Tag Archives: Russia

China is set to overtake the European Union (EU) as the main consumer of Russian natural gas after the Power of Siberia 2 pipeline comes online by 2030. The pipeline, which is currently under construction, will bring gas from the Yamal reserves in west Siberia—the main source of gas supply …

Russia was shipping more than 3 million barrels per day (bpd) of crude oil to Asia in the week to December 9, the week in which the EU embargo on imports of Russian crude by sea came into force, vessel-tracking data monitored by Bloomberg showed on Monday. The volumes being …

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said the impact of European sanctions on Russian crude oil and the cap that the Group of Seven nations has imposed on the price of Russian barrels is not clear yet. “In terms of sanctions and price caps, these have not yielded …

Europe has simply switched from dependency on Russian gas to dependency on LNG from the US, the Kremlin said on Sunday. “They have now changed their dependence on Russia for dependence on American liquefied natural gas. This is exactly the same dependence. Only there is much less reciprocity,” Kremlin spokesman …

Oil prices rose more than 1 per cent on Monday as a key pipeline supplying the United States remained shut while Russian President Vladimir Putin threatened to cut production in retaliation for a Western price cap on its exports. Brent crude futures were up 46 cents, or 0.6 per cent, …

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said the impact of European sanctions on Russian crude oil and the cap that the Group of Seven nations has imposed on the price of Russian barrels is not clear yet. “In terms of sanctions and price caps, these have not yielded …

France’s TotalEnergies will buy 19.4% of its shares from Russian energy giant Novatek for $3.7 billion, the company said. TotalEnergies will fire two of its representatives from Novatek’s board of directors and will no longer include income from its investment in Novatek in its financial statements. The move will also …

A US official said Wednesday that the oil price cap imposed on Russia does not involve ships navigating through Turkish waters. The Treasury Department said Deputy Secretary Wally Adeyemo spoke with Turkish Deputy Foreign Minister Sedat Onal and discussed Russia’s war against Ukraine and the implementation of the price cap …

Russia is discussing the traffic jam of oil tankers off Turkey’s coasts with shipping and insurance companies as it is concerned that the situation will affect its operators, Russia’s Deputy Foreign Minister Alexander Grushko said on Wednesday, as carried by Russian agency RIA Novosti. Many oil tankers have dropped anchor …

Russian oil has always been in demand in the world market and will always have buyers, given the growth in the economy and limited supply, Deputy Prime Minister Alexander Novak said. “Global consumption and economic growth needs energy. There is not much oil in the world, and Russian oil has …