Category: Energy / Oil / Gas

OPEC+ Leaves Production Quotas Unchanged
4. 12. 2022 No Responses

OPEC+ Leaves Production Quotas Unchanged

At its meeting on Sunday, the OPEC+ group decided to leave its production quotas unchanged. The cartel also announced that its next meeting will be in February and the one after that in June, marking the end of monthly meetings....
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Volkswagen Group CEO: High Energy Cost Make New EV Plants “Unfeasible”
3. 12. 2022 No Responses

Volkswagen Group CEO: High Energy Cost Make New EV Plants “Unfeasible”

Incentives to buy an EV are starting to vaporize into thin air in places like Japan and the U.K. Now, the irony continues, as rising costs of energy in Europe, helped along by “green” energy policies, are making industrial projects...
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Russia drafts decree banning oil sales to price-cap participants
25. 11. 2022 No Responses

Russia drafts decree banning oil sales to price-cap participants

The Kremlin is drafting a presidential decree that will ban Russian companies and any traders who buy the country’s oil from selling it to anyone participating in a price cap, according to a person familiar with the matter. The decree...
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Iran signs deal to supply 50 gas turbines to Russia
25. 10. 2022 No Responses

Iran signs deal to supply 50 gas turbines to Russia

Iran has signed a contract with Russia to supply it with 40 turbines to help its gas industry amid Western sanctions, Shana news agency reports. Iranian Gas Engineering and Development Company’s CEO Reza Noushadi said the country’s “industrial su...
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ExxonMobil abandons a major stake in the Sakhalin-1 oil and gas project
19. 10. 2022 No Responses

ExxonMobil abandons a major stake in the Sakhalin-1 oil and gas project

US energy giant ExxonMobil announced that it has left Russia completely, discontinuing operations in the Sakhalin-1 project in the country’s Far East, after it was transferred to a local entity. “With two decrees, the Russian government has unilaterally te...
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US Coal Prices Soar Above $200
4. 10. 2022 No Responses

US Coal Prices Soar Above $200

Bloomberg said spot coal prices for the week ending Sept. 30 increased to $204.95 per ton. Data was sourced from US Energy Information Administration, which said this was the highest price in records dating back to 2005. The energy-market shockwaves from Ru...
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Gas Starts Flowing To Poland Via New Baltic Pipeline From Norway
3. 10. 2022 No Responses

Gas Starts Flowing To Poland Via New Baltic Pipeline From Norway

Natural gas started flowing to Poland through the new Baltic Pipe pipeline from Norway via the Baltic Sea on the morning of Oct. 1, Polish gas pipeline operator Gaz-System said. “Promises made over six years ago have been kept,” Gaz-System said, accordin...
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US Hits Chinese Firms With New Sanctions Over Iranian Oil
30. 9. 2022 No Responses

US Hits Chinese Firms With New Sanctions Over Iranian Oil

The US has slapped new sanctions on Chinese firms related to Iran’s petrochemical and petroleum trade, after years of reports of Chinese tankers engaged in sanctions-busting activity, and at a moment that a finalized restored JCPOA nuclear deal has all but....
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Indian Petroleum Minister: India will continue to buy Russian oil despite Western pressure
7. 9. 2022 No Responses

Indian Petroleum Minister: India will continue to buy Russian oil despite Western pressure

Indian Petroleum Minister Hardeep Singh Puri told CNBC on Wednesday that his country will continue to purchase Russian oil despite growing pressure from the West. The minister explained that it’s a question of energy security, pointing out that India consume...
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India Cuts U.S. Crude Imports By 50% As It Buys Discounted Russian Crude
25. 8. 2022 No Responses

India Cuts U.S. Crude Imports By 50% As It Buys Discounted Russian Crude

New reports have emerged that during the second quarter, India slashed its crude imports from the United States by one million metric tonnes while sharply ramping up imports of discounted Russian oil. India’s energy mix now looks dramatically different fro...
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Aramco’s Q2 net income surges to $48.4 billion
15. 8. 2022 No Responses

Aramco’s Q2 net income surges to $48.4 billion

Saudi Arabia’s largely state-owned energy firm has highlighted the colossal profits made by gas and oil-rich nations during the energy crisis by revealing profits in the three months to the end of June up 90% to $48bn (£40bn). Saudi Aramco...
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Ukraine halts Russian oil supply to EU
9. 8. 2022 No Responses

Ukraine halts Russian oil supply to EU

Ukraine’s state oil pipeline operator Ukrtransnafta has stopped pumping Russian crude through the southern branch of the Druzhba system to the EU, RIA Novosti news agency reported on Monday, citing Russia’s Transneft. According to the report, transit suppl...
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Turkey Agrees To Pay For Russian Gas With Rubles
7. 8. 2022 No Responses

Turkey Agrees To Pay For Russian Gas With Rubles

Turkey’s President Tayyip Erdogan and Russia’s President Vladimir Putin agreed on Friday to bolster cooperation after a four-hour meeting, a joint statement from the two nations has revealed as cited by Reuters. As part of the deal, which would increase...
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Gazprom can’t accept Nord Stream 1 turbine
4. 8. 2022 No Responses

Gazprom can’t accept Nord Stream 1 turbine

Western sanctions make it impossible to properly return a turbine for the Nord Stream 1 gas pipeline from Russia to Germany, Russian energy giant Gazprom claimed on Wednesday. The missing equipment has been the key reason for supply cuts. Siemens...
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Sri Lanka Asks Russians For Help, Suspends Fuel Sales Amid Economic Collapse
28. 6. 2022 No Responses

Sri Lanka Asks Russians For Help, Suspends Fuel Sales Amid Economic Collapse

A broken and extremely cash-strapped Sri Lanka halted all fuel sales except for essential services in a desperate attempt to manage a severe fuel shortage — allowing the government to buy some time and send two government officials to Russia...
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