The Kremlin’s oil revenues in November fell from a year earlier for a second consecutive month, spurred by lower prices for the nation’s crude.
Russia halted supply to Vienna-based energy company OMV over contractual dispute in mid-November, but overall gas exports to Austria have remained stable as other companies have stepped up their purchases.
U.S. businessman Stephen P. Lynch, who has lived in Russia for two decades and has done business there, has sought a U.S. license to try to buy Nord Stream 2, The Wall Street Journal reported last week
Kazakhstan is considering the construction of a new gas pipeline to transport gas from Russia to China through its territory. This potential project will be pursued if Moscow and Beijing reach an agreement on the matter. “The issue of a new gas pipeline from Russia to China is within the competence of these two countries. If they agree, Kazakhstan is […]
The current five-year gas transit deal between Russia and Ukraine expires on Dec. 31 and Kyiv has repeatedly said it would not engage in talks with Moscow over an agreement extension.
“These Russian attacks on Ukrainian life can be stopped,” he said. “With pressure, sanctions, blocking the occupiers’ access to the components they use to create the tools of this terror, arms packages for Ukraine, and a resolve that must be unwavering.”
In the four weeks to November 17, Russian crude oil exports by sea dipped to 3.28 million barrels per day (bpd), down by 150,000 bpd compared to the previous four-week average to November 10, according to the data reported by Bloomberg’s Julian Lee.
The revenues from oil for the state were also impacted by the government subsidy paid to local refiners.
The ruling by a Finnish court came after Russia failed to pay €4.6bn in compensation to the Naftogaz Group following its occupation of Crimea in 2014.
Russia should use its existing competitive advantages in the form of oil and gas and not succumb to the well-intentioned green agenda. Vyacheslav Volodin, Chairman of the State Duma, made such an appeal, as quoted by Interfax.