EU reveals its plans to stop using Russian gas
The European Commission has given more details on how it plans to end Europe’s dependence on Russian fossil fuels. Russia supplies 40% of the EU’s natural gas and 27% of Continue Reading
Russia Increasingly Using Own Oil Tankers To Boost Shipments To Asia
Russia’s state-owned oil producers Rosneft and Gazprom Neft have started to use tankers of local state tanker operator Sovcomflot to ship their crude to Asia, Bloomberg reported on Wednesday, quoting Continue Reading
Russian hydrocarbons output, exports to drop significantly following Ukraine invasion
Oil production to fall nearly 10% to around 9.55 million b/d Oil exports to fall 1.2%; oil products to drop by 20% The Russian Economy Ministry forecasts Russian hydrocarbons output Continue Reading
EU lays out Russian gas reduction plan, focus on new supply and renewables
The European Commission unveiled a more detailed plan May 18 to diversify its energy supplies away from Russia and to accelerate the expansion of clean energy with key focus on Continue Reading
Russia to send oil rejected by Europe to Asia, other regions, says Novak
Russia will send any oil rejected by European countries to Asia and other regions, Deputy Prime Minister Alexander Novak said on Thursday, adding that Europe would have to find substitute Continue Reading
Half of Gazprom’s 54 clients opened Gazprombank accounts, says Russia’s Novak
Half of Russian gas giant Gazprom’s (GAZP.MM) 54 clients have opened accounts at Gazprombank, Deputy Prime Minister Alexander Novak said on Thursday, as Moscow seeks to compel its clients to Continue Reading
Russian oil output up 200,000-300,000 b/d in May, recovery to continue in June
Highlights Ukraine invasion affecting Russian oil output Russia redirecting crude supplies from Europe to Asia Russian deputy prime minister Alexander Novak said May 19 that after a fall of 1 Continue Reading
U.S. considering move to block Russian debt payments -Treasury
The United States is considering blocking Russia’s ability to pay its U.S. bondholders by allowing a key waiver to expire next week, a U.S. administration official said on Tuesday, which Continue Reading
How Germany Is Racing to Sever Dependence on Russian Energy
Days after taking office as Germany’s vice-chancellor and economy minister in December, Robert Habeck asked his most senior officials for a detailed assessment of his country’s dependence on Russian energy. Continue Reading
The Swiss Connection: How Russia Is Weathering Tough Sanctions
Continued oil and gas exports as well as a propped-up ruble, have allowed Moscow to weather Western sanctions. JPM has backtracked on its earlier forecasts of a 35% contraction in Continue Reading