Lukoil Struggles to Maintain Overseas Operations Amidst Sanctions
Russian oil major Lukoil is struggling to keep operations running at its sprawling foreign businesses as Western sanctions disrupt oil loadings in Iraq, pump stations in Finland and trading in Switzerland, sources said.The United States and the United Kingdom last month imposed sanctions on Russia's second-largest oil company…
Executives say that Japanese utilities could find a replacement for Sakhalin-2 in the event of LNG supply interruption.
Executives said that Japanese utilities JERA, Tohoku Electric Power Co and Sakhalin-2 can find alternative sources of gas if the flow is interrupted. This comes amid U.S. demands to stop energy imports from Russia. This month, the U.S. urged Japan and other Russian energy consumers to stop imports as they push the Kremlin toward ending the Ukraine war.
Source: Berlin wants to protect Rosneft Germany's arm from US sanctions
A person with direct knowledge about the discussions in the German government said that Germany was seeking exemptions from U.S. Sanctions on the German operations of Rosneft, the Russian oil company. This came after the banks warned they could be prevented from dealing with local energy suppliers due to the sanctions.
Japan claims that replacing LNG from Sakhalin-2 in Russia would be expensive.
Japan's Industry Minister said that replacing the liquefied natural gas from Russia's Sakhalin-2 Project would be expensive and lead to higher electricity rates. Scott Bessent, U.S. Treasury secretary, has urged Tokyo, ahead of U.S. president Donald Trump's trip to Japan next Monday, to cease its Russian energy purchases.
Source: Indian refiners are reviewing Russian oil contracts following US sanctions
A source with first-hand knowledge of the situation said that Indian state refiners were reviewing their Russian oil trading documents to make sure no supplies would come directly from Rosneft or Lukoil following the U.S. sanctions against the companies. Donald Trump, the U.S. president in…
US sanctions Russian oil companies Rosneft, Lukoil
As his frustration with Russian President Vladimir Putin grows over the war, U.S. president Donald Trump imposed sanctions against Russia on Wednesday for the first times in his second term. He targeted oil companies Lukoil & Rosneft. The U.S. Treasury Department announced that it was ready to take additional action…
The new Japanese Prime Minister's energy policies puts nuclear power at the heart of their policy
Sanae Takaichi, the new Japanese prime minister, is expected to press for a rapid revival of nuclear energy to combat inflation, which has been a major source of discontent amongst the public. Reactor restarts are also key to reducing expensive fuel imports. Analysts said that Takaichi appointed Ryosei Acazawa as its trade and industry minister…
Minister of Industry: Japan will act in its national interest regarding Russian energy
When asked on Tuesday about Russian energy imports, Japan's trade minister Yoji Muto responded that the country would act in its own national interest while maintaining close coordination and cooperation with the international community. Scott Bessent, U.S. Treasury secretary, said that he…
US Sanctions on Iranian Oil Target Sinopec
The latest U.S. sanctions on Iranian petroleum exports deal a blow to Chinese refining giant Sinopec by targeting a terminal through which the state major handles one-fifth of its crude oil imports, industry executives and analysts said.The sanctions announced on Thursday further complicate U.S.-China relations…
US Postpones Sanctions on NIS Oil Company
The U.S. has postponed sanctions on Serbia's Russian-owned NIS oil company, which runs Serbia's only oil refinery, for one week until October 15, Belgrade-based Nova Ekonomija news portal reported on Wednesday, citing sources.The reported extension comes as the U.S. extended a license for…
Trinidad receives US support for cross-border energy projects
Trinidad and Tobago received U.S. assistance to develop the Dragon field in Venezuela. This could include a U.S. Treasury Department license, the U.S. Government and Trinidad announced on Tuesday. The announcement came after a meeting in Washington between U.S. Secretaries of State Marco Rubio and Kamla Persad Bissessar…
Vucic: US will impose sanctions against Serbia's Russian owned NIS
Aleksandar Vucic, president of Serbia, announced on Thursday that the U.S. would impose sanctions on the Russian-owned Serbian oil company NIS from October 1, which operates the country's only oil refinery. The Office of Foreign Assets Control of the U.S. Treasury placed initial sanctions on Russia's petroleum sector on 10 January…
US sanctions prevent Colombian Ecopetrol from purchasing Monomeros gas from Venezuela
Due to U.S. sanction, Colombian state-run Energy Company Ecopetrol is unable to acquire Venezuelan owned fertilizer producer Monomeros Colombo Venezolanos, or purchase natural gas from Venezuela, said Monica de Greiff on Caracol Radio Station. In July, Colombia's Mines and Energy Minister…
US Sanctions Shipping Network for Transporting Disguised Iranian oil
The U.S. Treasury Department on Tuesday sanctioned a network of shipping companies and vessels led by an Iraqi-Kittitian businessman for smuggling Iranian oil disguised as Iraqi oil.The administration of President Donald Trump is keeping pressure on Iran while nuclear talks have stalled.
Stocks mostly fall after Friday's gains; US Dollar edges higher
After a strong performance on Friday, major stock indexes largely declined on Monday. The dollar has stabilized, and a rate cut in September is likely but not guaranteed. Powell's comments at Jackson Hole caused the market to fall last week. U.S. Treasury Yields rose on Monday. Barclays BNP Paribas…
Venezuelan Oil Imports Resume Under New Chevron License
Two tankers chartered by Chevron carrying Venezuelan crude reached U.S. waters on Thursday, marking the first U.S. imports of the South American country's oil following a new license granted by Washington, vessel tracking data showed.The U.S. Treasury Department last month issued a restricted license to Chevron allowing the U.S.
Data center owners ask US Treasury to maintain renewable energy subsidy regulations
The Data Center Coalition, which includes Google, Amazon, and Microsoft as data center owners, has called on U.S. Treasury Sec. Scott Bessent, to maintain existing rules regarding wind and solar energy subsides, stating that they have allowed the industry to grow rapidly and remain ahead of China's competition.
Sources say that the World Bank's IFC approved Oman Polysilicon Project loan despite US objections
Two sources familiar with board voting said that the World Bank's International Finance Corporation approved on Friday a loan and an investment of up to $250,000,000 in a polysilicon production project in Oman, for solar applications. This was despite the objections from the IFC executive director in the United States.
Chevron-Chartered Oil Tankers Return to Venezuela After New US License
At least three vessels that oil major Chevron had used to transport Venezuelan crude to the U.S. were navigating toward the South American country's waters on Thursday, with exports expected to resume later this month following a new U.S. license, according to shipping data and sources.The U.S.
US investors target strategic Bulgarian gas storage
Five people with knowledge of the matter report that two American financiers with the support of a former campaign manager for U.S. president Donald Trump approached Bulgarian authorities about a potential investment in a government-owned underground gas storage facility stocked primarily with Russian natural gases. The group, led by Stephen P.