European Union leaders agreed to pursue a partial ban on Russian oil, paving the way for a sixth package of sanctions to punish Russia and its president, Vladimir Putin, for Continue Reading
European Union leaders handed Hungary concessions to agree an oil embargo on Russia over its invasion of Ukraine, sealing a deal in the wee hours on Tuesday that aims to Continue Reading
Russia widened its gas cuts to Europe on Tuesday with energy giant Gazprom (GAZP.MM) turning off supplies to top Dutch trader GasTerra escalating the economic battle between Moscow and Brussels. Continue Reading
Europe’s race to replace Russian gas supply has threatened Australia’s plans for five gas import terminals as they compete for key infrastructure, raising the risk of a supply shortfall in Continue Reading
The European Union’s decision to cut 90% of its oil imports from Russia will accelerate a move already underway – that is Moscow trying to sell as much crude as Continue Reading
The London Stock Exchange said on Tuesday it has canceled securities of Russian energy company Gazprom (GAZP.MM) from admission to trading at the company’s request. Gazprom said earlier this month Continue Reading
European leaders, who will convene in Brussels on Monday and Tuesday for an EU summit, will not decide on imposing a cap on gas prices but could mandate the Commission Continue Reading
Some of the British coal-fired power plants slated for closure this year might need to stay open to ensure electricity supply this winter, the government said on Monday. Countries across Continue Reading
Eurozone inflation rose faster than expected in the year to May, setting a new record for the single currency bloc of 8.1 percent and piling pressure on the European Central Continue Reading
Natalia Klyueva started her hunt for a new Moscow job in February — just before Russia’s invasion of Ukraine and the west’s wave of retaliatory sanctions. Three months later, the Continue Reading
The pound has lost ground against most key rivals this year © Charlie Bibby/FT A duo of Wall Street banks is warning on the “grim” outlook for the pound, predicting Continue Reading
As Russian and Ukrainian forces traded blistering artillery barrages and engaged in fierce fighting across towns and villages in eastern Ukraine, European Union leaders gathered on Tuesday for the second Continue Reading
Denmark has joined the list of countries refusing to pay for Russian gas using a ruble conversion scheme, prompting the country’s state-run gas company on Monday to warn that Gazprom Continue Reading
Russian sea exports to Asia hit 2.3 mbpd – Petro-Logistics U.S. crude discharges in Europe hit record in May – Kpler Russian oil exports back at pre-invasion levels – IEA Continue Reading
Russian oil producer Rosneft (ROSN.MM) said on Monday that it would pay a record dividend of 41.66 roubles ($0.63) per share on its 2021 results, or 50% of its net Continue Reading
European Union members should be able to reach an agreement on a new sanctions package against Russia, including imposing restrictions on Russian oil imports, during talks being held by officials, Continue Reading
European Union leaders are due to agree at a summit later in the day that the sanctions package under preparation should include an embargo on Russian oil imports as punishemnt Continue Reading
Russia appears to have suffered devastating losses amongst mid- and junior-ranking officers in its conflict with Ukraine, raising the prospect of weaker military effectiveness in future, Britain’s defense ministry said Continue Reading
Russia plans to settle its Eurobond obligations using a mechanism similar to the scheme used to pay for Russian gas in roubles, the Vedomosti newspaper reported, citing Finance Minister Anton Continue Reading
Russia plans to settle its Eurobond obligations using a mechanism similar to the scheme used to pay for Russian gas in roubles, the Vedomosti newspaper reported, citing Finance Minister Anton Continue Reading
Europe’s unity on sanctions against Russia is “starting to crumble”, Germany’s economy minister has warned as diplomats highlight continued divisions over a package of sanctions set to be discussed by Continue Reading
Price, volumes yet to be finalized Current contract linked to oil prices Kremlin says Russia agreed to uninterrupted supplies to Serbia Serbian President Aleksandar Vucic said May 29 that a Continue Reading
The new UK oil and gas upstream levy will hit Big Oil group cash flows by less than four percent, even at the most exposed end. That’s what BofA Global Continue Reading
As the European Union’s impasse over its supposedly imminent Russian oil embargo stretched into days and then weeks, one ambassador quoted Samuel Beckett’s play “Waiting for Godot” to his colleagues: Continue Reading
Russian gas producer Gazprom (GAZP.MM) said on Sunday its supply of gas to Europe through Ukraine via the Sudzha entry point stood at 44.1 million cubic metres (mcm), up from Continue Reading
Ukrainian Defence Minister Oleksii Reznikov attends a meeting with Ukraine’s President Volodymyr Zelenskiy, U.S. Secretary of State Antony Blinken and U.S. Defense Secretary Lloyd Austin, as Russia’s attack on Ukraine Continue Reading
European leaders have stepped up diplomatic efforts to loosen Russia’s hold on Ukraine’s grain supplies as Kyiv’s prospects in the eastern Donbas region worsen and the risk of a global Continue Reading
Ukraine has declared that it is mounting a counteroffensive to reclaim territory around the southern port city of Kherson, as Russia devotes the bulk of its forces to pounding eastern Continue Reading
Russian soldiers in April in downtown Mariupol, Ukraine. There is growing recognition among Russians that their military was woefully underprepared for major conflict.Credit…Sergei Ilnitsky/EPA, via Shutterstock Natalia Abiyeva is a Continue Reading
Iran’s paramilitary Revolutionary Guard seized two Greek oil tankers Friday in helicopter-launched raids in the Persian Gulf, officials said. The action appeared to be retaliation for Athens’ assistance in the Continue Reading
Indian companies with stakes in two Russian assets are unable to repatriate 8 billion roubles ($125.49 million) in dividends due to tough western sanctions, an official at Oil India Ltd Continue Reading
EU countries scrambled on Friday to reach a deal that would embargo seaborne deliveries of Russian oil but still allow deliveries by pipeline, a compromise to win over Hungary and Continue Reading
Russia’s ability to sidestep its first foreign default in a century is turning more fraught as another payment comes due on the warring nation’s debt. Investors are supposed to receive Continue Reading
India and China have stepped up purchases and are importing record volumes of Russian crude. some Chinese state giants haven’t ramped up imports of spot cargoes from Russia despite steep Continue Reading
Fresh off of the US targeting a series of companies involved in an Iran-linked oil smuggling network , the US has now seized an oil tanker near Greece, taking the Continue Reading
Equinor’s Hammerfest LNG unit in Norway has been restarted after a September 2020 fire took it offline, the company reported on Friday. The unit is capable of producing 4.65 million Continue Reading
The European Union is drafting contingency plans in case of natural gas supply interruptions, the Financial Times has reported , citing the European Commissioner for Energy, Kadri Simson. According to Continue Reading
Russia’s invasion of Ukraine has triggered a shift in European power production sources and forced the governments to rethink their long-term energy policies. The European Union is now on track Continue Reading
China’s oil trading giant Unipec has significantly increased the number of hired tankers to ship a key crude from eastern Russia. China International United Petroleum & Chemical Co., better known Continue Reading
Windfall Taxes Will Raise Price of Crude, Analyst Sen Says BP Plc said it will look again at its plans in the UK, raising questions about whether a £5 billion Continue Reading
Windfall Taxes Will Raise Price of Crude, Analyst Sen Says BP Plc said it will look again at its plans in the UK, raising questions about whether a £5 billion Continue Reading
UK’s Sunak Set to Unveil Cost of Living Support UK households’ disposable income has fallen by the most since 2008, according to grocer Asda Group Ltd. , underlining the extent Continue Reading
Russian Deputy PM Novak sees crude oil production fall by around 8% in 2022. Novak: The total oil output of the country this year could be between 480 and 500 Continue Reading
Spain passed a decree this week limiting the use of air conditioning in public buildings as part of a strategy to conserve energy and reduce Europe’s dependence on Russian gas. Continue Reading
Small tankers and ship-to-ship transfers are being used to keep the flow of Russian oil to China steady, Bloomberg reported this week, citing sources from the brokering industry. Typically, the Continue Reading
Russia and Iran have discussed swapping supplies for oil and gas as well as setting up a logistics hub, Russian Deputy Prime Minister Alexander Novak said on Wednesday, as Moscow Continue Reading
Washington has imposed sanctions on an oil smuggling network led by figures connected to Iran’s Revolutionary Guards and allegedly backed by the Russian government. “Today, the U.S. is sanctioning an Continue Reading
India will continue to buy “cheap oil” from Russia but has not finalised terms of the discount, a senior government official familiar with the matter said on Wednesday. “We will Continue Reading
After making it through the spring planting season, sometimes with the help of bulletproof vests and helmets, Ukraine’s farmers are facing another challenge – finding enough diesel for the harvest Continue Reading
taly and Hungary have urged the EU to call explicitly for a ceasefire in Ukraine and peace talks with Russia, putting themselves at odds with other member states determined to Continue Reading
