The Russian rouble weakened against the dollar on Wednesday but steadied not far from a five-year high against the euro, after losing the support of some capital controls and as sovereign default risk again became a prominent issue.
The Russian rouble weakened against the dollar on Wednesday but steadied not far from a five-year high against the euro, after losing the support of some capital controls and as sovereign default risk again became a prominent issue.
Russia became the fourth-largest oil supplier to India in April, with volumes set to rise further in coming months as low prices spur demand from the world’s No. 3 oil consumer and importer, tanker tracking data showed.
Italian energy group Eni (ENI.MI) will open bank accounts this week to pay for Russian gas after clarification that such a move will not breach sanctions, two sources said on Monday.
Turkish house sales rose 38.8 per cent in April on the year to 133,058 houses, data from the Turkish Statistical Institute showed on Tuesday, with more than double the houses sold to Russians compared to a month ago as they sought a financial haven.
Elon Musk suggested that a lower price for Twitter Inc (TWTR.N) may be appropriate as he and CEO Parag Agrawal quarreled over the company’s estimates of spam accounts on Monday, according to an attendee at a private conference where Musk was speaking.
Cryptocurrency exchange FTX’s founder has said that bitcoin has no future as a payments network and criticized the digital currency for its inefficiency and high environmental costs, the Financial Times reported on Monday.
![]() |
The world's largest fast food chain had in March decided to close its 847 restaurants in Russia, taking a hit of $50 million per month |
McDonald’s said on Monday it has started a process to sell all its restaurants in Russia, exiting the country after more than 30 years following its invasion of Ukraine.
Shares in Vodafone (VOD.L) jumped 4 per cent in early trade on Monday after the United Arab Emirates-based telecoms company e& (ETISALAT.AD) revealed it had bought a 9.8 per cent stake in the British mobile operator.
Movers and shakers arriving for the annual meeting of the World Economic Forum (WEF) this month can pack sandals instead of ski boots for a rare springtime version of the event in Davos, the Swiss ski resort that is Europe’s highest city.
Some Western companies have agreed to sell their Russian assets or hand them over to local managers as they scramble to comply with sanctions over the Ukraine conflict and deal with threats from the Kremlin that foreign-owned assets may be seized.
Russian oil and gas condensate average output has increased by around 1.7 per cent month on month to 1.4 million tonnes per day (10.25 million barrels per day) in the first half of May, Interfax news agency reported on Monday, citing a source.
The European Bank for Reconstruction and Development (EBRD) is considering financial support for Ukraine’s transport and logistics companies to help them maintain their exports, a senior bank official said on Thursday.
With estimated recoverable resources of 8.2 TCF and 234 MMbbl of gas and condensate respectively, the Ryder Scott Company, has confirmed Innoson Oil & Gas Ltd.’s own findings from a rigorous hydrocarbon exploration campaign it’s been engaged in, in the Sierra Leonean basin since 2020._
A recently concluded independent third party evaluation, by the Ryder Scott Company, revealed an SPE-PRMS P50 estimated unrisked gross prospective recoverable resources of 8.2 TCF and 234 MMbbl of gas and condensate respectively, attributable to the Innoson Oil & Gas (IOG) concession offshore Sierra Leone.
IOG was awarded nine graticular provisional blocks in May 2020. The following year, the parliament of Sierra Leone ratified a petroleum exploration and production license in favor of IOG as confirmed in a letter of conveyance to IOG in April 2021.
The Sierra Leonean basin has a working petroleum system, corroborated by oil deposits encountered during previous exploration activities amongst others by Anadarko, Repsol, and Tullow Oil that achieved the Venus B1 discovery and Mercury wells.
According to Martin Nweke (IOG’s Administrative Director), boldness, and the willingness to deploy unconventional but performant technological ingenuities and people, constitute foundational propositions that drove the campaign of the industry novice.
With cost, time, and precision quintessential, IOG exploration team, led by Dr. Andrey Sergeev (Project Director & Chief Geologist) deployed ab initio, robust earth remote sensing (ERS) method for basin reconnaissance. Assessment of gathered ERS data pre-informed the choice and number of graticular blocks in IOG extant acreage. The so determined ERS acreage pre-knowledge reduced the need for 2D & 3D seismic- and well-data to target only prospective anomalous zones in the contract area.
The development opportunity is currently being appraised. Asset evaluation, a field development plan, and the setup of a data room are vigorously pursued with the immediate objective to engage a farm-in partner; ideally, with the financial strength, technological and management competencies to accomplish joint discovery, development, and production.
IOG has a 100% working interest on the prospect with a 10% carried, plus an optional 5% paid interest(s) for the state of Sierra Leone. Attractive fiscal and tax regimes by the state of Sierra Leone offer a flexible so robust environment for a big take.
Innoson Oil & Gas is located in Uru Umudim, Nnewi, Anambra State.
Japan’s Toshiba Corp (6502.T) said on Friday it has received interest from 10 potential investors after it solicited buyout offers.
OPEC on Thursday cut its forecast for growth in world oil demand in 2022 for a second straight month, citing the impact of Russia’s invasion of Ukraine, rising inflation and the resurgence of the Omicron coronavirus variant in China.
![]() |
REUTERS/Dado Ruvic/Illustration/File Photo |
Cryptocurrencies nursed large losses on Friday, with bitcoin pinned below $30,000 and set for a record losing streak as the collapse of TerraUSD, a so-called stablecoin, rippled through markets.
Siemens (SIEGn.DE) will quit the Russian market due to the war in Ukraine, it said on Thursday, taking a 600 million euro ($630 million) hit to its business during the second quarter, with more costs to come.
Cryptocurrencies extended their sell-off on Thursday, with Bitcoin falling to its lowest levels in 16 months as a stampede out of so-called stablecoins sent shockwaves around broader markets.
Pressure on Europe to secure alternative gas supplies increased on Thursday after Moscow imposed sanctions on European subsidiaries of state-owned Gazprom and Ukraine stopped a gas transit route, pushing prices higher.
![]() |
The Rock, the biggest white diamond ever pictured prior to the start of Christie's Magnificent Jewels sales in Geneva. – AFP |
The Rock, the biggest white diamond ever auctioned, sold for a hammer price of 18.6 million Swiss francs ($18.8 million) on Wednesday, far short of the record for such a jewel.