Russia Slashes 2021-2022 Oil Production Forecasts
Russia is slashing … estimates for domestic crude oil, gas, and coal production for 2021 and 2022, according to … the government’s program for energy development […]
» Read moreCategory: Oil, Gas, Energy
Russia Is Being Left Behind In The Energy Transition
… Putin’s strategy is simple: deny, deny, deny[,] [w]hile other fossil-fuel dependent economies scramble to diversify or race to build up clean energy infrastructure in a bid to put themselves at the forefront of the coming renewable revolution […]
» Read moreRussia Optimistic About Rising Demand As OPEC+ Agrees To Increase Oil Output
The OPEC+ group of oil producing countries, led by Saudi Arabia and Russia, has agreed to increase oil output gradually over the next months […]
» Read moreJRL NEWSWATCH: “Russia seizes on Suez blockage to promote merits of Arctic route” – Financial Times
Moscow is busy highlighting the northern sea route and Nordstream as alternatives for world trade […]
» Read moreRUSSIALINK: “Could Russia Benefit From the Suez Canal Blockage?” – Moscow Times
The Kremlin wants to use the grounding of the Ever Given ship to promote its Northern Sea Route and counter European concerns over Nord Stream 2. (Moscow Times – themoscowtimes.com – Jake Cordell – March 26, 2021) Almost $300 million worth of Russian oil products are waiting to enter the Suez Canal, which remains closed following the grounding of the […]
» Read moreJRL NEWSWATCH: “About the Kremlin Propaganda — Our Democracy Needs To Be Protected” – Bild
“As a dictator, … Putin has continued what he failed to do as a KGB agent in the GDR [East Germany] … his fight against a freedom-loving Germany and a united Europe. For years, Putin has been running riot with impunity in [Germany]. … buying off influential ex-politicians with lucrative oil projects, such as Nord Stream 2. … support[ing] the […]
» Read moreJRL NEWSWATCH: “Where Climate Scientists See Danger, Russia Sees an Opportunity” – Bloomberg
“Rising temperatures in the Arctic are a warning sign for the planet. The melting ice has an economic upside for Russia.” “Russia … fourth-biggest [greenhouse gas] emitter … [also faces Arctic] temperatures … warming more than twice [that of global rates] …. [With] more than a fifth of the planet’s forests, Russia has [had] two consecutive years of record-breaking wildfires […]
» Read moreJRL NEWSWATCH AUDIO: “Biden Faces Decision On Gas Pipeline From Russia That Could Alienate Germany” – NPR
“The Biden administration has to decide whether to alienate Germany … continuing … Trump administration[] sanctions on companies building Germany’s gas pipeline from Russia. … Hundreds of feet below the surface of the Baltic Sea is an enormously long pipeline, snaking from northern Russia to Germany. … Nord Stream 2 … [would] roughly double Europe’s energy supply when … finished. […]
» Read moreGazprom Plans To Start Nord Stream 2 Gas Pipeline This Year
Russia’s gas giant Gazprom plans to commission the controversial natural gas pipeline Nord Stream 2 this year, … TASS reported […]
» Read moreRUSSIALINK: “Gazprom Sets Record High Gas Exports to Europe” – Moscow Times
Russia’s gas exports to Europe hit a record high in January, according to … VTB Capital, as pressure over … Nord Stream 2 … continues to mount […]
» Read moreRussia Expects Oil Between $45 And $80 By 2035
Crude oil prices will trade in a range between $45 a barrel and $80 a barrel in the period until 2035, under a set of scenarios developed by the Russian energy ministry […]
» Read moreRUSSIALINK: “Global structure of energy consumption unlikely to change much in coming decades, role of hydrocarbons to remain – Putin” – Interfax
MOSCOW. Jan 25 (Interfax) – The structure of energy consumption worldwide is unlikely to change significantly, with hydrocarbons all the same set to remain in demand for a long period, Russian President Vladimir Putin said on Monday during a meeting of the government with university students to mark the occasion of the country’s Students’ Day. “The whole world is absorbed […]
» Read moreJRL NEWSWATCH: “Russia Prepares Earliest-Ever Arctic LNG Shipment to Asia” – Bloomberg/ Irina Reznik, Anna Shiryaevskaya, Dina Khrennikova, Olga Tanas
“Russia is preparing to make the earliest-ever shipment of liquefied natural gas to Asia, taking advantage of thinning ice in the Arctic … paving the way for a record-long navigation season …. [S]uper-chilled cargo from Novatek PJSC’s Yamal LNG facility in early May will beat last year’s record for the start of eastbound voyages through the Northern Sea Route … […]
» Read moreRUSSIALINK: “U.S. Will Lift Nord Stream 2 Sanctions if Europe Suspends Construction, Says Biden Advisor” – Moscow Times
… The U.S. imposed sanctions at the end of 2019 in an effort to halt the construction of the pipeline, which will transport Russian gas to Europe […]
» Read moreJRL NEWSWATCH: “Energy deals point to thawing of Belarus-Russia relations” – Financial Times
“Moscow’s attitude towards Minsk had cooled in wake of protests against Lukashenko” “… Lukashenko[,] … rul[ing] Belarus since 1994, has faced massive street protests and unprecedented public anger since … [a] presidential election … [that] western countries said was falsified. His regime’s brutal crackdown … prompted … U.S., EU and UK … sanctions … and even sparked [Kremlin] anger …. […]
» Read moreRussia Cries War As U.S. Tries To Kill Nord Stream 2
(Oilprice.com – Tsvetana Paraskova – Dec. 21, 2020) The widening U.S. sanctions on the Russia-led natural gas pipeline project Nord Stream 2 are a kind of hybrid warfare used by the United States, Vladimir Putin’s Press Secretary Dmitry Peskov said on Monday. “This is indeed a variant of hybrid warfare, it is used as a hybrid war by the United […]
» Read moreRUSSIALINK: “IMEMO, Interfax expert meeting with special guest Deputy Prime Minister Novak addresses protracted oil demand recovery” – Interfax
MOSCOW. Dec 21 (Interfax) – The third expert meeting of the joint project of the Russian Academy of Sciences’ Institute of World Economy and International Relations (IMEMO) and Interfax titled ‘Russia and the World: A Professional Conversation’ took place on December 21 with the special guest Deputy Prime Minister Alexander Novak. The experts discussed the protracted oil demand recovery on […]
» Read moreRUSSIALINK: “Russia needs to diversify energy exports amid developing global climate agenda” – Interfax
MOSCOW. Dec 22 (Interfax) – Russia needs to develop its domestic market and diversify energy exports amid the rise in the global climate agenda as well as the decline in energy demand owing to advances in technology, Russian Deputy Prime Minister Alexander Novak said during a meeting with President Vladimir Putin. “As part of climate resilience, certain requirements are being […]
» Read morePutin: Russia Reduces Its Dependence On Oil
(Oilprice.com – Irina Slav – Dec. 17, 2020) Russia is successfully weaning itself off oil revenues, President Vladimir Putin said today during an annual end-of-the-year news conference, as quoted by RT. “This means that, while we’re not completely there, we are nonetheless starting to get off the so-called oil and gas needle,” Putin said, adding, “If someone still wants to […]
» Read moreRussia’s Relentless Quest For Arctic Oil
… Confronted with a series of delays, oftentimes quite problematic, … the Russian Energy Ministry has started to gradually soften up long-term objectives […]
» Read moreJRL NEWSWATCH: “U.S. Broadens Sanctions to Thwart Completion of Russian Gas Pipeline” – Wall Street Journal/ Brett Forrest
“New measures target companies that would provide services or funding for vessels working on Nord Stream 2” “… [2019] U.S. Sanctions … focused on pipe-laying vessels for Nord Stream 2 and halted the $10.5 billion [natural gas] pipeline[,] … designed to transmit Russian gas to Germany, 100 miles short … beneath the Baltic Sea. … [A] State Department [web announcement] […]
» Read moreNord Stream 2 Nears Completion After Clearing Another Hurdle
Denmark cleared … the final hurdle to Nord Stream 2 potentially starting operations in Danish waters, while the U.S. continues its attempt to stop the Russia-led natural gas pipeline project […]
» Read moreRussia Calls For A Global Response To The Oil Demand Crisis
(Oilprice.com – Irina Slav – Sept. 28, 2020) All players on the global energy market need to act together to tackle the effects of the pandemic on oil demand, Russia’s Energy Minister Alexander Novak said at a virtual meeting of G20 energy ministers this weekend. “Our task, as the leaders of the energy industry, is to show stamina and solidarity […]
» Read moreBelarus Crisis Highlights Europe’s Energy Problem
(Oilprice.com – Vanand Meliksetian – Sept. 24, 2020) The ongoing demonstrations in Belarus and the looming instability are a threat to both Russia and the EU. Moscow prefers the continuation of Lukashenko’s regime due to political reasons. Europe, on the other hand, faces an energy crisis if the situation escalates which could lead to a disruption of supplies. Belarus’ geographic […]
» Read moreJRL NEWSWATCH: “Navalny and Nord Stream 2; The poisoned Russian dissident opens a door for a Trump priority” – Wall Street Journal Editorial
“[G7] [f]oreign ministers … issued a joint statement … condemning … ‘the confirmed poisoning’ of … Navalny. … sa[ying] Germany … has concluded … he was ‘the victim of an attack with a chemical nerve-agent of the “Novichok” group, a substance developed by Russia.’ It called on Russia to investigate who is responsible, ‘bearing in mind Russia’s commitments under the […]
» Read moreRussian Fuel Oil Is A Hit In The U.S.
(oilprice.com – Viktor Katona – Sept. 8, 2020) The issue of US-Russia energy ties has been enjoying a bit of media spotlight as President Trump accused Democrats in New England of purchasing Russian crude to the detriment of national economic interests. Technically, this claim is true only to a marginal extent – most of the Russian crude exports to the […]
» Read moreRUSSIALINK: “What is Nord Stream 2 and Why Might Navalny’s Poisoning Stop Its Completion?” – Moscow Times
The confirmation that Russian opposition leader Alexei Navalny was poisoned with Novichok has heightened calls for Germany to review its support for Nord Stream 2 […]
» Read moreRUSSIALINK: “Travel Ban, Oil Supplies on Russia-Belarus Agenda” – Moscow Times
(Moscow Times – themoscowtimes.com – Sept. 4, 2020) Russia and Belarus are preparing to reopen borders that were closed because of the coronavirus pandemic and are discussing rerouting Belarusian oil exports through Russia, news outlets reported after high-level talks Thursday. Russian Prime Minister Mikhail Mishustin and his delegation met Belarusian President Alexander Lukashenko and his government in Minsk amid continuing […]
» Read moreJRL NEWSWATCH: “Belarus’ Soviet-era economy still propped up by Moscow” – Deutsche Welle/ Nik Martin
“Belarus has one of the lowest poverty rates in Europe, but economic growth is anemic due to archaic state-run industries and the ending of Russian energy subsidies. Its biggest political crisis is even more of a threat.” “… Belarus’ dependence on energy-rich Russia is ever more evident …. Moscow has already offered to help bolster security [amidst the current crisis] […]
» Read moreIs This The Next Major Market For Russian LNG?
(oilprice.com – Viktor Katona – Aug. 17, 2020) Russia’s ambitious LNG plans have so far based on two producing assets – the Gazprom-operated Sakhalin LNG and the NOVATEK-operated Yamal LNG. The addition of Yamal LNG into its portfolio has helped to boost its clout (growing from 4% of global LNG trade to 8% currently) yet the actual numbers of assets […]
» Read morePompeo Says U.S. Will ‘Do Everything’ To Stop Nord Stream 2 Project
… The United States opposes the Nord Stream 2 pipeline, which would run under the Baltic Sea and double Russia’s direct natural gas exports to Germany while bypassing Ukraine […]
» Read moreRussia Considers Emulating The World’s Largest Oil Hedge
(Oilprice.com – Tsvetana Paraskova – July 22, 2020) Russia is considering whether to adopt a kind of state oil hedging program, similar to Mexico’s oil hedge, to protect government revenues from oil price crashes in the future, Russian news agency Interfax reported on Wednesday, quoting sources familiar with the matter. The Mexican oil hedge, or the Hacienda Hedge, is considered […]
» Read moreJRL NEWSWATCH: “There Is No Arctic Axis; Russia and China’s partnership in the north is primarily driven by business, not politics.” – Foreign Policy/ Elizabeth Buchanan
“… [C]ommercial realpolitik is at the heart of [Russia and China’s Arctic] engagement. … [even as it] navigates existing fault lines, such as Beijing’s failure to acknowledge Russia’s annexation of Crimea and Moscow’s nonalignment in the … India-China conflict. … [R]egional cooperation is due to … shared interest[s] in maintaining domestic stability. Long-term economic development ventures and the viability of […]
» Read moreJRL NEWSWATCH: “Putin’s Folly; Pompeo may be in an uproar over Russia’s Nord Stream 2 pipeline, but it is hardly the geopolitical masterstroke he imagines.” – Foreign Policy/ Chris Miller
“As the United States [adds] … pressure … against Nord Stream 2, friction with Germany, which would receive much of the pipeline’s gas, will intensify. …. Many countries in Central and Eastern Europe see the pipeline as a glaring example of German hypocrisy … Berlin lectures them about carbon neutrality and human rights while guzzling fossil fuels from one of […]
» Read moreJRL NEWSWATCH: “Realism in the Arctic” – The National Interest/ Kenneth Yalowitz, Ross A. Virginia
“The United States and Russia have disagreements on many issues, including the organization of the international system. No ‘reset’ in relations is in sight but there is a need to put a floor in the relationship and work on possible areas for cooperation. The Arctic can be one.” “… The Arctic is [Russia’s] highest priority strategic national interest …. Arctic […]
» Read moreOil Price Crash Causes Major Recession In Russia
The oil price crash that Russia helped create, along with the coronavirus-driven global recession, will result in Russia’s economy shrinking this year by the most in 11 years, the World Bank said […]
» Read moreRUSSIALINK: “Denmark Paves Way for Russia’s Nord Stream 2 Restart” – Moscow Times
Russia could restart construction on final pipeline stretch, while U.S. mulls super sanctions bill against project […]
» Read moreRussians Increasingly Angry that They Live in Poverty in a Country So Rich in Natural Resources
(Paul Goble – Window on Eurasia – Staunton, June 28, 2020) The pandemic and associated economic crisis have exacerbated widespread anger among Russians that they live in poverty despite the enormous natural wealth of their country and its sale earlier abroad for more than six trillion US dollars. Had even a small part of that money gone to the people, […]
» Read moreJRL NEWSWATCH: “Why the World Worries About Russia’s Natural Gas Pipeline” – Bloomberg/ Anna Shiryaevskaya, Dina Khrennikova
“A … natural gas pipeline being built under the Baltic Sea from Russia … to the German coast is shaking up geopolitics. Nord Stream 2 … worries … bypassed countries in Eastern Europe … fear[ing the loss of] transit fees … [while also] adding to friction with the U.S., which argues the link would give the Kremlin new leverage over […]
» Read moreRUSSIALINK: “In Siberian Fuel Spill, Climate Change Is Seen as Major Factor; Russia’s weather and environment service warned of the risks of melting permafrost as early as 2017.” – Moscow Times
RUSSIALINK: “Primakov Readings: U.S. can’t afford to contain both Russia and China – experts” – Interfax
… Trump has conditioned the extension of the Strategic Arms Reduction Treaty, also known as New START, on China’s involvement […]
» Read moreJRL NEWSWATCH: “Diesel Spill In Russian Arctic Could Be Putin’s Exxon Valdez” – Forbes/ Ariel Cohen
“… Putin ordered a state of emergency … in the Taymyr region near the Arctic Ocean, after 20,000 tons (150,000 barrels) of diesel fuel spilled from a Russian power plant into … soil and a nearby river. The accident occurred in the Siberian city … Norilsk … [T]he plant’s fuel reservoir collapsed into thawing permafrost, releasing its contents. Diesel is […]
» Read moreJRL NEWSWATCH: “Senators to Announce Sanctions Bill on Russia’s Nord Stream 2 Gas Pipeline” – Reuters
“U.S. senators [reportedly] will announce a bill this week expanding sanctions on … [the] Gazprom-led Nord Stream 2 project … [that] Washington says will make Europe too reliant on Russian gas. The Protecting Europe’s Energy Security Clarification Act[, spearheaded by Republican Senator … Ted Cruz[ and Democratic Senator] Jeanne Shaheen … follows legislation signed by … Trump last year …. […]
» Read moreJRL NEWSWATCH: “Tanker crosses Russian Arctic route without icebreaker assistance; Commercial shipping on the Northern Sea Route starts earlier than ever before.” – Barents Observer/ Atle Staalesen
By late May, a carrier had set out on the icy route without icebreaker escort. “… [S]ea ice along the Russian Arctic coast is quickly vanishing as temperatures … have been reaching record highs. With the retreating ice comes tanker traffic. … [T]he ‘Christophe de Margerie’ … on May [19th] kickstarted this year’s shipping season across the eastern part of […]
» Read moreKhodorkovsky Marks the Spot: Russia’s Turning Point From Economic Freedom to State Control
… Khodorkovsky was not the first oligarch harassed by Putin, but this was indeed a turning point. Khodorkovsky was the richest man in Russia at that point precisely because he cleaned up his oil company’s corporate governance. […]
» Read moreRussia Ready To Boost Production As Soon As OPEC+ Deal Ends
Russia’s government approved on Tuesday a plan to have new oil wells drilled this year and next for 2022 production, the office of First Deputy Prime Minister Andrey Belousov said […]
» Read morePutin To Bail Out Russian Oil Industry
(Oilprice.com – Irina Slav – May 25, 2020) Russia’s President Vladimir Putin has tasked the government with implementing a set of measures aimed at supporting the oil industry for the duration of the OPEC+ production cut agreement. According to a document published on the website of the Russian presidency, the measures include a prescription not to sanction companies that stray […]
» Read moreJRL NEWSWATCH: “Russia’s GDP shrinks by 20% in April, but government maintains a triple surplus” – bne Intellinews
“… Russia’s nominal GDP shrank … 28%, of which two-thirds was due to the nation-wide lockdown … another third … due to … oil prices, the Ministry of Finance said …. The real contraction of the economy in April could be 20%, according to the Ministry …. [T]he government has reported … surplus[es] [for] the trade balance, currency account and […]
» Read moreWhy Russia Finally Accepted Deeper Oil Output Cuts
(Oilprice.com – Irina Slav – May 5, 2020) When Russia refused two months ago to join the deeper OPEC oil cuts, it was because Moscow found them unnecessary. Two months later, Russia agreed to cut quite a bit more than it was asked to at the ill-fated March meeting. It is now doing its best to achieve its promised cuts. […]
» Read moreJRL NEWSWATCH: “As coronavirus hits record numbers in Russia, this is a dangerous moment for Putin” – CNN/ Nathan Hodge
“Russia hit a grim milestone … officially recording the highest number of coronavirus cases the country has seen in a 24-hour period, with 10,633 people testing positive. … [T]he economic pain is worsening … Finance Minister Anton Siluanov said on state television … ‘I don’t recall anything like this,’ … adding that plummeting global oil prices — a primary source […]
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