Gazprom claims that TurkStream pumping stations and other facilities were attacked
Gazprom reported Wednesday aerial attacks against its southern Russian facilities, including the Russkaya Pumping Station that exports natural gases via the 'TurkStream' subsea gas pipeline to Europe. However, the company added that the attacks were all foiled. The facilities, 'linked to the TurkStream or Blue Stream pipelines', were attacked 12 times in the last two weeks.
OPEC data show that Russian oil production fell by 56,000 bpd during February.
According to a copy of OPEC's monthly data, reviewed on Wednesday, Russian oil production fell by around 56,000 barrels a day or 0.6% in February compared to?January, bringing it down from 9.184 million bpd. The U.S. has imposed pressure on India, Russia's second largest buyer, to reduce crude oil exports. Since February, Russian…
Sakhalin-1, a Russian oil refinery, will reduce output by 10% by 2025
The U.S. abandoned the 'Sakhalin-1' project in Russia, which was a major oil production facility. ExxonMobil's major ExxonMobil continued to decline last year. It fell by 10.3% due to planned maintenance. The production volume, which is expected to fall 9.8% by 2024, was not provided. Exxon had to take a $4.6bn impairment charge…
Russia accuses Ukrainian drones of attack on LNG Ship in Mediterranean
The Russian transport ministry accused Ukrainian drones on Wednesday of attacking the Arctic Metagaz, a Russian LNG carrier that caught fire in a Mediterranean sea?a day before. It would be the first attack on a Russian LNG ship by Ukraine if confirmed. The Security Service in Ukraine did not reply to a comment request. Ukraine…
Russia warns of a possible oil shortage due to the closure of Strait of Hormuz
The Russian Foreign Ministry said on Sunday that the closing of 'the Strait of Hormuz' to shipping would lead to "significant imbalances" in a global oil and gas market. Trading sources reported on Saturday that a number of tanker owners, major oil companies and trading houses had suspended crude oil, fuel, and liquefied gas shipments through the Strait of Hormuz following the U.S.
Putin condemns the killing of Iran’s Khamenei, but has offered little more than condolences.
The Russian president Vladimir Putin condemned Sunday the murder of Iranian Supreme leader Ayatollah Ali Khamenei, calling it a "cynical", but offered Moscow's ally little else in public than condolences. Khamenei's fall is the 'third Russian ally that has been toppled? in the last 15 months. This follows the fall of?Moscow backed?leaders?in Venezuela and Syria.
Russia exports 238 million tonnes of oil by 2025, says Deputy Prime Minister
Alexander Novak, Deputy Prime Minister of Russia, said that the country's oil exports will reach 238 million tons by 2025. Around 80% of these volumes are sent to China and India. The Russian exports of 480 million barrels a day or 240?million tonnes are roughly comparable. After the beginning of the war in Ukraine, Russia was forced to divert its oil exports away from Europe.
Kazakhstan: Tengiz supergiant oilfield nearing capacity
Kazakhstan?Energy minister Erlan Akkenzhenov announced on Friday that oil production had almost reached full capacity in the largest oilfield, Tengiz. This was after the oilfield suffered a power failure at the end January. The decline in production at Tengiz, a Chevron-led project, caused Kazkhastan to reduce its oil exports. It also boosted the global oil price.
Russia claims US restrictions on its involvement in Venezuela's oil industry are discriminatory
Foreign Minister Sergei Lavrov stated on Wednesday that the new U.S. restrictions imposed on Russia and other countries' role in Venezuela's petroleum business was blatantly discriminatory. The Kremlin also said it would clarify this matter with Washington. The U.S. Treasury Department issued a license on Tuesday to facilitate exploration and production in Venezuela.
Shell stops further Kazakhstan investment due to legal disputes, CEO states
Shell has halted new investments in Kazakhstan due to legal actions taken by the government against the oil giant and other international companies over cost disputes. CEO Wael sawan confirmed this. Kazakhstan has been in conflict with international oil companies for many years. It launched arbitration proceedings against the developers who developed its Kashagan oilfields and Karachaganak…
Shell stops further Kazakhstan investment due to legal disputes, CEO states
Shell has halted new investments due to legal actions launched by the government against it and other international companies for cost disputes. CEO Wael Sawan said that Shell would halt its new investments because of the legal proceedings. Kazakhstan has been in conflict with international oil companies for many years. It launched…
Russia builds its first LNG tanker of the ice class and plans to build two more by 2026
Interfax, citing the CEO of the company, reported that 'Russia's leading tanker group Sovcomflot' received its first Russian-built Ice-class tanker built for liquefied gas from Zvezda Shipyard. It plans to order two more in the next year. Due to Ukraine-related sanction, Russia has difficulty in securing gas carriers. This is especially…
Kazakhstan to see arbitration decision on Karachaganak by year's end
Yerlan Aktenzhenov, Kazakhstan's Energy Minister, said on Monday that a decision in the arbitration?case involving a consortium of international companies developing the Karachaganak -oil -and -gas condensate?field?would be expected by year's end. Akkenzhenov told reporters in Astana that there are arbitration proceedings relating to the Karachaganak Project.
OPEC data show that Russian oil production increased in November.
OPEC data on Thursday showed that Russian oil production increased in November by 10,000 barrels per day, up from October. This was after the OPEC+ group agreed to a moderate increase in output quotas. OPEC+ (which includes the Organization of the Petroleum Exporting Countries, Russia, and some smaller producers) has increased their?oil production targets by over 2.7 million bpd in this?year.
The central bank of Russia says that the discount on Russian Urals oil prices has increased to 23% by November.
The Russian central bank announced on Thursday that the discount between Brent and Urals, which is Brent's global benchmark oil, has increased by six percentage points to 23% this month. These discounts are less severe than the first wave of Western sanctions that began in 2022 but they still reflect increasing pressure on Russian oil revenue, which is a vital lifeline for Moscow’s budget.
Russia's Lukoil talks to potential foreign buyers about its assets
Lukoil, Russia's second largest oil producer, said it was in talks on Friday with potential buyers for its foreign assets after sanctions were imposed by the UK and US last month and a deal made with Gunvor Trading House collapsed. The specific deal would be announced once the final agreements had been reached and all regulatory approvals obtained.
Lukoil, a Russian oil company, says it will sell its international assets in response to Western sanctions
Lukoil - Russia's second largest oil producer - announced on Monday that it will sell its international assets in response to sanctions imposed by the United States last week over Ukraine. The sale of assets will be the biggest action taken by a Russian firm in response to Western sanctions over Russia’s war in Ukraine that began in February 2022.
Energy Minister: Orenburg plant in Russia restarts gas imports from Kazakhstan field
Kazakhstan's Energy Minister said that the Russian Orenburg gas plant was damaged by a drone strike on Sunday. It has since resumed receiving natural gases from Kazakhstan's Karachaganak gas field. As part of Kyiv’s campaign to destroy Russian energy infrastructure, the strike on Orenburg, located approximately 1,700 km (1.056 miles east of Ukraine)…
Karachaganak, a Kazakh gas producer, reduces output after a drone strikes a Russian gas plant
The operator of Kazakhstan's Karachaganak Oil and Gas Condensate Field said in an email on Tuesday that production levels have been reduced following "an accident" at Russia's Orenburg Plant. Two industry sources said that on Monday, a Ukrainian drone strike against the Orenburg Gas Processing Plant, one of the largest in the world…
Novak, the Deputy Prime Minister of Russia, says that Russia has gradually increased its oil production.
The Interfax news agency reported that Alexander Novak, Deputy Premier, said on Wednesday that Russia had been steadily increasing its oil production, and was close to meeting last month the output quota set by the OPEC+ oil producing group. The Russian energy sector has suffered a serious setback in the last two months as a result…