Tag Archives: Russia

U.S. sanctions have proven successful in suspending production at Arctic LNG 2 and delaying the expansion of the project, according to a U.S. State Department official. “Putin hoped to ramp up output from Arctic LNG 2 during the first quarter of 2024 but has been unable to load even one …

Russia’s four-week average seaborne oil exports fell to 3.11 million barrels a day as of July 14, down by almost 600,000 barrels or 17% from their recent peak in April, Bloomberg has reported. The country’s seaborne crude shipments have now sunk to the lowest since January and are likely to …

Russia plans to make extra crude production cuts to compensate for pumping above its OPEC+ quota in the warm seasons of this year and next, according to people with knowledge of the matter. Moscow’s additional curbs will most likely happen in summer and early fall for technological reasons, said the …

The Arctic LNG 2 project in Russia, which Western sanctions have hit in recent months, significantly reduced its production of natural gas in May as it hasn’t exported any LNG yet, a source with knowledge of output data told Reuters on Tuesday. Arctic LNG 2, in which Russian gas producer …

Russia’s natural gas producer Novatek is offering liquefied natural gas to potential Chinese customers through a new marketing team, although it’s uncertain whether the Russian company would attract many clients with attractive prices, Chinese traders told Reuters on Wednesday. Novatek is now offering part of an LNG cargo from its …

Executives and shareholders of some of the largest companies in Russia have pocketed the equivalent of more than $11 billion in dividends in the past year as many firms resumed dividend payments, a Bloomberg analysis showed on Tuesday. At least 12 Russian executives, former executives, and shareholders of some of …

A British business that trades in Russian liquefied natural gas (LNG) by operating an “unusual ship”, has not been breaching the sanctions put in place after the Russian invasion into Ukraine. An investigation by Sky News revealed that one of the largest owner-operators of liquefied gas vessels, Seapeak, has its …

In a significant rebound, Russia’s oil and gas revenues for June are projected to increase by over 50% year-on-year, reaching $9.4 billion, according to new Reuters calculations. This surge comes after a reduction in refinery subsidies, highlighting Russia’s resilience in the face of Western sanctions aimed at its energy sector. …

India’s oil imports from Russia rose to a record of about 2.1 million barrels per day (bpd) in May as discounts for Russian oil widened on lower demand from China, according to trade sources and shipping data. That boosted Russia’s share in the world’s third largest importer and consumer to …

Chinese engineering company Wison New Energies has decided to discontinue all ongoing Russian projects and will immediately and indefinitely stop taking any new Russian business, dealing a blow to the Arctic LNG 2 project. “In view of the strategic future of the company, we have to make this difficult decision,” …