Austrian OMV company terminates contract with Gazprom Export
Austrian oil and gas company OMV has terminated its long-term gas supply contract with Russia's Gazprom Export, the OMV website reported on Dec. 11.
Oil
US considering implementing harsher sanctions on Russian oil ahead of Trump's inauguration, Bloomberg reports
Although no concrete decisions have been made on the potential sanctions, sources familiar with the discussions told Bloomberg that a number of avenues are being explored, including sanctions on Russia's so-called 'shadow fleet.'
Poland shuts down Druzhba pipeline section after oil leak
Supply to customers was not affected by a leak on one of the branching pipes of the Russian Druzhba pipeline in Poland, the Polish operator Pern said in a statement on Dec. 1.
UK targets 30 tankers in its largest sanctions package against Russia's 'shadow fleet'
The United Kingdom sanctioned 30 oil tankers of Russia's "shadow fleet" that carried billions of dollars worth of oil and oil products last year, the government said on Nov. 25.
Hungary criticizes US sanctions on Gazprombank as 'threat to energy security', Bloomberg reports
Hungary criticized U.S. sanctions on Gazprombank, stating that they pose a threat to the energy security of Central European countries, Foreign Minister Peter Szijjarto said in a statement on Nov. 22.
Ukraine war latest: Russia likely used ballistic missile from 'Kedr' complex to strike Dnipro, intelligence says
Key developments on Nov. 22: * Russia likely used ballistic missile from 'Kedr' complex to strike Dnipro, intelligence says * Russia plans to launch mass production of Oreshnik missile, Putin says * North Korea received anti-aircraft missiles, oil from Russia in exchange for troops, reports say * Russia has deployed nearly 60,000 troops
Ukrnafta acquires 51% share in Shell's gas station network in Ukraine
Ukrnafta, a state-owned oil and gas extraction company that is a subsidiary of Naftogaz, has bought a 51% stake in Shell's gas station network in Ukraine, the press service of Naftogaz reported on Nov. 19.
At least 3 Russian oil refineries on verge of closure, Reuters reports
At least three Russian oil refineries have been forced to halt or scale back production due to significant losses and now face the risk of closure, Reuters reported on Nov. 15, citing five undisclosed sources.
Chinese oil refinery buys West African crude instead of Russian, Iranian, Bloomberg reports
Private Chinese oil refinery Landbridge Petrochemical Co. has made a rare purchase of a shipment of West African oil instead of typical import from sanctioned Iran and Russia, Bloomberg reported on Nov. 14.
London unable to retrieve UK-licensed arms used to protect Russian oil tankers, Bloomberg reports
The United Kingdom has been unable to retrieve its weapons from floating armories offering weapons and accommodation for guards defending Russian oil tankers, Bloomberg reported on Nov. 5.
EU's anti-fraud arm investigating possible rebranding of Russian oil to avoid sanctions, Politico reports
The European Union’s anti-fraud agency opened an investigation into the possible exporting of rebranded Russian oil via Turkey into the EU, Politico reported on Nov. 5, citing two undisclosed sources.
Russia claims downing 51 Ukrainian drones, fire reported at oil facility
A drone struck in the Michurinsky district of the region at around 0:40 a.m. local time, causing a fire that was quickly extinguished, Governor Maxim Egorov said on his Telegram channel.
Russia’s war economy could be boosted by Middle East conflict, experts say
Saudi Arabia’s planned oil production hike may not break Russia’s petro-export-fueled economy, but escalations between Israel and Iran could be a gold rush for Moscow. Since late 2022, the OPEC oil cartel, of which Russia is a member, has withheld oil production and exports to prevent a surplus
70% of Russian oil shipped by shadow fleet, posing environment risk, report says
Russia's "shadow fleet" of older and poorly insured tankers transports 70% of the country's seaborne exports, according to an analysis published by the Kyiv School of Economics (KSE) Insititute on Oct. 14.
Oil depot burning in occupied Luhansk Oblast after Ukrainian strike, General Staff says
Ukrainian troops in cooperation with the intelligence service (HUR) struck a depot containing oil and petroleum products used by the Russian military near the town of Rovenky, Luhansk Oblast.
Ukraine war latest: Oil depots on fire in 2 Russian regions
Key developments on Oct. 4: * Oil depots on fire in Russia's Voronezh Oblast, Perm Krai * Russian forces less than 7 km away from Pokrovsk, authorities say * At least 177 Ukrainian POWs have died in Russian captivity, Kyiv says * EU readies to sanction Iran over missile shipments to Russia, Bloomberg reports
Saudi Arabia's planned oil production hike threatens Russia's war economy, Politico reports
Russia is greatly reliant on oil and gas exports, which have represented almost one-third of the country's total federal revenue in 2023 and 42% in 2022. Fossil fuel profits thus play a key role in funding Russia's expensive war machine in Ukraine.
UK sanctions 10 Russian 'shadow' vessels involved in oil trade
The U.K. has sanctioned 10 Russian vessels that are part of the "shadow fleet" of ships that transport Russian oil around the world, the U.K. Foreign Office announced on Sept. 11.
Russian tankers reject Danish pilots, increasing oil spill risks, Bloomberg reports
The older vessels, which are also poorly maintained, have undeclared owners and questionable insurance, make up the majority of Russian oil transportation due to Western sanctions, according to Bloomberg.
Russian oil flow to Hungary, Slovakia stable in July despite Lukoil ban, Bloomberg reports
Russian crude exports to Hungary and Slovakia remained within norms in July as the sanctioned Lukoil oil was offset by supplies from another Russian company, Tatneft, Bloomberg reported on Aug. 27, citing an undisclosed source.
Ukrainian drones hit Russian oil depot in Rostov Oblast, source confirms
Ukrainian drones operated by military intelligence (HUR) and the Special Operation Forces hit an oil depot in Russia's Rostov Oblast on Aug. 28, setting it on fire, a HUR source confirmed for the Kyiv Independent.
Rostov Oblast oil depot fire ongoing for 5th day, Russian officials report
The Rostov Oblast government told the media that as of Aug. 22 morning, the number of injured firefighters had risen to 49
Hungary close to finalizing talks on 'balanced' oil supply amid Ukraine's sanctions against Lukoil
Budapest is close to finalizing talks on "balanced" oil supply after Ukraine blocked the transit of Russian oil through the Lukoil pipeline, Hungarian Foreign Minister Peter Szijjarto said on Aug. 21 after a government meeting.
Putin arrives in Azerbaijan for first state visit since full-scale invasion began
Russian President Vladimir Putin arrived in Baku on Aug. 18 for a two-day visit for talks with his Azerbaijani counterpart Ilham Aliyev. The trip marks Putin's first visit to the capital since Russia launched its full-scale invasion of Ukraine in February 2022.
US oil group expands in Russia as Western rivals leave, FT reports
SLB, the world's largest oilfield services company, signed new government contracts and posted over 1,000 job postings in Russia within the last year.
Orban’s arguments crumble in Lukoil spat with Ukraine
The Hungarian government’s arguments against Ukraine’s sanctions on Russian oil company Lukoil are falling apart. Hungary accused Ukraine of “blackmail” and endangering its energy security after Ukrainian sanctions blocked Lukoil, Russia’s second-largest oil company, from transiting crude oil through the Druzhba pipeline in June. Hungary and Slovakia
Western companies continue insuring Russian oil tankers in spite of potential price cap violations, Reuters says
According to data seen by Reuters, five Western insurance companies have continued providing services to Russian oil tankers, despite concerns that most Russian oil is still being traded above the $60 per barrel price cap.
Hungarian CEO confident in country’s oil supply despite Ukraine’s Lukoil transit block
Hungary will not face oil shortages due to Ukraine's decision to block Lukoil PJSC's crude transit, according to Zsolt Hernadi, CEO of Hungarian oil and gas conglomerate MOL Group.
Ukraine open to consultations with EU on Russian oil transit, Foreign Ministry says
Kyiv is open to participating in consultations with the European Union on the transit of Russian Lukoil's oil if Brussels decides to use "an appropriate mechanism," Heorhii Tykhyi, Foreign Ministry's spokesman, said on July 30.
Drones strike oil depot in Russia's Kursk Oblast, governor says
Earlier in the morning of July 30, Kursk Oblast Governor Alexei Smirnov claimed that air defenses in the oblast had intercepted four Ukrainian missiles.
Slovakia's Fico threatens to cut off diesel supplies to Ukraine over Russian oil dispute
In June, Kyiv imposed sanctions blocking the transit of pipeline oil from Lukoil to Central Europe to cut off the Kremlin's source of income used to support its military.
Hungary to block EU's Ukraine defense funds until Kyiv lifts ban on Lukoil transit, Budapest says
The Slovak leadership also threatened unspecified repercussions against Ukraine, reminding Slovakia's key role as an electricity supplier amid Ukraine's energy deficit.
(Updated: )
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