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    Russian Oil and Gas Industry: News #4

    kvs
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    Post  kvs Mon Jun 13, 2022 10:09 pm

    lancelot wrote:Remember when the EU wanted to pay $40 USD or less per tcm?

    The morons fell for the cheap US trick of dumping LNG on the EU market at way below cost. It was an obvious
    political move, but EU-tards were too retarded to catch on. They only have "IQ" when it comes to Russia.

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    Post  Hole Tue Jun 14, 2022 9:29 am

    Who cares which country is re-selling to whom. The only thing that matters is that the money ends in Russia.

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    Post  ludovicense Tue Jun 14, 2022 11:01 am

    Kiko wrote:Russia becomes India's 2nd largest oil supplier, 13.06.2022.

    Russia became India's second-largest crude oil supplier in May as New Delhi is stockpiling the Russian commodity at a discount, Reuters reported on Monday, citing trade sources.

    According to the report, Indian refineries received about 819,000 barrels per day of Russian oil last month, compared to about 277,000 in April. 

    Iraq retained its position as India's largest oil supplier, while Saudi Arabia, which was previously India's second-largest exporter, fell to third place.

    Overall, India's oil imports in May totaled 4.98 million barrels per day, an increase of 5.6% from the previous month and about 19% from the previous year, as domestic refineries were forced to increase production amid rising demand.

    Many oil buyers began to despise Russian oil when Western sanctions hit the country in response to Russia's military operation in Ukraine, launched in late February. The UK and US have gone so far as to place an embargo on Russian oil, with the EU also planning the move in a few months. Russia, meanwhile, offered record discounts on its oil to attract buyers, prompting China and India to step up their purchases.

    Despite calls to cut ties with Russia, India said it needed extra oil supplies to avoid a rise in fuel prices at home and noted that its Russian imports accounted for a mere fraction of the country's overall oil needs.

    Yandex Translate from Portuguese

    https://www.brasil247.com/mundo/russia-se-torna-2-maior-fornecedor-de-petroleo-da-india


    -India will become the biggest fossil fuel sales station in the world.... it will be extremely profitable for them.

    -RSA is ceding the Chinese market to Russia in exchange for the European market. A re-accommodation of the market in the face of sanctions. I still don't know the proportions of this agreement but it is closed.

    -While military actions in a war of scale are devastating in terms of human lives and physical destruction, the economic front can be even more devastating. States can be liquidated with out-of-control inflation, leading to chain failures and misery for the population. In fact, the purpose of the blitzkrieg against the Russian economy had this purpose.

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    Post  flamming_python Tue Jun 14, 2022 11:10 am

    Not sure about the RSA ceding China

    They after all have went to the trouble of bringing up a plan to start selling oil in Chinese currency. Why go to the trouble?

    But certainly Russia and Saudi are co-operating

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    Post  ludovicense Tue Jun 14, 2022 12:02 pm

    flamming_python wrote:Not sure about the RSA ceding China

    They after all have went to the trouble of bringing up a plan to start selling oil in Chinese currency. Why go to the trouble?

    But certainly Russia and Saudi are co-operating

    That's what I read. I think it's plausible, as you said there is cooperation between Russia and RSA.

    .................

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    Post  GarryB Wed Jun 15, 2022 4:53 am

    There does not need to be any collaboration between the Saudis and the Russians... the issue is the Americans getting the EU to put roadblocks in the path of cheap Russian gas getting to the European market.

    Those roadblocks had the express purpose of increasing the gas prices in the European market to the levels of the Asian market where the US and Middle East sell their gas... the intent was to cut Russian sales to Europe and sell their own gas in both markets, but they didn't factor in that Russia is not greedy and so the gas they were selling to the Europeans suddenly was no longer in demand in Europe then they could build pipelines to Asia to sell it there, or put it on ships and sell to the world... but building pipelines makes more sense... in the future they could use it to distribute other gases like hydrogen.

    America thought it could sell gas to europe and asia for the asian prices, but they can't handle those capacities so even if they got what they wanted their profits would be very good but their customers would still need other suppliers... which means Russia.

    I think Asia and China are really going to benefit from cheap Russian gas and many of their coal fired powerstations will hopefully convert to gas power as it is cleaner and cheaper.

    Russia and Saudi Arabia are just reacting to the policies of the US to sabotage cheap energy supplies from Russia to Europe... for which Russia really has not reason to interfere or stop them because the EU is largely hostile to Russia anyway so why not send their cheap gas supplies to the far east.

    Mongolia is a very small country with a small population and I think it is fantastic that the next gas pipes to carry gas to China will go through Mongolia... the transit fees will give them a wealth they never dreamed of... they could put it to improving infrastructure and quality of life for everyone... compare that to the Ukraine using transit fees to supply their army with weapons.

    I know which direction I would send the gas...

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    Post  owais.usmani Sat Jun 25, 2022 5:02 pm

    https://www.spiegel.de/wirtschaft/nord-stream-2-wirtschaftsministerium-hat-plaene-zur-enteignung-a-c1f24630-75f0-4da5-ace7-47302462e27d

    Germany is considering expropriating the German section of the Russia-led Nord Stream 2 gas pipeline project, cutting it off from the rest of the pipeline, and using the part on German territory for connecting to LNG supply that will come from Baltic Sea ports, German magazine Der Spiegel reported on Friday.



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    Post  lancelot Sat Jun 25, 2022 6:20 pm

    That article on SPIEGEL. Just like Putin said the West is sawing the branch they are sitting on. Literally.

    I would say it is less an agreement between Russia and the Saudis and more like a tacit acceptance of what naturally needs to happen if this madness is to have a reasonable outcome for world oil market. It is amazing watching MBS being the adult in the room. Just incredible and I never thought I would say that. The Saudis want to make oil deals in yuan and are financing a refinery in China with their own funds. So they clearly want an out of this mess too. Or at least a backup plan. I am sure all of OPEC is in the wheeling and dealing of the huge market turnaround because of the policies of the West. There are probably all sorts of shenenigans and secret deals and BS going around. Oil is being laundered in a huge scale. Because you know what this change in suppliers and destinations makes no sense economically. But whatever.

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    Post  kvs Sat Jun 25, 2022 6:36 pm

    owais.usmani wrote:https://www.spiegel.de/wirtschaft/nord-stream-2-wirtschaftsministerium-hat-plaene-zur-enteignung-a-c1f24630-75f0-4da5-ace7-47302462e27d

    Germany is considering expropriating the German section of the Russia-led Nord Stream 2 gas pipeline project, cutting it off from the rest of the pipeline, and using the part on German territory for connecting to LNG supply that will come from Baltic Sea ports, German magazine Der Spiegel reported on Friday.




    As if Russia loses from this. These retards are truly f*cktards. They are digging the hole deeper out of spite. Spite will not defeat
    Russia. It is clearly defeating those possessed with spite.

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    Post  Kiko Sat Jun 25, 2022 9:24 pm

    This is outrageous. Should've requested permission from the State Department!

    Bloomberg: The European Union is buying more Russian oil, 25.06.2022.

    The increase is perceived, despite the embargo agreed by the community bloc less than a month ago.

    Europe has increased the amount of oil imported from Russia, Bloomberg reported this week, after collecting tanker tracking data. Despite the embargo agreed by the bloc less than a month ago, the continent's refineries received 1.84 million barrels per day of Russian crude last week.

    The volume of cargo represents the third consecutive weekly increase in shipments from Russia to Europe, including to Turkey, being at the same time the largest in almost two months, the media indicates.

    The increase is attributed, in part, to the activities of Litasco SA, the commercial arm of the oil company Russian Lukoil, which transported the crude oil to its refineries in Italy, Romania, and Bulgaria, and, in part, to the acquisitions of Turkey, took advantage of the generous discounts advertised by Russian providers.

    At the end of May, the European Union agreed to ban the export of Russian oil to the territory of the community bloc, cutting off about 90% of imports by the end of this year. The embargo prohibits maritime supplies, but contains certain exemptions for imports through the pipelines.

    According to Bloomberg, some companies and countries have already reversed course, clearing the market for others, who see no reason to continue buying Russian oil at current prices, more advantageous compared to other alternatives.

    Yandex Translate from Spanish.

    https://actualidad.rt.com/actualidad/433819-union-europea-comprar-petroleo-ruso

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    Post  owais.usmani Wed Jun 29, 2022 11:12 am

    Russian Oil and Gas Industry: News #4 - Page 3 Image_10

    Following footsteps of India, Pakistan is also now looking into the possibility of importing cheap crude oil from Russia. thumbsup

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    Post  lancelot Thu Jun 30, 2022 3:32 am

    owais.usmani wrote:Following footsteps of India, Pakistan is also now looking into the possibility of importing cheap crude oil from Russia.
    It is highly unlikely to happen since the Saudis are major bakers of Pakistan. Pakistan has wanted to buy oil and gas from Iran for eons but the Saudis and the US always "convince" them not to.

    The thing which makes most financial sense for Pakistan, and India, is having piped oil and gas from Iran, it is right next door, plentiful and cheap. Both want it. But the Saudis and US always twist the Pakistanian's arms not to do it, and last decade the US managed to convince India as well not to even buy Iranian oil sent by ship.

    Watch what is happening in Pakistan, Imran Khan went to Russia to buy wheat, and the US found a way to kick him out from government. And the current government is in the process of dismantling their own economy while under the control of the IMF.

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    Post  owais.usmani Fri Jul 01, 2022 5:55 am

    owais.usmani wrote:Russian Oil and Gas Industry: News #4 - Page 3 Image_10

    Following footsteps of India, Pakistan is also now looking into the possibility of importing cheap crude oil from Russia. thumbsup

    Or maybe not........ dunno scratch

    https://www.dawn.com/news/1697442/cons-outweigh-pros-as-govt-examines-russian-oil-options

    Cons outweigh pros as govt examines Russian oil options


    ISLAMABAD: The much-talked-about Russian oil imports intended for cost savings may not materialise at institutional level as the cons outweigh pros, coupled with Moscow’s disinterest.

    Informed sources told Dawn all the refineries had the technical capacity to the extent of 30 to 35 per cent to process Russian crude grades with minor adjustments. None of the Pakistani refineries can handle 100pc Russian crude of any grade. This simply means that imports from Russia can help diversify oil sources.

    As rising global oil prices took a heavy toll on all sectors of the economy, former prime minister Imran Khan floated the idea of buying discounted Russian crude. However, after the current coalition government came to power, Finance Minister Miftah Ismail claimed that Russia had not replied to the previous administration’s communication regarding the offer.

    A financial arrangement in the given political and regional environment is the key challenge. In fact, one of the big refiners had recently on its own arranged a couple of cargoes of Russian crude, but this was done through a third-party deal. This means a private trader provided Russian crude at different ports to Pakistani refiners and hence payments did not go directly to any Russian entity.

    However, a senior industry executive said such an arrangement on a larger scale was not sustainable. That is a major challenge because Pakistani importers — currently struggling to arrange normal letters of credit (LCs) for oil imports under the country risk profile and limited foreign exchange reserves — have no financial backing to take a plunge.

    Leading Pakistani banks like the National Bank of Pakistan and Habib Bank could not take a risk in the given circumstances because their operations mostly aligned with western countries.

    Relatively smaller banks like Faysal, Meezan and Habib Metro, having Middle Eastern or Swiss shareholding, could opt for such arrangements, but then a strong political will in Pakistan and even stronger commitment from Russia was required.

    Several refining experts agreed that the government was doing an exercise to explore Russian oil imports, but it was more for optics than actual interest in imports given the tilt of leading coalition partners towards the West than Russia.

    The sources said a recent foreign ministry meeting discussed exploring energy imports, particularly crude from Russia, but no conclusive direction could be adopted.

    Based on discussions in that meeting, the Ministry of Energy asked its four refineries — three coastal and another in Multan — to give their input and analysis regarding crude imports from Russia.

    They were asked to respond to the technical suitability of crude grade in view of each refinery’s configuration, yield, quantity and the grade of the subject crude required by the respective refineries.

    The refineries were also required to give a transportation and freight analysis for imports from Russia compared to regular imports from the Middle East on cost and benefit analysis and possible payment methodology.

    The refiners were also asked to give feedback on existing commitments of upliftment from the Arab Gulf region under various term contracts.

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    Post  Broski Fri Jul 01, 2022 1:41 pm

    Pakistan's new pro-western government has no intentions of buying cheap russian crude which is fine, India is the bigger and much more important customer.

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    Post  Arrow Fri Jul 01, 2022 3:02 pm

    https://twitter.com/spriteer_774400/status/1542874399426109440?t=mp4fBUKt8IfUNVcO7tTUig&s=19
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    Post  JohninMK Sun Jul 03, 2022 10:10 pm

    Ukraine War Report🇺🇦
    @UkrWarReport
    ·
    Jul 2
    ⚡In June, Russian gas transit through Ukraine reached a historic minimum since 1991 - GTS

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    Post  GarryB Mon Jul 04, 2022 6:45 am

    It is highly unlikely to happen since the Saudis are major bakers of Pakistan. Pakistan has wanted to buy oil and gas from Iran for eons but the Saudis and the US always "convince" them not to.

    Cheap gas is cheap gas... the arguments from the Saudis and US might not have as much weight as they used to.

    The thing which makes most financial sense for Pakistan, and India, is having piped oil and gas from Iran, it is right next door, plentiful and cheap. Both want it. But the Saudis and US always twist the Pakistanian's arms not to do it, and last decade the US managed to convince India as well not to even buy Iranian oil sent by ship.

    I would think it is in the interests of Pakistan and India to look to their own needs and their own situation and start to ignore the US.

    Watch what is happening in Pakistan, Imran Khan went to Russia to buy wheat, and the US found a way to kick him out from government. And the current government is in the process of dismantling their own economy while under the control of the IMF.

    That is very true, but they also had that level of control in Iran when the CIA had the Shah in power and they fucked things up so badly everything went tits up and they had to leave in a real hurry and it seems they are still not ready to let them come back in Iran...

    Are they about to repeat the same mistakes in Pakistan now?

    Cons outweigh pros as govt examines Russian oil options

    Looks like an article desperately trying to pour cold water on the whole idea... I wonder who pays them... I am guessing they get paid in US dollars though.

    Pakistan's new pro-western government has no intentions of buying cheap russian crude which is fine, India is the bigger and much more important customer.

    Pro western in this case translates to happy to sabotage Pakistans future to help the richest 1% of the population in the US get marginally richer.

    Wonder how long they will retain power turning down trade on cheap oil... not a huge problem for Russia of course... China and India could take on most of what the west is turning its nose up at...

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    Post  owais.usmani Mon Jul 04, 2022 9:27 am

    owais.usmani wrote:

    Following footsteps of India, Pakistan is also now looking into the possibility of importing cheap crude oil from Russia. thumbsup

    https://nation.com.pk/2022/07/01/pak-oil-refineries-refuse-to-buy-russian-oil/

    Pak Oil Refineries Refuse To Buy Russian Oil


    ISLAMABAD – While National Refinery Limited has excused from the import of Russian crude oil, all the refineries showing their limitations have said that the transportation cost, increase voyage time, low/no capacity to process it, payment procedure and the long term contract with Middle Eastern suppliers are the main hurdles in the way of the Russian oil import.

    “We have a long term agreement with Saudi Aramco and maintaining current appetite/ feed of lube refineries we may not be able to process any other crude unless the techno/economic study suggests otherwise,” National Refinery Limited said in a letter (available with The Nation) to the Petroleum Division.

    In response to the Petroleum Division’s letter on the import of Russian crude oil, the National Refinery Ltd has said that NRL has lube refineries and the configuration of the refineries restricts the list of feedstock. We have been from time to time unsuccessfully trying to identify alternate feedstock to Arabian light crude, which suits the refinery configuration.

    “The normal sailing time from the Middle Eastern ports is about 4 days, whereas not being aware of the port of shipment ex-Russia and the possible route, it is estimated that the voyage time (one way) would be about 20 days. Moreover, the route is likely to pass through war zones,” said the letter.

    “To our understanding presently the import L/Cs are not being confirmed by international banks because of country risk. Doable payments methodology can be arranged by government. NRL’s long term contract is with Saudi Aramco only, from where we are importing Arabian light crude oil required by our lube refineries. Also the government has SFD arrangement, with the government of Saudi Arabia.”

    In response to the Petroleum Division letter on the import of Russian crude, Pakistan Refinery Limited (PRL) has said that PRL has evaluated Major Russian crudes Sokol, ESPO and Urals blend crude based on the data made available to us and the subsequent testing results. Our viewpoint is as under:

    As per the view point of PRL Sokol, basically a light and sweet crude, Sokol has higher middle distillates and low fuel oil contents. Sokol would always be the first-choice crude for PRL when compared with other available grades.

    ESPO blend: Espo is a fairly sweeter crude with a medium-light blend. However, its only demerit is higher quantum of Fuel oil, and its disposal will always be a daunting task. c) Urals blend: it’s a mix of both heavy, light & sour crudes. Urals sulphur content varies from 1.4% to 2.8%. Higher sulphur content variation in this crude will naturally reflect in its product slate thereby making it difficult for the refiner to meet the stipulated product sulphur specification. This crude also contains higher volumes of Fuel Oil and will always pose difficulties in product disposal.

    However, detailed assays and samples of are needed to evaluate the physical and chemical properties of these crudes and their product streams.

    Quantity and grades of subject crudes to be required by the refinery, Considering the highlighted points in and other available information’s and Urals with 1.4-1.6 % sulfur max, all above mentioned Russian crudes can be processed in PRL with a blend ratio of Sokol 75%, ESPO 50% and Urals 35% respectively.

    The PRL current preference is Sokol crude. However, final decision on the procurement of the subject crude will be made after evaluating its economic viability in comparison with crudes that are currently being processed at PRL.

    Transportation/freight analysis for import from Russia in comparison with normal imports from Middle East, cost & benefit analysis a) PRL import major chunk of its crudes oil from middle east region whose freight varies between 1.0-1.5 dollar per barrel. b) Freight charges from KOZMINO load port RUSSIA to Karachi is 8.0 dollar/barrels as quoted by national carrier as provisional quote. Similarly, the sea voyage time from KOZMINO port to Karachi is approximately 22 days.

    Payment Methodology Confirmed Letter of Credit (L/C) in USD from first class bank will be required for payments. However, it is pertinent to mention here that presently all Pakistani banks are not willing to open LCs for Russian Origin crudes.

    Existing commitment of upliftment from Arab Gulf region with respect to term contracts a) According to current term contracts with ADNOC, ARAMCO and KPC 1.2 million MT/ 9.0 million barrels per year are required to be uplifted. b) PRL, after fulfilling its current crude oil Term Contracts obligations can explore the possibility of processing additional 300,000-400,000 MT/year.

    PARCO in its response said that initial technical assessments on the basis of crude oil, assays of Russian Grades indicate that some of the Russian crude grades are technically suitable for processing at MCR in the range of 15-30% of the crude oil blend by replacing some of the existing grades.

    Maximum one or two cargos of 70,000 MT of Russian can be processed at MCR in a month. Furthermore, since most of the Russian crude oils are heavier than our imported grades, therefore, to manage product mix, these can be processed by replacing Arab Light crude oil.

    We have learnt that our Crude Oil Transportation Carrier (PNSC) is not permitted to call on Russian ports, therefore, alternate transportation arrangements would be required through supplier or trader. The current transportation freight for import from Russian Ports is estimated in the range of $ 3.0-3.5 million compared to current freight of $ 0.8-1.0 from Middle Eastern ports.

    The sea voyage from Black Sea ports would also be around 16-25 days compared to 4-5 days from Middle Eastern Ports.

    As per our understanding, payment in US dollars may not be acceptable to Russian companies. Therefore, payment mechanism will have to be devised between Pakistan and Russia and Local banks need to be supported on payment in Rubbles and to be facilitated for settlement of funds.


    It was further responded that PARCO has term contracts with Saudi Aramco and ADNOC with committed upliftment of 110.000 barrels per day (06 cargoes per month) While Term contract with KPC is also in the process of finalization for upliftment on need basis. These commitments are sufficient enough to meet our crude oil requirements. Since Russian origin crude oil can only be processed in a certain quantity (15-30%), for a limited period, we can manage procurement of Russian origin crude oil without compromising on our existing obligations of Term Contracts with Aramco and ADNOC. However, in order to uplift Russian Crude Oils on regular basis, we may have to reduce our contractual volumes in the medium to long term.
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    Post  Kiko Mon Jul 04, 2022 12:40 pm

    Russia makes massive oil discovery in the Arctic, 04.07.2022.

    It is one of the largest recent findings on the Russian shelf, energy giant Rosneft says

    Russian energy major Rosneft has announced the discovery of a huge oil deposit in the Pechora Sea containing an estimated 82 million tons of oil.

    The field was discovered thanks to a drilling campaign in the Medynsko-Varandeysky area. “During the tests, a free flow of oil was obtained with a maximum flow rate of 220 cubic meters a day,” the company’s statement read on Wednesday, noting that the “oil is light, low-sulfur, low viscosity.”

    Rosneft noted that the exploration works in the waters of the Pechora Sea proved the “significant oil potential of the Timan-Pechora province on the shelf and became the basis for continuing the study and development of the region.”

    The company reportedly controls a total of 28 offshore licenses in the Arctic, eight of them in the Pechora Sea.

    https://www.rt.com/business/558090-russia-massive-oil-discovery-arctic/

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    Post  GarryB Tue Jul 05, 2022 4:04 am

    Payment Methodology Confirmed Letter of Credit (L/C) in USD from first class bank will be required for payments.

    Sounds like they don't even want to try to buy Russian oil if they insist on paying in US dollars...

    That is OK... if they don't want cheap Russian oil then Russia will not force them to buy any.

    China has massively increased its purchases and India has started buying it too at the reduced prices.

    It is not like it is a problem for Russia... just a missed opportunity for Pakistan, but the Americans wont let them.

    Perhaps the Americans will get them to buy some Freedom oil... months late and five times the price...

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    Post  JohninMK Tue Jul 05, 2022 9:27 am

    GarryB wrote:[

    Perhaps the Americans will get them to buy some Freedom oil... months late and five times the price...

    In the absence of Venezuelan crude the US has been buying Russian for a while now.

    How long before someone notices that the US is now buying 'Indian' crude?

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    Post  GarryB Tue Jul 05, 2022 10:35 am

    Yeah... do what I say... not what I do... like all the best leaders before they are caught and put in jail.
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    Post  AlfaT8 Tue Jul 05, 2022 12:02 pm

    GarryB wrote:Yeah... do what I say... not what I do...  like all the best leaders before they are caught and put in jail.

    Politicuans being caught and jailed, doesnt happen mucj in the U.S.
    Ask the clintons.

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    Post  franco Tue Jul 05, 2022 12:50 pm

    Is Saudi Arabia Exaggerating Its Oil Production Potential?

    By Simon Watkins

       For years, Saudi Arabia has made some pretty hefty claims about its oil potential.
       It is becoming increasingly clear, however, that the Kingdom may be stretching the truth a little too far.
       Analysts are now beginning to doubt that Saudi Arabia even has the reserves it says it has.

    Not sure if correct place but interesting news. Full article:

    https://oilprice.com/Energy/Energy-General/Is-Saudi-Arabia-Exaggerating-Its-Oil-Production-Potential.html

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    Post  GarryB Wed Jul 06, 2022 3:12 am

    Interesting news at a time when Russia is finding more oil...

    The morons fell for the cheap US trick of dumping LNG on the EU market at way below cost. It was an obvious
    political move, but EU-tards were too retarded to catch on. They only have "IQ" when it comes to Russia.

    They are not morons, they are weasels... their US overlords told them they could replace Russia and solve all the EUs energy problems and gave them a lost leader (a product sold way below cost at a loss to get a new customer with the intention of waiting till all alternative competition has given up or lost interest and then they put their prices to what they should be and make up the money they lost in absence of competition) and pretended that would be the normal price... now that they are desperate to get off cheap gas their only alternative is expensive gas... normally the competition would make complaints about misleading the customers into destroying their trade, but in this case I think Russia will just laugh and find new customers for their product and think how stupid the EU is for being fooled by their leaders and masters in the US and they wont care that they will of course blame Putin and Russia for their problems... the Nazis blamed the Jews for all their problems too didn't help them much and actually generated a lot of pity and good will from the rest of the world... much like the 11/9 attacks on the US... both squandered that good will and used it to further their own agenda... create their own country and grab as much oil as they could respectively.

    It is not about smart or stupid, it is about good people and bad people... good people care about their own people... even the ones that didn't vote to get them elected, and the bad people just care about keeping the 1% who invest in their campaign funds and those with dirt on them that could put them in jail.

    Ask the clintons.

    And while you are asking them about all the people that mysteriously disappear, ask them about all that money donated to help rebuild Haiti... none of it seems to have arrived and is still in Clinton Foundation bank accounts...

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