The second known tanker to carry Russian Arctic LNG in China
Ship-tracking data revealed that another tanker carrying liquefied gas from Russia’s sanctioned Arctic LNG 2 Project docked at a Chinese port days after Russian president Vladimir Putin met China’s leader Xi Jinping. The LSEG data showed that the Russian LNG tanker Voskhod was anchored in the port Tieshan, in China's southwest province of Guangxi. LSEG data revealed that the Russian flagged LNG tanker with a cargo of 150 000 cubic metres was loaded at Arctic LNG 2 in Gydan, northern Siberia, on July 19. The cargo is the third from the project sanctioned to dock in China, after the tanker Arctic Mulan docked at the Beihai LNG Terminal in late August.
The tanker carrying Russian LNG sanctioned berths to China
According to data from ship tracking, a tanker carrying liquefied gas from Russia’s Arctic LNG 2 sanctioned project docked at a Chinese port days after Russian president Vladimir Putin met China’s leader Xi Jinping. LSEG data showed that the Russian LNG tanker Voskhod was "anchored" in a LNG terminal at Tieshan Port in southern Chinese province Guangxi. This is the second cargo from the project sanctioned to dock in China, after the tanker Arctic Mulan docked at China's Beihai LNG Terminal in late August. Arctic Mulan was the first cargo to reach an end user since Arctic LNG began last year.
India to Continue Buying Russian Oil Despite US Tariffs
India will continue to buy Russian oil as it proves economical, its finance minister said on Friday, despite the Trump administration's decision to impose heavy import tariffs on Indian goods due, in part, to its energy purchases from Moscow.As Europe and the U.S. have shunned Russian oil over Moscow's 2022 invasion of Ukraine, India has taken advantage of discounts on Russian output to become the largest buyer of Russian seaborne crude.New Delhi has said its purchases of Russian oil have kept the markets in balance.U.S. President Donald Trump…
Putin: Gas pipeline from China to Russia will benefit both countries, calculate price using market formula
The Russian President Vladimir Putin stated on Friday that Power of Siberia 2 was a "mutually-beneficial project". He also said the price of gas would be determined by a formula similar to those used to supply gas to Europe. Russia proposed this route years ago. However, the plan is now more urgent as Beijing has been identified as the best alternative to Europe. Europe wants to reduce its dependence on Russian energy due to Moscow's invasion of Ukraine in 2022. Russia and China signed an agreement to build the pipeline on the occasion of Putin's China visit this week. However, Russian energy company Gazprom said that pricing had not yet been agreed.
Trump is "very disappointed" with Putin about Ukraine
Donald Trump, the U.S. president, said he was "very dissatisfied" with Russian President Vladimir Putin on Tuesday. He added that his administration planned to take certain actions to reduce deaths in Russia's conflict in Ukraine. The Republican leader said that he is not worried about the warm relations between Russia and China. Trump met with Putin and other key leaders of the European and NATO alliances at the White House in mid-August. Trump stated that he had expected Zelenskiy to meet with Putin bilaterally before they held a trilateral summit, which would include Trump. Zelenskiy said that Russia is doing all it can to prevent him from meeting with Putin.
Russian Seaborne Diesel Exports Fall in August
Russia's seaborne diesel and gasoil exports fell 6% on the month in August to about 3.1 million metric tons as damage from Ukrainian drone strikes hit production, data from market sources and LSEG showed.Last month Ukraine intensified drone attacks on Russian oil facilities, targeting major refineries and oil depots mainly in southern and central Russia daily ahead of a meeting between U.S.
Trump's options for easing Russia sanctions are limited in comparison to Europe
Donald Trump, the U.S. president, could lift some sanctions against Russia quickly as a way to reward Moscow for successful peace talks with Ukraine. However only Europe can make the larger steps necessary to ease Russia's cash crisis. Trump has threatened to impose additional sanctions and tariffs against Russia and its oil buyers if there are no signs of progress in the three-and-a-half-year long war in Ukraine. If the talks are successful, Trump could start to ease some of his punitive measures. Trump has a number of options, including releasing Russian assets, reopening U.S. loans to Russian corporations and banks, and allowing U.S.
Sanctioned Arctic Mulan LNG Tanker Berths in China
A tanker carrying liquefied natural gas from Russia's sanctioned Arctic LNG 2 plant has moored at an import terminal in southern China on Thursday, after loading at a Russian storage facility in June, Kpler and LSEG ship-tracking data showed.If the tanker discharges the LNG at the terminal, this would be the first cargo from the Arctic LNG 2 project to be received. The project is targeted by Western sanctions over Russia's war with Ukraine.The Arctic Mulan LNG tanker was idling off the coast of Egypt from February to April before travelling through the Suez Canal…
Russia claims to have extinguished a fire at a large oil refinery following the latest Ukrainian drone attacks
Russia announced on Thursday that an attack by a Ukrainian drone had put out a fire in an oil refinery located in the southern Krasnodar Region. The drone was part of a campaign launched by Kyiv against President Vladimir Putin's most important economic sector. On Russian oil refineries, and infrastructure for exporting to show that it can fight back while the United States attempts to broker a peaceful deal. According to calculations made this week, the Ukrainian attacks on ten plants disrupted 17% or 1.1 millions barrels of refinery capacity in Russia.
US and Russian officials discussed the latest Ukraine peace talks alongside energy deals
Five sources familiar with these talks claim that U.S. officials and Russian government officials discussed energy deals in parallel to negotiations to achieve peace in Ukraine this month. They said that these deals were presented as incentives for Washington to relax sanctions against Russia and to encourage the Kremlin into peace in Ukraine. Due to sanctions imposed after the Ukraine invasion in February 2022, Russia is no longer able to attract international investment into its energy sector or make major deals. Three sources claim that the officials discussed the possibility that Exxon Mobil could re-enter Russia's Sakhalin-1 project for oil and gas.
US and Russian officials discussed the latest Ukraine peace talks alongside energy deals
Five sources familiar with these talks claim that U.S. officials and Russian government officials discussed energy deals in parallel to negotiations to achieve peace in Ukraine this month. They said that these deals were presented as incentives for the Kremlin, to encourage it to accept peace in Ukraine and Washington to ease sanctions against Russia. Due to sanctions imposed after the Ukraine invasion in February 2022, Russia is no longer able to attract major international investments in its energy sector or sign large deals. Three sources claim that the officials discussed the possibility of Exxon Mobil entering Russia's Sakhalin-1 project for oil and gas.
US Vice President Vance: Russia has made significant concessions to Ukraine peace deal
JD Vance, the U.S. vice president, said that Russia had made "significant concessions," toward a negotiated resolution in its war against Ukraine. He was confident of progress despite the absence of clear signs that the conflict was nearing an ending. Vance, speaking on NBC’s “Meet the Press With Kristen Welker”, said that Russian President Vladimir Putin had made several concessions. He also stated that Ukraine would receive security guarantees to protect it against future Russian aggression. Vance made comments on Sunday that said, "I believe the Russians have made substantial concessions to President Trump.
US Vice President Vance: Russia has made significant concessions to Ukraine peace deal
JD Vance, the U.S. vice president, said that Russia had made "significant concessions", towards a negotiated resolution in its war against Ukraine. He was confident that progress was being made even though there were no clear advancements towards the end of the conflict. Vance, speaking on NBC’s “Meet the Press With Kristen Welker”, said that Russian President Vladimir Putin had made several concessions. He also stated that Ukraine would receive security guarantees to protect it against future Russian aggression. Vance made comments on Sunday that said, "I believe the Russians have made substantial concessions to President Trump.
Putin sees the 'light at the end of tunnel' for Russia-US relations, and cooperation in Arctic Alaska
Vladimir Putin, President of Russia and the United States, said that "light is at the end" of the tunnel in Russia-U.S. Relations and that both countries are discussing joint projects for the Arctic and Alaska. In response to questions from reporters during a tour of a nuclear research center, the Russian president said that he believed Donald Trump's leadership skills would be instrumental in helping to restore relations. "I think the light at the end has finally appeared with the arrival of Donald Trump." "We had a good, meaningful, and frank summit in Alaska," Putin said. "The next step depends on the leadership in the United States.
Oil Prices Steady as Ukraine Peace Process Stalls
Oil prices steadied on Friday amid uncertainty surrounding a potential peace deal between Russia and Ukraine, with prices remaining on track for their first weekly gain in three weeks.Brent crude futures were down 3 cents at $67.64 a barrel as of 1:00 p.m. EDT (1700 GMT). West Texas Intermediate (WTI) crude futures gained 5 cents to $63.57.Both contracts gained more than 1% in the previous session. Brent has risen 2.7% so far this week while WTI is up 1.2%."Everyone is waiting for President Trump's next step," said UBS commodity analyst Giovanni Staunovo. "Over the coming days, it seems nothing will happen," he added.U.S.
Russian Oil Supplies to Hungary and Slovakia Halted After Ukraine Attack
Russian oil supplies to Hungary and Slovakia could be suspended for at least five days after a Ukrainian strike on a facility in Russia, Hungarian and Slovakian officials said on Friday, in a widening of the fallout of Russia's war in Ukraine.Russia and Ukraine have stepped up attacks on each other's energy infrastructure, hitting Ukrainian domestic heating supplies, Russia's Druzhba pipeline and other facilities, over the past few weeks as U.S. President Donald Trump has pushed for a deal to end the conflict.The European Union reduced…
Oil Prices Fall Ahead of Possible Cease-Fire
Oil prices fell on Tuesday as traders thought a possible cease-fire in Russia's war with Ukraine might lead to easing or the end to sanctions on Russian crude oil, which would in turn boost global supply.Brent crude futures were down 50 cents, or 0.75%, at $66.10 a barrel at 10:38 a.m. CDT (1538 GMT). U.S. West Texas Intermediate crude futures for September delivery, set to expire on Wednesday, were down 72 cents, or 1.14%, at $62.70 per barrel.The more active October WTI contract was down 66 cents, or 1.05%, at $62.04 a barrel."Even with this peace dividend, we have a record short position," said Phil Flynn, senior analyst with Price Futures Group.
Exxon to return to Sakhalin-1 after Russia's decree
The Russian President Vladimir Putin signed on Friday a decree which could allow foreign investors to recover shares in the Sakhalin-1 project, including Exxon Mobil. The decree was signed on the same day that Donald Trump and Russian President Vladimir Putin met in Alaska. At the summit, opportunities for business collaboration and investment will be discussed alongside discussions to bring peace to Ukraine. The decree published on Friday was a follow up to the one Putin signed in 2022 which ordered the seizure the Sakhalin-1 Project. Exxon held a 30% operator stake in this lucrative project and is the sole non-Russian investor who has sold its stake.
Palm oil posts a weekly gain of more than 5%
Malaysian palm-oil futures closed higher Friday, and recorded a second week of gains after data revealed that exports were up for the period August 1-15. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange was up 75 Ringgit or 1.7% at $4,478 Ringgit ($1,063.66) per metric ton. Futures rose 5.24% in value this week. According to AmSpec Agri Malaysia and Intertek Testing Services cargo surveyors, exports of Malaysian products containing palm oil rose by 21.3% between August 1-15. Dalian's palm oil contract, which is the most active contract, gained 0.11% while its soyoil contract dropped 0.19%.
Russian energy exports disrupted since the start of Ukraine War
One of the bargaining chips that Donald Trump will use to convince Vladimir Putin to progress towards a ceasefire agreement in Ukraine when he meets him on Friday is to reduce U.S. restrictions on Russia's exports and energy industry. Trump has also warned of tougher sanctions in the event that there is not progress. See how the sanctions have affected Russian energy exports. Before the war, Russia was Europe's largest natural gas supplier. The majority of gas was transported via four pipeline routes, including Nord Stream, which runs under the Baltic Sea; the Yamal Line, which crosses Poland; transit via Ukraine and Turkstream. Europe imports Russian LNG as well.