Wednesday, February 5, 2025
Exxon declares force majeure on Russian Sakhalin-1 operations- oil and gas 360

Exxon declares force majeure on Russian Sakhalin-1 operations

Yahoo Finance Exxon Mobil Corp said on Wednesday that its Russian unit Exxon Neftegas Ltd has declared force majeure for its Sakhalin-1 operations, where it has become increasingly difficult to ship crude out of due to sanctions on Russia. The Sakhalin-1 project produces oil off the coast of Sakhalin Island in the Russian Far East. Exxon is discontinuing its operations

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories increase by 0.7 million barrels

Weekly Crude Oil Storage as of April 22, 2022   U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.7 million barrels from the previous week.  At 414.4 million barrels, U.S. crude oil inventories are about 16% below the five year average for this time of year, according to the EIA crude oil and petroleum