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Low-priced Russian Oil Boosts Profits of China's Independent Refiners

Dec 20, 2022

China's independent refiners are boosting their profits from processing low-priced Russian oil as western sanctions on Moscow give them leverage to negotiate for steeper discounts, industry sources and analysts said.The Group of Seven (G7) nations introduced a ceiling price of $60 a barrel for Russian oil from Dec. 5 and the European Union banned Russian seaborne imports to limit Moscow's ability to finance its war in Ukraine…

Sanctions-hit Russia Sending Fuel Oil to Asia, Ship-to-ship Terminals

Aug 24, 2022

Under pressure from Western sanctions, Russia is exporting more fuel oil to Asia and using ship-to-ship transfers to build larger cargoes for distant markets, according to traders and Refinitiv data.The European Union has been reducing imports…

Mitsui, Mitsubishi Shave $1.7 Billion off Sakhalin-2 LNG Stakes

Aug 02, 2022

Japanese trading houses Mitsui & Co and Mitsubishi Corp have cut the value of their stakes in the Sakhalin-2 liquefied natural gas (LNG) project in Russia by 217.7 billion yen ($1.66 billion) following Moscow's move to seize control of the project…

Demand for FSRUs Soars as Europe Works to Cut Reliance on Russian Gas

Jun 21, 2022

Following Russia's invasion of Ukraine, European countries have escalated efforts to wean themselves off Russian gas. FSRUs increasingly are in demand to fill the gap.Following Russia's invasion of Ukraine, European countries have escalated efforts to wean themselves off Russian gas…

Oil Trade; Asia Imports more Seaborne Russian oil than Europe

Jun 20, 2022

Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of…

Ban on Russian Commodity Exports to Accelerate LNG Growth, Energy Transition - Wood Mackenzie report

Jun 16, 2022

War in Ukraine is transforming the outlook for the supply, demand and price of hydrocarbons and the pace and cost of the energy transition. While the precise timing and implementation of future bans on Russian commodity imports are difficult to predict…

Too Early to Consider Investment in Russia, CNOOC Says

Mar 30, 2022

It is too soon for China's CNOOC to discuss fresh investment in Russia, though its 10% stake in a liquefied natural gas (LNG) project in the Russian Arctic is proceeding normally, Chairman Wang Dongjin said on Wednesday.Wang had been asked if…

China Taps Alternative Payments to Keep Russian Oil Flowing

Mar 04, 2022

Chinese refiners are paying for Russian crude oil using cash transfers to maintain imports from Russia’s Fast East, as banks shy away from financing the oil because of sanctions, sources with knowledge of the matter said.Global oil prices have…

Russian Annual Oil Output Recovers in 2021 after Slump

Jan 03, 2022

Russia's annual oil production rose by more than 2% last year thanks to the easing of output cuts by the OPEC+ group of leading oil producers after a pandemic-induced decline in 2020, data showed on Sunday.Russian oil and gas condensate output rose to 10…

Fire at Rosneft's Far East Refinery Contained

Dec 22, 2020

A fire at a secondary unit at an oil refinery owned by Rosneft in Russia's far eastern city of Komsomolsk-on-Amur has been contained, a spokesman for the refinery said on Tuesday.The blaze has not caused any injuries and the incident would not have an impact on production plans…

Russia: Equinor Boosts Onshore Presence, Exits Sea of Okhotsk Acreage

Dec 11, 2020

Norwegian oil and gas firm Equinor has increased its presence in the Russian onshore oil and gas assets, and has pulled out from offshore commitments in the Sea of Okhotsk on the Russian Far East.In an agreement with the Russian oil company Rosneft…

Russia, Saudi Arabia Discuss Volatile Oil Market

Oct 19, 2020

The world's two largest oil exporters, Russia and Saudi Arabia, are in talks on how to support volatile oil markets, the Kremlin said on Monday as rising coronavirus infections worldwide curb fuel demand.An OPEC+ ministerial monitoring committee…

Schottel Thrusters for Russia-bound Ice-Breaking W2W Vessel

Sep 24, 2020

Dutch shipbuilder Royal Niestern Sander has ordered Schottel thrusters for what has been described as the world's first shallow-draught ice-breaking walk-to-work vessel, targeted for operation at the Russian Far East.Under the order from a joint…

GC Rieber's Ice-Breaker to Stay in Sakhalin with Exxon for Three More Years

Sep 17, 2020

Norwegian offshore and shipping firm GC Rieber Shipping has secured a two-year contract extension for the icebreaker Polar Pevek with Exxon Neftegas at the Russian Far East.The vessel is operating off Sakhalin Island, in far-east Russia. It…

Sakhalin Energy Extends Charter for Polar Piltun Crew Boat

Sep 14, 2020

Russian energy company Sakhalin Energy has extended the charter for the Polar Piltun crew boat with a GC Rieber Shipping Russian affiliate.As previously reported, GC Rieber in January said that Sakhalin Energy had awarded it contract extension…

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