Demand for Oil Loading Outside Persian Gulf Soars on War Risk
Take Murban, which can be exported from Jebel Dhana on the Persian Gulf and, if purchased on the ICE Futures Abu Dhabi exchange, from Fujairah on the Indian Ocean-side of the strait. Trading volumes on ICE Futures shot up to 44,000 lots Friday, almost triple the average for the year prior to that, after the initial Israeli strikes. They've stayed elevated this week.
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Russia decree opens door for Exxon return to Sakhalin-1 project
MOSCOW (Reuters) -Russian President Vladimir Putin on Friday signed a decree that could allow foreign investors, including top U.S. oil major Exxon Mobil, to regain shares in the Sakhalin-1 oil and gas project. The signing of the decree comes on the day Russian president Vladimir Putin meets Donald Trump in Alaska for a summit where opportunities for investment and business collaboration will be on the agenda, alongside talks to find peace in Ukraine. Friday's decree was published as a follow-up to one Putin signed in October 2022, which ordered the seizure of the Sakhalin-1 project. Exxon previously held a 30% operator share in the lucrative project, and is the only non-Russian investor to have quit its stake. Exxon did not immediately reply to Reuters request for comment. The path to Western investment returning to Russia is unclear given the U.S. and European Union would need to lift far-reaching sanctions to facilitate investment. Companies who might wish to return, having spent significant amounts of money to exit the country three years ago, also face high barriers put up by the Russian government. Trump and his team have considered what sanctions they may be able to lift quickly in the case of progress in talks. Sakhalin-1 has to date not been directly designated under extensive U.S. sanctions on Russian energy. The decree stipulates that foreign shareholders must undertake actions to support the lifting of Western sanctions if they want to regain their share. They must also conclude contracts for supplies of necessary foreign-made equipment to the project, and transfer funds to Sakhalin-1 project accounts. Exxon took an impairment charge of $4.6 billion to exit its Russian business after Moscow sent troops into Ukraine in February 2022. In December 2024, Putin signed a decree extending the sale period for the unclaimed Exxon stake in Sakhalin-1 until 2026. The October 2022 decree established Rosneft subsidiary Sakhalinmorneftegaz-shelf as the new operator, allowing the Russian government to decide foreign investors' ownership rights in Sakhalin-1. Alongside Exxon, Russian company Rosneft, India's ONGC Videsh and Japan's SODECO were partner investors. The Russian government allowed both ONGC Videsh and SODECO to keep their stakes. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
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Russia decree opens door for Exxon return to Sakhalin-1 project
MOSCOW (Reuters) -Russian President Vladimir Putin on Friday signed a decree that could allow foreign investors, including top U.S. oil major Exxon Mobil, to regain shares in the Sakhalin-1 oil and gas project. The signing of the decree comes on the day Russian president Vladimir Putin meets Donald Trump in Alaska for a summit where opportunities for investment and business collaboration will be on the agenda, alongside talks to find peace in Ukraine. Friday's decree was published as a follow-up to one Putin signed in October 2022, which ordered the seizure of the Sakhalin-1 project. Exxon previously held a 30% operator share in the lucrative project, and is the only non-Russian investor to have quit its stake. Exxon did not immediately reply to Reuters request for comment. The path to Western investment returning to Russia is unclear given the U.S. and European Union would need to lift far-reaching sanctions to facilitate investment. Companies who might wish to return, having spent significant amounts of money to exit the country three years ago, also face high barriers put up by the Russian government. Trump and his team have considered what sanctions they may be able to lift quickly in the case of progress in talks. Sakhalin-1 has to date not been directly designated under extensive U.S. sanctions on Russian energy. The decree stipulates that foreign shareholders must undertake actions to support the lifting of Western sanctions if they want to regain their share. They must also conclude contracts for supplies of necessary foreign-made equipment to the project, and transfer funds to Sakhalin-1 project accounts. Exxon took an impairment charge of $4.6 billion to exit its Russian business after Moscow sent troops into Ukraine in February 2022. In December 2024, Putin signed a decree extending the sale period for the unclaimed Exxon stake in Sakhalin-1 until 2026. The October 2022 decree established Rosneft subsidiary Sakhalinmorneftegaz-shelf as the new operator, allowing the Russian government to decide foreign investors' ownership rights in Sakhalin-1. Alongside Exxon, Russian company Rosneft, India's ONGC Videsh and Japan's SODECO were partner investors. The Russian government allowed both ONGC Videsh and SODECO to keep their stakes. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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an hour ago
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🚨 Lower fee than expected? Coman's Bayern exit now official!
Kingsley Coman will leave FC Bayern Munich for good! The record champions have just officially announced his transfer to Al-Nassr. According to consistent media reports, he will sign a contract with the Saudi club until 2028. However, there seems to be some confusion regarding the transfer fee. 'Sky' transfer expert Florian Plettenberg reports that nearly 35 million euros are expected to flow into Munich's coffers. 30 million euros are guaranteed, plus an additional two to three million that are "easy to achieve," as well as further possible bonuses. According to Fabrizio Romano, however, the sum is said to be under 30 million euros. Coman himself is set to receive an annual salary of 20 to 25 million euros at the Saudi club. This will significantly increase his income once again! This article was translated into English by Artificial Intelligence. You can read the original version in 🇩🇪 here. 📸 Jasmin Walter - 2025 Getty Images
