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By Andrew Osborn and Dmitry Antonov MOSCOW (Reuters) - Russian President Vladimir Putin ordered the deployment of troops to two breakaway regions in eastern Ukraine after recognising them as independent on Monday, accelerating a crisis the West fears could unleash a major war. A Reuters witness saw unusually large columns of military hardware moving through the breakaway city of Donetsk after Putin told Russia''s defence ministry to send forces into the two regions to "keep the peace" in a decree issued shortly after announcing recognition for Russian-backed separatists there. The moves drew U.S. and European condemnation and vows of new sanctions although it was not immediately clear whether the Russian military action would be regarded by the West as the start of a fullscale invasion. The area was already controlled by Russian-backed separatists and Moscow in practice. There was no word on the size of the force Putin was dispatching, but the decree said Russia now had the right to build military bases in the breakaway regions and that the troops'' mission would a peacekeeping operation.

Saudi Arabia - one of the world''s biggest oil producers - says it''s pivoting to green energy. But will reality live up to the rhetoric?

SINGAPORE : Oil jumped to a seven-year high, safe-havens rallied and U.S. stock futures dived on Tuesday as Europe''s eastern flank stood on the brink of war after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine.Brent crude futures rose 4per cent to $97.35, their h

The Supreme Court of the Federal Government of Iraq (FGI) in Baghdad has made two landmark legal rulings that have significant, if not catastrophic, implications for the exploration, development, and extraction operations of international oil companies (IOCs) working in the northern Iraq semi-autonomous region of Kurdistan. First, it ruled last week that sales of oil and gas by the regions government, the KRG, independent of the central government in Baghdad, is unconstitutional and that the KRG must hand over all oil production to

MOSCOW, Russia Russian President Vladimir Putin recognized two breakaway regions in eastern Ukraine as independent on Monday, February 21, and ordered the Russian army to launch what Moscow called a peacekeeping operation into the area, accelerating a crisis the West fears could unleash a major war. Putin told Russias defense ministry to deploy troops into the two regions to keep the peace in a decree issued shortly after announcing recognition for Russian-backed separatists there, drawing US and European condemnation and vows of new sanctions. It was not immediately clear whether the Russian military action would be regarded by the West as the start of an invasion of Ukraine that the United States and its allies have warned about for weeks since the area was already controlled by Russian-backed separatists and Moscow in practice. There was no word on the size of the force Putin was dispatching, but the decree said Russia now had the right to build military bases in the breakaway regions and that troops mission would be to uphold the peace.

Prices of crude oil rose in overnight trade as tensions surged in eastern Ukraine with the Kremlin announcing Russian President Vladimir Putin will officially recognize separatists in Donetsk and Luga

Oil also got a boost Monday after Saudi Aramco said it sees signs that demand is surging, especially in Asia. By Grant Smith and Devika Krishna KumarBloomberg Published On 21 Feb 202221 Feb 2022 Oil jumped as tensions mounted between Russia and the West over Ukraine, adding to bullish sentiment as leading market participants said they expect

Crude up over a dollar.UST higher, yen higher

By Andrew Osborn and Dmitry Antonov MOSCOW (Reuters) -Russian President Vladimir Putin told the leaders of France and Germany on Monday that he planned to sign a decree recognising the two breakaway regions in eastern Ukraine as independent entities shortly, the Kremlin said. The French and German leaders voiced disappointment after hearing the decision, the Kremlin said in a readout of the phone calls. Moscow''s move is also likely to torpedo a last-minute bid for a summit to prevent Russia from invading Ukraine. Separately, Moscow said Ukrainian military saboteurs had tried to enter Russian territory in armed vehicles leading to five deaths, an accusation dismissed as "fake news" by Kyiv. Both developments fit a pattern repeatedly predicted by Western governments, who accuse Russia of preparing to fabricate a pretext to invade Ukraine by blaming Kyiv for attacks and relying on pleas for help from separatist proxies. Recognition by Moscow of the rebel regions'' independence will narrow the diplomatic options to avoid war, since it is an explicit rejection of a seven-year-old ceasefire mediated by France and Germany, touted as the framework for future negotiations on the wider crisis.

Egypt is expecting major investments in its oil sector this year as national and foreign oil companies increase operations across the country. The development of Egypts energy sector has been further supported by increasing petrochemical output and a strong export market. Its geographic location could make it a hub in the MENA region and its efforts to decarbonize will help it sustain its position in the international oil market. After a successful year in oil and gas in 2021, Egypt is expecting between $7.5 to $8 billion in foreign

Saudi Aramco, the worlds largest producer, also said it sees signs that demand is rising, especially in Asia. By Grant Smith and Devika Krishna KumarBloomberg Published On 21 Feb 202221 Feb 2022 Oil rose as leading market participants said they expect global demand to continue its powerful recovery from the pandemic and tensions mounted over Ukraine. West

LONDON, Feb 21 (Reuters) - The bull run in North Sea crude differentials showed no sign of coming to an end on Monday as Oseberg was bid at the highest in over a decade. PLATTS WINDOW * No deals, a trade source said. * Oseberg: Mercuria bid for a March

LONDON, Feb 21 (Reuters) - Traders were waiting for Angola''s April allocations on Monday while Shell issued key Nigerian loading programmes. * Total exports of four of Nigeria''s main crude oil grades are set to rise in April to about 512,000

LONDON, Feb 21 (Reuters) - Total exports of four of Nigeria''s main crude oil grades are set to rise in April to about 512,000 barrels per day (bpd), excluding two deferred Forcados cargoes, from 460,000 bpd planned in March, loading programmes

With the scarcity and high cost of petrol arising from the dirty product saga in Nigeria, there is a need for automatic car users and owners to devise means to save fuel in their cars. This current state of scarcity which has lasted for two weeks and still counting has been an inconvenience to motorists, as many have gone as far as purchasing black market by the roadside at ridiculous prices, not to talk of putting their cars at risk. While speaking to stranded motorists left with no option but to patronize the black market taking advantage of the scarcity, BusinessDay observed that drivers pay up to N400 for a litre of petrol while some spend more when they are in a hurry. However, for automatic car owners, there are a few driving techniques that can help save fuel. Air Conditioner The air conditioner (AC), which provides cold air inside the car by removing heat and humidity from the indoor air, consumes a lot of fuel. A study undertaken by Empa on behalf of the Swiss Federal Office for the Environment (FOEN) disclosed that turning off the air conditioner of a car helps in saving fuel.