Russia’s Rosneft recommends record dividend on 2021 results
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
EU’s Borrell hopeful of deal on Russian oil ban
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
EU summit to agree sanctions should include Russian oil embargo with pipeline exemption – draft
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
UK says Russia suffers devastating losses among lower-ranked officers
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 to service foreign debt using gas-for-roubles type scheme -Vedomosti
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 to service foreign debt using gas-for-roubles type scheme -Vedomosti
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
Serbia’s president says agrees to new 3-year gas deal with Russia
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
Europe’s Push to Punish Putin Is Falling Short of the Rhetoric
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
Russia’s Gazprom continues shipping gas to Europe via Ukraine
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
European leaders urge Putin to unblock Ukraine’s grain supplies
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
Drones. Crutches. Potatoes. Russians Crowdfund Their Army.
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
India oil cos’ $125.5 mln dividend from oil assets stuck in Russia
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
Russia Faces Biggest Debt Test Yet After US Ban on Payments
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
Russia Sends Record Volumes Of Oil To India, China
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
U.S. Seizes Russian Tanker Full Of Iranian Crude Near Greece
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
China’s Top Oil Trader Hires More Tankers to Ship Russian Crude
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
Novak Sees Russia Oil Output Shrinking 8%
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
Here’s How Russian Crude Is Finding Its Way To Customers
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 discuss swapping supplies for oil and gas, goods logistics
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
Iranian-Russian ‘Oil Smuggling’ Network Hit With U.S. Sanctions
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 to continue buying ‘cheap’ Russian oil, discount to be finalised – source
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
Europe’s Russian-Oil Snub Appears to Be Gathering Momentum
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
Rare Ship-to-Ship Transfers Keep Oil Moving From Russia to China
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
Russia’s Oil Production Has Plunged Even As Its Revenue Climbs
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
Putin’s State Oil Champion Suffers Biggest Production Drop
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
Russian oil’s Achilles’ heel: insurance
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
Russian lawmakers give initial approval to bill allowing foreign asset takeover
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 Set to Step Up Actions to Tame Rampant Ruble Rally
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
Europe accepts Putin’s ruble payment system to avoid gas cutoffs
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
Russia’s Seaborne Crude Oil Exports Keep Coming
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
German economy minister expects EU embargo on Russian oil ‘within days’ -ZDF
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
Cargoes of Russia’s flagship crude oil at sea climb to record high
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
Ruble Rally Powers on Even After Capital Controls Dialed Back
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
Russia May Ease Key FX Limit as Ruble Surge Hits Budget, Economy
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
After 3 months of war, life in Russia has profoundly changed
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
Discounted Russian crudes entice China independents, no rush on SPR purchases
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
Russia’s Gazprom says gas transit via Ukraine down at 43 mcm
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 signals support for Russia’s role in Opec+ as sanctions pressure mounts
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 likely facing Uncrewed Aerial Vehicles shortage, UK says
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
Kazakhstan Cuts Iron Supplies To Russian Steelworks
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 suspends gas supplies to Finland’s Gasum
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
Russia’s Economic Outlook Grows ‘Especially Gloomy’ as Prices Soar
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
Russia’s Economy Slowed Down More Than Expected in First Quarter
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
Omens of Decline for Russia’s Once World-Leading Energy Industry
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
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
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