Producers of Russian crude are finding it increasingly difficult to sell barrels in their traditional European market since President Vladimir Putin launched an assault on Ukraine. While the European Union has Continue Reading
A day after declaring a state of emergency, Hungarian leader Viktor Orban said on Wednesday that big companies operating in the country, including energy companies, would be forced to turn Continue Reading
French nuclear generation remained on course for a record-low May output despite the return of the Tricastin 2 reactor after a five-week refueling outage, system data showed May 25. Receive Continue Reading
A logistically risky and costly transfer of crude between tankers at sea highlights the steps at least one Chinese buyer is willing to take to ensure the smooth flow of Continue Reading
Gerhard Schroeder has backed off from taking a top role at Russian energy giant Gazprom (GAZP.MM) , dealing a setback to Germany’s gas lobby as it seeks to keep the Continue Reading
The European Union can still strike a deal on a Russian oil embargo in the coming days or look to “other instruments” if no agreement is reached, Germany’s economy minister Continue Reading
The European Union is working on a deal to import Israeli gas through Egypt as the bloc rushes to reduce its reliance on Russian supplies. The fuel would be converted Continue Reading
Russia said it’s opening corridors for shipping from seven Ukrainian ports amid growing international criticism of an unfolding global food crisis triggered by its blockade. Kyiv warned that security issues Continue Reading
As the economic pain of the war weighs on Russia, the country’s central bank slashed interest rates on Thursday, the latest in a raft of measures by Moscow aimed at Continue Reading
A combination of sanctions and an oil major exodus in the wake of its invasion of Ukraine has caused Russian oil production to plunge. While higher oil and natural gas Continue Reading
The EU’s ambitious plan to reduce its dependency on Russian fossil fuels is going to require at least €1 trillion in investment. In order to achieve the goals they have Continue Reading
The European Union is considering the idea of a construction of an offshore gas pipeline between Spain and the Italian coast in Tuscany to reduce the EU’s reliance on Russian Continue Reading
TotalEnergies (TTEF.PA) said on Wednesday it has agreed to buy 50% of Clearway Energy Group, the fifth-largest renewables company in the United States, marking the French group’s largest U.S renewables Continue Reading
The state-run oil champion led by a close ally of President Vladimir Putin has seen the largest drop in production since the invasion of Ukraine. Rosneft PJSC , whose Chief 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
Russia has so far deflected much of the impact of sanctions on its oil trade but the insurance industry threatens to throw a spanner in the works unless Moscow and Continue Reading
A solution to food problem requires vast approach – Moscow This includes lifting of some sanctions from Russia – Moscow Moscow is in touch with the UN on the issue Continue Reading
Russian lawmakers on Tuesday gave the first stamp of approval to a bill that would allow Russian entities to take over foreign companies that have left the market in opposition Continue Reading
Russia is racing to stem a rally in the ruble and is set to accelerate interest-rate cuts as the currency’s advance to a four-year high against the dollar damages government Continue Reading
Newly declassified U.S. intelligence shows that a Russian naval blockade has halted maritime trade at Ukrainian ports, in what world leaders call a deliberate attack on the global food supply Continue Reading
European energy companies appear to have bent to Russian President Vladimir Putin’s demand that they purchase natural gas using an elaborate new payment system, a concession that avoids more gas Continue Reading
Highlights Qatari delegation in UK for new cooperation talks Qatar already key supplier of LNG to UK market Talks also set to focus on UK gas storage Energy remains at Continue Reading
Can the EU Really Survive Without Russian Gas? Russia’s seaborne crude exports are flowing unabated, despite European Union regulations that prohibit dealings with the country’s state energy companies. Shipments persist Continue Reading
The European Union plans to start jointly buying gas before winter, the bloc’s energy policy chief said on Monday, as it seeks to cut reliance on Russian fossil fuels and Continue Reading
The European Union will likely agree an embargo on Russian oil imports “within days,” Germany’s economy minister said on Monday, but making a dent in Russia’s war chest may require Continue Reading
Some 62 million barrels of Russia’s flagship Urals crude oil, a record amount, are sitting in vessels at sea, data from energy analytics firm Vortexa showed, as traders struggled to Continue Reading
The UK economy faces an increased risk of falling into a recession as firms and households buckle under the fastest inflation rate in four decades, according to a closely watched Continue Reading
Russia’s currency extended a rally that’s taken it to the strongest level versus the dollar in four years, prompting a warning from one of President Vladimir Putin’s staunchest allies that Continue Reading
German Economy Minister Robert Habeck has warned Hungary against blocking efforts to impose a European Union-wide embargo on Russian oil imports in response to the war in Ukraine. “There are Continue Reading
Russia is considering a plan to ease a key control on capital flows which has helped drive the ruble to the highest levels in four years. With the rally now Continue Reading
When Vladimir Putin announced the invasion of Ukraine, war seemed far away from Russian territory. Yet within days the conflict came home — not with cruise missiles and mortars but Continue Reading
Highlights Independent refineries attracted by heavily discounted Urals Prices are still above Beijing’s expectations to replenish SPRs Run rates at independent refiners recover as margins improve Hefty discounts on Russian Continue Reading
Russian gas producer Gazprom (GAZP.MM) said it continues to supply gas to Europe through Ukraine via the Sudzha entry point, with volumes on Monday seen at 43 million cubic metres Continue Reading
Saudi Arabia has signalled it will stand by Russia as a member of the Opec+ group of oil producers despite tightening western sanctions on Moscow and a potential EU ban Continue Reading
Russia is likely experiencing a shortage of appropriate reconnaissance Uncrewed Aerial Vehicles (UAVs), which it has attempted to use to identify targets to be struck by combat jets or artillery, Continue Reading
International sanctions on Russia appear to be working. Kazakhstan’s biggest iron ore-enricher has cut supplies to Russian steelworks. A growing number of Kazakh businesses are growing wary of contagion from Continue Reading
Russia’s Gazprom suspended natural gas supplies to Gasum on May 21 after the Finnish company refused to pay for Russian gas in rubles, the two companies said in separate statements. Continue Reading
After sanctions hobbled production at its assembly plant in Kaliningrad, the Russian automaker Avtotor announced a lottery for free 10-acre plots of land — and the chance to buy seed potatoes — Continue Reading
Putin: Western Sanctions Will Provoke Global Crisis Bloomberg News Russia’s economic growth slowed in the first quarter, as the initial impact of sanctions imposed following President Vladimir Putin’s invasion of Continue Reading
It was to be a hugely ambitious project on the frigid Gulf of Ob, in Russia’s Far North, a steppingstone in Moscow’s rising ambitions to be a power in liquefied Continue Reading
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’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
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
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 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 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
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
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
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
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
