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The Latest Breaking News from Rosneft

Gerhard Schröder to be stripped of privileges for not cutting ties with Russia

Former German chancellor, who holds positions at Rosneft and Nord Stream, will lose staff and office

The Guardian - UK

German ex-chancellor Schroeder under EU pressure to quit Rosneft

The European Parliament is set to urge the blacklisting of former German Chancellor Gerhard Schroeder if he does not quit as a board member of Russian state-owned oil company Rosneft.

Reuters

Before a Fiji court: Can the U.S. seize a Russian yacht in the South Pacific?

The case of a yacht detained in the South Pacific island nation is raising questions about how far U.S. jurisdiction extends.

WEKU

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Morning Brief: Top Financial Stories Dominating on Wednesday, May 18

CNBC Toyota Looks To Develop Hydrogen Mobility In Europe

Benzinga

JPMorgan No More A Depositary For Russia-Based Rosneft's GDRs

JPMorgan & Chase (NYSE:JPM) has resigned as a depositary of global depositary receipts (GDR) of Russia's largest oil producer Rosneft (OTC:RNFTF), Reuters reported. Last month, JPMorgan & Chase started to allow holders of depositary receipts in Russian companies to cancel them, two sources familiar with the matter said, giving some investors a way to…

Benzinga

‘Straw owner’ hides $1 billion worth of Russian yachts, US says

In the race to seize assets tied to sanctioned Russian billionaires, U.S. authorities are alleging that a Russian tycoon acted as the “straw owner” of two yachts worth more than $1 billion, including the $700 million Scheherazade, a superyacht linked to Russian President Vladimir Putin.

Tribune News Service

Russian minister imprisoned for oil-related bribery released

The highest-ranking Russian official to go to prison in nearly two decades has been released after serving more than half of an eight-year sentence for bribery

The Independent UK

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Oil refinery workers caught in Germany's energy dilemma

Schwedt (Germany) (AFP) - Germany is seeking to ban Russian oil by the end of this year over the war in Ukraine, but workers at the PCK oil refinery outside Berlin are less than happy about the plans.

AFP

Windfall tax wouldn’t stop BP’s £18bn parade of projects

Neither would it make the energy crisis go away, but after a while it becomes hard to resist

The Guardian - UK

BP Shares Move Higher On Bumper Q1 Profits Of $6.2B, Announces $2.5B Share Buyback

BP plc’s (NYSE:BP) profits more than doubled to $6.2 billion in Q1, helped by soaring oil and gas prices, despite posting a massive loss after offloading its nearly 20% stake in a Russian-controlled oil company Rosneft (OTC: RNFTF). The company reported Q1 adjusted EPS of $1.92, more than double from $0.78 posted a year ago…

Benzinga

BP profits skyrocket amid demands for windfall tax to tackle cost of living

BP has notched up its highest quarterly underlying profits for more than a decade thanks to rocketing oil and gas prices as calls grow for a…

The National (Scotland)

BP promises to ‘back Britain’ with £18 billion as profits hit highest since 2008

The oil giant made an underlying profit of $6.2 billion in the first three months of the year, far higher than the City was expecting

Evening Standard

BP plunges deep into red on pullout from Russia

London (AFP) - British energy giant BP said Tuesday that its decision to pull out of Russia as a result of the war in Ukraine pushed it deep into the red in the first three months of this year.

AFP

BP plunges into $20.4-bn loss on Russia exit

London (AFP) - British energy giant BP on Tuesday plunged into a huge net loss in the first quarter after it decided to exit Russia over the country's invasion of neighbour Ukraine.

AFP

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The Guardian - UK

UK factories raise prices at record pace; windfall tax calls grows as BP earnings swell – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

BP profits double to $6.2bn, fuelling calls for energy windfall tax

Results are ‘obscene’, say unions, after soaring oil and gas prices help company to beat forecasts

Evening Standard

BP’s £5bn profit triggers fresh calls for energy windfall tax

BP posted its best quarterly earnings in more than a decade as the government comes under pressure to do more to ease the cost of living crisis

Investors Business Daily

Oil Stocks Shell, ConocoPhillips Fall Despite Earnings Beat As OPEC Sticks To Modest Output Increase

Shell and ConocoPhillips topped expectations as OPEC sticks to modest output increase.

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The Guardian - UK

High energy prices leave oil giants untroubled by Russia exit or tax hints

BP and Shell are expected to report increased profits this week despite taking a big hit from the war in Ukraine

The Independent UK

Russian ex-minister jailed for bribery granted parole

Russia’s former economic development minister sentenced for eight years on bribery charges has been granted parole

The Hindu

Govt asks state-run petroleum firms to consider buying Russian oil assets

The call on companies to explore buying the stake in Rosneft came after BP CEO Bernard Looney met Petroleum Minister Hardeep Singh Puri in March

AFP

Future in balance for German refinery fed on Russian oil

Schwedt (Germany) (AFP) - The PCK refinery in the German town of Schwedt has been processing crude oil from Russia since before reunification, but with a ban on Russian oil looming its future could be in doubt.

The Independent UK

Putin’s lapdog wears Prada: Chechen leader Kadyrov poses on TikTok while his men kill civilians in Ukraine

Beyond the brutality and bloodshed associated with Chechnya’s militia, Ramzan Kadyrov is using Russia’s war and posturing on social media to boost his standing with Vladimir Putin, reports Borzou Daragahi

Reuters

In France, a seized superyacht creates headaches, not just for its owner

In a quiet corner of the French Riviera, La Ciotat Shipyards said it is writing bills for mooring fees for the towering white superyacht Amore Vero, but it doesn't know who to send them to.

Daily Mirror

Lithuania first country to stop using Russian gas in milestone anti-Ukraine war move

The Lithuanian Government announced that from the start of April the country has been operating without Russian gas before slamming the EU - which gets 40% of its crude from Gazprom - for failing to cut off its reliance on Russian energy

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