Russia halted gas supplies to Austria’s OMV (OMVV.VI), opens new tab in mid-November amid a contractual dispute and legal wranglings related to interrupted gas supplies in 2022.
Despite the stoppage, overall Russian gas exports via Ukraine, which account for just under half of Moscow’s total gas flows to the continent, have remained stable as other buyers stepped in.
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.
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.”
State controlled MOL becomes first European company to follow Ukraine’s recommendation to start buying Russian crude on Ukraine’s eastern borders, relieving the country from direct transit deals with Russian suppliers
Energy trader’s earnings mean another year of large payouts for senior partners
SLB, the world’s largest oil services and equipment provider, last year rejected calls from human rights groups to withdraw from Russia as Western rivals exited quickly after the invasion of Ukraine.
Benchmark Brent averaged around US$80 a barrel this year, after a volatile 2022 in which prices surged above US$100 after Russian supplies were disrupted following the Ukraine war
When we talk of the Israeli-Palestinian conflict, we tend to focus on the latter’s political, social and humanitarian dimensions. But often this comes at the expense of considering an important economic dimension — one which recent events in Gaza have brought into stark relief.
In the first nine months of 2023, revenues have been depleted in large part as a result of Western sanctions.