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Oil and gas to catapult global energy spending to record highs in 2022, Rystad says

Surging oil, gas and power prices together with the EU’s goals of becoming less dependent on Russian supplies and post-Covid-19 pandemic inflation will catapult global energy spending this year to $2.1 trillion, Rystad Energy research shows. The post Oil and gas to catapult global energy spending to record highs in 2022, Rystad says appeared first

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US Congress votes to ban oil imports, revokes Russia trade status

Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict The US Congress voted on Thursday to revoke “most favoured nation” trade status given to Russia and ban the importation of oil, in a move to further intensify the economic pain imposed on Moscow over its invasion

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South Korea to release record 7.23 million barrels of strategic petroleum reserves

South Korea has decided to release record 7.23 million barrels of strategic petroleum reserves in addition to its recent commitment of 4.42 million barrels in an effort to cool surging oil prices and tame accelerating inflation, the energy ministry said April 8. “The 7.23 million barrels marks the biggest-ever in South Korea’s release of SPR,”

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