Tag Archives: Russia

Hungary told its European Union counterparts that it will cost at least 770 million euros ($810 million) to revamp its oil industry as they wrangle over potential sanctions that would target Russian supplies. Prime Minister Viktor Orban’s government said 550 million euros were needed to overhaul its refineries to comply …

Russia became the fourth-largest oil supplier to India in April, with volumes set to rise further in coming months as low prices spur demand from the world’s number 3 oil consumer and importer, tanker tracking data showed. Russia’s share in India’s oil purchases rose to a record 6 per cent, …

Gazprom decided not to renew its capacity share via the Yamal gas pipeline that runs through Poland nor the capacity transit via Slovakia for June, Czech press agency ČTK reported based on their findings of the results of an energy auction. Gazprom announced last week that it would not transport …

Oil prices eased on Tuesday as Hungary resisted a EU push for a ban on Russian oil imports, a move that would tighten global supply, and as investors took profits following a recent rally. Brent crude futures fell 22c, or 0.2%, to $114.02 a barrel by 3.27am GMT, while US …

The volume of natural gas from Russian gas giant Gazprom destined for Europe via Ukraine will decrease 25% on Monday compared to the quantity the previous day, Gazprom’s spokesman Sergey Kupriyanov confirmed. “Gazprom will supply 46.8 million cubic meters of natural gas via Ukraine on May 15 (Monday),” Kupriyanov said, …

RAO Nordic, a subsidiary of Russian state energy holding Inter RAO, has suspended its electricity supply to Finnish electricity grid operator Fingrid, citing payment concerns. The company has been importing electricity from Russia to Finland and selling it on the Nord Pool exchange for several years. It stopped supplying power …

Russia’s oil export revenue has jumped some 50% since the beginning of 2022, Bloomberg reports, citing data from the International Energy Agency (IEA). According to the agency’s monthly market report, Moscow has earned some $20 billion each month this year from sales of crude oil and oil-related products. The earnings …

Following Thursday’s report that Russia threatened to cut the flow of gas to Finland, Russia—through its entity RAO, will suspend imports of electricity to Finland as of 1:00 a.m. on Saturday, May 14, Fingrid said on Friday in a statement on its website. The Finnish transmission system operator, Fingrid, claims …

Ten more European buyers of Russian gas have opened accounts at Russia’s Gazprombank, designated by Vladimir Putin to process the ruble-for-gas payments that he demands from now on, a source close to Russia’s gas giant Gazprom told Bloomberg on Thursday. So far, 20 companies from Europe have already opened accounts …

Germany said Russia is using energy as a “weapon” after Moscow reduced natural gas supplies in retaliation for Europe’s penalties over the war in Ukraine. A unit of Gazprom PJSC that was seized by Germany has had its deliveries reduced by about 10 million cubic meters a day, according to …