Category: Oil, Gas, Energy

JRL NEWSWATCH: “Russian-Saudi Oil Cooperation Won’t Last; They say they will cut production. But it’s in the interests of both big oil producers to pump as much as they can.” – Bloomberg/Leonid Bershidsky

Economy, Business, Investment, Trade, JRL NewsBlog, Middle East, North Africa, Oil, Gas, Energy
Oil Well file photo

“There’s a nasty undercurrent to the surprisingly strong Saudi-Russian oil alliance behind the upcoming oil production cuts …. Saudi Crown Prince Mohammed bin Salman may high-five … Putin in public, but … expect[s] that Russia will disappear from the oil market …. Eventually … the two big exporters may not be interested in production-cutting deals as they square off for […]

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World Bank: Russia Can Withstand Oil Price Volatility In 2019

Economy, Business, Investment, Trade, Oil, Gas, Energy
World Bank Building

(Oilprice.com – Julianne Geiger – December 4, 2018) Russia is well-positioned to withstand external shocks, The World Bank said today in its most recent version of Russia Economic Report, cited by TASS. Oil prices are expected to average $71 per barrel over the next three years, the report also said, with the caveat that there is still “considerable uncertainty” to […]

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Russia Outmaneuvers U.S. LNG

Economy, Business, Investment, Trade, Europe, EU, Oil, Gas, Energy, United States, U.S.-Russian Relations
Gas Flame file photo

(Oilprice.com – Nick Cunningham – November 28, 2018) For years, boosters of U.S. LNG have trumpeted the fact that gas exports from the Gulf of Mexico could break Russia’s grip on the European energy market. That has yet to be the case, and in fact, Russia has managed to respond with various strategies to maintain its market share on the […]

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Russia Takes Major Leap In European Gas War

Europe, EU, Oil, Gas, Energy, Turkey
Gas Flame file photo

(Oilprice.com – Vanand Meliksetian – Nov. 17, 2018) [Text with links and graphics oilprice.com/Energy/Energy-General/Russia-Takes-Major-Leap-In-European-Gas-War.html] On November 19th, President Putin will stand shoulder to shoulder with President Erdogan during a ceremony to celebrate the completion of the first string of Turk Stream. The subsea gas pipeline will transfer 15.75 bcm directly from mainland Russia to Turkey. The capacity will double after […]

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Russia’s Most Powerful Oilman: We’re Fine With Any Oil Price

Economy, Business, Investment, Trade, Oil, Gas, Energy
Oil Well file photo

(Oilprice.com – Irina Slav – November 15, 2018) Rosneft is fine with any level of oil prices, chief executive Igor Sechin told Kommersant radio station as quoted by news agency TASS. “We manage risks. If prices fall, we will work on increasing our market share,” Sechin said, adding that if prices continued their current slide, Rosneft would focus on maintaining […]

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The Biggest Threat To Dollar Dominance

Economy, Business, Investment, Trade, Oil, Gas, Energy, Sanctions, United States, U.S.-Russian Relations
Diverse Paper Currency, Coins, Line Graph

(Oilprice.com – Irina Slav – November 12, 2018) Russian oil exporters are pressuring Western commodity traders to pay for Russian crude in euros and not dollars as Washington prepares more sanctions for the 2014 annexation of Crimea by Moscow, Reuters reported last week, citing as many as seven industry sources. While it may have come as a surprise to the […]

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JRL NEWSWATCH: “Russia clashes with Western oil buyers over new deals as sanctions loom” – Reuters

Economy, Business, Investment, Trade, JRL NewsBlog, Oil, Gas, Energy, Sanctions, United States, U.S.-Russian Relations
Oil Well file photo

“Russian energy majors are putting pressure on Western oil buyers to use euros instead of dollars for payments and introducing penalty clauses in contracts as Moscow seeks protection against possible new U.S. sanctions. … Western oil majors and trading houses have clashed with Russia’s third and fourth biggest producers, Gazprom Neft and Surgutneftegaz, over 2019 oil sales contract terms during […]

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JRL NEWSWATCH: “U.S. overtakes Russia to become the world’s biggest oil producer” – bne Intellinews

Economy, Business, Investment, Trade, JRL NewsBlog, Oil, Gas, Energy, United States, U.S.-Russian Relations
Offshore Oil Rig file photo

“The U.S. overtook Russia to become the world’s biggest producer of oil in August …. Russia has been the biggest single producer of oil in terms of barrels produced a day for several years, but the shale oil revolution in the U.S. has seen production there skyrocket …. As average oil prices rose to over $65 in the first quarter […]

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Can Russia Relieve The Iranian Oil Crisis?

Economy, Business, Investment, Trade, Iran, Oil, Gas, Energy
Iran Map and Flag

(Oilprice.com – Vanand Meliksetian – October 30, 2018) Charles de Gaulle once said: “no nation has friends, only interests.” Cooperation between Russia and Iran has been increasing over the years. The countries are drifting towards each other due to shared interests over topics such as Syria and opposition to a unipolar world led by the U.S. Although Moscow and Tehran […]

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JRL NEWSWATCH: “Russia, wary of U.S. sanctions, puts saving before growth” – Reuters/Darya Korsunskaya

Economy, Business, Investment, Trade, Oil, Gas, Energy, Politics, Government, Protests, Elections, Sanctions
Diverse Paper Currency, Coins, Line Graph

“Russia’s drive to fill state coffers to give itself a $200 billion buffer against threats like new U.S. sanctions … will come at the expense of economic growth. … With oil prices high, Russia has been steadily siphoning revenues from its major export into the National Wealth Fund (NWF). It has also raised oil industry taxes, hiked value-added tax and […]

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JRL NEWSWATCH: “U.S. Sanctions Give Russian Economy an Unintended Boost; For months, rising dollar-denominated oil prices, falling ruble have worked to Moscow’s benefit” – Wall Street Journal/ Avantika Chilkoti

Economy, Business, Investment, Trade, Iran, JRL NewsBlog, Oil, Gas, Energy, Sanctions, Transportation, United States, U.S.-Russian Relations
Oil Well file photo

“U.S. sanctions have driven the price of oil and the ruble apart – leaving Russia with expensive crude and a cheaper currency … helping its economy. The price of oil, Russia’s main export, has risen almost 14% since mid-August. … largely because of the coming resumption of U.S. sanctions against Iran, choking off the supply of crude from that country. […]

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JRL NEWSWATCH: “Russia Oil Production Jumps to a New Post-Soviet Record” – Bloomberg/Elena Mazneva

Budget, Economy, Business, Investment, Trade, JRL NewsBlog, Oil, Gas, Energy
Oil Well file photo

“Russia’s crude production has jumped to a new post-Soviet record, boosting … budget revenue as it prepares for talks with OPEC+ on further cooperation, according to a [Russian] government official. … currently fluctuating between 1.54 million and 1.55 million tons a day — driven mainly … Rosneft … 11.29 million to 11.36 million barrels a day, beating the previous record […]

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The U.S. Calls On Russia To Cap Soaring Oil Prices

Economy, Business, Investment, Trade, Oil, Gas, Energy, United States, U.S.-Russian Relations
Offshore Oil Rig file photo

(Oilprice.com – Tim Daiss – September 15, 2018 – oilprice.com/Geopolitics/International/The-US-Calls-On-Russia-To-Cap-Soaring-Oil-Prices.html) As crucial mid-term congressional elections in November draw near, the Trump administration is feeling the heat over higher oil prices. London-traded global oil benchmark Brent breached the $80 per barrel price point on Wednesday, its highest level since May 2. NYMEX-traded U.S. oil benchmark West Texas Intermediate Crude (WTI) reached […]

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JRL NEWSWATCH: “Hungarian PM reaches agreement on gas deliveries from Russia to 2020” – bne Intellinews

Economy, Business, Investment, Trade, Europe, EU, Hungary, Oil, Gas, Energy
Gas Flame file photo

“Hungary has reached an agreement on gas deliveries from Russia for both 2019 and 2020, Prime Minister Viktor Orban said at a joint press conference with … Putin … [Orban] has built strong ties with Putin over the years, defying his EU partners. The Russian president has become his main ally since he announced his plans to build an illiberal […]

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Russia Looks To Boost Gas Sales In Tighter European Markets

Economy, Business, Investment, Trade, Europe, EU, Oil, Gas, Energy
Gas Flame file photo

(Oilprice.com – Tsvetana Paraskova – September 8, 2018) Western Europe will need more flexibility in natural gas supplies in the coming winter season. The European market has been tight amid higher demand in the summer’s heat wave, while natural gas stockpiles are lower than usual after one of the coldest winters in the past decade. Liquefied natural gas (LNG) is […]

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JRL NEWSWATCH: “Russian oil and gas groups shrug off sanctions; Higher crude prices and weakened rouble bolster producers’ profits” Financial Times/Henry Foy

Economy, Business, Investment, Trade, JRL NewsBlog, Oil, Gas, Energy, Sanctions
Gas Facility file photo

“Higher energy prices and a weakened rouble saw second-quarter profits soar at three of Russia’s largest oil and gas groups … the country’s energy industry … has weathered international sanctions to reap strong earnings. Gazprom, the world’s largest gas producer, said … second-quarter profits had risen an annual 440 per cent … both exports to Europe and average prices jumped. […]

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JRL NEWSWATCH: “Busting Nord Stream 2 myths” – bne Intellinews/Ben Aris

Economy, Business, Investment, Trade, Europe, EU, JRL NewsBlog, Oil, Gas, Energy, United States, U.S.-Russian Relations
Gas Flame file photo

“The proposed expansion of the capacity of the Nord Stream gas pipeline in Europe’s north, running from Russia’s Yamal gas fields to the German coast, has split Europe …. detractors claim it will make Europe more dependent on Russian gas and give the Kremlin a bigger club … to bully the rest of Europe. … supporters say it will diversify […]

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U.S. Sanctions Wreak Havoc On Russia’s Oil Industry

Economy, Business, Investment, Trade, Oil, Gas, Energy, United States, U.S.-Russian Relations
Oil Well file photo

(Oilprice.com – Tsvetana Paraskova – August 23, 2018) [Text with links: oilprice.com/Energy/Energy-General/US-Sanctions-Wreak-Havoc-On-Russias-Oil-Industry.html] The U.S. sanctions on Russia have affected investment in Russian oil and gas exploration projects, U.S. officials say, while Congress is considering further sanctions on the energy and banking sectors to punish Moscow for the threat it poses to the United States. At Senate hearings on Tuesday, a […]

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JRL NEWSWATCH: “Ukraine marks 1,000 days without Russian gas” – Interfax-Ukraine

JRL NewsBlog, Oil, Gas, Energy, Ukraine, Russo-Ukrainian War
Gas Flame file photo

“Naftogaz of Ukraine has not been buying natural gas from Russia’s Gazprom for 1,000 days. Since Nov. 26, 2015, the country has been instead importing gas from the West. …  in December 2017, the Arbitration Institute of the Stockholm Chamber of Commerce revised the contract between Naftogaz and Gazprom. … rul[ing] that the price of gas for Naftogaz must be […]

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NEWSLINK: “Russia’s got the gas and is ready to set fire to our system of democracy” – Miami Herald/Markos Kounalakis

Economy, Business, Investment, Trade, Newslinks, Oil, Gas, Energy, Sanctions, United States, U.S.-Russian Relations
Kremlin and River

“… even a currency crunch won’t stop Russia’s foreign interventions because, despite punitive sanctions, the price of oil, ultimately, pays for its troublemaking. High energy prices are the cost of power transferred from Europe and the United States to Russia and other petrostates. The higher the Brent crude price and the market for natural gas, the greater Russia’s domestic tranquility […]

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RUSSIALINK: “Sustainable energy, Russian energy sector development through 2024 to top agenda of Energy Week – Novak” – Interfax

Oil, Gas, Energy
Gas Flame file photo

MOSCOW. Aug 22 (Interfax) – Sustainable energy, development plans of the Russian fuel and energy sector, and opportunities that investors will enjoy thanks to the launch of large-scale energy projects will top the agenda of Russian Energy Week, which will take place in Moscow on October 3-6, Russian Energy Minister Alexander Novak said. “This year, the main areas of discussion […]

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Analysts: Russia’s Oil Industry Won’t Crumble Under U.S. ‘Bill From Hell’

Economy, Business, Investment, Trade, Oil, Gas, Energy, Sanctions, United States, U.S.-Russian Relations
American Flag and Partial View of U.S. Capitol Dome, adapted from image at aoc.gov

(Oilprice.com – Tsvetana Paraskova – August 17, 2018) The ‘bill from hell’ of hard-hitting sanctions against Russia that U.S. Senators introduced earlier this month is unlikely to have a wide-ranging impact on Russia’s oil industry, analysts and economists tell Reuters. Since the United States slapped sanctions on Russia in 2014 over the Crimea annexation, Russian oil firms have drastically cut […]

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Is This The Most Important Geopolitical Deal Of 2018?

Azerbaijan, South Caucasus, Central Asia, Iran, Kazakhstan, Oil, Gas, Energy, Turkmenistan

(Oilprice.com – Olgu Okumus – August 13, 2018 – oilprice.com/Geopolitics/Asia/Is-This-The-Most-Important-Geopolitical-Deal-Of-2018.html) The two-decade-long dispute on the statute of the Caspian Sea, the world largest water reserve, came to an end last Sunday when five littoral states (Russia, Iran, Turkmenistan, Kazakhstan and Azerbaijan) agreed to give it a special legal status – it is now neither a sea, nor a lake. Before […]

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JRL NEWSWATCH: “Russia to increase oil production to new record highs in 2019” – bne Intellinews

Economy, Business, Investment, Trade, Oil, Gas, Energy
File Photo of Rosneft and Russian Flags Next to Rosneft Banner

“… [According to OPEC,] Russian oil production has increased recently to a record 11.2mn barrels a day …. Russian state-owned oil producer Rosneft has already earned more profit in the first quarter of this year than in all of 2017 … ma[king] it the most valuable company in the country. The Russia’s energy ministry has raised its forecast for oil […]

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A Landmark Caspian Agreement — And What It Resolves

Central Asia, Oil, Gas, Energy

(Article ©2018 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – – Bruce Pannier – August 9, 2018- also appeared at rferl.org/a/qishloq-ovozi-landmark-caspian-agreement–and-what-it-resolves/29424824.html) It has taken more than 20 years. But on August 12, the leaders of Azerbaijan, Iran,  Kazakhstan, Russia, and Turkmenistan will meet in the Kazakh port city of Aqtau, reportedly to sign a new convention on the legal status […]

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JRL NEWSWATCH: “U.S. to impose ‘crushing’ set of sanctions on Russia’s debt and oil” – bne Intellinews/Ben Aris

Cybersecurity, Economy, Business, Investment, Trade, JRL NewsBlog, Oil, Gas, Energy, Sanctions, Ukraine, Russo-Ukrainian War, United States, U.S.-Russian Relations
American Flag and Partial View of U.S. Capitol Dome, adapted from image at aoc.gov

“A proposed ‘crushing’ bipartisan bill introduced by the … Senate … will not be debated until … autumn and many … harsh terms could be considerably watered down, Luis Saenz, … co-head of equities at BCS Global Markets said …. [The] bill … targets Russian debt and energy companies, designed to punish Russia for interfering in the U.S. presidential election, […]

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RUSSIALINK: “Western Sanctions on Russia’s Oil and Gas Sector: a Damage Assessment” – Carnegie Moscow/Tatiana Mitrova

Economy, Business, Investment, Trade, Newslinks, Oil, Gas, Energy, Sanctions, United States, U.S.-Russian Relations
Oil Well file photo

“Don’t be misled by Western sanctions’ limited impact on Russia. In reality, they operate with an accumulating effect: the more time passes, the greater the potential technological backlog, financing gap, and negative consequences will be. In the long run, sanctions may jeopardize Russia’s oil and gas production volumes and the development of pipeline infrastructure, gradually squeezing the country out of […]

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In Helsinki, Trump Takes ‘Do No Harm’ Approach to Russia on 2 Issues: Syria and Energy

Oil, Gas, Energy, Syria, United States, U.S.-Russian Relations
File Photo of Donald Trump and Putin Standing Side-by-Side at Helsinki Summit, adapted from image at whitehouse.gov

(Russia Matters – russiamatters.org – Nikolas K. Gvosdev – July 17, 2018 – russiamatters.org/analysis/helsinki-trump-takes-do-no-harm-approach-russia-2-issues-syria-and-energy) Senior Fellow, Foreign Policy Research Institute; Senior Fellow, Carnegie Council on Ethics and International Affairs Despite some predictions that President Donald Trump would announce U.S. recognition of Russia’s annexation of Crimea, or cancel U.S. military deployments to Eastern Europe and the Baltic states, his summit in […]

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JRL NEWSWATCH: “U.S.-Russia Relations are Stuck on Repeat; Both Trump and Putin are now locked into narratives about what did (or did not) happen that prevent this issue from being dealt with-and this holds the entire rest of the bilateral agenda hostage” – The National Interest/Nikolas K. Gvosdev

Economy, Business, Investment, Trade, JRL NewsBlog, Oil, Gas, Energy, United States, U.S.-Russian Relations
File Photo of Donald Trump and Putin Standing Side-by-Side at Helsinki Summit, adapted from image at whitehouse.gov

“… the United States has not altered its position that Crimea remains a part of Ukraine and continues to deny any recognition that … annexation … [by Russia] was legal. … the United States has not, as a result of the Helsinki meeting, agreed to stop providing Ukraine with weapons or to cease the training of the Ukrainian military. … […]

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JRL NEWSWATCH: “Russia Is Building $320 Million Icebreakers to Carve New Arctic Routes; The 1,000-foot-long vessels for hauling liquefied natural gas can cut through ice up to 7 feet thick” – Bloomberg/Eric Roston

Arctic, JRL NewsBlog, Oil, Gas, Energy, Transportation
Arctic Map

“… there’s no less hospitable an industrial workplace than Yamal LNG, a $27 billion liquid natural gas plant … in Russian territory 375 miles north of the Arctic Circle. In the winter, when there’s zero sun for more than two months, temperatures reach -13F on land and -58F in the blinding fog out at sea. … [T]here’s a lot of […]

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Russia’s Finance Ministry Warns Of Another Price Collapse

Iran, Middle East, North Africa, Oil, Gas, Energy
Oil Well file photo

(Oilprice.com – Irina Slav – July 9, 2018 – oilprice.com/Energy/Energy-General/Russias-Finance-Ministry-Warns-Of-Another-Price-Collapse.html) If prices remain at their current level, another collapse could be around the corner, the Russian Finance Ministry has warned in a report, cited by Sputnik. According to the report, the long-term equilibrium price level for crude oil is currently around US$50-60 a barrel, but actual prices are substantially higher […]

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U.S. And Russia To Dominate World’s Oil & Gas Pipeline Spending

Economy, Business, Investment, Trade, Oil, Gas, Energy, United States, U.S.-Russian Relations
Gas Flame file photo

(Oilprice.com – Tsvetana Paraskova – June 28, 2018) The U.S. shale boom and the massive Russian expansion of natural gas pipelines will make the United States and Russia the dominant spenders on oil, petroleum products, and natural gas pipelines through 2022, data and analytics company GlobalData says in a new report. The other big spenders between 2018 and 2022 will […]

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JRL NEWSWATCH: “As OPEC watches nervously, Russia and Saudi Arabia create a new axis – of oil; Russia is trying to be friends with everyone at once, and wielding growing influence” – Christian Scicence Monitor/Fred Weir

Economy, Business, Investment, Trade, Middle East, North Africa, Oil, Gas, Energy, Saudi Arabia
Middle East Map

“… Russia and Saudi Arabia ha[ve] agreed to ‘institutionalize’ their two-year old bilateral arrangement to coordinate oil production targets in order to smooth out global price fluctuations. Being two of the world’s three biggest oil producers – the third is the United States – their combined weight can be decisive. In 2016, Moscow and Riyadh agreed to slash production, and […]

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JRL NEWSWATCH: “Russia-Saudi Plans for Super-OPEC Could Reshape Global Oil Order” – Bloomberg/Will Kennedy, Elena Mazneva, Wael Mahdi

Economy, Business, Investment, Trade, Middle East, North Africa, Oil, Gas, Energy
File Photo of King Salman of Saudi Arabia Seated Next to Saudi Flag and Gesturing, adapted from image at defense.gov

“… the group overseeing the so-called OPEC+ deal met last night [with] proceedings … dominated by … Saudi Arabia and Russia. … probably a snapshot of the oil market’s future.  Beyond … this week’s diplomatic efforts to agree to an increase in oil production, the more significant longer-term development may be moves to make Russia’s role in managing global supply […]

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Russia’s Oil Sector Is Facing A Massive Tax Overhaul

Budget, Economy, Business, Investment, Trade, Oil, Gas, Energy, Politics, Government, Protests, Elections
Oil Well file photo

(Oilprice.com – Irina Slav – June 11, 2018) A major tax overhaul in Russia’s oil industry is about to start pressuring the earnings of major oil companies. Refiners will be hit hardest as the overhaul will increase the tax burden on downstream operations while the upstream sector will see taxes shift from production-based to profit-based. Last week, the Finance and […]

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JRL NEWSWATCH: “Transformed Gas Markets Fuel U.S.-Russian Rivalry, But Europe Plays Key Role Too [Excerpt]” – Russia Matters/Morena Skalamera

Economy, Business, Investment, Trade, Europe, EU, JRL NewsBlog, Oil, Gas, Energy, United States, U.S.-Russian Relations
Gas Flame file photo

[Full text: russiamatters.org/analysis/transformed-gas-markets-fuel-us-russian-rivalry-europe-plays-key-role-too; This article first appeared on the Russia Matters website, russiamatters.org, with the title “Transformed Gas Markets Fuel U.S.-Russian Rivalry, But Europe Plays Key Role Too”] “This month, the Wall Street Journal reported that U.S. President Donald Trump has been pressuring Germany to drop its support for a major new Russian gas pipeline if Europe wants to avoid […]

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Russia Just Won Big In The European Gas War

Economy, Business, Investment, Trade, Europe, EU, Oil, Gas, Energy, United States, U.S.-Russian Relations
Gas Facility file photo

(Oilprice.com – Tim Daiss – May 28, 2018) There’s been a lot of talk on both sides of the Atlantic about the U.S. pivot and efforts at locking in natural as market share in Europe. Much of this comes amid President Donald Trump’s so-called American energy independence push as well as both U.S. and several EU members thrust to wean […]

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NEWSWATCH: “Russia Flexes Its Soft Power Muscles; Extending output cuts deepens its role in global affairs” – Bloomberg/Julian Lee

Economy, Business, Investment, Trade, Middle East, North Africa, Oil, Gas, Energy, Saudi Arabia
File Photo of King Salman of Saudi Arabia Seated Next to Saudi Flag and Gesturing, adapted from image at defense.gov

“Oil has … [surpassed] $80 a barrel for the first time since November 2014. OPEC’s inventory target for output cuts has been met. … even though [Russian] oil companies want to turn on the taps and its finance ministry may be worried about prices rising too far, Russia won’t [end] its output deal with the group … when … participants […]

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Is Russia About To Abandon The OPEC Deal?

Economy, Business, Investment, Trade, Oil, Gas, Energy
Oil Well file photo

(Oilprice.com – Irina Slav – May 17, 2018) OPEC and Russia are meeting in a little more than a month to discuss the progress of their oil production deal and what’s next. On the face of things, there will be no surprises: every country taking part in the deal is still committed to the cuts until the end of the […]

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‘Thank You, Donald’ for Sending Oil Prices Up, Russian Commentator Says

Economy, Business, Investment, Trade, Oil, Gas, Energy, United States, U.S.-Russian Relations
Oil Wells File Photo

(Paul Goble – Window on Eurasia – Staunton, May 13, 2018) As a result of rising petroleum prices and projections that they will go even higher as result of instability in the Middle East, the Russian Federation is projected to earn five times as much from the sale of oil and gas this year than last and have a budget […]

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Expert Analysis: What’s Next For Russian Oil

Economy, Business, Investment, Trade, Oil, Gas, Energy, Politics, Government, Protests, Elections
Oil Well file photo

(Oilprice.com – Viktor Katona – May 14, 2018) [Text with links oilprice.com/Energy/Energy-General/Expert-Analysis-Whats-Next-For-Russian-Oil.html] In the wake of Putin’s May 7 inauguration, the corridors of power in Moscow have been replete with speculation regarding the composition of the next government. Alexander Novak, the Energy Minister, is one of the lucky few whose performance President Putin was genuinely satisfied with, hence the lack […]

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Putin: Russia Looks To Get Free Of U.S. Dollar ‘Burden’ In Oil Trade

Economy, Business, Investment, Trade, Oil, Gas, Energy, United States, U.S.-Russian Relations
Offshore Oil Rig file photo

(Oilprice.com – Tsvetana Paraskova – May 9, 2018) Russia is mulling over ways to ‘get free’ of the U.S. dollar burden in oil trade as part of a plan to boost its national economic sovereignty, Russian President Vladimir Putin said. “Oil is traded in dollars on the exchange,” TASS news agency quoted Putin as saying. “Certainly, we are thinking about […]

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Europe Buys More Russian Gas Despite Strained Relations

Economy, Business, Investment, Trade, Europe, EU, Oil, Gas, Energy
Gas Flame file photo

(Oilprice.com – Tsvetana Paraskova – May 8, 2018) The West-Russia relations have reached a new low since the Cold War amid the spy poisoning scandal in the UK, allegations of Russian meddling in elections, and fresh U.S. sanctions on Russia. Yet European countries continue to buy increased amounts of Russian gas, and Russia’s state-held gas giant Gazprom is boosting production […]

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NEWSWATCH: “Misplaced Fears Over Nord Stream 2; Nord Stream 2 provides another reliable route for transporting gas to Europe, nothing more, nothing less.” – The National Interest/Klaus Schäfer, Mario Mehren, Rainer Seele

Economy, Business, Investment, Trade, Environment, JRL NewsBlog, Oil, Gas, Energy
Gas Flame file photo

“… The European gas market has … modernized and liberalized over the last decade. …. The Third Energy Package put in place a well-developed, intra-European framework of hubs that allows gas to flow freely in multiple directions from a variety of points of origin. … allow[ing] European consumers to buy gas from whomever they wish … [it] simply does not […]

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NEWSWATCH: “Russia in interesting times: increased risk bad; weaker ruble good” – bne Intellinews/Chris Weafer

Economy, Business, Investment, Trade, Oil, Gas, Energy, Politics, Government, Protests, Elections, Sanctions
Portion of U.S. Treasury Department Building Facade, North Side, with Sculpture of Alexander Hamilton

“… April 6 U.S. sanctions [represent a significant shift] in terms of risk … actual and perceived, for foreign investors and companies …. The … Treasury Department … expanded the risk paramaters … targeting oligarchs and their business interests … previously it was assumed that sanctions expansion would be confined to political targets and individuals considered close to the president […]

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NEWSWATCH: “Putin’s Turkey visit brings S-400 missile and nuclear plant headway” – bne Intellinews

Arms Trade, Military Aid, Economy, Business, Investment, Trade, JRL NewsBlog, Middle East, North Africa, Military, Nuclear Energy, Nuclear, Missile Defense, Oil, Gas, Energy
Turkey and Environs Satellite Image

“… Erdogan received … Putin in Ankara … with a crowded agenda … including … Turkey’s first nuclear power plant, the purchase of the Russian S-400 missile defence system and progress with the TurkStream natural gas pipeline …. even more challenging … with the scheduled arrival of Iranian President Hassan Rouhani and … the complicated task of finding an end-game […]

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NEWSWATCH: “Russian Billionaire Arrest Jolts Stocks, Fuels Cabinet Shake-Up Speculation” – Bloomberg/Ksenia Galouchko, Ilya Arkhipov, Stepan Kravchenko

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, JRL NewsBlog, Oil, Gas, Energy, Politics, Government, Protests, Elections, Transportation
Map of Russia and Russian Flag adapted from images at state.gov

“The arrest of one of Russia’s best-connected billionaires on charges of fraud and embezzlement knocked shares in his companies lower and fueled speculation it could be the harbinger of a shake-up in the cabinet …. [Dagestani-born] Ziyavudin Magomedov was arrested … with his brother … as he prepared to fly to the U.S. … he denied the charges but was […]

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NEWSLINK: “Russia Wormed Its Way Into Access at Power Plants, U.S. Says; Cyberattacks Put Russian Fingers on the Switch at Power Plants, U.S. Says” – New York Times

Cybersecurity, Newslinks, Oil, Gas, Energy, Terrorism, United States, U.S.-Russian Relations
Electrical Yard file photo

“The Trump administration accused Russia … of engineering a series of cyberattacks that targeted American and European nuclear power plants and water and electric systems, and could have sabotaged or shut power plants off at will. United States officials and private security firms saw the attacks as a signal by Moscow that it could disrupt the West’s critical facilities in […]

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NEWSWATCH: “Why Is Russian Gas in Boston Harbor? Environmentalists’ war on fossil fuels helps Vladimir Putin” – Wall Street Journal/Drew Johnson

Economy, Business, Investment, Trade, Environment, JRL NewsBlog, Oil, Gas, Energy, United States, U.S.-Russian Relations
Gas Flame file photo

“Why are some parts of America reliant on Russian natural gas, especially when domestic gas production has surged? … [it’s] political. … Massachusetts and New Hampshire [officials] blocked … the $3 billion Access Northeast Pipeline, which would have … provided fuel to three New England states. … [the] Massachusetts Attorney General … claimed the state could ‘maintain electric reliability’ without […]

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NEWSWATCH: “Ukraine maintains gas transit to Europe despite new gas war with Russia” – Intellinews/Ben Aris

JRL NewsBlog, Oil, Gas, Energy, Ukraine, Russo-Ukrainian War
Gas Flame file photo

“Fears that Russia would stop sending transit gas to its European customers via Ukraine were not borne out over the weekend despite Russian state own gas monopolist Gazprom’s announcement that it was going to break its contracts with its Ukrainian counter party Naftogaz on March 2. Naftogaz immediately announced emergency measures, calling on Ukrainians to turn down the thermostat, switching […]

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