LNG tanker signals heading to europe from sanctioned plant
A liquefied natural gas tanker that recently docked at the sanctioned Arctic LNG-2 export facility in Russia is heading toward Europe, ship tracking data compiled by Bloomberg show.
Russia
Russian oil flows tick up as Moscow pivots from export curbs
Russia’s crude exports edged higher in the week to May 19, as Moscow prepares to replace a ceiling on overseas shipments with a production limit favored by its OPEC+ partners.
Russia’s Gazprom reports first net loss in 24 years
Russia’s state-controlled gas giant Gazprom reported its first annual net loss since 1999 on falling shipments to Europe and lower prices for the fuel.
Oilfield services giant SLB has no plans to exit Russia
Oilfield services giant SLB (NYSE: SLB) has no plans to exit Russia, its CEO has said, two years after Moscow’s invasion of Ukraine.
Russia’s oil and gas revenue jumped in February in budget boost
Russia’s oil and gas revenue jumped more than 80% in February from a year earlier to over $10 billion due to higher prices for the nation’s crude as its producers withstood Western sanctions.
Russia’s Gazprom plans sale of UK North Sea business
Gazprom, the Russia state-owned energy firm, has announced plans to sell off its UK North Sea business.
Russia loses bid to overturn $50bn award in Yukos case
Russia failed to overturn a ruling in the Netherlands that ordered Moscow to pay around $50 billion in the bankruptcy case of Yukos Oil Co., once the largest Russian oil and gas company.
Aramco cuts oil production target signalling $5bn capex cut
Citing talks with Aramco this morning, Borkhataria said projects that had reached a final investment decision (FID) would continue as planned.
Fire tied to Ukraine drones shuts Novatek Baltic Sea fuel plant
Separately, the BBC, citing an official source in Kyiv it didn’t identify, said special forces struck the plant with drones.
Russia’s oil drilling boom proves Moscow’s resilience to Western sanctions
Russia was on pace for a second year of record oil drilling in 2023, further evidence of the nation’s resilience to Western sanctions.
Russia expects oil price to average $80-$85 a barrel in 2024
Russia expects Brent prices to average between $80 and $85 a barrel next year amid OPEC+ output cuts, Deputy Prime Minister Alexander Novak said in a TV interview.
Russia enforces sale of OMV, Wintershall assets
OMV noted the presidential decree but said that it had written down the value of its Russian assets. As such, it expects no further impact as a result of the move.
IEA tips winners and losers in future oil flows
Based on the IEA’s STEPS baseline scenario, Guyana will increase production to around 2mn bpd by the mid 2030s. Under the more conservative APS scenario, the IEA sees Guyana reaching 1.3mn bpd by 2035.
Technip Energies risked sanctions breaches on Arctic LNG 2
"It was done in co-operation with the customer because we couldn't just walk out and slam the door: We'd have lost a lot of money," a company executive told the newspaper, speaking anonymously.
Halliburton equipment imported to Russia despite sanctions
Russia imported millions of pounds of Halliburton equipment last year despite sanctions, according to a report by The Guardian.
The danger and the tool: decarbonising gas and LNG
By creating and offering a full suite of carbon management solutions, major gas producers and exporters can create demand without fears of “locking-in” emissions or building “stranded assets”.
Video: Ukraine special forces reclaim offshore Boika Towers
“The platforms command valuable hydrocarbon resources. However, like Snake Island to the west, they can also be used as forward deployment bases, helicopter landing sites, and to position long-range missile systems,” the MoD said.
Russia expects $11bn energy windfall in 2023 despite cap
Russia expects to get a huge inflow of energy revenue by the end of this year despite an oil price cap imposed by Group of Seven nations, and may channel it toward spending as the government continues to pour resources into the war in Ukraine.
SLB enacts worldwide ban on its Russian operations
SLB, formerly known as Schlumberger, has announced it will be halting shipments of its products and technology into Russia from all its facilities around the globe.
Russian oil transfers on the rise in West Africa
In the second quarter of the year Windward reported another big increase in Malacca, up 200% from the first quarter. Malta, meanwhile, was up 220% on the quarter.
Energy infrastructure is a matter of national health and safety
In my view the integrity of the energy system is actually an issue of national health and safety in that its disruption would cause chaos and create a major threat to life as indeed the awful events in Ukraine have shown us only too graphically.
UK homes facing £6,000 bill for imported gas over next 12 years
The Energy and Climate Change Intelligence Unit (ECIU) said that it would not be possible to avoid this by producing more gas domestically, as the UK's North Sea reserves are dwindling.
Ben Wallace urged to lay out response to Russian ship ‘snooping around Beatrice oilfield’
The Defence Secretary has faced calls to reveal to MPs how the UK is responding to a Russian "spy ship" which has patrolled in UK waters.
Widespread Russian oil price violations likely took place in Asia in the first quarter
Widespread breaches of the Group of Seven oil price cap likely took place in Asia in the first quarter, according to a team of researchers who analyzed official data on Russia’s foreign trade alongside shipping information.
European leaders agree massive ramp-up in North Sea offshore wind
A group of Western European nations led by Germany and France have committed to massively ramping up the production of clean energy from wind turbines in the North Sea, to both meet climate targets and reduce their strategic energy dependence on Russia.