Merkel, Poroshenko Discuss Gas Transit Through Ukraine
German Chancellor Angela Merkel and Ukrainian President Petro Poroshenko spoke by telephone on Monday about Merkel's visit to Russia last week, efforts to implement the Minsk agreement and gas transit through Ukraine, a spokeswoman said."Both parties agreed to remain in close contact on these issues and to deepen cooperation," Martina Fietz, a spokeswoman for the German government, said in a statement.Merkel held talks with President Vladimir Putin in Sochi, Russia, on Friday, and stressed the need f
Ukraine Faces Energy Crisis As Blockade Cuts Coal Supply
Ukrainian authorities vowed on Thursday to restore coal supply from the separatist-held Donbass and warned that a blockade by activists could deprive millions of heating and electricity, harm the steel industry and cost the country some $2 billion. Ukrainian President Petro Poroshenko said the blocking of a railway link in the east by opposition lawmakers and army veterans who fought against separatist factions was a "destabilising factor".
Poland and Ukraine to Jointly Oppose EU Over Nord Stream 2, Opal
Poland and Ukraine plan to act jointly to block projects that could result in Russia's Gazprom gaining greater access to the European gas market by bypassing Ukraine, Ukrainian President Petro Poroshenko said on Friday. In October the European Union lifted a cap on Gazprom's use of the Opal pipeline which carries gas from the Nord Stream pipeline that crosses the Baltic Sea to end-users in Germany and the Czech Republic.
Passing Energy Bills, Ukrainian MPs Clear Path for New EU Loan
The Ukrainian parliament passed two bills on Thursday aimed at prising open the domestic energy distribution market to more competition, a reform demanded by the European Union in exchange for a 600-million-euro ($674.10 million) loan. The first bill will allow more companies to compete in the local distribution market - at present controlled by regional monopolies. The second measure creates an independent electricity commission responsible for setting power tariffs.
Ukraine's Winter Gas Stockpiling Lags
Ukraine's efforts to store natural gas for winter are running 1 billion cubic metres behind their pace last year, Prime Minister Arseny Yatseniuk said on Wednesday. Ukraine has 14.1 billion cubic metres (bcm) of gas in underground storage, he said. The country aims to store 18-19 bcm of gas before the winter heating season begins in mid-October. "On this day last year, we had 1 billion more ... We're in talks with our Western partners to get short-term funding to pump gas…
Merkel Arrives in Kremlin for Ukraine Talks
German Chancellor Angela Merkel arrived in the Kremlin on Friday for talks with Russian President Vladimir Putin and French President Francois Hollande on the Ukraine crisis, the Kremlin press office said. The trip by Merkel and Hollande to Moscow follows five hours of late-night talks with Ukrainian leader Petro Poroshenko in Kiev on Thursday. (Reporting by Gabriela Baczynska and Alexander Winning, Editing by Timothy Heritage)
Kremlin: Putin, Ukraine & EU All Welcome Gas Deal
Russian President Vladimir Putin, German Chancellor Angela Merkel, French President Francois Hollande and Ukrainian President Petro Poroshenko, in a telephone call, welcomed an agreement on gas supplies to Ukraine, the Kremlin said. "The leaders welcomed the agreements reached on the conditions of supply and transit of Russian natural gas to Ukraine. This is an important step in the context of ensuring further uninterrupted gas transit to Europe…
Ukraine, Russia, EU Try to Finalize Gas Deal
Differences over debt, prepayments; Ukraine struggling to secure funds for gas payment. Russia says hopes to finalize a deal. Russia and Ukraine aim to resolve an impasse over natural gas supplies on Tuesday as their energy ministers meet in Brussels for talks brokered by the European Union's energy commissioner. Citing unpaid bills worth more than $5 billion, Russia cut off gas flows to Kiev in mid-June, adding to tensions sparked by Russia's annexation of Ukraine's Crimea region.
Hope and Obstacles as Russia and Ukraine Seek Gas Deal
A tentative agreement between the Ukrainian and Russian presidents has raised hopes of ending a dispute in which Moscow has halted natural gas supplies to Kiev, but several obstacles still have be overcome. Movement on the gas row was the only sign of progress at talks between Vladimir Putin and Petro Poroshenko on Friday which failed to resolve differences over fighting in eastern Ukraine and a deep crisis in relations.
Putin: Current Oil Price No Tragedy for Russia's Budget
Russian President Vladimir Putin said on Friday that the current low price of oil was not a tragedy for Russia's budget, which is highly dependent on energy revenues, and that he believed it would see an upward correction. Speaking at a briefing after talks with Ukrainian President Petro Poroshenko in Milan, Putin said oil at a level of $80 per barrel is not profitable for producers. (Reporting by Alexei Anishchuk, Writing by Thomas Grove)
Ukraine's Poroshenko: Basic Parameters of Russia Gas Deal Agreed
Russia and Ukraine have agreed the outlines of a contract to resolve their dispute over gas supplies, Ukrainian President Petro Poroshenko said on Friday after a meeting Russian President Vladimir Putin and the leaders of France and Germany. "We have agreed on the main parameters of the (gas) contract," Poroshenko told reporters after the talks at the margins of a summit of Asian and European leaders in Milan.
EU, Russian Stakeholders Meet on Ukraine Crisis
Russian President Vladimir Putin and Ukraine's President Petro Poroshenko met German Chancellor Angela Merkel and French President Francois Hollande for a second time on Friday to look for a way of resolving the crisis in Ukraine. The four leaders, along with aides, met in a hotel in central Milan at the margins of a summit between Asian and European leaders, according to a pooled media report. Earlier in the day…
Putin: Gas Transit to Europe via Ukraine Still Problematic
Russian natural gas transit through Ukraine to Europe is still problematic and alternative supply routes, such as the planned South Stream pipeline, should be used to solve the issue, President Vladimir Putin said in an interview. Moscow halted gas supplies to Ukraine in June over unpaid debts and pricing disagreement. This has sparked concerns about the possible disruption of Russian gas supplies which transit Ukraine en route to Europe, something which has occurred twice in the past decade.
Merkel: Putin Talks to Include Gas, Ceasefire
German Chancellor Angela Merkel said on Wednesday that planned talks with Russian President Vladimir Putin at this week's EU-Asia summit in Milan would include a range of issues related to Ukraine from the gas dispute to the ceasefire agreement. "There are plans for such talks with the Russian president. The whole range of issues related to Ukraine - such as gas but also the Minsk agreement - will be on the agenda," Merkel told a news conference, adding that she expected a frank exchange.
Brent Drops Below US$103: China Data Weighs
Brent crude dropped below $103 a barrel on Monday, as a recent rebound in oil prices was checked by fresh data suggesting a slower growth in China's factory activity. Oil prices on both sides of the Atlantic registered a second straight month of losses in August, although prices gained around $1 a barrel towards the end of the month. Growth in China's factory sector slipped to a three-month low in August as foreign and domestic demand cooled…
Erdogan Sworn in as Turkey President, Consolidates Power
Tayyip Erdogan was sworn in as Turkey's president on Thursday, cementing his position as its most powerful leader of recent times, in a step opponents fear heralds more authoritarian rule and widening religious influence in public life. Reading the oath of office in a ceremony in parliament, Erdogan vowed to protect Turkey's independence and integrity, to abide by the constitution and by the principles of Mustafa Kemal Ataturk, founder of the modern secular republic.
Brent Crude Nudges Near US$103
Brent crude nudged up towards $103 a barrel on Wednesday, recovering from a 14-month low hit last week although bountiful global supplies are checking gains. * U.S. Oil benchmarks on both sides of the Atlantic Basin have likely bottomed out after losing more than $10 since mid-June, analysts and traders said. Still, both Brent and West Texas Intermediate remain on track to post a second monthly fall against a backdrop of lower U.S. crude imports and slowing demand in China and Europe.
US Crude Falls in Light Trading on Weak Economic Data
Brent crude oil rose on Monday and U.S. crude fell in light trading, as support from geopolitical tensions in Ukraine and Libya countered ample supplies and anticipated weak demand after a slew of disappointing economic data from the United States and Europe. "Liquidity is down because of the holiday in London and the usual August vacation time, And while the market continues to see increasing geopolitical risk in Libya and the Russia…
Oil Slips Towards $102, Ample Supply Weighs
Oil slipped towards $102 a barrel on Monday, giving up an earlier gain, as ample supply and weak demand countered support from geopolitical tensions in Ukraine and Libya. Libyan exports have risen and Iraq's exports have continued flowing despite fighting in both countries. Ample supply and weak demand have created an oversupply in the Atlantic Basin market, according to Morgan Stanley. Brent crude slipped 18 cents to $102.11 a barrel by 1353 GMT. It hit a 14-month low of $101.07 on Aug. 19. U.S.
Brent Crude Dips Towards US$102
Brent crude dipped towards $102 a barrel on Monday as ample supply and a stronger U.S. dollar continued to pressure oil markets. Geopolitical tensions in Ukraine and Libya underpinned prices, but did little to push them higher in the absence of any supply disruptions. Brent crude, which has fallen for the past two weeks, extended losses to fall 7 cents to $102.22 a barrel by 0702 GMT. U.S. crude for October delivery was at $93.64 a barrel…
