The bosses of some of the world’s biggest energy firms vowed to increase production this year as they defended themselves from accusations of profiteering from the war in Ukraine. Chiefs at ExxonMobil, Chevron, and others said in Washington that they had little power over oil prices, which have soared after Russia’s invasion. Prices remain more […]
By Jane Wakefield Technology reporter Elon Musk didn’t actually tweet about his new stake in Twitter, which for an avid tweeter seemed somewhat ironic. Maybe it was because the 9.2% he now owns is described as a passive stake, although those who know Musk do not expect it to stay that way for long. His […]
By Tom Espiner Business reporter, BBC News Russia-Ukraine war Russia has said it will not cut off gas exports to Europe yet in a standoff over its demand to be paid in roubles. Russian president Vladimir Putin signed a decree on Thursday stating buyers must pay in roubles through Russian bank accounts from Friday. […]
By Tom Espiner and Michael Race Business reporters, BBC News Russia-Ukraine war Germany and Austria have triggered emergency plans over possible gas supply disruption amid a payments stand-off with Russia. Russia had demanded “unfriendly” countries pay for its gas in roubles from 31 March, but the EU, which mainly pays in euros, rejected the […]
By Faisal Islam Economics editor Russia-Ukraine war The world’s biggest companies “have a choice to make” whether to do business in Russia or in Western allied nations, a top US politician has told the BBC. Wally Adeyemo, the US Deputy Treasury Secretary, said firms could “choose to help Russia” in its invasion of Ukraine […]
By Annabelle Liang Business reporter Russia-Ukraine war Russia is considering accepting Bitcoin as payment for its oil and gas exports, according to a high-ranking lawmaker. Pavel Zavalny says “friendly” countries could be allowed to pay in the crypto-currency or in their local currencies. Earlier this week, Russian President Vladimir Putin said that he wanted […]
By Jennifer Meierhans BBC business reporter Tesla boss Elon Musk has opened a huge electric car “gigafactory” near Berlin which is the first European hub for the firm. The plant was delayed for eight months after local authority licensing problems. The more than €5bn (£4bn) factory is the biggest investment in a German car plant […]
The state-owned oil giant Saudi Aramco plans to sharply increase the amount it invests in energy production after it reported a doubling of profits in 2021. The firm aims to boost output significantly over the next five years. Energy prices have soared in recent months as demand has outstripped supplies of oil and gas. The […]
The owner of Burger King said the operator of its 800 stores in Russia has “refused” to close the sites despite demands to suspend trading. Restaurant Brands said it had contacted its local partner, Alexander Kolobov, to shut the shops following Russia’s invasion of Ukraine. But it said “complicated” contracts with overseas partners mean it […]
By Jonathan Josephs Business reporter, BBC News Russia-Ukraine war Higher oil prices are set to lead to a 10% increase in air fares, according to the boss of one of the world’s biggest airlines. Delta Air Lines head Ed Bastian told the BBC the final impact “really depends where fuel prices settle”. Oil prices […]
