraine crisis, Chinese energy firms owned by the government started…

BP (BP) and Shell (SHEL) have not offered spot diesel cargoes on the German market for two weeks, for fear of a supply shortage, according to Reuters sources.Russia accounted for 58%…

In a season where many forward-thinking countries have adjusted their retail price of petrol to reflect current global realities, Africa’s biggest oil-producing country has remained docile. Oil shot above $100 per barrel for the first time in years the day Russia invaded Ukraine and has climbed sharply higher since. As a result of this development, countries like the United States, Ghana and Egypt have adjusted their petrol prices to reflect the current realities. For instance, in the US, petrol prices jumped by 55 cents a gallon in a week. According to data from the American Automobile Association the national average of petrol in the country is now $4.17. In neighbouring Ghana, the development is the same. According to the Automobile Dealers Union Ghana, petrol is now selling for GHC 8.29 per litre ($1.18), about 25 percent increase from GHC 6.65 per litre ($0.95) at the start of the year. In Egypt, the government raised the prices of several types of vehicle fuel last month. The per litre price of 80-octane gasoline (a type of petrol) rose from 7 to 7.25 Egyptian pounds ($0.54-$0.64), while 92-octane gasoline rose from 8.25 to 8.50 pounds ($0.53-$0.54) and 95-octane gasoline rose from 9.25 to 9.50 pounds ($0.59-$0.60).

https://www.investing.com/news/commodities-news/shell-and-bp-hold-back-from-german-diesel-sales-on-shortage-fears-2782091

City Comment: Let Shell and BP secure our energy supplies

Oil majors BP and Shell have held back on offering spot diesel cargoes in the market for the past two weeks, two traders sources with direct knowledge of the matter said, fearing potential shortages i

BP, Apple, McDonald’s, Netflix and Ford are among the growing number of companies to either cut back, suspend or shutdown operations and trade with Russia in response to its invasion of Ukraine

It turns out deciding to quit Russia was the easy part. Two weeks after Russia invaded Ukraine, a corporate consensus has emerged. From BP to Unilever, international companies are clearing out of Russia. But it’s one thing to say you’re going to leave and another thing to do it. There are different types of challenges. […] The corporate retreat from Russia is going to be messy

Photo Illustration by Luis G. Rendon/The Daily Beast/Getty Images When the U.S. and its allies announced they would sanction Russia’s massive energy sector this week, Deputy Prime Minister Alexander Novak issued his own threats. He warned that the banning of Russian oil “would lead to catastrophic consequences for the global market,” with prices that could reach $300 per barrel. But his most specific target was Germany, which has suspended certification of the Nord Stream 2 natural gas pipeline. That decision, he asserted, gave the Kremlin “every right to take a matching decision” and stop natural gas flowing through the existing pipeline to Germany, effectively cutting the country off from its major supplier. But, as any disinterested observer might say, “Wait a moment.” Russia is already squeezed by far more extensive sanctions than it ever expected, triggering the longest closure of the stock market in its history, a swan dive of the ruble, drastic restrictions on banks, the cancellation of most international flights, and a rush for the exits by Western firms as varied as McDonald’s and BP.

Russia''s invasion of Ukraine has forced many traders of natural resources to reassess their relationship with the country, often under pressure from governments in Europe and the US, but participants in the wheat market say they''re expecting major international investors to retain their assets in the country, which is the world''s biggest exporter. In the energy sector, Shell and BP…

WASHINGTON, D.C.: Striking harder at Russia''s economy, United States President Joe Biden on Tuesday (Wednesday in Manila) ordered a ban on Russian oil imports in retaliation for Vladimir Putin''s onslaught in Ukraine. The major trade action, responding to the pleas of Ukraine''s embattled leader Volodymyr Zelenskyy, thrust the US out front as Western nations seek to halt Putin''s invasion. Americans will feel pain, too — at the gas pump — Biden acknowledged, declaring: "Defending freedom is going to cost." The imports have been a glaring omission in the massive sanctions put in place on Russia over the invasion. Energy exports have kept a steady stream of cash flowing to Russia despite otherwise severe restrictions on its financial sector. "We will not be part of subsidizing Putin''s war," Biden said, calling the new action a "powerful blow" against Russia''s ability to fund the ongoing offensive. The US leader said Washington was acting in close consultation with European allies, who are more dependent on Russian energy supplies and who he acknowledged may not be able to join in immediately.

By Ron Bousso LONDON (Reuters) – Within hours of Moscow launching its invasion of Ukraine, BP’s chief executive summoned his senior team to discuss the limited options for its Russian operations, including separating the British energy giant’s stake in Russian oil firm Rosneft or exiting completely, according to three senior BP executives.

Within hours of Moscow launching its invasion of Ukraine, BP’s chief executive summoned his senior team to discuss the limited options for its Russian operations, including separating the British energy giant’s stake in Russian oil firm Rosneft or exiting completely, according to three senior BP executives.

For BP''s CEO, Russian exit eased by reservations about Rosneft stake