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    Russian Oil and Gas Industry: News #4

    kvs
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    Post  kvs Wed Jul 06, 2022 2:33 pm

    franco wrote: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

    People are too quick to dismiss peak oil.   Since a clear peak did not form in the 2000s most concluded it
    was all chicken-little BS.   But it wasn't.   The world is in an aggregate plateau with most of it in decline
    but offset by additional production in the US, Canada and elsewhere from previously unexploited expensive
    plays requiring fracking as well as from the use of biodiesel and ethanol.   Those are now counted as oil.

    The problem is that biodiesel and ethanol are never going to replace crude oil.   The fracking and tar sands
    activity is not a even a medium term solution.   The bottom line is that there are nowhere near enough
    conventional crude oil discoveries to offset the decline in existing production fields.   This includes the
    recent Russian discovery.   The world consumes 35 billion barrels of "oil" per year.    Divide by 7 to get
    5 billion tons of oil per year.  

    https://www.statista.com/statistics/1088739/global-oil-discovery-volume/

    Discoveries have been averaging substantially below consumption for a very long time.  

    Russian Oil and Gas Industry: News #4 - Page 4 1x-1_Oil_Discoveries_Bloomberg

    The Saudis have no non-conventional oil like the US and are coasting on their super field called Ghawar.   This
    field is decades old and not growing in size.   It is fast approaching the transition point where the water being
    injected to maintain reservoir pressure will start to come out of the wells.   This typically happens at just above
    50% of the original oil remaining.   This is when instead of oil flowing through the sedimentary porous rock you
    have the formation of an emulsion and water flow with the oil staying trapped in the rock.  

    People have tried to predict when Ghawar will become useless but that is not easy partly because the Saudis
    keep all the relevant information secret.   But once Ghawar dies, the days of large Saudi oil production are over.

    People's smug dismissal of peak oil will not prevent it.   In fact, it will be catastrophic.   The usual peak oil
    bell curve graphic is misleading.   Extraction pressure is not symmetric in time around the peak.   World oil
    demand is pushing higher extraction rates.    This essentially shifts the post-peak production tail towards
    the peak and helps form a plateau instead of a peak.   But the price for this is that there is a cliff at the end of the
    plateau instead of a bell curve decline.

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    Post  PhSt Sun Jul 10, 2022 11:10 am



    Russia makes massive oil discovery in the Arctic

    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.”

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


    After doing some simple search, I gathered that 1 million tons of oil is equivalent to at least 6 million barrels, so in total we are looking at approximately 500 million barrels worth of oil deposit from the area. I was kinda hoping that the new discovery is massive enough to match that of Ghawar.
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    Post  ALAMO Sun Jul 10, 2022 1:06 pm

    PhSt wrote:
    After doing some simple search, I gathered that 1 million tons of oil is equivalent to at least 6 million barrels, so in total we are looking at approximately 500 million barrels worth of oil deposit from the area. I was kinda hoping that the new discovery is massive enough to match that of Ghawar.

    The point is, that while Saudi deposits are all discovered and not going to increase, Gazprom admitted a few years ago that they have researched about 10% of the continental shelf itself. I suppose that oil companies are not better than that.
    As soon as the UN will finally proclaim Russia's ownership of the Lomonosov Ridge shelf part, it will become the Russian exclusive economic zone, increasing the potential reserves by a really serious factor. Time works for them rather than Gulf states.

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    Post  kvs Sun Jul 10, 2022 1:40 pm

    The Arctic Ocean oil and gas deposit potential has essentially been mapped. The core variable is the rock type. Most of the Arctic basin is
    metamorphosed sedimentary. That is sedimentary rock that has been "cooked" by pressure and heat and will not contain any
    gas or oil deposits as they would have been lost in the process if they existed in the original sedimentary rock. The sedimentary
    rock formations in the Arctic are close to the continental shores and most of the promising ones make up the Siberian shelf.

    The Lomonosov Ridge has no fossil fuel potential and is all about extending the EEZ to claim mineral deposits. Russia already
    controls the vast majority of the Siberia shelf gas and oil deposits. BTW, the same pattern applies to Canada where the
    Beaufort Sea is the main Arctic fossil fuel deposit region. This is because of the Mackenzie River basin and the resulting
    sedimentary rock with high carbon content. There is nothing to bother with when considering the Arctic Archipelago.

    Russian Oil and Gas Industry: News #4 - Page 4 ArcticOilGasMap

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    Post  owais.usmani Sun Jul 10, 2022 5:39 pm

    PhSt wrote: I was kinda hoping that the new discovery is massive enough to match that of Ghawar.

    Well they already have Bazhenov shale which dwarfs Ghawar.

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    Post  Kiko Mon Jul 11, 2022 9:41 pm

    Brazil seeking Russian fuel supply – Bolsonaro. 11.07.2022.

    The South American nation may clinch a deal with Moscow on cheap diesel imports, its president says.

    President Jair Bolsonaro says Brazil is close to reaching a deal for the purchase of much cheaper diesel from Russia, Reuters reported on Monday.

    Last week, BRICS Information Portal reported that Bolsonaro had a telephone conversation with Russian President Vladimir Putin, who had reportedly vowed to guarantee the South American country a steady supply of fertilizers, which are crucial for Brazil’s vast agribusiness sector.

    “We have food security and energy security, there are chances that we will buy diesel from there, which is at a more convenient price,” the Brazilian leader was quoted as saying on Wednesday.

    Bolsonaro has been working on proposals to ensure adequate fuel supplies for the country with a minimal impact on prices as the nation struggles with high inflation. According to estimates, Latin America’s largest economy, which consumes more than five million cubic meters of diesel per month, will have to increase imports by over 15% to meet domestic needs.

    https://www.rt.com/business/558773-brazil-seeking-russian-fuel-supply/

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    Post  kvs Mon Jul 11, 2022 10:12 pm

    Russia was supplying toilets like Turdope's Kanada with diesel. It is much better to send such products to the global south including
    Brazil. Let Turdope use his Pfizer vaccines for fuel.

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    Post  Kiko Tue Jul 12, 2022 12:53 am

    Russia becomes Spain's 2nd largest gas supplier, 11.07.2022.

    Russia has replaced Algeria as Spain's second-largest natural gas supplier after flows from the African country fell amid a diplomatic row.

    Relations between Spain and Algeria have reached their lowest point in recent years over a dispute over Western Sahara. As a result, Russia replaced the African country in the rank of second gas supplier to Spain.

    Imports from Russia by the Spanish government reached 8,752 GWh (gigawatt-hours) in June, more than double that of May, amounting to 24% of Spain's total demand, according to information from the gas network operator, Enagás.

    Meanwhile, deliveries from Algeria fell to 7,763 GWh (from 9,094 GWh in May), about half of June 2021, and now account for 22% of demand. The United States remains the largest supplier with a 30% share.

    The decrease in gas flows from Algeria, historically Spain's largest supplier, comes after the diplomatic clash between the two countries.

    The supply of Algerian gas to Spain through the Maghreb–Europe pipeline was stopped in 2021. Algeria does not want the gas to be re-exported to Morocco.

    Yandex Translate from Portuguese

    https://br.sputniknews.com/20220711/russia-se-torna-o-2-maior-fornecedor-de-gas-para-a-espanha-23564476.html

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    Post  JohninMK Tue Jul 12, 2022 11:49 am

    Posted here due to the 10% Russian oil

    By Tsvetana Paraskova of OilPrice.com,

    A Russian court of appeals in Krasnodar overturned on Monday a lower court decision that had ordered the suspension of most of Kazakhstan’s crude oil exports from a Russian port on the Black Sea.

    Last week, a Russian court ordered the Caspian Pipeline Consortium (CPC), which operates the key export route for two-thirds of Kazakhstan’s crude oil, to suspend activities for 30 days, citing environmental violations.

    The exports take place from the Russian port of Novorossiysk on the Black Sea. While the port is in Russia, CPC exports consist of 90 percent crude from Kazakhstan and just 10 percent of Russian oil.

    The 1,500-km CPC pipeline from the giant Kazakh oilfields to Novorossiysk moves over two-thirds of all Kazakhstan export oil along with crude from Russian fields, including those in the Caspian region, CPC says. The consortium said in response to the court ruling last week that it “acts within the legal framework of the Russian Federation and is forced to execute the court Ruling.”

    The court in Krasnodar today overturned the suspension of CPC’s business activities for 30 days and fined the consortium $3,195 (200,000 Russian rubles) instead, the consortium said in a statement.

    For reference, CPC said that “immediate suspension of its activity may lead to irreversible consequences for the operation process, emergence and development of an adverse and uncontrollable process at a technical facility, including its destruction, since the process requirements for oil transportation do not allow the immediate and simultaneous shutdown of operation.”

    Last week’s ruling of the Russian court came days after Kazakhstan’s President Kassym-Jomart Tokayev offered the EU to buy more oil from Kazakhstan instead of Russia.

    The Kazakh president “expressed concern about the risks to global energy security and emphasized Kazakhstan’s readiness to use its hydrocarbon potential to stabilize the situation in the world and European markets,” according to the website of the president, who had a telephone conversation with the President of the European Council, Charles Michel, last week.


    Russian Oil and Gas Industry: News #4 - Page 4 CPC%20pipeline

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    Post  Kiko Wed Jul 13, 2022 11:44 pm

    Russia's oil export revenues rise despite declining supplies, by Nikolay Nikolaev for Vedomosti. 13.07.2022.

    This is facilitated by high prices and a reorientation to Asian markets.

    Russian oil exports in June 2022 fell by 250,000 barrels per day to 7.4 million barrels per day, the lowest level since August last year, according to a July 13 report from the International Energy Agency (IEA). At the same time, according to the organization, Russia's export earnings from oil sales increased by $700 million against the backdrop of high prices and reached $20.4 billion.

    In January-June, Russia exported an average of 7.75 million barrels per day. Deliveries to the European Union (EU) decreased by 33% to 1.8 million barrels per day from February to the end of June, while China and India, on the contrary, increased by 6% and 88% over the same period to 1.8 million and 0.8 million barrels per day, respectively. At the same time, according to the IEA, in June, Russian oil exports to China and India decreased by 175,000 barrels per day compared to May.

    “However, with shipments to unknown destinations also up by 540,000 bbl/d, it is too early to predict a real drop in exports to China and India,” the IEA said in a report.

    The agency's analysts note that in June Russia "surprised again with its oil production," providing the world's largest increase in supply, so the growth in domestic consumption largely offset the decline in exports. According to the agency, the volume of production of oil, gas condensate and a wide fraction of light hydrocarbons (NGL, used as a feedstock in petrochemistry. - Vedomosti) in Russia in June increased by 490,000 bbl/d and reached 11.07 million bbl/d. day. This is only 330,000 barrels per day below the level of production before the start of the special military operation (SVO) in Ukraine.

    On July 8, Russian President Vladimir Putin, during a meeting with government members on fuel and energy issues, announced that the level of oil production with gas condensate in June this year reached 10.7 million barrels per day, which is 500,000 barrels per day higher than in May. This figure is lower than the IEA estimate, but when citing the statistics, Putin did not mention NGLs. “In general, since the beginning of the year, the level of oil production has exceeded the previous year by 3.5%,” the President stressed.

    As Vedomosti wrote, Russia began to reorient oil supplies to Asian markets in March-April of this year due to the refusal of Western countries to buy Russian raw materials because of the SVO. The United States and Great Britain announced a complete embargo on Russian oil in early March, and the European Union only on May 31 was able to agree on a partial ban on offshore oil supplies from Russia as part of the sixth package of anti-Russian sanctions. At the same time, restrictions on supplies via the Druzhba pipeline with a capacity of 720,000 barrels per day will not be introduced in the near future.

    As a result of the imposed restrictions, the Russian brand of Urals oil became profitable for consumers, as it traded at a discount to Brent (on average, the discount reached $30 per barrel). Compared to the end of February, by the beginning of July, the benchmark North Sea Brent rose by 21% to $112 per barrel, the American WTI - by 9.5% to $106 per barrel. As of July 13, Brent is $100/bbl, WTI is $96/bbl.

    Now unfriendly countries, led by the United States, intend to form a cartel of buyers and limit the income of the Russian Federation from oil exports by introducing an artificial price ceiling for it. The United States is seeking to set a price limit for Russian oil at a level at which it would be profitable for Moscow to continue production, US Treasury Secretary Janet Yellen said on July 13. “We heard that some expressed concern that Russia could simply stop production. I would say that as a response from Russia, this does not make much sense. We expect to set a price limit at a level at which it will be clearly beneficial for Russia to continue production,” Yellen said (quoted by RIA Novosti).

    Earlier, the leaders of the G7 countries also said that they plan to limit the price of Russian oil in order to reduce Russia's revenues and stabilize energy prices.

    Igor Galaktionov, an expert on the stock market at BCS Mir Investments, expects a further decline in Russian oil exports in July as well. At the same time, he clarifies, budget revenues will remain strong due to an increase in export duties by 23%, which gives an additional $1.42 per barrel exported. “The decline in exports may be partially offset by rising seasonal demand in the domestic market, but the situation may become more tense in autumn,” he admits.

    Finam analyst Alexei Potavin also expects a decline in Russian oil exports in the second half of the year. “The main intrigue lies in the plans of Western countries to limit the price of Russian oil. The reaction of the Russian authorities to this very clearly indicates that the Russian Federation will not voluntarily fall into the price trap set and will raise the stakes in opposition to the West, reducing its production,” he notes.

    According to Finam's forecasts, until the end of 2022, Brent oil prices will remain in the range of $90-115/bbl. Galaktionov from BCS suggests a price cut to $80-90 per barrel.

    https://www.vedomosti.ru/business/articles/2022/07/13/931207-dohodi-nefti-rastut

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    Post  JohninMK Wed Jul 13, 2022 11:58 pm

    From a poster on MoA.

    Here's an interesting snippet picked up on Eurasia & Multipolarity:

    Eurasia & Multipolarity, [12/07/2022 16:27]

    🏳🌈🇺🇦 (https://cdni.rt.com/russian/images/2022.07/article/62cd4dbd02e8bd51ed1e5b7f.jpg) The EU will eventually throw Ukraine under the bus...

    The European Court of Justice partially upheld the suit of Nord Stream 2 AG against the European Commission on amendments to the EU Gas Directive.

    According to sources, Nord Stream 2 contested the additions to the EU gas directive. The European Court of Justice recognized the presence of an error in the decision of the EU Court of General Jurisdiction dated May 20, 2020 to dismiss the claim about the discriminatory nature of the amendments to the EU gas directive for Nord Stream 2.

    The court decided that "additions to the directive affect the legal situation of Nord Stream 2 AG, as a result, having come to the opposite conclusion, the court of general jurisdiction made a mistake."

    It is specified that the gas pipeline operator is actually blocked under the sanctions. The company can re-file a claim against the EU gas directive.

    And this is where trouble can happen. According to the former Minister of Economy of Poland and the former head of the PGNiG oil and gas concern Piotr Wozniak, if SP-2 files a complaint and submits it successfully, the company will win the case against the European Commission.

    "It will mean disaster for Ukraine, because it will mean that Nord Stream 2 will be launched. And when it is launched, transit through Ukraine will stop

    Ukraine will face the specter of freezing to death in winter. They will have to do something about it. And there is no infrastructure to save themselves The only way is to apply to the Kremlin for inclusion in the Russian gas system, which, of course, will have political consequences."

    @tsargradtv (https://t.me/tsargradtv/19743)

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    Post  JohninMK Thu Jul 14, 2022 1:08 am

    Maybe it will restart , maybe it won't. Keep on your toes Mr and Mrs EU

    Russian Oil and Gas Industry: News #4 - Page 4 FXjg1V8XwAAAaai?format=png&name=small

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    Post  Broski Thu Jul 14, 2022 2:46 am

    I hope Russia builds several Gas and Oil pipelines to China, India and the rest of Asia (minus Japan) and shuts off Yamal & NS1 forever. In the words of Victoria Nuland, "F*ck the EU".

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    Post  kvs Thu Jul 14, 2022 3:19 am

    The legal games and such are just retarded. The EU is run by retarded aristocrat-wannabes who think that their whims
    dictate reality. Restrictions on NS2 absurd and Russia will not be crawling back on its knees begging to be let into the
    EU market. The EU is going to have to eat LNG cake. But there is nowhere near enough LNG export capacity globally
    to replace Russia.

    The joke that is NS2 litigation is the same as the current Kanadian hijacking of the Siemens gas turbine for NS1. Apparently
    some Ukr-Canucks are suing the Kanadian government to prevent the turbine to be returned to Germany and NS1.

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    Post  GarryB Thu Jul 14, 2022 4:02 am

    It is the best feeling when the enemy thinks they are hurting you, but they are just reminding you who the real enemy is so when the situation in Ukraine is resolved and the EU wants to go back to buying Russian gas and Russian oil then Russia can say... sorry all our product is spoken for and is going to our new partners in the rest of the world.

    It is funny because this has all been about preventing Russia making a lot of money exporting their energy resources for the US, worried that it will make Russia rich and powerful. What makes it funny is that though that might possibly be true they were offering their products at minimum profit margin to the EU so that was the least profit they could possibly make with their resources short of selling rights to extract the resources to western countries and then they would get nothing of course.

    The irony is that all this BS... and it is BS... means the west loses cheap energy which helped it live a comfortable lifestyle along with all the other resources they get cheap from their rest of the world colonies, but it doesn't even damage Russia because all the BS is increasing energy prices so even selling less in the short term they are making rather more money, and in the longer term they are likely to move their products to other markets used to paying much higher prices... their lower extraction costs means those markets will go to Russia and the US and Middle East producers will be shut out of those markets and have to migrate to Europe with their higher prices.

    The EU pays more for energy forever, at least to start with the US and ME companies will offer discounts to achieve market share and then gradually ease the price up but it is going to be bare minimum three or four times more than what they used to pay for Russian gas... Russia finds new markets for its product that are not trying to screw them.

    Asia will benefit from cheap energy and the EU will suffer from increased energy costs... all to save Ukrainian nazis by hanging them weapons and marching them into Russian artillery barrages.

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    Post  Big_Gazza Fri Jul 15, 2022 8:42 am

    owais.usmani wrote:
    PhSt wrote: I was kinda hoping that the new discovery is massive enough to match that of Ghawar.

    Well they already have Bazhenov shale which dwarfs Ghawar.

    Bazhenov is a long-term strategic reserve, to be utilized when other more-easily extracted reserves are depleted. Murkans went fracking because they had no other real options, but Russia still has vast conventional oil & gas potential in her Arctic waters and simply has no pressing need to develop her shale plays. Let the Murkans exhaust their shale resources (but make zero money in the process). Russia will watch and learn from US trials and tribulations, and then develop her own shale if and when needed.

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    Post  limb Fri Jul 15, 2022 11:37 am

    Is it true that india is buying russian oil at 70$ per barrel? If yes, why couldn't the Russians sell it for more. Will the west succeed by putting a price cqp on russian oil?
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    Post  Kiko Fri Jul 15, 2022 9:00 pm

    Saudi Arabia doubles Russian fuel imports, 15.07.2022.

    The Reuters agency, citing market data and operator comments, reported that Saudi Arabia's imports of Russian fuel from April to June 2022 were twice as high as last year.

    Despite Western sanctions, between April and June 2021, the kingdom imported about 320,000 tons of fuel from Russia. In the same period of 2022 it was 647,000 tons.

    Saudi Arabia, the world's largest oil exporter, doubled imports to power the power plants needed to meet cooling demand in the summer and release the kingdom's own crude for export, according to the agency.

    US President Joe Biden is visiting Saudi Arabia on July 15 to seek an increase in the kingdom's oil supply to world markets to help lower fuel prices that have aggravated inflation around the world.

    However, the Persian Gulf countries participating in the OPEC+ agreement, led by Saudi Arabia, are not interested in increasing oil production, despite the pressure exerted by the United States.

    Earlier, Russian Foreign Ministry spokeswoman Maria Zakharova had said that energy prices, including oil, began to rise due to miscalculations of Western energy policy.

    In addition, at the end of June, Reuters reported that China had increased its oil purchases from Russia in May. The import amount compared to the month of April, shows that the monthly volume of shipments was record in May 2022.

    Yandex Translate from Spanish

    https://mundo.sputniknews.com/20220715/arabia-saudi-duplica-las-importaciones-de-combustible-ruso-1128364899.html

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    Post  GarryB Sat Jul 16, 2022 3:31 am

    Is it true that india is buying russian oil at 70$ per barrel? If yes, why couldn't the Russians sell it for more. Will the west succeed by putting a price cqp on russian oil?

    They were making profits at 40 per barrel... 70 dollars per barrel is making a very good profit and at the same time rewarding a country for not jumping on the bandwagon to sanction Russia.

    Rewarding non hostile countries with relatively cheap energy they make good money on anyway is how they roll... the US knows that so they had to set up an actual war to separate the EU from cheap Russian energy.

    Note the Soviets didn't stop pumping gas to europe even during the Afghan war in the 1980s when the west was openly supplying weapons to their enemies.

    The only countries with a history of using Russian gas as a weapon is the west.... till now.

    For the west to put a price cap on Russia Russia would have to agree to the terms and cooperate and I really don't think they are in the mood to give those bastards cheap oil... I would think they would rather stop oil sales to hostile countries completely which might push oil prices up to $200 per barrel, except Russia is prepared to sell oil to non hostile countries like China and India for $70 per barrel... I wonder which way the rest of the world will go... and even those that go the way of the west how long can the west operate with oil prices that high? The effect on their economies will be devastating... and of course they will buy oil from countries Russia sells oil to... countries like India can buy three times more than they can use and sell the extra to western countries... for 120 per barrel perhaps...

    Everything the west has tried to block Russian oil sales to the world have backfired and driven up Russian income... even experts in the west are saying it is not a good idea...

    Saudi Arabia, the world's largest oil exporter, doubled imports to power the power plants needed to meet cooling demand in the summer and release the kingdom's own crude for export, according to the agency.

    And that is the crazy thing... as oil prices increase Saudi Arabia is going to want to export all the oil it can produce because it can sell to anyone it pleases, there are no sanctions on Saudi Oil yet, but what to do about domestic needs for oil... why not buy cheap Russian oil... it gives you the best value available on the market and why pay more than you need to?

    Might piss the US off, but when the US stops buying Russian oil and Russian Uranium then perhaps other countries might listen to them.

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    Post  Kiko Sun Jul 17, 2022 9:57 pm

    Bloomberg: Russian fuel shunned by Western countries is flooding Middle East, 17.07.2022.

    Russian fuel deliveries skyrocketed in June and are expected to rise further in July.

    Russian shipments of oil products to the Middle East hit their highest level in at least six years in June, while deliveries to Europe fell about 30 percent, Bloomberg reported on Tuesday, citing data from analytics firm Vortexa.

    According to the report, Middle Eastern countries imported about 155,000 barrels of Russian fuel per day in June, the most since at least early 2016. The data also show that imports began to grow rapidly in February when Moscow launched its special military operation in Ukraine, prompting European Union (EU) member states and other Western nations to impose sanctions on Russia, including its fuel exports.

    More than a third of all Russian fuel imports went to the Port of Fujairah in the United Arab Emirates, Vortexa said. Russian deliveries consisted mainly of fuel oil, but included gasoline, aviation and diesel fuel, and a number of other petroleum products.

    Analysts expect Russian fuel shipments to the Middle East in July to exceed those in June and exceed 220,000 barrels per day.

    Yandex Translate from Portuguese

    https://www.brasil247.com/mundo/bloomberg-combustivel-russo-evitado-por-paises-ocidentais-esta-inundando-oriente-medio

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    Post  owais.usmani Mon Jul 18, 2022 1:05 pm



    Long winters are coming. thumbsup

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    Post  JohninMK Mon Jul 18, 2022 5:03 pm

    Here it comes. The Russians use their contracts 'by the book' so here we appear to have Gazprom starting to lay down the legal framework. Just in case of course Laughing

    Disclose.tv
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    2h
    JUST IN - Russia's Gazprom declares "force majeure" on natural gas deliveries via Nord Stream 1 in a notice to at least one customer in Europe.

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    Post  Kiko Fri Jul 22, 2022 11:27 am

    Tankers carrying Iranian oil switched to transporting Russian, 22.07.2022.

    Bloomberg: tankers carrying Iranian oil are switching to transporting oil from Russia.

    MOSCOW, July 22 - RIA Novosti. More than ten tankers, which previously specialized in the transportation of Iranian oil, have switched to Russian crude, Bloomberg reported , citing data from the analytical company Vortexa.

    Eleven of the monitored vessels, which previously carried Iranian oil, have loaded Russian oil and products since April, totaling sixteen loadings during this period.

    As more companies refuse to ship Russian oil and oil products, those familiar with the trade in commodities under sanctions will continue to use their tankers to transport Russian oil east, according to Armen Azizyan, crude oil market analyst at Vortexa.

    It is specified that most of the ships that have begun to transport Russian raw materials are of the Aframax type, which can carry 730,000 barrels of oil. At the same time, there are large oil carriers among them, which can take on board about two million barrels.

    Thus, deliveries from Russia rose to 250 thousand barrels per day in the first half of July, which is 170 thousand barrels per day more than in April, Bloomberg pointed out.

    According to Chinese customs data for June, which were published by Reuters the day before, Russia remains the largest oil exporter to China for the second month in a row .
    In May, China increased imports of Russian raw materials by 55 percent year-on-year and by about a quarter compared to April. As a result, the monthly volume of deliveries of 8.42 million tons became a record, which allowed Russia to displace Saudi Arabia from the first place among suppliers to China. In June, Russian oil imports, including shipments via the East Siberia-Pacific pipeline and shipping, amounted to 7.29 million tons, up nearly ten percent from a year ago, although below the May record.

    After the start of the Russian special operation to demilitarize Ukraine , Western countries began to impose sanctions against Moscow , in particular on Russian energy resources. Thus, the sixth package of European sanctions provides for the gradual introduction of an embargo on oil imports from Russia. The measures also include a ban on insurance for ships carrying Russian oil.

    https://ria.ru/20220722/neft-1804201923.html

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    Post  Kiko Sat Jul 23, 2022 4:38 pm

    EU eases sanctions on Russian oil exports, 23.07.2022.

    Rosneft and Gazprom may now be able to ship oil to third countries.

    The EU will allow transactions needed for Russian state-owned companies to sell oil to third countries, the EU Council said in a statement on Thursday.

    “With a view to avoid any potential negative consequences for food and energy security around the world, the EU decided to extend the exemption from the prohibition to engage in transactions with certain state-owned entities as regards transactions for agricultural products and the transport of oil to third countries,” the statement reads.

    This provision means that Russian state-owned companies, including Rosneft, Gazprom Neft, and Sovcomflot, are now allowed to conclude deals with Europeans on the transport of oil to third countries.

    In March, the EU introduced a ban on transactions between European companies and Russian corporations, including energy majors Rosneft, Transneft, Gazprom Neft, and Russia's largest shipping company Sovcomflot, among others. Transactions involving the import or transportation of natural gas, oil, petroleum products and a number of metals were initially allowed as exceptions.

    However, as part of the sixth sanctions package introduced last month, the EU imposed a partial embargo of Russian oil, banning sea shipments of oil to the EU and prohibiting European companies from insuring and reinsuring sea shipments of Russian oil and oil products to countries outside the European Union.

    As a result, major energy players such as Vitol, Glencore, Trafigura, Shell and Total stopped trading Russian oil for third countries. Now, however, they will be able to resume business with Russia. The legal details of the new provision will be published in the Official Journal of the EU.

    https://www.rt.com/business/559509-eu-sanctions-russian-oil-eased/

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    Post  owais.usmani Sun Jul 24, 2022 1:21 pm

    I was just reading this article and it mentioned that Russia has 3 oil export terminals on the Pacific coast: https://gcaptain.com/russian-black-sea-oil-exports-double-are-sanctions-still-working/

    I know one of them is Kozmino, what are the other two?

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