Tag Archives: Russia

Russian Rosneft Posts Nearly 50% Surge in Profits for 2023

Russian state-run oil company Rosneft has reported a nearly 50% jump in net profits for 2023, Reuters reports, hitting over $14 billion despite Western sanctions following Russia’s 2022 invasion of Ukraine. According to Reuters, Rosneft’s 2023 net profit surged by 47.2% to 1.3 trillion rubles–the equivalent of approximately $14.7 billion. …

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Austria Looks to Cut its Dependence on Russian Natural Gas

Austria, one of the few EU countries still receiving Russian natural gas by pipeline, is looking to reduce its dependence on Moscow, including by seeking to end a long-term deal that Austria-based energy giant OMV has with Gazprom, Austrian Energy Minister Leonore Gewessler said on Monday. “Austria has become massively …

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Russia’s Arctic LNG 2 will not Start Shipments until March

Novatek, Russia’s largest producer of liquefied natural gas (LNG), will start loading first cargo from the Arctic LNG 2 plant no earlier than March, Russia’s Kommersant daily reported on Thursday, citing anonymous sources. Russian Deputy Prime Minister Alexander Novak has earlier said the first shipment would happen in February, but, …

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Russia Cuts LNG Exports due to Sanctions

Sibur, Russia’s largest petrochemical company and exporter of liquefied petroleum gas (LNG), is cutting fuel exports from the Baltic port of Ust-Luga due to a shortage of gas tankers amid Western sanctions. According to Ukrinform, Reuters reports this with reference to industry sources. It is noted that the reduction in …

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Russian LNG Exporter Targets Higher Prices to Asia

Russian Sakhalin Energy wants to increase long-term contract prices, threatening to drive up energy costs in South Korea and Japan. Sakhalin Energy sees a tighter gas market now than it did earlier. Accordingly, the talks in North Asia began late last year as part of a regular price review that …

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