Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian Prisoners' Information Office: Four of his ribs were broken
Palestinian Prisoners' Information Office: Marwan al-Barghouti lost consciousness after a brutal assault by Israeli occupation soldiers
Al Mayadeen's correspondent: Israeli violations in the Gaza Strip have not stopped, and just a short while ago, fishermen came under fire from boats
Al Mayadeen's correspondent: Israeli occupation forces carry out a large explosion in the eastern neighborhood of the town of Mays al-Jabal in southern Lebanon.
Israeli media: Israeli political leadership decides to open Rafah crossing “as planned” and transfer aid to Gaza Strip.
Palestinian media: Three Palestinians were killed after being targeted by Israeli drone fire in the al-Shujaiya neighborhood east of Gaza City
Nicolas Maduro: The Palestinian cause is the most sacred cause for humanity, and we propose sending teams of builders, farmers, and doctors to Gaza to help the people
Al Mayadeen's correspondent in Lebanon: IOF infiltrate Khallet Wardeh towards the municipality in the town of Aita al-Shaab, south of Lebanon.
Leaders of the United States, Egypt, Qatar, and Turkey sign a ceasefire agreement in Gaza.
Trump arrives in Sharm el-Sheikh

Oil giant Eni to replace Russian oil with alternative sources

  • By Al Mayadeen Net
  • Source: Agencies
  • 11 Mar 2022 22:02
  • 1 Shares
3 Min Read

The EU is looking for ways to limit the effect of the rise of gas prices on electricity prices, and Italian oil giant Eni says it will replace Russian oil through the international market.

  • x
  • Italian oil giant Eni announced its plans to stop making new oil supply contracts with Russia
    Italian oil giant Eni announced its plans to stop making new oil supply contracts with Russia

The EU Commission President Ursula von der Leyen confirmed Friday that the European Commission will present by the end of March options on how to limit the impact of rising gas prices on the cost of electricity in the EU.

"By the end of this month, the commission will present options to limit the effect of the rise of gas prices to electricity prices," she said at a press conference.

Eni to replace Russian oil with alternative sources

Earlier, Italian oil giant Eni announced its plans to stop making new oil supply contracts with Russia and replace Russian oil through the international market.

"Eni has halted the conclusion of new contracts for the supply of crude oil from Russia. Supply contracts finalized before the current crisis remain in place," it indicated in a statement.

Related News

Pfizer CEO urges closer US-China collaboration in biopharma

Cuba confirms departure of Jose Daniel Ferrer to Miami

The company pointed out that it is "carrying out commercial and logistical assessments on a load-by-load basis. In 2021, only 18% of the crude oils processed by Eni were of Russian origin."

The oil giant revealed its plans "to replace these quantities by sourcing from the international market," it emphasized in Friday's statement.

"Eni intends to sell its stake in the Blue Stream pipeline, currently held on a joint and equal basis with Gazprom. Blue Stream connects Russia to Turkey via the Black Sea," the statement highlighted.

5 to 10 years to match Russia's daily oil production

The Italian company's decision comes as British Foreign Minister Liz Truss on Wednesday called on the entire G7 to ban Russian oil imports, copying America's step when President Joe Biden took the decision to ban the oil imports from Russia into the country.

In this regard, former Texas industry regulator Ryan Sitton said the world community would require five to 10 years to match Russia's daily production of millions of barrels of oil, according to Sputnik.

On Tuesday, Biden issued a US-only ban on Russian oil imports, further isolating a country that provides 10% of global supply on its own.

According to the Energy Information Administration (EIA), Russian oil made just a small percentage of US imports last year, but the change sent crude and gas prices soaring to new highs.

  • United States
  • Moscow
  • Eni
  • G7
  • Russia
  • Italy
  • US
  • Liz Truss
  • Oil
  • Oil Production
  • UK
  • Oil prices
  • Joe Biden
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Iran strikes secret Israeli-US bunker under Tel Aviv high-rise

Tel Aviv high-rise struck by Iran hid Site 81, secret US-Israeli base

  • Politics
  • 14 Oct 2025
Palestinian journalist Saleh al-Jaafarawi in an undated image in Gaza, occupied Palestine (Social media)

Gaza Palestinian journalist Saleh al-Jafarawi killed by collaborators

  • Politics
  • 12 Oct 2025
Taylor Swift: The Life of a Showgirl

The Life of a No-Girl: The one verse Taylor Swift refuses to sing

  • Arts and Culture
  • 8 Oct 2025
drop site

New report details extensive Israeli arson in Gaza after ceasefire

  • Politics
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Freed Palestinian detainee al-Arida expresses gratitude to Al Mayadeen.
Politics

Freed Palestinian detainee Mahmoud al-Arida salutes Al Mayadeen

Prime Minister of Spain Pedro Sánchez gestures as he speaks at the Global Progress Action Summit, in London, Friday, September 26, 2025 (AP)
Politics

Spain to maintain arms embargo on ‘Israel’ despite ceasefire

Israeli excavators work in the Gaza Strip as the sun sets, seen from southern occupied Palestine, Tuesday, Oct. 14, 2025 (AP)
Politics

Palestinian clans condemn chaos in Gaza, back security forces

The sun sets behind buildings destroyed during the Israeli aggression in the northern Gaza Strip, as seen from southern occupied Palestine, Tuesday, October 14, 2025 (AP)
Politics

Israeli regime cuts Gaza aid to 300 trucks, blocks fuel and gas

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS