Russia & CIS ///

UAE sends rare cargoes of oil toward Europe amid Russia snub

The United Arab Emirates has started shipping rare cargoes of oil toward Europe, where crude buyers are snubbing imports from Russia in the wake of the nation’s invasion of Ukraine.

Oil gains as investors weigh Russian ban and China outlook

Oil climbed, bookending another tumultuous week of trading, as investors weighed the prospect of a European Union ban on Russian crude and uncertainty over China’s virus resurgence.

DTEK’s CEO updates status of Ukraine’s energy/electricity sector

In a weekly online briefing on Thursday, May 12, DTEK CEO Maxim Timchenko discussed Ukraine’s energy security. He provided an update on energy sector operations and restoration of electricity supply amid the Russian invasion.

Russia oil revenue up 50% this year despite boycott, IEA says

Russia’s oil revenues are up 50% this year even as trade restrictions following the invasion of Ukraine spurred many refiners to shun its supplies, the International Energy Agency said.

Shell will sell Russian fuel stations as part of exit plan

Shell Plc is in talks to sell its fuel stations in Russia as it withdraws from the country in response to the invasion of Ukraine.

Oil jumps the most in three weeks as EU plans strictest ban yet

Oil rallied as supply concerns took center stage with the EU threatening to ban Russian supplies this year and U.S. regional fuel inventories dropping to record lows.

EU warns Russian gas buyers that ruble payments breach sanctions

European Commission President Ursula von der Leyen warned companies not to bend to Russia’s demands to pay for gas in rubles, as the continent scrambles to respond to Moscow’s move to start switching off supplies.

Russia is using gas deliveries as a ‘weapon,’ Bulgaria says

European gas prices surged more than 20% as Russia’s Gazprom PJSC confirmed that it halted gas flows to Bulgaria and Poland, saying it will keep supplies turned off until the two countries agree to Moscow’s demand for rubles -- a dramatic escalation with Europe as its invasion of Ukraine presses forward.

Europe loads up on more North Sea crude to replace Russian oil

European refiners continue to lap up North Sea crude to seek replacements for Russian oil in response to the war in Ukraine.

Big Oil’s huge Russia writedowns eased by cash from $100 oil

Big Oil is walking away from tens of billions of dollars of Russian assets, but $100 crude is easing the sting.

Russian tanker firm Sovcomflot set to close its Cyprus business

Russian tanker operator Sovcomflot PJSC is set to close its Cyprus-based payment center as a result of sanctions imposed on Russia for its invasion of Ukraine, according to people familiar with the matter.

Oil posts a weekly gain as EU considers a ban on Russian oil

Oil rallied Thursday afternoon after a report that the European Union is moving toward adopting a phased-in ban on Russian oil.

World Oil exclusive: Hard data, analysis on Russian and Ukrainian military forces

In the last couple of days, World Oil has received data from a credible European military source about the situation in Ukraine. This information regards the strength and status of both Russian and Ukrainian forces.

Schlumberger suspends new investment and technology deployment in Russian operations

As the situation has developed, Schlumberger has been evaluating its path forward, and has decided to immediately suspend new investment and technology deployment to Russia operations.

IEA sees Russian oil output slumping by a quarter next month

Russia’s oil output may slump by about a quarter next month, inflicting the biggest supply shock in decades as buyers shun the nation’s exports following its invasion of Ukraine.

Europe is on a wartime mission to ditch Russian oil and gas

Russia’s invasion of Ukraine has brought a wartime energy transition to Europe. The continent’s decades-long timelines for overhauling energy supply systems that support more than 440 million people are now being revved up under extraordinary duress.

Biden says U.S. will ban Russian oil, fuels to pressure Putin on war

Biden said the U.S. will ban imports of Russian fossil fuels including oil, a major escalation of Western efforts to hobble Russia’s economy that will further strain global crude markets.

World Oil analysis: Significant majority of U.S. imports of Russian “oil” are products

We think it’s important to actually quantify the extent to which the U.S. is importing Russian crude and products. Politicians have referred to “Russian oil” as if all imports from that country are strictly crude oil. This is not true.

Canada sanctions Rosneft and Gazprom, nixes Russia trade status

Canada is ratcheting up sanctions on Russia in response to the invasion of Ukraine in coordination with Western allies, unveiling new restrictions on energy companies and steep tariffs on exports.

Wintershall Dea to write off $1 billion Nord Stream 2 financing

Wintershall Dea AG will write off its financing of the Nord Stream 2 natural gas pipeline project totaling as pressure grows on energy companies to exit business interests connected to Russia.

U.S., allies target ‘degrading’ Russia as a leading oil producer

The Biden administration it is seeking to degrade Russia’s status as a top world producer of oil and natural gas by restricting exports of the technology that enables those flows.