Washington

London

Moscow

Novosibirsk

Vladivostok

Tag Archive for Energy

Russia and Ukraine jockey for position before another round of gas talks

Gas Flame file photo

(Business New Europe – bne.eu – October 21, 2014) Russia and Ukraine are meeting on October 21 to hammer out a new agreement over Ukraine’s debts to Russia and future pricing for Russian gas, as winter approaches and Ukraine desperately needs Russian supplies to be restarted. Russia’s president Vladimir Putin and his Ukrainian opposite number

Success of Russia-Ukraine Gas Deal Depends on EU’s Willingness to Pay

Gas Flame file photo

(Moscow Times – themoscowtimes.com – Alexander Panin – October 21, 2014) As the Russian and Ukrainian Energy Ministers sit down with European Commission chaperones to resolve their intractable natural gas dispute on Tuesday, the ball will be in the EU’s court, which is expected to finance both Ukraine’s and its own energy security. With the

Ukraine and Russia move close to gas agreement, want IMF to pay bill

Gas Flame file photo

(Business New Europe – bne.eu – October 20, 2014) Russia and Ukraine have moved a step closer to an agreement on gas supplies and pricing, but have called for the international community to help Ukraine pay its gas bill. “[We] reached an agreement,” Ukraine’s president Petro Poroshenko said on Ukrainian TV on October 17, immediately

Interfax: “Novak: oil price drop no ‘tragedy'”

Oil Well file photo

(Interfax – October 17, 2014) The current decline in oil prices is no tragedy, Russian Energy Minister Alexander Novak said, adding that the average annual price of oil needs to be considered. “The price reached $120 per barrel at the beginning of the year, and averaged $100 per barrel in the three preceding years. If

RIA Novosti: Putin: No Energy Crisis in Europe on Russia’s Behalf

Gas Flame file photo

BELGRADE, October 16 (RIA Novosti) – President Vladimir Putin on Thursday reassured European partners that Russia would do everything possible to prevent any interruption of Russian natural gas deliveries to Europe. “We would’t want any crisis to occur during the winter period,” Putin told reporters following talks with Prime Minister Aleksandar Vucic in Belgrade. “Russia

RIA Novosti: Ukraine Demands Gas Transit Contract With Europe, Refuses to Guarantee Safe Transit

Gas Flame file photo

KIEV, October 16 (RIA Novosti) – Ukraine will not guarantee uninterrupted transit of Russian gas to Europe via its territory unless it signs a gas transit contract with EU partners, Prime Minister Arseniy Yatsenyuk said Thursday. “Ukraine declares that we are a state that guarantees uninterrupted transit of natural gas, but in order to guarantee

RIA Novosti: Ukraine Facing Overall Energy Crisis as Internal Conflict Affects Both Gas, Coal: Expert

File Photo of Blue Flame from Natural Gas

WASHINGTON, October 14 (RIA Novosti) – Ukraine is not only facing a gas crisis this coming winter, but also a possible overall energy crisis due to disruptions in coal mining and transportation facilities, said Tatiana Mitrova, head of the Oil and Gas Department at the Russian Academy of Sciences Energy Research Institute (ERI RAS). “[It

Russia signs raft of deals with China

China Map

(Business New Europe – bne.eu – October 14, 2014) Russia and China signed a raft of 40 agreements encompassing trade, energy, finance and technology, following a meeting between Russian prime minister Dmitry Medvedev and his Chinese counterpart, Li Keqiang, on October 14 in Moscow. The agreements demonstrate how Russia is looking for other options, after

Russia Plans Giant State Oil Services Company to Replace Western Firms

Oil Worker file photo

(Moscow Times – themoscowtimes.com – Alexander Panin- October 14, 2014) President Vladimir Putin has approved the creation of a state-owned oil exploration drilling corporation that will replace Western oil service companies forced to reduce operations in Russia by sanctions on Moscow over Ukraine, a news report said Monday. In a time of “sharply escalating international

Russia Spending $6 Billion Not Enough to Stop Ruble Rout on Oil

File Photo of Cash, Coins, Line Graph

(Bloomberg – bloomberg.com – Vladimir Kuznetsov – October 13, 2014) The ruble extended its longest losing streak in more than a year as $6 billion of Russian currency interventions failed to stem the depreciation amid tumbling oil prices. The ruble weakened 0.6 percent versus the dollar-euro basket to 45.3423 by 5:15 p.m. in Moscow, taking

Russia’s Oil Field Actions to Take Edge Off U.S. Sanctions

Oil Well file photo

(Bloomberg – bloomberg.com – Stephen Bierman, Elena Mazneva – October 10, 2014) U.S. and European Union moves to pressure Russia by threatening its oil output overlook one detail: a mass of conventional resources across Siberia, according to Natural Resources Minister Sergei Donskoi. Russia will distribute more oil and gas deposits found in traditional areas during

Will Western Sanctions Stop Russia’s Arctic Oil Expansion?

arctic-energy

(Moscow Times – themoscowtimes.com – Howard Amos – October 9, 2014) Igor Sechin, the most influential figure in Russia’s energy industry, announced last week that a new oil field discovered in the Arctic was to be christened “Pobeda” – the Russian word for victory. Speaking to reporters from a blustery drilling platform, the Kremlin heavyweight,

Gazprom proposes to pay for gas transit with Ukrainian debt

Gas Facility file photo

(Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH – October 6, 2014) Russian gas monopoly Gazprom has proposed to pay for gas transit through Ukraine using debt owed by Ukraine’s national oil and gas company Naftogaz. According to experts, this decision is advantageous for Kiev, since it will speed up the renewal of

Record fall in oil prices threatens Russian budget

Oil Well file photo

(Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH – October 7, 2014) The price of Brent oil has tumbled to $92.2 a barrel, placing the Russian federal budget in jeopardy. Russian analysts believe that the decrease in oil prices is related to demonstrations in Hong Kong, the strengthening of the dollar, as well

RIA Novosti: Draft Three-Party Gas Deal Ready, Moscow Waiting for Kiev’s Answer: Novak

File Photo of Blue Flame from Natural Gas

MOSCOW, October 6 (RIA Novosti) – The three-party gas protocol of Russia, Ukraine and the European Union is ready and Moscow is currently waiting for Kiev to answer, Russian Energy Minister Alexander Novak said Monday. “A draft protocol to be signed by the three sides – Russia, the European Union and Ukraine – has been

Russia Oil Production Near Record With Sanctions Yet to Bite

Oil Well file photo

(Bloomberg – bloomberg.com – Jake Rudnitsky – October 2, 2014) Russian oil output rose to near a post-Soviet record last month, a sign the biggest source of revenue for President Vladimir Putin’s government has yet to be eroded by U.S. and European sanctions. The nation increased output 0.7 percent to 10.61 million barrels a day,

Putin Doesn’t Make Decisions Under Pressure, Sechin Says

Igor Sechin file photo

(Bloomberg – bloomberg.com – Ilya Arkhipov, Ryan Chilcote – September 30, 2014) President Vladimir Putin won’t be swayed by sanctions over Ukraine because he doesn’t allow such pressures to affect his decisions, said Igor Sechin, head of OAO Rosneft (ROSN), Russia’s biggest oil company. “He will never let himself be pressured into making a decision,”

Business New Europe: Russia has eager new oil and gas customers in Asia

Gas Facility file photo

(Business New Europe – bne.eu – Chris Weafer of Macro-Advisory – September 25, 2014) Chris Weafer is Senior Partner at Macro-Advisory, which offers bespoke Russia-CIS consulting. The main focus of Western sanctions against Russia has been to cause disruption to the banking and oil sectors. The former has directly squeezed the availability of liquidity on

Interfax: Sanctions against Russia already affecting production of tight reserves, could impact shelf

Oil Worker file photo

KHANTY-MANSIISK. Sept 10 (Interfax) – The sanctions imposed by the EU and U.S. against Russia are already affecting the production of tight reserves, Russian Natural Resources Minister Sergei Donskoi said at a briefing in Khanty-Mansiisk. “The sanctions, first due to technology, have not yet impacted [the country's economy], but are already affecting the production of

Gazprom’s Grip on Russian Gas Exports Weakens as Novatek Gets Export License

Gas Flame file photo

(Moscow Times – themoscowtimes.com – Alexander Panin – September 9, 2014) Novatek, Russia’s largest independent gas producer, has been granted a license to export liquefied natural gas, or LNG, marking the next step on Russia’s gradual liberalization of a market dominated by state-owned giant Gazprom. Deputy Energy Minister Kirill Molodtsov told the TASS news agency

RIA Novosti: Prime Minister Yatsenyuk: Ukraine to Become Independent From Russian Gas in Five Years

Arseniy Yatsenyuk file photo

MOSCOW, September 8 (RIA Novosti) – Kiev will stop being dependent on Russian gas in five years, Ukrainian Prime Minister Arseniy Yatsenyuk said in an interview to Ukraine’s 1+1 television channel. The “victory” is achieved when Ukraine will not buy Russian gas at all, which could be accomplished in a five-year period, Yatsenyuk said in

Gas war seen as next phase of Russia-Ukraine conflict

Gas Flame file photo

(Business New Europe – bne.eu – Ben Aris in Moscow – September 8, 2014) [Charts here http://www.bne.eu/content/story/gas-war-seen-next-phase-russia-ukraine-conflict] Even if a lasting ceasefire in eastern Ukraine can be secured, the cessation of military hostilities will only mark the beginning of a new fight. The battle between Russia and Ukraine over gas supplies is about to restart

RIA Novosti: Economy Minister Confirms Russian Plans to Privatize 19.5% in Rosneft Oil Company in 2015

File Photo Rosneft and Russian Flags Next to Rosneft Banner

MOSCOW, August 28 (RIA Novosti) – The Russian government is to go ahead with plans to privatize a 19.5 percent stake in oil major Rosneft in 2015, likely in two stages, Russian Economic Development Minister Alexei Ulyukayev said Thursday. “The [government] plan is being upheld and preliminary operations have already begun. We are talking about

Economy faces challenge from fall in oil price and ruble value

Oil Well file photo

(Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH – August 25, 2014) Low price-per-barrel for Urals crude oil is putting pressure on the Russian budget On Aug. 18, Reuters reported that the price for Russia’s benchmark Urals oil fell to $98 a barrel – its lowest level since May 2013. Even as recently

RIA Novosti: Russian Finance Ministry Expects Oil Prices of $90-95 per Barrel in 2015

Oil Well file photo

MOSCOW, August 26 (RIA Novosti) – Russia’s Ministry of Finance expects an average oil price of $90-95 per barrel in 2015, Deputy Finance Minister Alexei Moiseyev told RIA Novosti on Tuesday. “The price for oil in 2015 will be $90-95 per barrel,” Moiseyev said. The Ministry of Economic Development earlier predicted an average oil price

Ukrainian sanctions on Gazprom could threaten European economy

Russian Gas Facility file photo

(Russia Beyond the Headlines – rbth.ru – Kira Egorova, Anna Kuchma, RBTH – August 19, 2014) On August 14, the Ukrainian parliament passed a law enabling Kiev to introduce sanctions against Russian companies, meaning that if measures are introduced against Gazprom, the transit of Russian gas through Ukrainian territory will be blocked. What threats does

Business New Europe: Sanctions aim at Russia’s Arctic push

Polar Map Showing Permafrost Areas, Adapted From NOAA.gov Graphic

(Business New Europe – bne.eu – Joe Parson in Moscow – August 21, 2014) US and EU sanctions are threatening to derail a monster exploration and production project in the Russian Arctic between state-owned Rosneft and US oil major ExxonMobil. The threat is not that Washington will pressure US companies to pull out of Russian

Struggling With Sanctions, Russia Faces Oil Price Crash

Oil Well file photo

(Moscow Times – themoscowtimes.com – Alexander Panin – August 20, 2014) The price of Urals crude oil, Russia’s key export and the lynchpin of its government finances, fell below $100 this week for the first time in more than a year, after plummeting $15 in under a month. Russia relies on hydrocarbon exports for 50

Ukraine’s Next Crisis? Economic Disaster

Maidan Square file photo

(Oilprice.com – Robert Bensh – August 18, 2014) Ukraine’s next crisis will be a devastatingly economic one, as violent conflict destroys critical infrastructure in the east and brings key industry to a halt, furthering weakening the energy sector by crippling coal-based electricity production. The Ukrainian military’s showdown with separatists in the industrial east has forced

RIA Novosti: Between Justice and European Courts’ Rulings on Russia: a Dangerous Gap

European Court of Human Rights Building file photo

(RIA Novosti – Alexander Mercouris – August 9, 2014) There is always going to be a gap between people’s understanding of what is just/unjust and formal court rulings. Law will always strive to catch up with changing societal attitudes to “justice” and “injustice.” But law will always more or less miserably fall behind, unless some

RIA Novosti: Ukrainian Transit Not Crucial For Russian Oil Deliveries to Europe – Transneft

Map of Western CIS/FSU and European Environs

MOSCOW, August 8 (RIA Novosti) – Russia has alternative routes to deliver oil to Europe if Ukraine decides to stop transit via its territory, but Hungary, Slovakia and Czech Republic will sustain losses, a spokesman for Russia’s oil transit monopoly Transneft said Friday. Russia delivers about 14 million tons of oil to European consumers via

Moscow Times: Who Is Benefiting From West-Russia Sanctions War?

Truck at Russian Border Crossing

(Moscow Times – themoscowtimes.com – Alexey Eremenko – August 6, 2014) The recent Western sanctions, the harshest in decades, are meant to stun Russia’s economy. But one person’s loss is another one’s gain – and this is also true for companies and countries in a globalized world. Following the U.S.’s example, the European Union last

U.S., EU Unlikely to Invest in Ukraine’s Gas System, Analysts Say

Gas Flame file photo

(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – July 5, 2014) Ukraine’s move Friday toward attempting to sell nearly 50 percent in its gas pipeline system to EU and U.S. investors does not mean that Western buyers will rush to take up the offer, as the system’s value depends on a steady supply of Russian

EU Claims Right to Reverse Flow as Russia Protests

Gas Flame file photo

(The Moscow Times – themoscowtimes.com – July 4, 2014) EU Energy Commissioner Günther Oettinger on Thursday asserted European companies’ right to sell Russian gas back to Ukraine, flying in the face of warnings from Russian energy giant Gazprom as tensions continue to build over energy policy. Energy companies in the EU have an “absolute right to

Russia’s crack pipe to Europe

Gas Flame file photo

(Business New Europe – bne.eu – Nicholas Watson, Ben Aris, Tim Gosling, Rob Whitford – June 30, 2014) The growing confrontation between Russia and the West ranges across many fronts, none more significant than in an area of rural northwest Bulgaria, where in October workers began welding pipes that will feed a natural gas compressor

Why Russia needs to develop nuclear energy

Russian Nuclear Plant

(Russia Beyond the Headlines – rbth.ru – Andrei Frolov, special to RBTH – June 24, 2014) Andrei Frolov is editor in chief of the magazine Eksport Vooruzheny (Arms Exports). Russian expert discusses the importance of nuclear energy in Russia Russia inherited its nuclear energy sector from the Soviet Union and can take pride in the

RIA Novosti: Russia-EU Gas Transit Through Ukraine Compliant With Contract – Gazprom

Gas Facility file photo

MOSCOW, June 23 (RIA Novosti) – Russia’s EU-bound gas flows through Ukraine comply with transit contraparameters, Gazprom spokesman Sergei Kupriyanov said Monday. “The transit of Russian gas through Ukraine is flowing according to contract parameters with a volume over the last 24 hours of around 205 million cubic meters,” Kupriyanov said. Earlier on Monday, reports

Russia’s gamekeeper has turned poacher

Kremlin and Saint Basil's File Photo

(opendemocracy.net – Mikhail Kreindlin – June 20, 2014) Mikhail Kreindlin is an expert at Greenpeace Russia on specially protected areas. Russia has a vast number of nature reserves and national parks. But the government body supposed to be protecting them is in fact destroying many of them by allowing development and mining. In Russia, as

Why This Russian-Ukrainian ‘Gas War’ Is Different From The Others

Gas Facility file photo

(RFE/RL – Claire Bigg – June 17, 2014) Russia has halted gas supplies to Ukraine — a major escalation of a dispute in which Russia’s state-owned gas giant Gazprom is demanding that Kyiv settle its huge gas debt. But in many ways, what many have dubbed the third “gas war” between the two countries is

RIA Novosti: Moscow to Hold New Gas Talks Only After Kiev Clears its Debt – Russian Energy Minister

Gas Facility file photo

MOSCOW, June 18 (RIA Novosti) – Moscow only intends to resume trilateral gas talks after Ukraine repays its debt for Russian gas supplies, Energy Minister Alexander Novak said Wednesday. “First of all, we expect payments to be made on the debt for November-December and April-May deliveries. Only after this would we consider having talks, if

Interfax: Accidents on Ukrainian gas pipelines to continue, not enough invested in maintenance

File Photo of Blue Flame from Natural Gas

(Interfax – June 18, 2014) Accidents on Ukraine’s gas transportation system will continue because not enough is being spent on maintenance, Gazprom Deputy CEO Vitaly Markelov told journalists, commenting on yesterday’s blast and fire on the Urengoi-Pomary-Uzhgorod gas pipeline in Ukraine’s Poltava region. “The gas transportation system, ours and Ukraine’s, was created as a unified

Russia Beyond the Headlines: Press Digest: Kiev’s position on gas payments is ‘blackmail’

Collage of Russian Newspapers

(Russia Beyond the Headlines – rbth.ru – Darya Lyubinskaya, special to RBTH – June 17, 2014) RBTH presents a selection of views from leading Russian media on the latest gas crisis between Moscow and Kiev, which culminated yesterday with Russia cutting off supplies to Ukraine after talks had once again reached a dead end. Kommersant

Gazprom’s EU customers not at risk for now

Gas Flame file photo

(Business New Europe – bne.ru – Teneo Intelligence – June 17, 2014) Following the failure of negotiations on natural gas pricing and debt between Russia and Ukraine last weekend, Russian company Gazprom reduced supply volumes to Ukraine, the main transit country for gas delivered to Gazprom’s EU customers. However, Gazprom continues to deliver contracted amounts

Exactly what is a fair price for Ukraine to pay for Russian gas?

Gas Facility file photo

(Business New Europe – bne.eu – Ben Aris in Moscow – June 16, 2014) [Charts here http://www.bne.eu/content/exactly-what-fair-price-ukraine-pay-russian-gas] Russia cut Ukraine off from gas deliveries on June 16 after the emergency talks at the weekend to strike a new price for gas failed. From now on Russia won’t deliver any gas unless Ukraine pays for it

Looking down the Russia-China pipeline from Beijing’s end

China Map

(Business New Europe – bne.eu – COMMENT: Karine Hirn, Partner and Senior Advisor at East Capital – June 17, 2014) The $400bn Russian gas pipeline deal has been hailed as a game-changer for Russia, but what does it mean for China? Pipelines are the geopolitical equivalent of marriage and China has happily tied itself to

Russia accuses West of “protecting” Ukraine at gas talks

Sergei Lavrov file photo

(Interfax – Moscow, June 15, 2014) Moscow believes that there may be a third power behind Ukraine’s intransigent position in its talks with Russia over gas. Russian Foreign Minister Sergey Lavrov told Russian journalists on Sunday [15 June] that the Ukrainian authorities are making use of “impunity because they are being protected by our Western

Russia cuts Ukrainian gas supplies

Gas Flame file photo

(Business New Europe – bne.eu – June 16, 2014) Russia’s state-owned Gazprom cut Ukraine’s gas supply off at 10 a.m. Moscow time for failing to pay its bills after talks broke down ahead of a June 16 deadline. “This decision was taken due to systematic failure of Naftogaz Ukraine to pay,” Gazprom said in a

NEWSLINK: Russia’s Gazprom reduces gas to Ukraine after deadline passes

Gas Facility file photo

["Russia's Gazprom reduces gas to Ukraine after deadline passes" - Maria Kiselyova, Denis Pinchuk - June 16, 2014] Reuters reports on Russia’s move to ratchet back gas flows to Ukraine, with potential also to impact Russian gas supplies to the EU: Russian natural gas exporter Gazprom reduced supplies to Ukraine on Monday after Kiev failed

Interfax: Conditions proposed to Ukraine on gas shipments better than those in place under Yanukovych – Miller

File Photo of Blue Flame from Natural Gas

GORKI. June 16 (Interfax) – The conditions that were proposed to Kyiv during gas talks were better than the conditions in place under former Ukrainian president Viktor Yanukovych, Gazprom (MOEX: GAZP) CEO Alexei Miller said at a meeting with Russian Prime Minister Dmitry Medvedev. Firstly, the Russian side was ready to guarantee that the discount

RIA Novosti: Europe Ready to Consider Opal Pipeline For Future Gas Supplies – Gazprom

Gas Flame file photo

MOSCOW, June 16 (RIA Novosti) – If Ukraine disrupts Russian gas transit via its territory, the European Commission is ready to negotiate increased deliveries through the Opal pipeline, Gazprom CEO Alexei Miller said Monday. “We have discussed this issue with the European Commission. It is now as follows: if we record problems with transit via

Switch to mobile version