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☆ Russia's Gazprom to supply extra gas to Hungary and China this year
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +2 min

Companies Gazprom PAO FollowOct 22 (Reuters) - Russia's Gazprom (GAZP.MM) will supply extra gas to Hungary through the coming winter and will also provide China with an additional 600 million cubic metres this year on top of contractual obligations, TASS news agency quoted its boss Alexei Miller as saying. Orban told Putin when they met in Beijing on Tuesday that Hungary never wanted to oppose Russia and was trying to salvage bilateral contacts. "And we have an agreement that we will supply additional volumes on an ongoing basis in the coming winter", he said. "We regularly supply additional volumes to the Chinese market. This year, I think (the extra amount) will be 600 million cubic meters of gas," he was quoted as saying.

Persons: Alexei Miller, Vladimir Putin, Miller, Viktor Orban, Orban, Putin, Gazprom's Miller, Mark Trevelyan, David Holmes Organizations: Gazprom PAO, Gazprom, Investigations, European Union, Putin, NATO, Ukraine, EU, Thomson Locations: Hungary, China, Russian, Europe, Ukraine, Baltic, Beijing, Russia, U.S

☆ Russia starts gas supplies to Uzbekistan via Kazakhstan
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +1 min

[1/3] Russian President Vladimir Putin listens to Kazakh President Kassym-Jomart Tokayev during a meeting at the Novo-Ogaryovo state residence outside Moscow, Russia October 7, 2023. Sputnik/Pavel Bednyakov/Kremlin via REUTERS Acquire Licensing RightsOct 7 (Reuters) - Russia on Saturday started supplying natural gas to Uzbekistan via Kazakhstan, marking the occasion with ceremonies in Moscow and elsewhere attended by the presidents of the three countries and shown on state TV. Under a two-year deal signed with Russia's Gazprom (GAZP.MM), Uzbekistan will import 9 million cubic metres of Russian natural gas per day. It is the first time Uzbekistan, which is a producer and exporter itself, is importing gas from Russia. "Russia confirms its status as a reliable gas supplier and is open to cooperation in this area," Russian president Vladimir Putin said during the ceremony in Moscow.

Persons: Vladimir Putin, Kassym, Pavel Bednyakov, Clelia Organizations: Sputnik, REUTERS Acquire, Saturday, Russia's Gazprom, Thomson Locations: Moscow, Russia, Kremlin, Uzbekistan, Kazakhstan, Ukraine, Nord, Europe

☆ Q+A What is known about the Nord Stream gas pipeline explosions
▼ + stars: | 2023-09-26 | by ( Nerijus Adomaitis | ) www.reuters.com time to read: +8 min

This is what we know so far:WHAT ARE NORD STREAM PIPELINES? The multibillion-dollar infrastructure project was built by Russia's Gazprom (GAZP.MM) in two stages - Nord Stream 1 and Nord Stream 2. Gazprom owns 51% of Nord Stream 1, while Germany's E.ON (EONGn.DE) and Wintershall Dea (WINT.UL) have 15.5% each, while French Engie (ENGIE.PA) and Dutch Gasunie (GSUNI.UL) hold 9% each in Nord Stream 1. Nord Stream 2, fully owned by Gazprom and operated by Nord Stream 2 AG, was completed in September 2021 at a cost of $11 billion, but was never put into operation because Germany had cancelled Nord Stream 2's certification days before Russia's invasion of Ukraine on Feb. 24, 2022. The Nord Stream pipelines have been a flashpoint in an energy dispute between Europe and Moscow since Russia's invasion of Ukraine.

Persons: Pipes, Fabian Bimmer, Wintershall, OMV, Peter Frank, Die, Seymour Hersh, Mats Ljungqvist, Der Spiegel, Der Siegel, BfV, Nerijus Adomaitis, Christoph Steitz, Nina Chestney, Ros Russell Organizations: REUTERS, Rights, Gazprom, Nord, E.ON, Shell, . Security, WHO, Washington Post, Die Welt, . Security Council, Reuters, Street, ZDF, Kyiv, CIA, NDR, WDR, German Federal Intelligence Service, Thomson Locations: Baltic, Mukran, Germany, Rights OSLO, Russia, Swedish, Bornholm, Sweden, Denmark, Nord, Ukraine, Uniper, Washington, NATO, Moscow, Kaliningrad, Russian, Britain ., U.S, Norway, China, Brazil, Rostock, Wiek, Rugen, Danish, Christianso, Kolobrzeg, Poland, Europe, United States, Oslo, Frankfurt

☆ Russia's Gazprom says it swings to Q2 net loss as exports to Europe slump
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

Companies Gazprom PAO FollowMOSCOW, Aug 29 (Reuters) - Russia's Gazprom (GAZP.MM) said on Tuesday it generated a net loss of 18.6 billion roubles ($197 million) in the second quarter of 2023 after a net profit of 1.03 trillion roubles a year earlier following the collapse of gas exports to Europe. Gazprom has suspended the disclosure of its exports data, but according to Reuters calculations, supplies to Europe, once its key source of earnings, were about 15 billion cubic metres (bcm) in January-July compared with 62 bcm for the whole 2022. The Kremlin-controlled company also said its net income for the first six months of the year fell to 296 billion roubles from 2.5 trillion roubles in January-June 2022, while its base for dividend payment reached 618 billion roubles for the period. The company usually pays dividend of 50% of its adjusted net income. ($1 = 94.4250 roubles)Reporting by Vladimir Soldatkin and Oksana Kobzeva Editing by Chris Reese and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Vladimir Soldatkin, Oksana Kobzeva, Chris Reese, Tomasz Janowski Organizations: Gazprom PAO, Gazprom, U.S, Thomson Locations: MOSCOW, Europe, China

☆ Russia's Gazprom Neft Q2 net profit falls 43% y/y
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

Profits for global oil majors have dropped by about half from a bumper 2022, when Russia's actions in Ukraine sent oil and gas prices soaring. Gazprom Neft did not publish its financial results last year. The company, the oil arm of gas giant Gazprom (GAZP.MM), also said its April-June total revenues decreased to 821.6 billion roubles from 835.8 billion in the same period in 2022. Russia's energy sector has been under severe pressure from Western sanctions, imposed over Moscow's actions in Ukraine. They include price caps and an embargo on purchases of Russia's sea-borne oil.

Persons: Vladimir Soldatkin, Mark Potter, Gareth Jones Organizations: Gazprom Neft, Kremlin, Gazprom, Gazprom Neft's, Thomson Locations: Russia, Ukraine MOSCOW, Ukraine, Moscow, China, India

☆ Turkmenistan rebukes Russia over 'gas union' comments
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: +2 min

A 3D printed natural gas pipeline is placed in front of displayed Turkmenistan flag in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/File PhotoASHGABAT, Aug 12 (Reuters) - Turkmenistan warned Russia on Saturday against trying to extend its influence over the Central Asia-China natural gas supply chain after Moscow said more countries could join its "gas union" with Kazakhstan and Uzbekistan. Turkmenistan, Uzbekistan and Kazakhstan all pump gas to China via a pipeline crossing the three countries; the lion's share of gas comes from Turkmenistan as the two other countries have faced strong growth in domestic gas demand. Russia, trying to open up new Asian markets for its gas after Western sanctions, said last year it was forging a gas union with Kazakhstan and Uzbekistan that would streamline shipping and exporting gas to them and to third parties. Russia's foreign ministry said this week the gas union could be expanded as other countries were interested in joining it; it did not name any.

Persons: Dado, Marat Gurt, Olzhas, David Evans Organizations: REUTERS, Central, Gazprom, Thomson Locations: Turkmenistan, ASHGABAT, Russia, Central Asia, China, Moscow, Kazakhstan, Uzbekistan, Ashgabat

☆ Bolivia challenges global dollar dominance with Chinese yuan, Russian rouble
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

LA PAZ, July 28 (Reuters) - Bolivia's government is determined to curb dependence on the U.S. dollar for foreign trade, instead turning to the Chinese yuan, officials said, as Latin American support for alternative currencies grows. Bolivia has faced months of severe dollar shortages, driven in part by falling natural gas production, a key national export. Net foreign currency reserves have fallen to roughly $4 billion from a peak of $15 billion in 2014, pressuring state finances and threatening Bolivia's long-defended currency peg with the dollar. Not in dollars, but in its own currency," Montenegro said. Financial transactions worth 278 million Chinese yuan ($38.7 million) accounted for 10% of Bolivia's foreign trade in May through July, Montenegro said.

Persons: Marcelo Montenegro, Mikhail Ledenev, Daniel Ramos, Lucinda Elliott, Richard Chang Organizations: LA, U.S, Banco Union, Russia's, Thomson Locations: LA PAZ, La Paz . Bolivia, China, Montenegro, Bolivian, Russian, Bolivia, Moscow, Western, Russia, Beijing, Brazil, Argentina

☆ Gazprom to send 40.3 mcm of gas to Europe via Ukraine on Saturday
▼ + stars: | 2023-06-03 | by ( ) www.reuters.com time to read: 1 min

MOSCOW, June 3 (Reuters) - Russia's Gazprom (GAZP.MM) will send 40.3 million cubic metres (mcm) of gas to Europe via Ukraine on Saturday, the company said, down from 40.6 mcm on Friday. Reporting by Reuters Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Mark Potter Organizations: Gazprom, Reuters, Thomson Locations: MOSCOW, Europe, Ukraine

☆ Polish president signs 'Tusk Law' on undue Russian influence
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +3 min

Opposition figures have nicknamed it Lex Tusk, using the Latin word for law. "In a normal democratic country, somebody who is president of that country would never sign such a Stalin-esque law," PO lawmaker Marcin Kierwinski told private broadcaster TVN 24. CONCERNSThe Polish Judges' Association Iustitia said the law breached European Union values and could prompt more punitive EU measures over democratic backsliding in Poland. Poland's dependence on Russian energy has progressively declined, even before Russia invaded Ukraine in February 2022. The construction of a liquefied natural gas (LNG) import terminal, allowing the import of non-Russian gas, started when Tusk was in power.

While paying bonuses at bailed-out energy groups raises questions around the use of taxpayers' money, it also highlights the need for the companies to remain competitive. One of the sources said 200 of Sefe's traders in London had received hundreds of millions of dollars in bonuses, adding mid-level traders had received $5 million-$7 million each. Two of the other people said that generous subsidies had been paid at both Sefe and Uniper. Uniper confirmed that bonuses were paid to trading staff for 2022 but below the level of the previous year. The Finance Ministry, which is responsible for the government's ownership of Uniper, also referred questions on operating issues including staff remuneration to the company.

☆ Vast China-Russia resources trade shifts to yuan from dollars in Ukraine fallout
▼ + stars: | 2023-05-11 | by ( Chen Aizhu | ) www.reuters.com time to read: +7 min

[1/2] Model of natural gas pipeline, Russian and Chinese flags and Yuan and Rouble banknotes are seen in this llustration taken, September 7, 2022. "For now, and for the foreseeable next few years, I think the trade using RMB will predominantly be used for commodity and energy trade." Russian President Vladimir Putin has said that two-thirds of trade between Beijing and Moscow is now settled in roubles or yuan. Surging commodity imports pushed China's trade deficit with Russia to $38 billion last year, although the gap has narrowed in the first four months of 2023. Gazprom, which said last September it had agreed with CNPC to settle gas trade in roubles and yuan, did not respond to requests for comment.

☆ Russia's Gazprombank deepens ties with Indian banks for bilateral trade
▼ + stars: | 2023-04-17 | by ( Nidhi Verma | ) www.reuters.com time to read: +1 min

Trade between India and Russia has surged since the West imposed sanctions against Russia for its invasion last year of Ukraine, which has altered flows of oil and other goods. "Now we have infrastructure, we have payments from banks ... it is much better than it was three months ago," she added. Gazprombank is Russia's third-largest lender by assets and a key conduit of the Russian energy trade. Due to higher purchases of oil, the trade balance is tilted increasingly in favour of Russia. India last year implemented a broader framework to facilitate overseas trade in rupees and since then many foreign banks, including Gazprombank and other Russian institutions, have opened vostro accounts with Indian banks.

☆ Ukraine's Naftogaz says Russia told to pay $5 billion for seizing Crimea assets
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Ukraine's state energy company Naftogaz is seen outside the company's headquarters in central Kyiv, Ukraine October 18, 2021. REUTERS/Gleb Garanich/File PhotoKYIV, April 13 (Reuters) - Ukraine's state-owned gas company Naftogaz said on Thursday that Moscow had been ordered by an arbitration court in The Hague to pay $5 billion in compensation for unlawfully expropriating its assets in Russian-annexed Crimea in 2014. "Despite Russia's attempts to obstruct justice, the Arbitration Tribunal ordered Russia to compensate Naftogaz for losses of $5 billion," Naftogaz said. The company, whose assets in Crimea included Chornomornaftogaz which produced significant amounts of gas from the Black Sea, gave no further detail of which overseas Russian assets it could target. Naftogaz has been in talks with investors on a debt restructuring to bring the company out of a months-long default.

☆ India remains top destination for Russian Urals oil in April
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, April 10 (Reuters) - India remains the main destination for Russia's seaborne Urals oil, with about 70% of such exports heading to the country, Reuters monitoring and data from two industry sources showed on Monday. Last month Russia's Rosneft and Indian Oil Corp (IOC.NS) announced a supply deal for up to 1.5 million tonnes of Russian oil (11 million barrels) per month from April 1. Urals oil shipments to China, meanwhile, have not increased significantly in April. "China is buying Urals, but not as actively as was expected," a trade source involved in Russian oil trading said. Russia's Gazpromneft shipped 140,000 tonnes of Urals from Novorossiisk to Myanmar in April, having supplied it for the first time in March.

☆ Factbox: Russia's tighter energy ties with China since Ukraine war
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +4 min

In February 2022, China also agreed to buy up to 10 bcm of gas annually by around 2026 via a pipeline from Russia's far east island of Sakhalin. Russia's gas exports to China are still a small fraction of the record 177 bcm it delivered to Europe in 2018-19. Since the start of the Ukraine war in February 2022, volumes to Europe have shrunk, reaching about 62 bcm in 2022. - China's seaborne imports of Russian oil are set to hit a record in March as Chinese refiners take advantage of cheap prices as domestic fuel demand rebounds. - China has largely ignored the sanctions imposed by Western nations on seaborne Russian crude since Dec. 5.

☆ West gains advantage as it vies with Russia for influence in Serbia
▼ + stars: | 2023-03-01 | by ( Aleksandar Vasovic | ) www.reuters.com time to read: +7 min

T-shirts with the letter Z, a symbol of Russia's campaign, are sold as souvenirs while far-right groups openly tout support for Russia. Last month, Prime Minister Ana Brnabic said that while Serbia had made progress in EU accession negotiations, Brussels required more. A separate CRTA poll found 61% felt Belgrade should preserve good relations with Moscow even at the cost of EU ties. U.S. and EU sanctions mean Serbia can no longer send its fighter jets or helicopters, based on ex-Soviet technology, to Russia for overhauls, nor purchase new weapons from Russia. Cedomir Stojkovic, a Belgrade-based lawyer and activist whose October Group publishes lists of prominent Serbs who are outspoken supporters of Russia, said Serbia was under Russia's "hybrid occupation".

☆ Analysis: Gazprom's export revenue may fall by 50% in 2023
▼ + stars: | 2023-02-14 | by ( Oksana Kobzeva | ) www.reuters.com time to read: +5 min

If the trend continues, Gazprom's export revenues for the whole year could be halved compared to 2022 when its export volumes also declined by nearly half. LOWER REVENUESIn 2022, Gazprom's export volumes fell by 46%, according to the company. Gazprom has not provided forecasts for gas exports for this year. Gazprom's exports outside ex-Soviet Union fell by more than 45% to 100.9 bcm in 2022 from 185.1 bcm in 2021. The Economy Ministry forecasts Gazprom's export price for 2023 at $700 per 1,000 cubic metres.

☆ Former Bulgaria energy minister charged with mismanagement of gas deals
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +3 min

SOFIA, Feb 8 (Reuters) - Bulgarian investigators charged former energy minister Alexander Nikolov on Wednesday with mismanagement that led to losses of more than 88 million levs ($48.36 million) at state gas firm Bulgargaz, related to Russia cutting off gas supplies to the country. Russia cut the gas supplies on which Bulgaria was almost fully reliant at the end of April 2022 after the European Union country refused to pay for deliveries in roubles. Former deputy energy minister Danail Nikolov has been charged with malfeasance as part of the same probe. The centre-right GERB party has accused the former government of reformist Kiril Petkov of paying higher prices to secure alternative gas supplies after it refused to pay for Russian gas in roubles. Petkov's coalition government, where Nikolov was energy minister, was toppled in a no-confidence vote six months after taking office in December 2021.

With net profit for the year of $28.7 billion, up from $8.6 billion a year earlier, Equinor joined global oil and gas majors such as ExxonMobil (XOM.N), Shell (SHEL.L) and BP (BP.L) in reporting record returns for 2022. Majority state-owned Equinor (EQNR.OL) became Europe's largest supplier of natural gas last year as Russia's Gazprom (GAZP.MM) cut deliveries over the West's support for Ukraine, sending European gas prices to all-time highs. But gas prices have tumbled in 2023 and Equinor's Oslo-listed stocks have fallen 9% year-to-date, underperforming a 3.3% rise in European petroleum stocks (.SXEP). The board reaffirmed a regular share buyback plan of $1.2 billion per year and said it would make an extraordinary buy back in 2023 of $4.8 billion, for a total of $6 billion. Equinor's previous adjusted earnings record was $36.2 billion in 2008, when North Sea oil prices hit record highs.

☆ Big Oil doubles profits in blockbuster 2022
▼ + stars: | 2023-02-08 | by ( Ron Bousso | ) www.reuters.com time to read: +4 min

The profit surge gave the oil companies scope to increase spending on oil and gas projects, and a chance for some to rethink energy transition strategies to meet new demands for security of supply. The combined $219 billion in profits allowed BP (BP.L), Chevron (CVX.N), Equinor (EQNR.OL), Exxon Mobil (XOM.N), Shell (SHEL.L) and TotalEnergies (TTEF.PA) to shower shareholders with cash. Oil companies last year also pulled out of Russia, a major energy producer, leading to huge writedowns, including BP's $24 billion exit from its 19.75% stake in Kremlin-controlled oil giant Rosneft (ROSN.MM). Benchmark oil prices are currently near $85 a barrel. BP will lean more into oil & gas for the remainder of this decade," Clint said in a note.

☆ Equinor shares soar on record 2022 profit, Q4 beat
▼ + stars: | 2023-02-08 | by ( Nerijus Adomaitis | ) www.reuters.com time to read: +4 min

Net profit for the year was $28.7 billion, up from $8.6 billion a year earlier. The company joined global oil and gas majors such as ExxonMobil (XOM.N), Shell (SHEL.L) and BP (BP.L) in reporting record bottom lines. Equinor's previous adjusted earnings record amounted to $36.2 billion in 2008, when the price of North Sea oil had risen to record highs. Equinor said it expected capital spending for 2023 at between $10 billion and $11 billion, broadly in line with a previous plan. It raised it spending projection for the next three years to $13 billion per year from $12 billion seen before.

☆ Equinor posts record profit for 2022, Q4 beats expectation
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ints Kalnins/File PhotoOSLO, Feb 8 (Reuters) - Equinor (EQNR.OL) on Wednesday posted a record $74.9 billion adjusted operating profit for 2022, more than double the previous record thanks to soaring gas prices and with fourth-quarter results beating analyst expectations. The oil and gas producer's adjusted earnings before tax and interest for October-December rose to $15.1 billion from $15 billion a year earlier, beating the $14.4 billion predicted in a poll of 25 analysts compiled by Equinor. The majority state-owned company last year became Europe's largest supplier of natural gas as Russia's Gazprom (GAZP.MM) cut deliveries amid the West's support for Ukraine, sending European gas prices to all-time highs. Equinor's previous adjusted earnings record amounted to $36.2 billion in 2008, when the price of North Sea oil rose to record highs. Gas prices have tumbled in the new year, however, and Equinor's Oslo-listed stocks have fallen 15% year-to-date, underperforming a 1% rise in European petroleum stocks (.SXEP).

The company, which nearly collapsed after Moscow cut and then stopped gas supplies to Germany, now sees a net loss of 19.1 billion euros ($21 billion) for 2022, it said on Wednesday. It said on Wednesday that losses caused by costs to replace Russian gas volumes reached 13.2 billion euros in 2022. "The development of the gas price has a major impact on Uniper's losses for realized and future gas replacement procurement. She said the significant decrease in gas prices at the end of 2022 meant expected losses for future gas replacement costs were reduced to 5.9 billion euros from 30 billion euros. "The actual losses and anticipation of losses from gas replacement cost in the future will continue to significantly fluctuate with changing gas prices," Uniper said.

☆ Serbia asks Russia to end recruitment of its people for Ukraine war
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

BELGRADE, Jan 17 (Reuters) - Russia should halt its efforts to recruit Serbs to fight alongside its Wagner paramilitary group in Ukraine, Serbian President Aleksandar Vucic said. Vucic criticised Russia's websites and social media groups for publishing advertisements in the Serbian language in which the Wagner group calls volunteers to join its ranks. Serb volunteers took part in the fighting alongside pro-Russian forces in Ukraine in 2014 and 2015. Serbian Defence Minister Milos Vucevic also warned Serbs against joining Russian ranks in the war against Ukraine. Serbia is entirely dependent on gas imports from Russia and its NIS oil retailer is owned by Russia's Gazprom.

☆ Norway expects jump in oil output and gas near record highs
▼ + stars: | 2023-01-09 | by ( Nerijus Adomaitis | ) www.reuters.com time to read: +2 min

OSLO, Jan 9 (Reuters) - Norway's oil output is expected to rise by 6.9% this year as the huge Johan Sverdrup field ramps up production while gas volumes are predicted to remain unchanged near record highs, the Norwegian Petroleum Directorate (NPD) said on Monday. Production of crude oil and other petroleum liquids such as condensate is likely to increase to 2.02 million barrels per day (bpd) in 2023 from 1.89 million last year, NPD's forecasts show. The combined volume of oil and gas is expected to rise to 4.12 million barrels of oil equivalent per day (boed) in 2023, up from a preliminary 3.99 million boed last year, the NPD's forecasts show. The country's gas output is expected to stay virtually unchanged in 2023 at 122 billion cubic metres (bcm), or 2.1 million barrels of oil equivalent per day, the NPD said, in line with a recent government projection. ($1 = 9.9232 Norwegian crowns)Reporting by Nerijus Adomaitis Editing by Terje Solsvik and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

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