Argentina negotiates gas imports with Bolivia and Chile after heatwave increases demand
Bolivia and Chile have begun talks to resume gas exports to Argentina, amid a spike in demand sparked by a heatwave this summer. This highlights the challenges facing the government of Buenos Aires in its quest to become self-sufficient in energy. Armin Dorgathen Taia, the head of Bolivia's state energy company YPFB told me by phone on Friday that "we are in a negotiations with Argentina to create a contract spot". These talks were previously unknown.
Trump's nominee for Interior Department says that boosting energy is key to US security
Doug Burgum, Donald Trump's nominee to lead the Interior Department said on Thursday that he would vigorously pursue President-elect Trump's goals to maximize energy production from U.S. Public Lands and Waters, calling it a key to national security. Burgum's remarks to lawmakers at his nomination hearing indicate a sharp change in policy. For years, President Joe Biden tried to limit…
The separatist enclave of Moldova hopes that Russia will soon resume gas supplies
Vadim Krsnoselsky, the leader of Transdniestria, a breakaway region in Moldova, said that it expects to be able to get Russian gas soon, to meet its own needs. This comes after two weeks of crippling power outages. Prime Minister of Moldova's pro European central government, said that Russia is determined to bring a Moscow friendly government into power in the country. He said that…
The separatist enclave of Moldova hopes that Russia will soon resume gas supplies
Vadim Krsnoselsky, the leader of Transdniestria, a breakaway region in Moldova, said that it expects to be able to get Russian gas soon, to meet its own needs. This comes after two weeks of crippling power outages. Since January 1, when Russia's Gazprom stopped gas exports into the region, Chisinau has refused to recognize the debt Moldova owes Gazprom of $709,000,000 as valid. Moscow has blamed the suspension of gas supply on pro-Western Moldova, and Ukraine.
Leader of Moldova’s separatist region visits Moscow to discuss gas crisis
Transdniestria, the news agency of Transdniestria, reported that on Tuesday the leader of Moldova’s Transdniestria region has traveled to Moscow to hold talks in order to resolve a crisis resulting from the suspension of Russian Gas deliveries. Transdniestria is experiencing widespread power outages since January 1, when Russia's Gazprom stopped gas exports. The company cited an unpaid Moldovan bill of $709 millions that Chisinau doesn't recognize as valid.
Sandu, the leader of Moldova's separatist area, has said that he travelled to Moscow in response to the gas crisis.
Transdniestria's leader has been to Moscow after the Russian gas supply via Ukraine was suspended, said the President of Moldova on Tuesday. Transdniestria is experiencing widespread power outages since January 1, when Russia's Gazprom stopped gas exports. The company cited an unpaid Moldovan bill of $709 millions that Chisinau doesn't recognize as valid. Moscow has blamed the suspension of gas supply on Moldova and Ukraine.
After gas was cut off, the power plant of the breakaway region in Moldova switches to coal
Transdniestria's main power plant has switched to coal since Russian gas supplies were halted Jan. 1. It should be able to provide electricity to residents of the breakaway region in January and Febraury, according to the leader of the region. The cutting off of Russian gas through Ukraine on Wednesday has caused heating and hot-water supply cuts in the mostly Russian-speaking territory, which split from Moldova early in the 1990s. Russia also has 1,500 soldiers in this area.
Rosatom, a Russian company, has opened a new wind turbine blade manufacturing facility to replace Vestas.
The governor of Russia’s Ulyanovsk Region said that Rosatom, the state nuclear corporation of Russia, has opened a factory for wind turbine blades at the site of an old Vestas plant. Vestas, a Danish wind turbine manufacturer that produces blades for wind farms near Ulyanovsk, closed the plant in 2022. It left Russia 2023 with all its assets. After the start of the conflict in Ukraine the sanctions imposed by the West on Russia have isolated Russia from Western technologies…
Black Sea Spill Volunteers Beg Putin for Help
Volunteers helping to clean up a major oil spill along Russia's Black Sea coast appealed in a video released on Monday for President Vladimir Putin to urgently send federal aid, saying that they and local authorities were overwhelmed.The pollution, which has coated sandy beaches at and around Anapa, a popular summer resort, has caused serious problems for seabirds and everything from dolphins to porpoises.The oil is from two ageing tankers hit by a storm on Dec. 15.
Gazprom says that high interest rates are a concern for oil service firms
Alexander Dyukov said that the high interest rates in the oil industry could have a negative impact on firms providing support services. This raised "serious concern".According to a recent poll, the Russian central bank will likely increase its key rate this week by 200 basis points, to 23%, due to the high inflation caused by a weaker ruble.Dyukov told reporters that his company is strong enough to withstand high borrowing costs…
Sources say that Russia's Novatek employs lobbyists in order to improve relations with the US.
Two sources familiar with the situation said that Novatek, Russia's largest producer of liquefied gas, is working with lobbyists to try and rebuild U.S. relationships after Washington imposed sanctions against its mammoth Arctic LNG 2 Project. After the 2022 invasion of Ukraine by Russia, the relationship between the United States and Russia reached a post Cold War low. President Joe…
Oil rises by 1% in a 3-week period as sanctions on Russia and Iran increase
The price of oil rose by about 1% on Friday to a record high for three weeks, as a result of expectations that additional sanctions against Russia and Iran would tighten up supplies. Lower interest rates in Europe or the U.S. may also boost the demand for fuel. . U.S. West Texas Intermediate crude (WTI), which is a blend of oil from Texas and Louisiana, rose by 79 cents or 1.1% at $70.81. Both crudes were heading for their highest closings since November 22.
Hungary declares that the issue of Russian gas payments has been resolved
Hungary's foreign minister announced on Friday that it had found a way to pay for Russian gas via the Turkstream pipe from Bulgaria, while avoiding the U.S. sanction. He did not provide any details about the agreement. The U.S. On Nov. 21, creating a barrier for European gas buyers. Gazprombank has been used by buyers to pay for their purchases, including a currency conversion scheme to roubles.
Daniel Winter named President of Danfoss Power Solutions
Danfoss today announced that Daniel Winter has been named president of Danfoss Power Solutions. He succeeds Eric Alström who, after 12 years with Danfoss, has decided to seek new challenges outside the company.Daniel Winter will join the Danfoss Group Executive Team and take over as President of Danfoss Power Solutions on January 1, 2025. He is well-prepared for the new role and has extensive experience within the company.
Moldova declares a state of emergency when the risk of Russian gas being cut off looms
The Moldovan parliament voted on Friday morning to declare a state of national emergency lasting 60 days, starting Dec. 16, due to the expected interruption of Russian gas supply on Jan. After Prime Minister Dorin Recean's request for approval, 56 members of the 101-seat chamber approved the measure just after midnight. He said that the vote was to stop "gas blackmail" by Moscow. Declaring an emergency allows the government respond quickly and reduce energy exports.
In 2025, the global diesel price will be supported by refinery closures
Analysts and traders said that the global diesel market would likely see a price boost in 2025 due to the closing of around 1% of the refining capacity. This will offset the current weakness of the market and the structural downward pressure caused by the shift towards cleaner fuels. Markets end 2024 in a shaky state, despite the peak season demand. Margins in key energy hubs around the world…
Freeport's copper concentrat exports will only temporary ease global shortages
Sources in the industry said that Freeport-McMoRan’s unit, located in Indonesia, will help ease global shortages of copper concentrate, but only for a short time and if Indonesian authorities allow it. Since last year, the competition for copper concentrate has intensified due to shortages caused by stoppages at First Quantum's operations and China's massive expansion in smelters. In October…
Russia's oil production in 2024 is expected to decline from 518-521 million T
Interfax news agency reported that Deputy Prime minister Alexander Novak said on Thursday that Russia will produce between 518-521 millions metric tons of oil (10.36-10.42million barrels per day). This amount is also expected in 2025. In September, he had predicted a production of 515-521 millions tons. In 2023, Russia produced 529,6 million tons of gas condensate, despite a reduction in supply due to an agreement with other OPEC+ members.
Hungary asks for an exemption from US sanctions on gas payments to Gazprombank
Hungary's Foreign Minister said that the United States should exempt Russia's Gazprombank when it comes payments for natural gases, as these sanctions could adversely affect some U.S. Allies. On Nov. 21, President Joe Biden stepped up measures to punish Moscow before he leaves his office in January. The sanctions prohibit the state-controlled bank from handling new transactions involving energy that are part of the U.S. Financial System.
Rystad reports that Argentina's Vaca muerta region has achieved record oil production during the third quarter.
Rystad, a consultancy, said that Argentina's Vaca Muerta shale formed produced a record 400,000 barges of oil per day (bpd), in the third quarter. This figure represents a 35% increase in production year-over-year, thanks to improvements in productivity and evacuation capability. The formation is on track to reach its goal of 1,000,000 bpd, by 2030. YPF, the state-owned oil company of Argentina…
