Further disruptions are expected as winter approaches, according to Wood Mackenzie, which outlines two scenarios for Europe in case of Nord Stream flows
Russia
Posted inNews, Exploration & Production
Europe gas supply at risk as Russia’s rubles payment deadline approaches
Russia says it demands only rubles for its gas and will not ship gas for free
Russia’s insistence that its “unfriendly” nations pay in rubles for Russian natural gas risks disrupting European supplies as soon as this week as the deadline set by Putin for moving to ruble payments is drawing closer. Europe, which depends on Russian natural gas for more than one-third of its demand—with some countries, including the biggest […]
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Russia to demand roubles for payment of gas exports to “unfriendly countries”
The announcement was made during a government meeting chaired by Russian President Vladimir Putin
Russia will now demand that payments for Russian gas supplies that head to “unfriendly countries” must be settled in roubles, President Vladimir Putin announced during a government meeting, Interfax, a Russian news agency, reported Wednesday. Putin called for the Russian central bank and government to determine within one week “the order of operations for the […]
Posted inNews
Qatar could benefit as Europe shuns Russian gas, says S&P
As one of the world’s biggest LNG producers, the country could benefit from increased demand
S&P Global Ratings said that it believes the EU’s planned diversification from Russian gas could have a positive implication for Qatar’s state energy producer QatarEnergy (QE). The European Commission announced earlier this month plans to remove EU reliance on Russian fossil fuels by the end of the decade. The decision was taken following Russia’s invasion […]
Posted inNews
Oil price could reach $240 this year if sanctions on Russia supply continue: Rystad
This is the largest energy crisis in decades and the impact on the world’s most important commodity is going to be unprecedented, says Rystad Energy’s head of oil Bjørnar Tonhaugen
On Tuesday, the United States imposed a ban on Russian oil exports in its latest effort to intensify sanctions on Russia. In a bid to counter Russia’s invasion of Ukraine, Western nations have pursued a strategy of sanctions to isolate Moscow. Rystad Energy’s Head of Oil Markets Bjørnar Tonhaugen said that prices will skyrocket if […]
Posted inNews
Russia sanctions already impacting oil supply, says IEF
Sanctions cause commodity prices to surge and equities to sink as economic fears increase
Non-energy sanctions have already taken effect on the Russian supply of oil, with reduced supplies, leading to further price spikes and volatility, the International Energy Forum (IEF) said on Monday. Data on exports from Russia’s hubs in the Baltics and the Black Sea have indicated that demand for the country’s oil has disappeared as the […]
Posted inNews
Oil prices likely to go higher as IOCs quit Russia: Experts
International oil majors have been exiting investments in Russia following the country’s invasion of Ukraine
Oil giants have been exiting their investments in Russia after the country initiated military action in Ukraine. The conflict has caused oil prices to soar as fears have increased regarding supply shortages. The exit from international oil firms is likely to cause prices to continue to rise, experts said. “Oil giants are mostly falling in […]
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