Data shows that Russian LNG exports in Jan-Oct are up by 6%.
LSEG data on Friday showed that Russia's January-October LNG exports increased by 6% compared to a year ago, reaching 26,4 million metric tonnes. Just over half of these were shipped to Europe. The data show that the October supply rose 10% over September, to 2,97 million tons. This is a record monthly volume for this year. The data for September was revised to 2.7 millions tons…
Gazprom announces plans to sell holiday resorts in Russia after annual loss
Gazprom, the Russian energy giant, announced on Tuesday that it would be selling off several holiday resorts. This comes after its first annual loss for almost 25 years. The Kremlin's company, which controls the largest gas reserves in the world, has suffered a net loss for 2023 of nearly $7 billion after its sales to Europe plummeted because of the rift between Russia and the West over Ukraine.
Russia says it is too early to tell if the market will be ready for additional oil in Dec
Alexander Novak, the Russian Deputy Premier, said that it was still too early to determine if the market will need the additional volumes of oil the OPEC+ group plans to produce beginning in December. His comments could set the stage for a discussion on whether or not to implement the increase in oil production agreed upon by the group.
Russia aims to increase coal exports to India
Alexander Novak, Russian deputy prime minister, said that Russia was interested in increasing its coal exports to India in order to meet the growing demand for fuel in Asia. China is still the largest buyer of Russian coal, but Moscow says India could overtake China by the beginning of the next decade due to Beijing's plans for reducing coal use in power generation.
Ifx: Japan is the top buyer of LNG from Sakhalin 2 in Russia
Interfax reported that a senior manager of the Sakhalin 2 plant in Russia said on Thursday that Japan was currently the largest importer of LNG from Russia, accounting for 57.5% its exports. Since the beginning of Russia's conflict with Ukraine, Japan has decreased its imports from Russia but kept stakes on several fossil fuels projects in Russia.
Gazprom increases first-half gas production by 16%
Gazprom, the Russian gas company, announced on Monday that its output of natural gas increased by 16% in the first half of 2024 compared to the same period last year. This continued the recovery after the previous year's record-lows. Gazprom's oil arm Gazprom Neptune is included in the production figures. Gazprom has said that…
Russia aims to counter West’s climate agenda by using gas and nuclear power
Pavel Sorokin, deputy energy minister of Russia, said that the country will set its own climate goals and make proposals to combat global warming in an effort to counter the agenda promoted by Western countries. His remarks could be a preview of potential clashes during the COP29 U.N. Climate Summit, due to take place November in Azerbaijan.
Putin praises cooperation with OPEC+ and BRICS
Vladimir Putin, the Russian president, said that on Thursday his vast energy sector would be able achieve its goals as well as overcome "illegal", western sanctions. He also praised ties with BRICS groups and OPEC+. The Russian oil and natural gas industry accounts for about a third (or more) of the total budget revenue. It has…
Putin wants BRICS to play a greater role in the global energy dialogue
On Wednesday, President Vladimir Putin called for a greater role for the BRICS group on global energy markets. Russia is looking for ways to counter Western influences. The Energy Week International Forum will be held in Russia this week. It is also expected to host a meeting between the energy ministers of the BRICS countries.
Putin: Russia should restrict exports of uranium and titanium
On Wednesday, Russian President Vladimir Putin stated that Moscow could consider limiting the exports of uranium and titanium in order to retaliate against the West. In comments made to government ministers via televised broadcast, he stated that such restrictions could be implemented for other commodities. He noted that Russia is a major producer in natural gas, diamonds, and gold.
Gazprom's H1 net profit more than tripled, to $10.9 billion
Gazprom, a gas giant owned by the Kremlin, announced on Thursday that its net income for the first half of this year had more than tripled compared to a year ago. It now stands at more than 10 billion roubles. This is due to increased gas exports as well as cost control. Gazprom suffered a loss of $7 billion, its first since 1999.
Fire at Russian oil refinery Omsk injures seven people, but production continues
The local governor reported that seven people, including one person in serious condition, were hospitalized after an fire broke out at the Russian oil refinery in Omsk. However, the plant claimed to be operating normally and its production plans will not be affected. The fire at the Omsk Refinery has been brought under control.
Gas Prices Soar in Europe on Tight Russian Supply
European gas prices soared more than 30% on Tuesday as low supplies from Russia reignited concerns about an energy crunch as the region heads for colder weather.A key pipeline which normally delivers gas from Siberia to Europe continued to work in reverse on Tuesday, traders said, sending flows from Germany to Poland, while supplies…
Rosneft Buys Huge Arctic Oilfield
Russia's Rosneft said on Monday it had bought the rights to a huge oilfield in the Taymyr peninsula in the Arctic, as it presses ahead with plans to use the Northern Sea Route to ship oil and products.In a regulatory disclosure, Rosneft said it had bought Taymyrneftegaz, the company controlled by Rosneft's ex-chief Eduard Khudainatov which owns the huge Payakha oilfield…
Fire at Rosneft's Far East Refinery Contained
A fire at a secondary unit at an oil refinery owned by Rosneft in Russia's far eastern city of Komsomolsk-on-Amur has been contained, a spokesman for the refinery said on Tuesday.The blaze has not caused any injuries and the incident would not have an impact on production plans, he said.The Komsomolsk refinery processed 7.23 million tonnes of oil in 2019.
OPEC, Russia Extend Record Oil Cuts
OPEC, Russia, and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market.The group, known as OPEC+, also demanded countries such as Nigeria and Iraq, which exceeded production quotas in May and June…
Ukraine's Odessa Gets First WTI Oil Cargo from US
Ukraine's Black Sea port of Odessa is set to receive on Wednesday its first ever West Texas Intermediate (WTI) oil cargo from the United States, according to industry sources and shipping data, just a month after the front-month futures for the blend turned negative.U.S. West Texas Intermediate (WTI) May crude futures sank to minus $38 per barrel on April 20…
Sechin to Stay at Rosneft's Helm for 5 More Years - Vedomosti
The Russian government has extended a contract for Igor Sechin, a close ally of President Vladimir Putin, to stay as the chief executive officer of giant oil producer Rosneft for five more years, Vedomosti daily reported on Wednesday.The daily, citing three people familiar with the situation, said the government signed the order…
Russian Oil Majors Examine Assets for Cuts
Russian oil companies are examining which wells they will cork, looking mainly at mature fields where production was falling anyway and as Moscow needs to deliver its biggest output cut ever to comply with the new global supply deal, sources said.The Organization of the Petroleum Exporting Countries and other oil nations including Russia…
OPEC+ Outlines Record Oil Production Cut; Mexico Balks
OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.But the group, known as OPEC+, said a final agreement was dependent on Mexico signing up to the pact after it balked at the production cuts it was asked to make.
