Australia is to become the seventh country in the world to introduce nuclear-powered submarines to its naval fleet, as part of a newly brokered deal between the United States, the United Kingdom and Australia (AUKUS), reports Statista. The US has said it will sell Australia three US Virginia-class nuclear-powered submarines …
Read More »Rosatom’s Nuclear Exports Surge in 2022
Russia’s nuclear exports were already booming well before the war in Ukraine started but now they are growing even faster. After the disaster of Chernobyl in the 80s, Russia has fully modernised its nuclear technology and switched to the VVER 1200 reactors (water-water energetic reactor) that are compliant with the …
Read More »Oil Tanker Jam Forms in Turkey as Russian Oil Price Cap Disrupts Markets
An oil tanker traffic jam has formed in Turkey following the EU’s introduction of a price cap on global Russian crude supplies, the Financial Times reported on December 5, with Turkish authorities demanding new proof of full insurance coverage for vessels passing through the Bosphorus and Dardanelles straits. The EU, …
Read More »Germany Says Putin has Agreed to Keep Payments for Gas in Euros
German Chancellor Olaf Scholz has announced that Russian President Vladimir Putin has climbed down from a demand that Europe pay its gas bills in rubles and will allow payment in euros for the meantime, Deutsche Welle (DW) reported on March 30. The Russian leader said money would be paid into …
Read More »Rosneft Announces Energy Transition Strategy as Climate Conference Approaches
Russian state oil major Rosneft is developing a new strategy centred on the transition to renewable energy resources. The move was announced by CEO Igor Sechin at the Eurasian Economic Forum in Verona, Vedomosti reports. “We are currently developing a new company strategy, with the central priority of adapting to …
Read More »Germany: Nord Stream 2 Poses no Threat to European Energy Security
Germany’s government has determined that the Nord Stream 2 poses no threat to European energy security, clearing a key obstacle to the pipeline’s commercial launch. Whether or not the pipeline is considered an energy security risk will be a key consideration as German energy regulator Bundesnetzagentur decides whether or not …
Read More »OPEC+ Cuts Deep into Global Supply, but not Deep Enough
OPEC and its allies have finalized an historic deal to take 9.7mn barrels per day (bpd) of oil supply off the market – just under 10% of global production – to help the industry through its worst crisis in a century. Following emergency talks on April 9, the group originally …
Read More »Gazprom Expects the Considerable Rise in LNG Production This Year
Gazprom estimates that its share of the European gas market grew to 36.7% in 2018.
Read More »Turkmenistan Stops Oil Exports due to Vitol and SOCAR Clash
Some traders say the decision was driven by pricing disagreements.
Read More »Gazprom will Invest $1.4bn in Serbia by 2025
Construction of the DCC is an investment whose value exceeds €300mn.
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