French energy giant TotalEnergies has agreed to divest its 49% stake in Termokarstovoye gas and condensates field in Serbia, Russia to its local joint venture partner Novatek. The transaction includes the sale of Terneftegas, which operates the Termokarstovoye oil and gas field. Upon the completion of the transaction, Novatek will …
Read More »TotalEnergies to Sell Stake in War-Linked Russian Gas Field
French energy firm TotalEnergies said Friday it was divesting its stake in a Russian gas field that was reported this week to be providing fuel that ends up in Russian fighter jets. The company said that it had signed a deal on Friday with its local Russian partner Novatek to …
Read More »Russia’s Gazprom Says no Nord Stream 1 Turbines in Canada
Russia’s Gazprom on Thursday said no turbines used on the Nord Stream 1 gas pipeline were undergoing maintenance in Canada, a day after a Canadian minister was quoted as saying five turbines were there. Canada’s foreign affairs minister Melanie Joly in a report was quoted by broadcaster CBC News as …
Read More »Russia Proposing Discounted Long-Term Oil Deals as U.S. Seeks Price Cap
Russia has approached several Asian countries to discuss possible long-term oil contracts at steep discounts, as U.S. officials continue to push a plan that would cap the price of the country’s oil, according to a Western official. The tentative conversations to offer some Asian buyers discounts of up to 30% …
Read More »Europe Braces for more Cuts in Russian Oil and Gas Exports
Europe faces fresh disruption to energy supplies due to damage to a pipeline system bringing oil from Kazakhstan through Russia that was reported by the pipeline operator on Monday, adding to concerns over a plunge in gas supplies. CPC, which handles about 1% of global oil and whose largest shareholder …
Read More »Oil Down as Demand Woes Persist, Strong Dollar Trims Demand
Oil prices declined on Monday over the double whammy of increasing demand woes and the rising dollar value, discouraging investors in the market trading in more expensive US dollar-indexed oil. International benchmark Brent crude traded at $95.12 per barrel at 10.08 a.m. local time (0708 GMT) for a 1.65% decrease …
Read More »Turkey Doubles Russian Oil Imports, Filling EU Void
Turkey doubled its imports of Russian oil this year, Refinitiv Eikon data showed on Monday, as the two countries are set for broader cooperation in business and especially energy trade in the face of western sanctions against Moscow. Trade between Turkey and Russia has been booming since spring as Turkish …
Read More »Asia Gas Prices Jump after Russia Pipeline Maintenance Sends Europe to Record
Asian liquefied natural gas prices extended gains as concern mounts that Russia’s announcement of maintenance on a key pipeline to Europe will further tighten global supplies. Producers offered LNG spot cargoes for winter above $60 per million British thermal units on Monday, traders said. The Japan-Korea Marker spot benchmark slipped …
Read More »Gazprom to Shut Gas Pipeline to Europe for Three Days
A key Russian natural gas pipeline will shut down for three days of maintenance at the end of this month, the state-owned energy company Gazprom announced, raising economic pressure on Germany and other European countries that depend on the fuel to power industry, generate electricity and heat homes. The latest …
Read More »Russia is China’s Top Oil Supplier for 3rd Month
Russia held its spot as China’s top oil supplier for a third month in July, data showed on Saturday, as independent refiners stepped up purchases of discounted supplies while cutting shipments from rival suppliers such as Angola and Brazil. Imports of Russian oil, including supplies pumped via the East Siberia …
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