Russia’s oil production averaged 11.126 million bpd between May 1 and 26.
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Nord Stream 2 will allow Russia to force terms for gas supply and transit both to Europe and Ukraine.
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For Iraq. which did $12 billion in trade with Iran last year. the impact would be particularly dire.
Read More »Gas Supplies to Europe to Grow by 10-15% in Next 5-10 Years
The Ukrainian gas transportation system will be loaded in the next 5-10 years.
Read More »Naftogaz Proposes Gazprom to Dialogue on Terms of Future Transit
Earlier Deputy Chairman of Gazprom Alexander Medvedev said he did not understand with whom from the Ukrainian side it is necessary to negotiate on this issue.
Read More »U.S. to Overtake Russia as Top Oil Producer by 2019
On the demand side. Birol said the IEA expected growth of around 1.4 million bpd in 2018.
Read More »Ukraine Ready to Resume Purchases of Russian Gas if It Is Cheap
Naftogaz Ukrainy had recently won a lawsuit against Russia'.s Gazprom at the Arbitration Institute of the Stockholm Chamber of Commerce.
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