In a statement to Reuters, it was stated that Algeria will supply 4 billion cubic meters (bcm) of gas to Italy this year, in addition to the 21 billion cubic meters planned earlier this year.

The source said that state oil producer Sonatrach plans to start increasing supplies to Italian customers, including Eni, next week. Tighter global energy markets have increased demand for Algerian gas.

Sonatrach is already an important gas supplier to countries including Italy, Spain and Portugal, and stated that it is reviewing gas prices with all its customers to take advantage of the appropriate market.

Algeria to Provide Italy with Additional Gas Official Source Says | Devamı>>>

BP is abandoning its stake in Russian oil giant Rosneft in an abrupt and costly end to three decades of operating in the energy-rich country, marking the most significant move yet by a Western company in response to Moscow’s invasion of Ukraine.

Rosneft accounts for around half of BP’s oil and gas reserves and a third of its production and divesting the 19.75% stake will result in charges of up to $25 billion, the British company said, without saying how it plans to extricate itself.

BP Quits Russia in Up to $25 Billion Hit After Ukraine Invasion | Devamı>>>