Austrian integrated oil and gas company OMV announced on Nov. 13 that it had secured an arbitral award from the International Chamber of Commerce exceeding $243 million. This ruling relates to irregularities in German gas supplies provided by Gazprom.
No deal is currently on the table between Europe and Azerbaijan to keep gas flowing through Ukraine once a transit deal with Russia expires at the end of the year, despite reports a contract was nearing, CEO of Ukrainian state-owned oil and gas giant Naftogaz said.
Budapest and Russia's state-owned gas company Gazprom are in talks on additional purchases of gas next year, Hungarian Foreign Minister Peter Szijjarto said in an interview with Kremlin-run RIA Novosti published on Oct. 15.
Dusan Bajatovic, CEO of the Serbian state-owned company Srbijagas, came to an agreement with Alexey Miller, CEO of Russian state-owned energy giant Gazprom, and expects Russian gas supplies to reach 400 million cubic meters this winter.
According to the new estimates, MOL, which owns refineries in Hungary and Slovakia, will be able to process non-Urals oil by the end of 2026, as opposed to their earlier estimates of early 2026.
In the meantime, Gazprom's net cash flow from operating activities increased by 5% to $242 billion in 2023.
While Russia's deadly war rages on Ukraine's soil, one unexpected aspect of the invasion is that natural gas continues to flow through Ukraine from Russia, with both sides profiting from the deal and – to an extent – financing each other's war machines. That is expected to change when their deal expires
Gazprom Neft Moscow refinery suspended operations at the plant's Euro+ refining unit following a fire on Sept. 1 caused by a purported large-scale Ukrainian drone attack on the region, Reuters reported, citing its sources.
Vitaly Khotsenko, acting governor of Omsk Oblast, confirmed that two people had been injured and claimed that the situation was under control.
Kyiv and Moscow plan to continue transmitting gas to Europe despite Ukraine's incursion in Kursk Oblast near a key cross-border transit point for the fuel, Bloomberg reported on Aug. 12, citing its undisclosed sources.
Gazprom's revenue fell by 30% last year with a net loss of $6.9 billion, the largest in 25 years.
In 2023, the Russian gas giant suspended Bulgargaz's long-term contract, which covered 90% of the quantities of natural gas delivered by Bulgargaz to customers.
An arbitration court awarded the German energy company Uniper the right to terminate a long-term contract with Russia's Gazprom and more than 13 billion euros ($14 billion) in damages for failed gas deliveries, Uniper said on June 12.
"The main consequences of sanctions for Gazprom and the energy industry are the contraction of export volumes, which will be restored to their 2020 level no earlier than in 2035," the report said.
Gazprom’s revenue fell by 30% last year with a net loss of $6.9 billion, the largest in 25 years. Russia’s full-scale invasion of Ukraine led to worsening relations with Europe, limiting the operations of the company.
The state-owned Russian energy giant Gazprom reported a net loss of 629 billion rubles (nearly $6.9 billion) in 2023, the company's largest profit downturn in decades amidst falling gas prices and a limited European market.
Russia is expected to export natural gas to China with prices as much as 28% below those for Russia's European clients at least until 2027, Bloomberg reported on April 23, citing the Russian Economy Ministry's outlook.
A Ukrainian drone strike on Belgorod on April 12 damaged an administrative building of a "resource supply company," injuring two people, Belgorod Oblast Governor Vyacheslav Gladkov claimed.
Yuriy Vitrenko's desk, buried in paperwork, leaves little room for doubt – the winter of 2022 will be hard for Ukraine. Naftogaz, Ukraine's energy monopoly, will face an uphill battle to provide enough gas for this year's heating season, CEO Vitrenko told the Kyiv Independent. He said that this will be
The Russian state-owned gas export monopoly did not purchase any additional transit capacity through Ukraine for December on top of its contractually agreed minimum volume. The decision caused European gas futures to spike by over 5%. Gazprom is contractually obliged to pay Ukraine for the transit of 109 million cubic
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