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Explainer: What do Russia’s oil giants own overseas?
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
Tax policy will shape Russia’s oil future
The consensus among market observers is that the country’s oil output will fall in the long term. Yet few recognise how Moscow’s shifting tax regime is designed to keep the next barrel commercially viable
The curious case of oil-on-water
The market is facing being drowned in excess crude, but one caveat is that a large chunk is due to buyers reluctant to snap up sanctioned barrels
Lukoil loses its growth prospects
The Russian firm made a significant attempt to expand overseas over the past two decades but is now trying to divest its global operations
Explainer: How the EU will wean itself off Russian gas
Questions remain about how the phase-out will be implemented and enforced in practice
Arctic LNG comes in from the cold
Beijing now appears prepared to accept discounted Russian LNG, even at the cost of heightened sanctions risk
Russia’s fuel crisis: Difficult but not catastrophic
International and opposition media claim that two-fifths of the country’s refining capacity is offline, but the true situation is not so dire
Hungary defends Russian energy use
Claims the country lacks alternatives to Russian oil and gas may be exaggerated, although higher costs and reduced security of supply are legitimate concerns.
ExxonMobil’s Russian door remains ajar
While the US oil major has declined to return given the sensitivities over Ukraine, Sakhalin 1 and other energy projects are temptations that will not go away
Russia may defy production capacity doubters
The OPEC+ producer could bring significant idle barrels to the market in the next 12 months
TotalEnergies has been criticised for a lack of divestment from Russian assets and businesses
TotalEnergies Russia France Sanctions
Peter Ramsay
24 March 2022
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TotalEnergies launches defamation action against French presidential candidate

Green Party MEP had accused the firm of complicity in war crimes due to its stance on Russia’s invasion

French major TotalEnergies will bring “without delay” a defamation suit against French MEP and Green Party presidential candidate Yannick Jadot, the firm’s head of global media relations said on LinkedIn on Wednesday. The firm has finally responded to weeks of criticism for its reluctance to follow the lead of peers such as BP, ExxonMobil, Shell and Norway’s Equinor in promising to exit Russian investments. And clearly it is in combative mood. “Words have meaning and what Yannick Jadot says is unacceptable,” Paul Naveau wrote on the social networking platform. “To be ‘complicit in war crimes’ is to provide direct assistance to a state or criminal organisation that has committed the crimes. T

Also in this section
Explainer: What do Russia’s oil giants own overseas?
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
Letter from Saudi Arabia: US-Saudi energy ties enter a new phase
Opinion
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
Letter from London: Oil’s golden triangle
Opinion
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
Libya’s upstream caught between hope and caution
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation

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