Today, the new automatic and dynamic mechanism for price adaptation of the Oil Price Cap for Russian crude will be applied for the first time. The new price cap for Russian crude oil is $44,10 per barrel, effective 1 February. Starting 15 January, old contracts concluded under the previous price cap can be executed for […]
China suspended electricity imports from Russia on January 1, although the contract between the two countries remains in force, the Kommersant newspaper reported on Friday, as quoted by EFE. According to the newspaper, although the contract between Russian energy company Inter RAO and the State Grid Corporation of China (SGCC) is valid until 2037, deliveries […]
The US Navy on Wednesday took control of a Russian-flagged oil tanker sailing in the North Atlantic, which it had been tracking for several days, as part of a US blockade of oil tankers linked to Venezuela, AFP reported. The seizure of the tanker comes hours after media reports said Russia had sent at least […]
Russia’s pipeline gas exports to China are set to rise 25 percent this year, sources told Reuters on Monday, speaking on condition of anonymity, as Moscow pushes to boost sales to Asia and strengthen ties with the world’s biggest energy consumer. But the gains are not making up for the decline in revenue from losing […]
The European Union agreed on Wednesday to phase out Russian gas imports by the end of 2027, part of efforts to overcome the bloc’s decades-long dependence on Russian energy. EU government representatives and the European Parliament reached an agreement on Wednesday morning on proposals put forward by the European Commission in June to cut off […]
A senior U.S. diplomat has rejected Hungary’s argument that its landlocked status leaves it no choice but to rely on Russian oil, as Washington steps up pressure on Budapest to find alternative suppliers, Bloomberg reports. “Our friends in Hungary should be doing a lot of planning, and obviously as a good ally, we will help […]
The Bulgarian parliament approved on Friday a series of legislative amendments according to which the sale of the assets in Bulgaria of Lukoil, a Russian company sanctioned this week by the US, is conditional on obtaining the approval of the Council of Ministers as well as the State Agency for National Security (DANS), EFE reports. […]
A top 10 company in Russia but less well-known in our country has made its first delivery of oil, of course Russian, to the newest refinery in the Black Sea area. It is also the first refinery in Georgia, a market where the Rompetrol group has been present for 20 years and where it provides […]
European Union energy ministers on Monday backed a proposal to ban Russian gas imports, boosting the bloc’s efforts to further reduce Russia’s energy export revenues, DPA reported. “An energy-independent Europe is a stronger and more secure Europe. Although we have worked hard and made efforts in recent years to wean ourselves off Russian oil and […]
Europe’s economy will continue to rely on imported natural gas for decades to come as the transition to solar and wind power takes longer than expected, Austrian energy group OMV CEO Alfred Stern said Monday, Bloomberg reports. OMV expects natural gas to play a crucial role in electricity and industrial heating production at least until […]
The European Commission will propose a ban on imports of liquefied natural gas (LNG) from Russia by January 1, 2027, a year earlier than planned, as part of its 19th package of sanctions against Moscow, EU sources told Reuters on Friday. The EU executive will present the proposal on Friday, Agerpres writes. New sanctions would […]
As the deadline for a definitive phasing out of Russian gas approaches – based on the Commission’s plan to stop flows by 1 January 2028 – EU countries are considering one of the most complex and technically sensitive proposals: banning mixed gas flows via Turkey when they include Russian quantities, according to Greek trade media. […]
Rosatom Corp., a Russian state-controlled company, is in talks to sell a 49 percent stake it owns in a $25 billion nuclear power plant it is building in Turkey, Bloomberg reported. Turkey’s first nuclear power plant, a 4,800-megawatt facility, is being built by Russia’s Rosatom at Akkuyu on the Mediterranean coast. Talks are underway with […]
Russia is facing another setback in expanding its liquefied natural gas (LNG) exports after U.S. sanctions halted Moscow’s efforts last year, Bloomberg reported. A vessel carrying LNG has left the Arctic LNG 2 export facility for the first time since October, according to ship-tracking data and satellite imagery reviewed by Bloomberg. The facility was supposed […]
