Russia

As oil refiners worldwide seek to distance themselves from Russian crude imports, a consultancy recently predicted a “rebalance” in the global crude oil trade. The shift would occur via “‘crude swapping’ between ‘self-sanctioning’ advanced economies and developing markets,” said Wood Mackenzie’s Alex Sun, managing consultant. After the United States imposed sanctions on Russian crude oil…

The European Union (EU) said Tuesday it would ban Russian coal imports worth 4 billion euros ($4.4 billion) annually as part of a fifth round of sanctions against the country. “This will cut another important revenue source for Russia,” said European Commission (EC) President Ursula von der Leyen.

A roundup of news and commentary from NGI’s LNG Insight European natural gas prices fluctuated on Thursday as the market awaited more clarity on whether Russia would require payments for its natural gas deliveries to Europe in rubles. The outlook was clouded after the Kremlin told state news media that “unfriendly countries” could continue to…

Even as sanctions mount against energy-rich Russia amid its war in Ukraine — intensifying concerns about global crude supplies — U.S. oil output is holding steady, the Energy Information Administration (EIA) said Wednesday. Production for the week ended March 4 held at 11.6 million b/d, EIA’s latest Weekly Petroleum Status Report showed. It hovered at…

Russian natural gas pipeline flows to Europe remain at some of their strongest levels in months despite fighting in Ukraine, but the market is on edge about any potential disruption in deliveries given how crucial imports are for the continent, which has helped to send natural gas prices soaring. “A complete shutdown of Nord Stream…

Natural gas futures on Wednesday posted a double-digit advance for a second consecutive session as Russia forged ahead with its invasion of Ukraine, intensifying concerns of an energy crisis and fueling a rally in commodity prices. At A Glance: War worries propel markets Spot prices follow futures higher Analysts expect triple-digit storage pull The April…

Private sector oil production in Mexico hit a record high of 86,056 b/d in January, up from the previous high of 74,809 b/d set in December and 53,064 b/d in January 2021, according to upstream regulator Comisión Nacional de Hidrocarburos (CNH). The 62% year/year increase was driven largely by Fieldwood Energy LLC, which until last…

Germany has revived its liquefied natural gas (LNG) import plans to reduce dependency on Russian natural gas, following Russia’s invasion of Ukraine.  Germany’s energy strategy to phase out coal-fired power plants by 2030, and to shutter its nuclear power plants by the end of this year, has left the country with few alternatives to meet…

Yakutia LNG, a 17.7 million metric ton/year (mmty) liquefaction project proposed for the Russian republic of Yakutia, is planned to start up in 2027 to deliver liquefied natural gas (LNG) from Russia’s Far Eastern coast to China.  If the Russian government gives permission for the Yakutia project to export LNG, it could help Russia towards…