Long before the re-emergence of the ‘Pan-Arab’ ideology now increasingly evident among several leading Middle Eastern countries, Qatar had sought to go its own way, neither aligning fully with the U.S.-led power bloc on the one side nor the China/Russia-lead bloc on the other. This is in part a reflection …
Read More »Rosneft Plans to Pay Record-High Annual Dividend on Oil’s Rally
Russian oil behemoth Rosneft PJSC promised record dividends on the back of soaring prices, but some foreign investors may struggle to access the payout. The board recommended 23.63 rubles a share for the second half of 2021, bringing full-year dividends to an all-time high of 41.66 rubles. That follows an …
Read More »Denmark’s Orsted Warns Russia may Cut Gas over Ruble Demand
Denmark could be the next country cut off from Russian natural gas as its biggest utility is refusing to cave in and make payments in rubles. Orsted A/S is preparing for Gazprom PJSC to cut off one of Denmark’s biggest sources of the fuel, the firm said in a statement …
Read More »EU Diplomats Launch Fresh Push for Summit Deal on Russian Oil Embargo
European diplomats were pushing for a deal on stopping Russian oil imports on Monday, with leaders poised to back down to Hungary in a stand-off over sanctions when they assemble for a two-day summit on the fallout of the war in Ukraine. A proposal circulated among European Union diplomats would …
Read More »Gazprom Resumes Gas Flows to Turkey via Blue Stream
Russia’s Gazprom has resumed shipping natural gas to Turkey after completing planned maintenance on the undersea Blue Stream gas pipeline, the Interfax news agency reported on Monday.
Read More »Russia to Settle Eurobond Debt in Mirror of EU Payments for Gas
Russia is constructing a way to pay its Eurobond debt that would sidestep the western financial infrastructure, now mostly off-limits because of the Ukraine war, Finance Minister Anton Siluanov was cited as saying in an interview with Vedomosti. Foreign investors can open accounts in Russian banks in rubles and hard …
Read More »Expect High LNG Prices for Years to Come
Since Russia’s invasion of Ukraine upended global energy markets, the LNG industry has been grappling with many uncertainties. In fact, the only real certainty is that spot LNG prices will remain elevated for years to come, even if they don’t hit the most recent record highs again. Key demand centers …
Read More »EU Spares Pipeline Oil from Russian Embargo Plan
The European Commission sent a revised proposal to national governments on Saturday that would spare oil shipments through the giant Druzhba pipeline, which is Hungary’s main source of crude imports, Bloomberg reported on Sunday, citing people familiar with the matter.
Read More »Sri Lanka Gets Russian Oil to Ease Shortages
Cash-strapped Sri Lanka took delivery on Saturday of Russian oil — which could soon be subject to a European embargo — to restart operations at the country´s only refinery, the energy minister said. The island nation is suffering its worst economic meltdown since independence, with shortages of fuel and other …
Read More »One of Europe’s Largest Gas Storage Sites could Start the Winter Empty
The Haidach gas storage site in Austria—one of central Europe’s largest—may be unable to receive any natural gas ahead of next winter due to a lack of connections other than with Russia’s Gazprom, Austrian energy officials told Bloomberg on Friday. The Haidach site was built and used by Gazprom and …
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