The crude oil export ban for countries implementing the G7 price cap that Russia announced this week could stimulate more exports to India, the Economic Times has reported, citing Indian industry executives. Earlier this week, President Vladimir Putin said Russia will stop selling crude to any buyer that includes a …
Read More »EU Restrictions on Import of Russian Oil to Trigger Demand Spike for Azerbaijani Crude
The EU’s embargo on Russian oil will trigger demand spike for Azerbaijani crude from the European countries, Philipp Lausberg, Policy Analyst in the Europe’s Political Economy program at the European Policy Centre (EPC) told Trend. “The EU’s embargo on Russian oil will increase European demand for oil from other countries. …
Read More »Nord Stream 2 Construction Company Avoids Bankruptcy for a Third Time
The company responsible for the construction of the Nord Stream 2 pipeline received a six-month stay of bankruptcy, shielding it from creditors, the AP reported, noting the stay will last from January 2023 to June the same year. The gas pipeline, which doubled the capacity of its twin pipeline Nord …
Read More »EU Restrictions on Import of Russian Oil to Trigger Demand Spike for Azerbaijani Crude
The EU’s embargo on Russian oil will trigger demand spike for Azerbaijani crude from the European countries, Philipp Lausberg, Policy Analyst in the Europe’s Political Economy program at the European Policy Centre (EPC) told Trend. “The EU’s embargo on Russian oil will increase European demand for oil from other countries. …
Read More »Russia Sets Record in Daily Gas Deliveries to China
Russia set a record in daily gas deliveries to China on Wednesday, according to the head of the Russian energy giant Gazprom. Speaking at a meeting in Moscow, Alexey Miller said Gazprom made a decision to supply gas to China in volumes exceeding the daily contractual obligations. The maximum excess …
Read More »Oil Dips in Thin Trading after Russia Bans Exports to Cap Users
Oil dipped amid thin liquidity as investors weighed the fallout from a Russian ban on exports to buyers that adhere to a price cap. West Texas Intermediate fell toward $79 a barrel after closing little changed on Tuesday. Moscow’s restrictions will begin on February 1 and last until at least …
Read More »Russia Admits the Oil Price Cap could Widen its 2023 Budget Deficit
Russia’s budget deficit in the coming year might exceed the expected 2% of GDP as the oil price cap hurts export income, the country’s Finance Minister Anton Siluanov said on Tuesday. This marks the first time a Russian official has acknowledged that the $60 per barrel price cap imposed on …
Read More »Russia Bans Oil Sales to Countries that are Using a Price Cap Including the EU, the G7 and Australia
From 1 February, Russia will completely ban the sale of oil to countries that have introduced a price cap on its exports. The $60 (€56) cap was agreed at the beginning of December by the EU, the G7 group of nations and Australia. On 27 December, Russian President Vladimir Putin …
Read More »Russia Says Europe will Struggle to Replace its Oil Products
Europe will find it difficult to replace Russian crude oil and product supply once the full effect of the EU embargoes on Russian petroleum products is felt, according to Russian Deputy Prime Minister Alexander Novak. “Europe used to be a key market for the sale of our oil products. Let …
Read More »Russia Ready to Resume Gas Supplies via Yamal-Europe Pipeline
The EU market remains open for Russian liquefied natural gas (LNG), and Russia is ready to resume supplies via the Yamal-Europe pipeline, Russian Deputy Prime Minister Alexander Novak said in an interview with TASS news agency. “Even now this market is not closed. For example, we were able to significantly …
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