DIRS.INFO The most relevant business & tech news

☆ UEFA set to reinstate Russian youth teams
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

Following the invasion, which Moscow calls a "special military operation", UEFA decided in February 2022 that all Russian teams - national or club sides - would be suspended from participation in their competitions. "The Executive Committee has asked the UEFA administration to propose a technical solution that would enable the reinstatement of the Russian U17 teams (both girls and boys) even when draws have already been held." UEFA added that Russian teams' matches would be played outside Russia and would not feature the country's flag, anthem or national kit. "... by banning children from our competitions, we not only fail to recognise and uphold a fundamental right for their holistic development but we directly discriminate against them," UEFA President Aleksander Ceferin said. Duka is head of Albania's soccer federation and has been a member of UEFA's Executive Committee since 2019.

Persons: Denis Balibouse, Aleksander Ceferin, Armand Duka, Luis Rubiales, Rubiales, Jenni Hermoso, Duka, Aadi Nair, Christian Radnedge Organizations: UEFA, Union of European Football Associations, REUTERS, Gazprom, Russian U17, Spanish Federation, UEFA's, Thomson Locations: Nyon, Switzerland, Ukraine, European, Limassol, Cyprus, Moscow, Russian, Russia, Bengaluru

The sources said other senior Russian energy officials would also be in the delegation. Gazprom, the world's biggest natural gas producer, and Rosneft, Russia's biggest oil producer, did not immediately reply to requests for comments. The proposed pipeline would bring gas from the Yamal peninsula fields in western Siberia to China, the world's top energy consumer and a growing gas consumer. China and Russia have yet to agree on the terms of gas deliveries via the route, including pricing. Negotiations are complex, in part because China is not expected to need more gas until after 2030, industry analysts said.

Persons: Vladimir Putin, Rosneft Igor Sechin, Yuri Trutnev, Alexei Miller, Igor Sechin, Vladimir Putin's, Putin, Xi Jinping, Sechin, Xi, Vladimir Soldatkin, Gareth Jones, Guy Faulconbridge, Barbara Lewis Organizations: Zvezda, Gazprom, Reuters, China's, Moscow, Thomson Locations: Bolshoy Kamen, Vladivostok, Russia, Ukraine, MOSCOW, China, Beijing, Moscow, Russian, Asia, Europe, Siberia, Mongolia

☆ Russia’s diesel export ban may be just its latest attempt to hurt Europe
▼ + stars: | 2023-09-22 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —Russia’s decision to ban diesel exports to most countries could not have come at a worse time for Europe. But the EU still needs a steady flow of Russian diesel to global markets to keep prices stable. The Russian government announced the curbs — which also apply to gasoline — Thursday, saying they were aimed at stabilizing domestic fuel prices. Diesel is Europe’s economic workhorse, powering the majority of vans and trucks ferrying goods and raw materials round the continent. Before Europe imposed its import ban, Russia supplied 40% of the country’s diesel.

Persons: London CNN —, ” Jorge León, ”, Natalia Kolesnikova, Pamela Munger, Henning Gloystein, Gloystein, “, Tim Lister, Anna Chernova Organizations: London CNN, European Union, Reuters, Kremlin, Diesel, Analysts, European, Rystad Energy, CNN, Gazprom, Getty, Eurasia Group, “, Brent Locations: Europe, Russian, Moscow, Ukraine, Russia, Saudi Arabia, South America, East, North Africa, AFP, Turkey, United States

☆ Russia will sell natural gas to China at almost a 50% discount compared to European buyers
▼ + stars: | 2023-09-08 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Russia expects to sell gas to China at almost half the price compared to European buyers, Bloomberg reported. Gas for China will average $271.6 per 1,000 cubic meters in 2024, versus $481.7 for buyers in Europe and Turkey. Buyers in Europe and Turkey, on the other hand, will face an average price of $481.7. AdvertisementAdvertisementThis year, meanwhile, Russia expects to sell gas to China at an average of $297.3 per 1,000 cubic meters, while the remaining clients in Europe and Turkey will pay an average of $500.6. Meanwhile, Moscow anticipates state-run energy giant Gazprom to supply natural gas to China on a $400 billion contract, via the Power of Siberia connection.

Persons: Mikhail Mishustin, Vladimir Putin, —, Jeffrey Sonnenfeld Organizations: Bloomberg, Service, Buyers, Gazprom, Yale Locations: Russia, China, Gas, Europe, Turkey, Wall, Silicon, Moscow, Siberia, Ukraine

☆ Russia gas price seen much lower for China than for Europe
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

Companies Gazprom PAO FollowMOSCOW, Sept 8 (Reuters) - The price for the Russian pipeline gas for China is expected to be steadily declining in next few years, and is seen much lower than Moscow is selling to Europe, a Russian government document, seen by Reuters on Friday, shows. Oil exports from Russia are also seen declining next year, according to the forecast of Russia's socio-economic development forecast until 2026, while the price of Russian oil is seen rising in 2024. The price of Russian pipeline gas has not been made public by the government or the energy giant Gazprom (GAZP.MM) since the start of supplies in 2019, while analysts have long suspected that it was much lower than the one Russia sells at to Europe. Russian crude oil exports are also seen declining this year to 247 million tons (4.96 million barrels per day) from 248.2 million tons in 2022. It is expected to fall further to 240 million tons next year before recovering back to 247 million tons in 2025.

Persons: Alexander Novak Organizations: Gazprom PAO, Reuters, Gazprom, West, Thomson Locations: MOSCOW, China, Moscow, Europe, Russia, Russian, Turkey, Ukraine

☆ Moldova puts its debt to Gazprom at $8.6 mln, Russian firm disagrees
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

The former Soviet republic, nestled between Ukraine and European Union member Romania, used to buy Russian natural gas. But Gazprom and its Moldovan subsidiary said in late 2021 it had accumulated hundreds of millions of dollars in debt. Prime Minister Dorin Recean added: "After clarifications regarding the debt for natural gas, Moldova and citizens are not obliged to pay the corresponding bills." Parlicov said the auditors had not received documents from Moldovagaz and Gazprom to cover $276 million of the alleged debt. She has previously said that Moldova has no debts to Gazprom for natural gas.

Persons: Victor Parlicov, Dorin Recean, Maria Zakharov, Parlicov, Maia Sandu, Alexander Tanas, Vladimir Soldatkin, Anna Pruchnicka, Alexander Smith, Kevin Liffey, Ron Popeski, David Gregorio Our Organizations: Gazprom PAO, Gazprom, European Union, Romania, Moldovan, Moldova Energy, Foreign Ministry, Moldovagaz, Thomson Locations: CHISINAU, Moldova, Russian, Soviet, Ukraine, Chisinau, Moldovagaz, Moscow

☆ Russian gas exports to EU seen dropping sharply in 2023, state bank VEB says
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

VEB expects total Russian natural gas exports to fall this year to 100 bcm from 131 bcm in 2022. According to Reuters calculations, pipeline natural gas exports to Europe by Kremlin-controlled Gazprom (GAZP.MM) have declined to around 17.7 bcm so far this year. Europe drastically cut purchases of Russian oil and gas following the start in February 2022 of what Moscow has called a special military operation in Ukraine. VEB also expects Russian crude oil exports to decline to 230 million tons (4.6 million barrels per day) this year from 248 million in 2022, amid a possible drop in supplies to the EU to 41 million tons from 115 million tons. VEB forecasts that Russian oil exports will recover to 239 million tons in 2026 thanks to a boost in supplies to China and India.

Persons: Alexander Novak, Darya Korsunskaya, Vladimir Soldatkin, Paul Simao Organizations: Gazprom PAO, European, VEB, Gazprom, Thomson Locations: MOSCOW, European Union, Russian, Europe, Kremlin, Moscow, Ukraine, Russia, Asia, China, India

☆ Moldovan president says audit disproves $800 million Gazprom debt claim: report
▼ + stars: | 2023-09-03 | by ( ) www.reuters.com time to read: +1 min

Moldovan President Maia Sandu attends a press conference during a meeting of the European Political Community at Mimi Castle in Bulboaca, Moldova June 1, 2023. REUTERS/Vladislav Culiomza/File Photo Acquire Licensing RightsSept 3 (Reuters) - An audit carried out by an international firm has disproved Russian gas giant Gazprom's claim that the Moldovan government owes it $800 million, Moldovan President Maia Sandu was quoted as saying on Sunday. The former Soviet republic, situated between Ukraine and EU member Romania, used to buy Russian natural gas. But in late 2021 Gazprom and its Moldovan subsidiary said it had accumulated hundreds of millions of dollars in debt which had to be repaid to ensure further stable supplies. Gazprom put the debt at $709 million a year ago, although the sum might have increased with the addition of interest.

Persons: Maia Sandu, Mimi, Vladislav Culiomza, Sandu, Moldova's, Ros Russell Organizations: REUTERS, Moldovan, Gazprom, Reuters, Thomson Locations: Bulboaca, Moldova, Soviet, Ukraine, Romania, Chisinau

The quarterly production dropped 2.2% to 3.9 million barrels per day, Rosneft said, adding that its first-half sales reached 3.9 trillion roubles ($41 billion), down by more than a quarter from the previous year due to weaker oil prices. Still, revenue in the reported quarter increased 12.1% to 2 trillion roubles. Profits for global oil majors this year have dropped by about half from a bumper 2022, when Russia's actions in Ukraine sent oil and gas prices soaring. Russia divested its oil sales away from Europe to Asia and other global regions after the West imposed sanctions, including an embargo on Russia sea-borne oil purchases, over Moscow's actions in Ukraine. Rosneft's earnings before interest, taxes, depreciation and amortization (EBITDA) in the January-June period declined 5.1% to 1.4 trillion roubles.

Persons: Sechin, Rosneft, Igor Sechin, Vladimir Putin, Vladimir Soldatkin, Jacqueline Wong, Sherry Jacob, Phillips Organizations: OPEC, Gazprom, of, Petroleum, Kremlin, Thomson Locations: Russia, Ukraine, Europe, Asia, India, China

☆ 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

☆ Russian Putin critics like Prigozhin who met an early death
▼ + stars: | 2023-08-24 | by ( Lauren Said-Moorhouse | ) edition.cnn.com time to read: +14 min

No evidence has been presented that points to the involvement of the Kremlin or Russian security services in the crash. Nemtsov’s death came two days before he was set to lead an opposition rally in the Russian capital. Alexander PerepilichnyyOver the years, suggestions have emerged of the possible use of a rare plant poison in the death of Russian financier Alexander Perepilichnyy. ANDREY SMIRNOV/AFP/AFP/Getty ImagesRussian lawyer Sergei Magnitsky died in a Russian prison in 2009. The most prominent voice of dissent in Putin’s Russia, the lawyer, politician and corruption activist for years orchestrated massive street protests.

Persons: Yevgeny Prigozhin’s, Wagner, –, Bill Browder, “ Putin, Boris Nemtsov, Boris Yeltsin, Ilya Yashin, Nemtsov, Vladimir Putin, ”, Nemtsov’s, Boris Berezovsky Boris Berezovsky, Warrick Page, Boris Berezovsky, Putin, Berezovsky, Alexander Perepilichnyy, Perepilichnyy, Sergei Magnitsky, ANDREY SMIRNOV, Magnitsky, Browder, Alexander Litvinenko Alexander Litvinenko, Alexander Litvinenko, Litvinenko –, Robert Owen, Putin “, Litvinenko, Marina Litvinenko, Anna Politkovskaya, JENS SCHLUETER, Lom, Ali Gaitukayev, Politkovskaya, Chechen Republic …, ” Drownings, Prigozhin, Gennady Lopyrev –, “, Lopyrev, Pyotr Kucherenko, Pavel Antov, Vladimir Budanov, Budanov, Alexander Buzakov, Anatoly Gerashchenko, Ravil Maganov, Lukoil, Maganov “, Alexey Navalny, Navalny, Mikhail Khodorkovsky, Sergei Skripal, Skripal, Yulia Organizations: CNN, Kremlin, Getty, Republican Party of Russia, Party, Newsweek, of Justice, Royal Botanic, AFP, Getty Images, Hermitage Capital, KGB, Authorities, The, Protect Journalists, RIA Novosti, Russia’s, Science, Higher Education, Gazprom, Lukoil, Reuters, Moscow Aviation Institute, TASS, Putin’s United, “ Locations: Russia, Boris Nemtsov Russian, AFP, Moscow, Ukraine, Russian, London's, Europe, England, Soviet Union, Britain, Surrey, London, Kew, American, Chechnya, Leipzig, Germany, The New York, Chechen Republic, Washington, Gelendzhik, ”, Cuba, India, Putin’s Russia, Putin’s United Russia, United States

☆ 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

☆ Factbox: China's incumbent and upcoming LNG traders
▼ + stars: | 2023-08-21 | by ( Chen Aizhu | ) www.reuters.com time to read: +5 min

A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. Below is a list of China's main gas traders and their operations globally, according to information from company sources and traders. In May, PCI became the first Chinese firm to gain long-term access to gas storage at a European gas terminal. CNOOC also plans to create a London desk in the coming year or two, following PCI and Unipec. Sumitomo Corp (8053.T), which has a desk to trade piped gas in London is considering expanding into LNG trading, said a company spokesperson.

Persons: Issei Kato, Keith Martin, Wang Bingsi, CNOOC, Norinco, ENN, Chen Aizhu, Yuka Obayashi, Florence Tan, Tom Hogue Organizations: REUTERS, Rights, PetroChina International, PCI, London, Gazprom, China National Offshore Oil Company, Gas Co, ENN, LNG, Beijing Gas, Zhejiang Energy, Zhejiang Energy Zhejiang Energy, Exxon Mobil, Mexico, China Gas Holding, China Gas, JOVO Energy, Privately, SOUTH, Mitsubishi Corp, Marubeni Corp, Tokyo Gas, Korea's SK E, Sumitomo Corp, Thomson Locations: Futtsu, Tokyo, Japan, London, Singapore, Beijing, Dubai, Houston, Sinopec, China, Jiangsu province, ENN, U.S, Hebei, Shenzhen, CNOOC, Zhejiang Energy Zhejiang, Zhejiang, Ningbo, Wenzhou, Zhejiang province, HK, Guangxi province, Yantai, Shandong province, Guangdong, Guangzhou, JAPAN, SOUTH KOREA, Asia

☆ The West’s ‘see no evil’ approach to Serbia’s Vucic is destabilizing the Balkans
▼ + stars: | 2023-08-14 | by ( Christian Edwards | ) edition.cnn.com time to read: +20 min

The result is that, despite Serbia’s professed hopes to join the EU, Vucic has continued to walk a tightrope between Moscow and western powers. A Pristina government official told CNN that they did not want to “surrender” official government buildings to protesters. A decade on, these municipalities have not been created, leaving disputes to fester over the degree of autonomy for Kosovo Serbs. After such episodes, Joseph told CNN that the “see no evil” approach to Vucic’s regime may be starting to crack. “The situation is clear who the bully of the Balkans still is,” Meliza Haradinaj, Kosovo’s former foreign minister, told CNN.

Persons: Moscow’s, Aleksandar Vucic, Vladimir Putin, Daniel Mihailescu, ” Jasmin Mujanovic, Vucic, “, Mujanovic, Alicia Kearns, ”, –, Serbia's Aleksandar Vucic, Albin Kurti, Serbia’s, you’ll, Kearns, wouldn’t, Putin, Viktor, Orban, ” Majda, you’re, Quint, ” Kurti, Kurti, Edward Joseph, Laura Hasani, He’s, Shqiprim Arifi, Arifi, Ben Kilb, ” Dusan, Milorad Dodik, Oliver Bunic, Boris Grdanoski, ” Joseph, Viktor Oban, Joseph, Biden, Aleksandar Vulin, ” “ He’s, ‘ we’re, ’ He’s, I’ve, ” Vucic, Meliza Organizations: CNN, European Union, Putin, Belgrade, Getty, Serbian Progressive Party, SNS, NATO, National Security, United Nations, Kosovo's, EU, Anadolu Agency, Gazprom, Serbian, European Council, Foreign Relations, ”, US, Kosovo Serbs, Kosovo’s, Johns Hopkins University, …, Kosovo Serb, Reuters, British, Kosovo, Kosovar Business Alliance, Kosovar, Serbs, “ Association of, Bloomberg, ASM, Russian, AP, Serbia ”, KFOR, NATO’s Kosovo Force, Red Star, Red Star Belgrade soccer Locations: Russia, Ukraine, United States, Serbia, Europe, Belgrade, West, Kosovo, Kosovo’s, Kosovar, AFP, Russian, Balkan, Western Balkans, British, United, EU, Brussels, Belgium, Moscow, ” Kosovo, Serbs, France, Germany, Italy, Balkans, Pristina, … Serbia, Zvecan, Serbian, Presevo, Albanian, Leposavic, Republika Srpska, ” Republika Srpska, Bosnia, Herzegovina, Dayton, Banja Luka, Kurti, Ohrid, North Macedonia, Republic of Serbia, appeasing Serbia

☆ 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

☆ Gazprom subsidiary files $472-million lawsuit against UniCredit in Russia
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

Unicredit Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoMOSCOW, Aug 7 (Reuters) - RusKhimAlyans, 50%-owned by Russian gas giant Gazprom (GAZP.MM), has filed a lawsuit seeking 45.7 billion roubles ($472 million) from Italy's UniCredit [RIC:RIC:UCCDB.UL], a guarantor of a project held up by EU sanctions, Russian court documents show. The court documents were filed at the Court of Arbitration of St Petersburg and the Leningrad Region. In January, the same court ordered nearly $500 million of assets belonging to Linde , to be frozen at RusKhimAlyans's request. ($1 = 96.8150 roubles)Reporting by Elena Fabrichnaya; Writing by Alexander Marrow; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Linde, Elena Fabrichnaya, Alexander Marrow, Kevin Liffey Organizations: REUTERS, Gazprom, Deutsche Bank, Linde, Industries, Ust, Thomson Locations: Petersburg, Leningrad Region, Baltic, Ust, Russia, Ukraine

REUTERS/Jennifer Hiller/File PhotoSINGAPORE, Aug 4 (Reuters) - Surging U.S. crude exports in 2023 are pushing down oil prices in Europe and Asia, proving a key source of supply as producers cut output and sanctions on Russian crude disrupt trade flows. U.S. crude exports are also easing the loss of supply after Saudi Arabia deepened output cuts from July, above what major producers agreed to in June. The widening exports illustrate the increasing influence of crude from the U.S., the world's biggest oil producer, in the global market. U.S. crude exports have averaged 4.08 million barrels per day so far in 2023, up from an average of 3.53 million bpd in 2022, according to the Energy Information Administration. PRESSURE EXTENDSThe pressure exerted from the WTI Midland exports is even extending to Asian markets for Middle Eastern crude.

Persons: Jennifer Hiller, Brent, it's, Joel Hanley, Rohit Rathod, Adi Imsirovic, John Evans, Muyu Xu, Alex Lawler, Arathy, Florence Tan, Simon Webb Organizations: REUTERS, Midland, P, Energy Information Administration, WTI Midland, United, Dubai, Surrey Clean Energy, Gazprom Marketing, Organization of, Petroleum, Exchange, Futures, Thomson Locations: Texas, U.S, SINGAPORE, Europe, Asia, Saudi Arabia, United Arab Emirates, Midland, Dubai, Africa, Brazil, Singapore, WTI, Saudi, London, Houston

Companies Uniper SE FollowGazprom PAO FollowDUESSELDORF, Aug 1 (Reuters) - Uniper (UN01.DE) announced plans on Tuesday to triple its green investments in the coming years as it confirmed strong financial results in the first half driven by favourable market conditions in a turnaround for Germany's bailed-out utility. Uniper said it would invest 8 billion euros ($8.79 billion) through 2030 for its green transformation alone, triple its average annual investments of the past three years. In May, it flagged profits of more than 2 billion euros expected from hedging its gas supply commitments. Expecting no further financial losses from procuring replacement gas volumes, Uniper said on Tuesday no further capital increases from the German state would be necessary. Its credit line from the KfW state lender has been reduced ahead of schedule to 11.5 billion euros from 16.5 billion euros, the company said.

Persons: Germany's, Uniper, Michael Lewis, Vera Eckert, Rachel More, Friederike Heine, Muralikumar Organizations: Gazprom, Thomson

There is no suggestion the trades break sanctions, although they may make it difficult for sanctions enforcement agencies in Europe and the United States to track Russian oil transactions and prices. The new trading network and practices raise financial risks for Russian oil companies dealing with unknown entities with limited credit history. "We recognise that (sanctions on Russia are) going to change the shape and structure of the Russian oil markets," the official told reporters. In May, Russian seaborne oil supplies to India, which was a rare buyer of Russian oil before the war, reached a record of 1.95 million bpd while China imported 2.29 million bpd. A source with one major Russian oil company said his company was prepared to deal with higher credit risks from buyers for the sake of having stable and rising oil exports.

Persons: Russia's, Rosneft, Everest, Coral, Washington, Lukoil, Dmitry Zhdannikov, Nidhi Verma, Timothy Gardner, Laura Sanicola, Simon Webb, Frank Jack Daniel Our Organizations: NEW, Liberian, Reuters, Shell, Group, European Union, Bellatrix Energy, Leopard, Guron, SEA, Coral Energy, Everest Energy, U.S . Treasury, EU, UK, Treasury, UAE dirham, Shipping, Hindustan Petroleum, Gazprom Neft, Covart Energy, Orion Energy, Media, Rosneft, Nidhi, Thomson Locations: Russia, Ukraine MOSCOW, NEW DELHI, Russia's Ust, Hong Kong, India, Moscow, Asia, Ukraine, Refinitiv, Europe, United States, Australia, China, U.S, UAE, Dubai, Visakhapatnam, Surgutneftegaz, Russian, Geneva, Singapore, Rosneft, Venezuela, MOSCOW, LONDON, Washington, New York

Russia's gas, in contrast to its oil, is not subject to Western sanctions, although Brussels is considering extending its embargo on Russian fuel. Gazprom's gas exports, mainly to Europe, almost halved last year because of the political crisis over Ukraine and after undersea Nord Stream pipelines were damaged by unexplained blasts last September. Timchenko had long challenged Gazprom's monopoly on Russian gas exports, saying in 2012 that Europeans wanted to have an alternative to Gazprom. "I believe that Gazprom Export's marketing campaign led to its European share decrease ... Liquefied natural gas has already come to the market. In essence, a new, cheaper gas market is emerging; one has to see such things," Timchenko told the Forbes magazine in 2012.

Persons: Maxim Shemetov, Russia's, Ronald Smith of, Novatek, Vladimir Putin, Alexei Miller, Putin, Miller, Gennady Timchenko, Timchenko, Oksana Kobzeva, Vladimir Soldatkin, Barbara Lewis Organizations: Gazprom, REUTERS, Stream, EU, Kremlin, European Union, Novatek, BCS, Forbes, Thomson Locations: Russia, Europe, MOSCOW, Ukraine, Brussels, Siberia, LNG, Ronald Smith of Moscow, Germany, Italy, Soviet, St Petersburg, Moscow, Russian

☆ Ex-McDonald's in Russia feeds waste cooking oil to fuel Gazprom Neft's vessels
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

ST PETERSBURG, Russia, July 20 (Reuters) - Russia's successor to McDonald's has teamed up with energy company Gazprom Neft (SIBN.MM) to fuel marine vessels with biofuel produced using waste cooking oil an effort to lower their carbon footprints, the companies said on Thursday. Russia has said it was still committed to its climate targets despite the deepest political rift with the West in decades. It said the new fuel is in compliance with technical regulations and can be used for most sea and river vessels. Vkusno & tochka already supplies waste cooking oil for production of biofuel used for heating of electric-powered buses in Moscow and has been recycling used cooking oil for over a decade. Irina Korshunova, in charge of sustainable development at Vkusno & tochka, said the company processes around 5,500 tonnes of waste cooking oil each year.

Persons: McDonald's, Gazprom Neft Marin Bunker, Anton Soboled, Irina Korshunova, Olesya Astakhova, Vladimir Soldatkin, Alexander Marrow, Angus MacSwan Organizations: Gazprom Neft, Biofuels, Gazprom Neft's, Thomson Locations: PETERSBURG, Russia, Baltic, St . Petersburg, McDonald's, Ukraine, Moscow

☆ Oilfield firm SLB halts all shipments to Russia
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

July 14 (Reuters) - Top oilfield services firm SLB (SLB.N) on Friday said it is halting shipments of products and technology into Russia from all its operations over an expansion of Western sanctions. SLB, the world's largest oil service and equipment provider, was one of the few providers to continue working the country's oil sector following Russia's invasion of Ukraine. The Curacao-domiciled firm recently had 9,600 employees working for top Russian oil and gas companies such as Gazprom Neft and Rosneft. The changes included barring Russia employees from accessing certain software and messaging systems, and walling off the unit from other operations. U.S. oilfield rivals Halliburton and Baker Hughes sold or put their Russian operations on the block soon after the February, 2022, invasion.

Persons: SLB, walling, Baker Hughes, Gary McWilliams, David Gregorio Our Organizations: Schlumberger, European Union, Canada, Gazprom Neft, Reuters, Russia, Halliburton, Thomson Locations: Russia, Ukraine, Curacao, Paris, Houston, London, The Hague, U.S

☆ Russian oil tops price cap set by Western countries for first time
▼ + stars: | 2023-07-13 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —The price of Russian crude oil has risen above a price cap set by the Group of Seven nations, in the first “real test” of whether the West can enforce one of its key sanctions against Moscow. “This is the first real test of the price cap sanctions,” Matthew Wright, a senior freight analyst at Kpler, told CNN. “High interest rates, declining economic activity in China, and a potential recession in the West,” have depressed oil prices globally. The smaller gap shows that the G7 price cap is “having a diminishing impact on Russian oil revenues,” Richard Bronze, co-founder and head of geopolitics at Energy Aspects, told CNN. Despite rising oil prices, buyers like India are unlikely to turn their backs on Russian oil, said Wright at Kpler.

Persons: ” Matthew Wright, Wright, “ It’s, Russia —, That’s, ” Richard Bronze, Natalia Kolesnikova, “, Tim Lister Organizations: London CNN, Group, Moscow, Argus Media, European Union, Argus, EU, CNN, Organization of, Petroleum, Gazprom, US Treasury, International Energy Agency, IEA Locations: China, India, Europe, Russia, OPEC, Ukraine, Brent, Moscow, AFP, Western, Kpler, Russian, Saudi Arabia

☆ Dynamo Kyiv criticise Fenerbahce for pre-season games in Russia
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +1 min

July 9 (Reuters) - Ukrainian club Dynamo Kyiv said Fenerbahce were a club "without honour and conscience" in a strongly-worded statement after the Turkish side travelled to Russia to play in a pre-season tournament. "The bloody money of (Russian energy giant) Gazprom has eclipsed everything for you, left you without honour and conscience," Dynamo said in a statement. Dynamo accused the Turkish club of accepting "bloody handouts from the sponsors of terrorism," and added: "Nothing can justify this step. Last year, Fenerbahce were given a one-game partial stadium closure, suspended for two years, after their fans chanted Russian President Vladimir Putin's name in a game against Dynamo Kyiv. UEFA's Appeals Body had fined Fenerbahce 50,000 euros ($54,835) and ordered the partial closure of their stadium.

Persons: Vladimir Putin's, Body, Rohith Nair, Clare Fallon Organizations: Dynamo Kyiv, Fenerbahce, Zenit St, Red Star Belgrade, Neftci, Pari, Gazprom Arena, FIFA, UEFA, Gazprom, Dynamo, Turkish, Thomson Locations: Ukrainian, Turkish, Russia, Zenit St Petersburg, Red, Azerbaijan, St Petersburg, Russian, Ukraine, Moscow, Bengaluru

Search resuls for: "GAZPROM"

25 mentions found