Germany and Italy have allowed national companies to open ruble accounts in Russia’s Gazprombank to comply with the new natural gas payment scheme and avoid a supply cut-off, Reuters reported on Friday, citing sources. The move comes after Poland, Bulgaria and most recently Finland refused to accept Russia’s new payment …

European-born executives at Rosneft quit the Russian oil giant days before the EU sanctions banning European citizens from working at the state-held Russian firm entered into force, Reuters reported on Friday, quoting six sources with knowledge of the matter. The departure of the five now-former executives at Rosneft could stall …

During the UN 2021 COP26 conference in Glasgow, there were several divergent views on how to mitigate climate change. Natural gas production was a serious bone of contention. Specifically, Europe led the campaign advocating for a decline in natural gas investments in favor of renewable energy. Most developing countries took …

The European Union is unlikely to reach a unanimous decision on the idea the U.S. has floated for cutting Putin’s oil revenues—a tariff on Russian oil, a senior official told Argus on Friday. Basically, an EU-wide agreement on a tariff is likely to be as difficult to reach as a …

China landed record-high volumes of Saudi crude in April as the world’s biggest oil importer increased its dependence on the Middle East, even though its overall crude imports have plunged this year. The spike in Saudi imports was probably attributable in part to official Saudi selling prices that were well …

Russia’s Gazprom halted gas exports to neighbouring Finland, the latest escalation of an energy payment dispute with Western nations. Gazprom Export has demanded that European countries pay for Russian gas supplies in roubles because of sanctions imposed over Moscow’s invasion of Ukraine. But Finland refused to do so. “Gas imports …

Iraq’s efforts to control revenue collected by the Kurdistan Regional Government (KRG) have extended to requests for oil and gas firms operating in the semi-autonomous region to sign new contracts with state-owned marketer SOMO rather than the KRG. Oil Minister Ihsan Ismael on May 7 said Iraq’s oil ministry would …

The European Commission has today presented the REPowerEU Plan, its response to the hardships and global energy market disruption caused by Russia’s invasion of Ukraine. There is a double urgency to transform Europe’s energy system: ending the EU’s dependence on Russian fossil fuels, which are used as an economic and …

Around half of Gazprom PJSC’s foreign clients have complied with a request from Russia’s president to open accounts with Gazprombank JSC, according to Deputy Prime Minister Alexander Novak. The shift in procedure follows a demand by Vladimir Putin in March that foreign buyers open ruble and foreign-currency accounts at the …

Around half of Gazprom PJSC’s foreign clients have complied with a request from Russia’s president to open accounts with Gazprombank JSC, according to Deputy Prime Minister Alexander Novak. The shift in procedure follows a demand by Vladimir Putin in March that foreign buyers open ruble and foreign-currency accounts at the …