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    European gas imports

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    Post  TMA1 Tue Aug 23, 2022 1:29 am

    Russia has always been fair and produced on time. That cover is some hardcore propaganda, but like someone previously mentioned The Economist is on par with The Atlantic for being top NWO tier magazines. Thry would write glowing articles for the antichrist for sure.

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    owais.usmani


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    Post  owais.usmani Tue Aug 23, 2022 9:08 am

    https://oilprice.com/Latest-Energy-News/World-News/Europes-Energy-Prices-Soar-To-New-Records-As-Russia-Plans-Gas-Cuts.html

    Europe’s Energy Prices Soar To New Records As Russia Plans Gas Cuts

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    Post  owais.usmani Tue Aug 23, 2022 1:32 pm

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    Post  GarryB Wed Aug 24, 2022 6:40 am

    Putin and Russia have not done anything at all to increase gas prices for Europe, in fact most of the things they have tried to do would reduce the price... extra pipelines were built to ensure Ukraine couldn't hold Europe hostage again and long term contracts were offered for stability for both sides which was rejected by greedy Europe who thought they could build storage facilities and buy when it was cheap and use stored energy when it was not cheap... and all their BS had driven the price up many fold.

    NSII is sitting there brand new ready to be used and they refuse to certify it... but of course they will blame Putin and Russia for high energy prices...

    But EU citizens are pussies and stupid pussies at that and just believe what is convenient... couldn't possibly be their governments and appointed brussels experts are idiots and are destroying their economies to please the US and make the weakened US economy appear less of a problem...

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    Post  JohninMK Sat Aug 27, 2022 5:42 pm

    The Arabs of the North

    War Monitor
    @WarfareReports
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    1h
    ⚡⚡Norway has refused to supply gas to EU partners at a price below the market.

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    Post  GarryB Sun Aug 28, 2022 5:38 am

    Gas and Oil companies have not been making good money for a long while now... it is not fair to expect them to give discounts because the price has gone up... this is a chance for them to make good money and pay back loads and invest in finding new energy resources and transport and extraction resources.

    This is largely because the west and the US in particular has been trying to keep oil prices very low to damage and limit Russia and also Venezuela... damaging their own allies like Saudi Arabia at the same time... this is a chance for them to rebuild and restock for the next dry patch and the barren road ahead when fossil fuels are no longer used widely.

    The US created Covid in a lab and they created the war in Ukraine with all their BS... let the US send the EU some money... not loans... just a few hundred billion US dollars to help out... that is what a good ally would do. Rolling Eyes

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    Post  owais.usmani Wed Aug 31, 2022 12:49 pm

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    Post  GarryB Thu Sep 01, 2022 5:54 am

    Imagine if you really piss the Russians off and they turn off the gas and never turn it back on ever again... they are not obliged to supply cheap energy to an enemy at any price.

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    Post  owais.usmani Thu Sep 01, 2022 8:25 am

    https://www.zerohedge.com/markets/china-aggressively-reselling-russian-gas-europe

    China Is Aggressively Reselling Russian Gas To Europe


    One month ago, we were surprised to read how, despite a suppressed appetite for energy amid its housing crash and economic downturn (for which "zero covid" has emerged as a convenient scapegoat for emperor Xi), China has been soaking up more Russian natural gas so far this year, while imports from most other sources declined.

    In July, the SCMP reported that according to Chinese customs data, in the first six months of the year, China bought a total of 2.35 million tonnes of liquefied natural gas (LNG) – valued at US$2.16 billion. The import volume increased by 28.7% year on year, with the value surging by 182%. It meant Russia has surpassed Indonesia and the United States to become China’s fourth-largest supplier of LNG so far this year!

    This, of course, is not to be confused with pipeline gas, where Russian producer Gazprom recently announced that its daily supplies to China via the Power of Siberia pipeline had reached a new all-time high (Russia is China’s second-largest pipeline natural gas supplier after Turkmenistan), and earlier revealed that the supply of Russian pipeline gas to China had increased by 63.4% in the first half of 2022.

    What was behind this bizarre surge in Russian LNG imports, analysts speculated? After all, while China imports over half of the natural gas it consumes, with around two-thirds in the form of LNG, demand this year had fallen sharply amid economic headwinds and widespread shutdowns. In other words, why the surge in Russian LNG when i) domestic demand is just not there and ii) at the expense of everyone else?

    “The increase in Russian LNG could be a displacement of cargoes going to Japan or South Korea because of sanctions, or weaker demand there,” said Michal Meidan, director of the China Energy Programme at the Oxford Institute for Energy Studies.

    One thing that was clear: China wanted to keep its arms-length gas dealing with Russia as unclear as possible, which is why the General Administration of Customs of China stopped publicizing the breakdown in trade volume for pipeline natural gas since the beginning of the year, with spokesman Li Kuiwen confirming that the move was to “protect the legitimate business rights and interests of the relevant importers and exporters”.

    Well, we now know the answer: China has been quietly reselling that evil, tainted Russian LNG to the one place that desperately needs it more than anything. Europe... and of course, it is charging a kidney's worth of markups in the process.

    As the FT reported recently, "Europe’s fears of gas shortages heading into winter may have been circumvented, thanks to an unexpected white knight: China." The Nikkei-owned publications further notes that "the world’s largest buyer of liquefied natural gas is reselling some of its surplus LNG cargoes due to weak energy demand at home. This has provided the spot market with an ample supply that Europe has tapped, despite the higher prices."

    What the FT ignores, perhaps intentionally, is that it's not "surplus" - after all, if it was Chinese imports of Russian LNG would collapse. No - the correct word to describe the LNG that China sells to Europe is Russian.

    Going back to the story, the details are intuitive: with Russian pipeline gas to Europe effectively shuttered...

    ... Europe’s imports of LNG have soared 60% year on year in the first six months of 2022, according to research firm Kpler.

    Some more details:

    China’s JOVO Group, a big LNG trader, recently disclosed that it had resold an LNG cargo to a European buyer.

    A futures trader in Shanghai told Nikkei that the profit made from such a transaction could be in the tens of millions of dollars or even reach $100mn.

    China’s biggest oil refiner Sinopec Group also acknowledged on an earnings call in April that it has been channelling excess LNG into the international market.

    Local media have said that Sinopec alone has sold 45 cargoes of LNG, or about 3.15mn tonnes. The total amount of Chinese LNG that has been resold is probably more than 4mn tonnes, equivalent to 7 per cent of Europe’s gas imports in the half year to the end of June.

    Make no mistake: all of this "excess" LNG was soured in part or in whole in Russia, but since it has been "tolled" in China, it is no longer Russian. It is instead - drumroll - Chinese LNG.

    The good news is that the 53 million tonnes that the bloc purchased surpasses imports by China and Japan and has brought Europe’s gas-storage occupancy rate up to 77%.If this continues, Europe is likely to reach its stated goal of filling 80% of its gas storage facilities by November (at which point it will start draining the reserves at a breakneck pace to keep warm during the winter). But while China’s economic slump has brought much-needed relief to Europe, it comes with a major footnote. As soon as economic activity bounces back in China, the situation will quickly reverse, and Beijing will no longer re-export Russia LNG to keep Europe warm.

    Hilariously, it also means that instead of being dependent on Russia for gas, Europe is now becoming dependent on Beijing instead for its energy - which is still Russian gas, only this time imported from China - which makes a mockery of US geopolitical ambitions to defend a liberal international order with its own energy exports.

    Worse, while Europe could buy Russian LNG for price X, it instead has to pay 2X, 3X or more, just to virtue signal to the world that it won't fund Putin's regime, when in reality is is paying extra to both Xi and to Putin, who is collecting a premium price thanks to the overall market scarcity.

    Amusingly, without expressly stating it, the FT does imply that Europe is buying Russian LNG by way of China:

    If Russia ends up exporting more gas to China as a means to punish Europe, China will have more capacity to resell its surplus gas to the spot market — indirectly helping Europe.

    Why not just admit the obvious - that China is helping Russia skirt sanctions as both countries get very rich in the process? Because then the FT's own judgment - after all, the newspaper is a conduit of the neoliberal thinking that demanded a complete embargo on Russian energy, an embargo which even the WSJ now admits (see "Russia Confounds the West by Recapturing Its Oil Riches") has backfired spectacularly - would be put into question.

    FT's flaws aside, the newspaper is correct that the longer this kind of circuitous bypass of Russian sanctions by a hypocritical Europe (which signals its virtue so loudly when the adversary is Russia but doesn't dare say peep when it's China) continues, the bigger China's influence on Europe will be:

    The more desperate Europe becomes about its energy supplies, the more China’s policy decisions will have the power to affect the bloc. As Europe attempts to wrestle out of its dependence on Russia for energy, the irony is that it is becoming more dependent on China.

    In the end, all Europe has done is replace one energy master (as Trump warned in 2018) with another, even though both are joined at the hip and laughing at the stupidity of Brussels which, under the sage advice of a petulant Scandinavian teenager, made all of this possible just in time for China - which together with Putin now determines Europe's daily energy intake - to invade Taiwan without a peep from Europe's virtuous signalers.

    So lemme hear y'all say a big LOL lol!

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    Post  flamming_python Thu Sep 01, 2022 9:21 am

    China's reselling Russian gas, and India is reselling Russian oil Twisted Evil

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    Post  LMFS Fri Sep 02, 2022 11:59 am

    clown alert:

    Eurasia & Multipolarity
    🤯🇩🇪 FDP parliamentary group calls for dismantling of the Nord Stream 2 pipeline - Spiegel

    "The FDP parliamentary group wants to close the chapter on the Nord Stream 2 Baltic Sea pipeline once and for all. "As Free Democrats, we demand the dismantling of Nord Stream 2 as well as the development of a concept for legal, technical and environmental safeguards as quickly as possible," reads a position paper adopted at the autumn retreat in Bremen. The FDP parliamentary group wants to end all purchases of raw materials and energy from Russia and Belarus as quickly as possible, as far as this allows for its own economic capacity to act."...

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    kvs
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    Post  kvs Fri Sep 02, 2022 12:57 pm

    Russia should insist that NS 1 be dismantled at the same time. The FDP and its supporters can fart in glass jars while they wait for the US LNG to arrive
    in some indeterminate future.

    I think the current moment in history is very peculiar. Mass hysteria has not typically been so absurdly self-defeating. Are Germans going to start slicing off
    their own testicles soon in the name of the environment and stopping Putin?

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    Post  ALAMO Fri Sep 02, 2022 1:07 pm

    This madness reached the state of self ignition Laughing

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    Post  GarryB Sat Sep 03, 2022 4:46 am

    Well, we now know the answer: China has been quietly reselling that evil, tainted Russian LNG to the one place that desperately needs it more than anything. Europe... and of course, it is charging a kidney's worth of markups in the process.

    Yes... those evil Chinese doing what the west has been doing for centuries... making money filling supply gaps...

    I see that Russia has decided that a turbine in the NSI is damaged and because they can't get them fixed the stoppage of the NSI pipe for three days is going to be permanent until repairs can be made...

    The Europeans have their panties in a bunch over this...

    https://www.rt.com/news/562091-nord-stream-offline-spite-europe/

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    Post  LMFS Sat Sep 03, 2022 11:59 am

    Gazprom says Siemens has no place to repair turbines

    The holding company reported that Siemens is ready to eliminate malfunctions
    MOSCOW, September 3. /tass/. Siemens is involved in the repair work and is ready to fix malfunctions of turbines for Nord Stream, but it has nowhere to repair them, Gazprom said.

    "Siemens takes part in repair works in accordance with the current contract, detects malfunctions, signs an act on detecting oil leaks, and is ready to fix them. Only there is no place to repair it, " the holding said in a statement.

    On September 2, Gazprom announced that oil leaks were detected during the maintenance of the last operating gas pumping unit of Nord Stream, before which it was forced to completely stop pumping through the pipeline. According to Siemens, the complete elimination of engine oil leaks is possible only in a specialized repair facility.

    Earlier, the head of Gazprom, Alexey Miller, said that Siemens currently practically does not have the opportunity to regularly repair units for Nord Stream, it simply has nowhere to do it. Western opponents have already issued such a large number of sanctions documents that they have already become entangled in them and have fallen into their own sanctions trap, the head of Gazprom noted.

    On the situation around Nord Stream
    Gazprom completely stopped deliveries via Nord Stream from the night of August 31 to the night of September 3. The suspension was necessary for maintenance of the only remaining gas pumping unit in operation, which Siemens must carry out every 1,000 hours, Gazprom noted. Upon completion of the work and in the absence of technical equipment failures, gas transportation was to be restored to the level of 33 million cubic meters. m per day.

    Since July 27, the pipeline has been used only at 20% of its maximum capacity. A similar situation has developed due to the violation of contractual obligations by Siemens and Western sanctions. One of the turbines, manufactured in Canada by Siemens Energy, was sent to Montreal for repairs. Due to Ottawa's sanctions against Moscow, the manufacturer initially refused to return the repaired equipment to Germany, but after numerous requests from Germany, it still decided to return it.

    However, now this turbine is stuck in Germany, because Gazprom does not have a complete package of documents authorizing the transportation and repair of engines for Nord Stream. The remaining engines have been taken out of service while waiting for service work to be performed by Siemens specialists.

    https://tass.ru/ekonomika/15638227?

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    Post  JohninMK Sat Sep 03, 2022 12:29 pm

    The following has been ripped as a general summary from MoA. This is catastrophic for Europe this winter as well as for energy prices around the World.

    This event on its own changes everything, add to it the G-7 price cap and, unless abandoned, it will likely be the end of the western world as we have known it.

    This backs up LMFS's words above,

    NOT MY WORDS:-

    Here is the full statement by Gazprom via Telegram (translated, my emphasis):

       On the results of the maintenance of GPU No. 24 at the Portovaya compressor station.

       During maintenance work on the Trent 60 gas compressor unit (GPA No. 24) of the Portovaya compressor station, carried out jointly with representatives of Siemens, an oil leak with an admixture of a sealing compound was detected at the connectors of the terminal connections of the cable lines of the low and intermediate pressure rotor speed sensors.

       Oil has been detected on the cable plug connection of the BPE2 subplate included in the motor.

       Oil was also found in the area of ​​the cable line in the external terminal box of the GPA automatic control system outside the noise and heat insulating casing. The oil leak detection report was also signed by representatives of Siemens.

       Received a Warning from Rostekhnadzor of Russia that the detected faults, damages do not allow for safe trouble-free operation of the gas turbine engine. In this connection, it is necessary to take appropriate measures and suspend further operation of the Trent 60 gas compressor unit in connection with the identified gross violations.

       Similar oil leaks were previously detected at gas compressor units with engines No. 075, No. 076, No. 120, which underwent a factory overhaul and are now in a state of forced downtime. According to information from Siemens, the complete elimination of oil leakage on these engines is possible only in the conditions of a specialized repair shop.

       A letter regarding the identified malfunctions of the Trent 60 unit (No. 24) and the need for their elimination was sent to the President and CEO of Siemens Energy AG, Christian Bruch.

       Until the comments on the operation of the equipment are eliminated, gas transport to the Nord Stream gas pipeline has been completely stopped.

       https://t.me/gazprom/885

    The post is followed by another post with a photo of some panel with wires and some oil on it.

       One of the identified leaks at GPU No. 24 of the Portovaya CS.

       https://t.me/gazprom/886

    Posted by: Petri Krohn | Sep 2 2022 22:58 utc | 111

    Apparently, Nord Stream stopped for a long time...

    Gazprom has a specific maintenance contract with Siemens for the regular overhaul of the turbines part of that apparently being that they receive the set hourly rebuild in Canada. Canada sent one turbine back to Germany and from what I can gather fully rebuilt. Germany was willing to break its sanctions to send the compressor to Russia, but it seems Russia will only accept it if the sanctions applying to Siemens/Russia are lifted.

    Russia has a lot of Siemens equipment. Germany elected the green cult. Let them enjoy the fruits of their labours.

    Posted by: Peter AU1 | Sep 2 2022 22:59 utc | 112

    Russia was quite specific in asking for a simple guarantee that no entity involved in handling the turbines would get slapped with more western valued asset freezes/other illegal sanctions. Germany couldn't stand up for that.

       The U.S. understands this, the Russians understand this, but for some reason Merkel's successors did not. Posted by: Jimmy2 | Sep 2 2022 23:02 utc | 113

    It's not just the new chancellor/govt, it's also media and large parts of the population. So hard for people to grasp the unthinkable, a government working against the majority of the electorate -- as in so much tender loving care like the covid restrictions. /sarc

    Posted by: Nervous German | Sep 2 2022 23:20 utc | 116

    The Siemens turbines. Russia is ensuring strict compliance of EU sanctions.
    Earlier I could not understand why Russia did not hit the west with economic sanctions. Now it is easy to see that all Russia has to do is ensure the west abides by its own sanctions.

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    Post  flamming_python Sat Sep 03, 2022 12:45 pm

    LMFS wrote: clown  alert:

    Eurasia & Multipolarity
    🤯🇩🇪 FDP parliamentary group calls for dismantling of the Nord Stream 2 pipeline - Spiegel

    "The FDP parliamentary group wants to close the chapter on the Nord Stream 2 Baltic Sea pipeline once and for all. "As Free Democrats, we demand the dismantling of Nord Stream 2 as well as the development of a concept for legal, technical and environmental safeguards as quickly as possible," reads a position paper adopted at the autumn retreat in Bremen. The FDP parliamentary group wants to end all purchases of raw materials and energy from Russia and Belarus as quickly as possible, as far as this allows for its own economic capacity to act."...


    They will be able to do that, if not now then eventually

    But the Asia-Pacific region is not going to be as dumb as them, and will continue to source energy and raw materials from their cheapest source.

    And so how will EU production compete with that of rising economies around the world in that case?

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    Post  kvs Sat Sep 03, 2022 1:09 pm

    The testicle slicing is readily achievable, but the consequences will not be pleasant.   The rabid sanctioneers are showing their mental inadequacy fermented
    over decades of masturbatory supremacism.   U-rope and NATzO are supposed to be the centre of the universe.   The rest of the world are just colonial
    serfs.  

    The reaction to Gazprom's evaluation of the turbine is a joke.   Now every EU functionary is a turbine expert.   Siemens is making claims that are BS on their
    face.   Oil leaks are not fixable on the spot unless they are some token issue like a poorly tightened pipe.   These turbines are not an engine from a crappy car,
    they are high pressure and high RPM devices that can fail catastrophically.   Siemens is like WADA, IOC, and every other western dominated entity and is
    serving the anti-Russian agenda.   Russia needs to kick these f*ckers out.

    Also, as posted above it appears that Kanada sabotaged the turbines that were overhauled in Montreal. It seems like most of them developed similar leaks.
    This is not plausible as random chance. Either it is a design defect or more likely it is sabotage.

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    Post  LMFS Sat Sep 03, 2022 1:20 pm

    flamming_python wrote:
    They will be able to do that, if not now then eventually

    But the Asia-Pacific region is not going to be as dumb as them, and will continue to source energy and raw materials from their cheapest source.

    And so how will EU production compete with that of rising economies around the world in that case?

    The Anglos know there is little time until the "pitchforks" moment in Germany comes, that is why it is imperative to use their most loyal puppets now to destroy NSII and any other links to Russia to critically wound Germany, before a less pliable government may appear under massive social unrest. Germans do not easily tolerate being cheated with their money and even all the Green brainwash has its limits, so there will be a reaction, but it seems it will be too late. Europe is being scarified as we speak, even more brutally than anything I could imagine when Brexit made it clear what the elites had planed for the EU.

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    Post  JohninMK Sat Sep 03, 2022 4:46 pm

    Anyone else seen this? Classic Russian move to confuse Laughing

    Wonder if Ukraine has opened the northern branch that they closed when the Russians took control of part of it?

    SGM World News
    @SGMWorldnews
    ·
    6h
    BREAKING: Gazprom has started pumping gas via Ukraine after NordStream 1 was closed due to technical issues

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    Post  Big_Gazza Sun Sep 04, 2022 2:59 am

    When even the WSJ is writing articles like the following, you know there is a sense of panic in the Westernistani capitals Razz

    Russia Confounds the West by Recapturing Its Oil Riches

    Moscow is raking in more revenue than ever with the help of new buyers, new traders and the world’s seemingly insatiable demand for crude

    source

    I'll qute the aticle so that the WSJ doesn't get your traffic

    Russia pumps almost as much oil into the global market as it did before its invasion of Ukraine. With oil prices up, Moscow is also making more money.

    Demand from some of the world’s largest economies has given Russian President Vladimir Putin the upper hand in the energy battle that shadows the war in Ukraine, and has confounded the West’s bid to cripple Russia’s economy with sanctions.

    Sales are booming in Russia’s export market, the world’s largest in crude and refined fuels. And new trade arrangements have given Mr. Putin cover to use natural-gas exports as an economic weapon against Ukraine’s European allies. Before the war, Russia supplied Europe with 40% of its gas. It has since throttled flows through the Nord Stream pipeline to Germany and other conduits, driving prices higher and putting pressure on European households and businesses.

    Oil revenue more than makes up the difference. “Russia is swimming in cash,” said Elina Ribakova, deputy chief economist at the Institute of International Finance. Moscow earned $97 billion from oil and gas sales through July this year, about $74 billion of that from oil, she said.

    The country exported 7.4 million barrels of crude and products such as diesel and gasoline each day in July, according to the International Energy Agency, down only about 600,000 barrels a day since the start of the year.

    Even with the dip in oil exports, Russia has earned $20 billion in average monthly sales this year compared with a $14.6 billion monthly average in 2021, when economies were recovering from the pandemic crash. Shipments were rising again in August, data from ship-tracking firm Vortexa show.

    Russia’s oil-market resilience has drawn a mixed reaction in Washington, which is juggling two conflicting goals: Tamping down inflation with increased global oil supplies, and keeping economic pressure on Mr. Putin.

    Oil prices, which spiked past $130 a barrel in the first weeks of the war, have settled around $100 in recent weeks. While still higher than a year ago, the retreat has brought down gas-station prices in the U.S. and Europe.

    Russian energy sales have flourished by finding new buyers, new means of payment, new traders and new ways of financing exports, according to oil traders, former Russian industry executives and shipping officials.

    “There came a realization that the world needs oil, and nobody’s brave enough to embargo 7.5 million barrels a day of Russian oil and oil products,” said Sergey Vakulenko, an analyst and former Russian energy executive.

    After buyers in the U.S., the European Union and their Pacific allies cut back their Russian oil imports, much of it went to nations in Asia that have declined to take sides in the conflict.

    An unexpected market has been the Middle East. Exports of Russian fuel oil, a lightly refined version of crude, now go to Saudi Arabia and the United Arab Emirates, often stopping in Egypt en route.

    The Russian oil is either burned in Saudi power stations or exported from Fujairah, a U.A.E. port and hot spot for blending Russian and Iranian oils to conceal their provenance. This is oil that before the war was shipped to U.S. refiners.

    The Russian imports, purchased at a discount, free state giant Saudi Arabian Oil Co. to export its crude at market prices. “The Saudis are happy to take their oil and sell it rather than burning it,” said Carole Nakhle, chief executive at consulting firm Crystol Energy.

    The arrangement adds supply to the global oil market, helping put a lid on prices. “This is a win-win situation for the Russians and even, I would say, for the Europeans and the U.S.,” Ms. Nakhle said.

    It also strengthens Russian ties with the Middle East, where Mr. Putin is capitalizing on friction between the Saudis and the Biden administration. Riyadh, joined with Moscow in a cartel known as OPEC+, has resisted U.S. pressure to pump more crude. That has propped up prices, helping Russia during the months when its oil traded at a significant discount.

    Saudi Energy Minister Prince Abdulaziz bin Salman said last week OPEC could cut oil production, rebuffing U.S. pressure to open the spigots and instead sticking by Moscow.

    Loose labeling
    In most cases, Russian oil is legal to buy and sell. The U.S. and EU designed sanctions on the financial system that allow payments for oil to flow to non-sanctioning countries, as well as keep energy prices from rising further.

    Many Western institutions, including banks and commodity trading houses, went beyond what was required by law and said they would cut back or stop any transactions that touched Russian oil. That left smaller traders to facilitate Russian exports when such firms as Glencore PLC and Gunvor wound down their handling of oil produced by Russia’s state-backed Rosneft Oil Co.

    These smaller players moved personnel to Dubai and Singapore to skirt short-lived EU sanctions on dealing with Rosneft, said traders and industry executives.

    To help obscure its oil-trade workarounds, Moscow ended monthly updates on oil production and other data, making it difficult to gauge activity. Often, Russian port documentation no longer details where the country’s oil is heading and who is shipping it, according to traders.

    Middlemen move Russian oil from one ship to another while at sea, an expensive maneuver that both disguises its origin and fills vessels too large to reach Russian ports on the Baltic Sea. Traders say it is likely done to ensure that financial institutions, mindful of sanctions and damage to their reputations, don’t withdraw funding and insurance for the shipments.

    Iranian, Venezuelan and now Russian fuel oil is stored in the trading hub of Fujairah and intentionally disguised, according to oil traders. One trader in Switzerland said he was offered fuel oil that, based on characteristics such as its sulfur content, was clearly Russian. The label said otherwise.

    The rewiring of the oil market stabilized the Russian energy industry after the fear of sanctions struck early in the war. Western buyers and European lenders that bankroll commodity markets froze out Russia. Earlier this year, traders predicted daily Russian exports would fall by as many as 3 million barrels.

    China, Turkey and Middle East nations quickly stepped up their purchases, taking advantage of discounted prices and opening lucrative new trade routes for Russian crude. Some refine Russian oil and make profits exporting it to the West as gasoline and diesel.

    India is now Russia’s best customer. Companies there, under government orders, went from near-zero Russian oil imports to almost a million barrels a day within weeks of the Ukraine invasion.

    Imports have ebbed recently because of refinery maintenance work, said an executive at state-owned Indian Oil Corp., but the company signed a contract with Rosneft to lock in supplies until 2028.

    “Russian oil will find its new way into India, China and other markets,” said Evgeny Gribov, who in March resigned as an executive at Lukoil PJSC, Russia’s second-biggest oil producer. “And even sold at a discount it is more than enough to continue fueling the war.”

    Shadow war

    In the long run, Russia will struggle to remain a top-tier oil supplier, said analysts and current and former energy executives. There are physical limits on how much Russian crude that refiners in India and China can take. And, as Russian machinery ages and access to Western software is lost, sanctions that ban technology imports cloud future energy prospects.

    Wut?  Moskal cave men can't produce oil unless they buy Western equipment and updates to the Holy Machine Spirirt that makes white mans magic work? Hilarious, even in this article where they admit reality, the author must still inject the minimum necessary quota of Exceptionalism  Razz  Razz  Razz

    Winter will test the resolve of Moscow and its adversaries. On Dec. 5, the EU is due to phase in an embargo on Russian oil and a potentially punishing ban on insuring and financing Russian oil cargoes. If enforced, which some traders and analysts doubt, the measures would significantly escalate efforts to handicap Russia’s economy.

    The U.S. and its allies have largely spared such restrictions to avoid driving energy prices higher.

    Arkady Gevorkyan, an analyst at Citigroup, said Russia might struggle to find new buyers for about 1.25 million barrels of the crude and fuel exports that currently head to Europe each day. Livia Gallarati of Energy Aspects said Russia’s daily output of crude and a related fuel known as condensate could drop some 2 million barrels by March next year.

    Really?  Laughing  Yeah, just like the current/past crop of sanctions was going to work... idiots...

    Washington is trying to coax Brussels into restrictions that would limit Russian oil revenue without driving up prices. The U.S. wants the EU to bar insuring cargoes only if they don’t comply with a per-barrel price cap. The aim is to shrink Mr. Putin’s war chest while keeping prices from new highs.

    “We don’t want Big Macs being sold in Moscow,” a senior Treasury official said. “We want cheap oil flowing through the Baltic.”

    Some traders and analysts are skeptical and there has been little progress since Treasury proposed the price-cap idea in June.

    Proceeding with the EU’s proposed restrictions would reveal the continent’s willingness to absorb economic pain on behalf of Ukraine. Many believe Moscow would respond by cutting Europe’s natural-gas supply, which of late has flowed at around 20% of capacity on the Nord Stream pipeline, to zero.

    Vladimir Putin has put mutually assured destruction on the table,” said Helima Croft, head of commodity strategy at RBC Capital Markets.

    It ain't mutual, don't kid yerself.  EU trash bastards will freeze and starve in the dark while Russians continue to live well and warm.   Razz
     


    russia russia russia russia


    Last edited by Big_Gazza on Mon Sep 05, 2022 9:47 am; edited 1 time in total

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    Hole
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    Post  Hole Sun Sep 04, 2022 12:21 pm

    Who is writing this "western" software? Mostly Russians.  Rolling Eyes

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    Post  Werewolf Sun Sep 04, 2022 12:43 pm

    Hole wrote:Who is writing this "western" software? Mostly Russians.  Rolling Eyes

    European gas imports - Page 17 Screen12

    https://www.sayonetech.com/blog/which-country-has-best-computer-programmers-and-developers/

    That is nothing new. If you look at all the credits by cinematic movies, video games or software in general you will always see Chinese, Russians and Indians. Most praised and requested hackers are Hackers who were children of Soviet Education.

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    Post  ALAMO Sun Sep 04, 2022 12:45 pm

    Nigeria is missing.
    Nigerian hackers are so developed, that due to the lack of Internet they send floppy disks with a polite request to install the virus on your own.

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    Post  lancelot Sun Sep 04, 2022 4:17 pm

    flamming_python wrote:China's reselling Russian gas, and India is reselling Russian oil
    Europe continues buying their indulgences as usual. Typical.

    Guys, don't count on NordStream 2 coming online any time soon. There was an announcement several months back that gas turbine engines in the Russian energy grid feeding into NordStream 2 hub in Russia would be moved elsewhere. Put simply the gas from Yamal that would feed it is being moved elsewhere.

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