Russia & CIS
Putin Arrives in Mongolia, a Key Link in Russia's Planned Gas Pipeline to China
The Kremlin said on Monday that Russian President Vladimir Putin had arrived for a state visit in Mongolia, which lies on the route of a planned new gas pipeline connecting Russia and China.
OPEC+ Set to Move Forward with October Output Hike Despite Demand Woes, Sources Say
OPEC+ is set to proceed with a planned oil output hike from October, as Libyan outages and pledged cuts by some members to compensate for overproduction counter the impact of sluggish demand, six sources from the producer group told Reuters.
Russia Defies Sanctions, Moves Forward with Arctic LNG 2 Project: LSEG Data
Russia's largest LNG producer Novatek appears to be preparing a floating storage unit to receive gas as part of its Arctic LNG 2 project, in defiance of sanctions, LSEG ship-tracking data showed on Friday.
Russia's Tatneft Increases Oil Exports to Slovakia, Hungary Amid Lukoil Sanctions
Russian companies, mainly Tatneft, have boosted oil exports to Slovakia and Hungary to replace supplies lost after Ukraine sanctions halted exports from Moscow-based Lukoil, Kommersant newspaper said on Thursday.
U.S. Sanctions Hit Key Entities in Russia’s Arctic LNG 2 Project
The Arctic LNG 2 project by Russia's Novatek is subject to Western sanctions over Russia's conflict with Ukraine. The project had been due to become Russia's largest LNG plant with eventual output of 19.8 million metric tons per year of LNG from three trains.
Morgan Stanley Cuts 2024 Oil Demand Forecast on China's LNG Truck Growth, Economic Slowdown
Morgan Stanley has lowered its global oil demand growth forecast for 2024, mainly due to China's slower economic growth, increased electric vehicle usage there, and a rise in the number of trucks in China powered by LNG.
Global News August 2024
Latest industry developments from around the world!
Hungary's MOL Nears Final Agreement for Russian Oil Transport Amid Kyiv Ban
Hungary's MOL is in the final stages of talks to set up a scheme to ensure crude oil flows from Russia after Kyiv banned its main partner Lukoil's transport through its pipelines, a Hungarian government official said on Thursday.
Russia's Novatek Postpones Arctic LNG 2 Third Line to 2028
Russian natural gas company Novatek has postponed the start of operations at the third line of the Arctic LNG 2 project to 2028 from 2026, RBC media reported on Thursday.
U.S. Oil Export Growth Slows as Output and Global Demand Wane
U.S. crude oil export gains should plateau in 2024 after years of strong growth, with domestic output expected to increase by the smallest amount since the pandemic at a time when global oil demand remains sluggish.
Fuel Pipeline Explosion at Russian Petrochemical Plant Injures Three
A blast and fire on a fuel pipeline at the Sterlitamak petrochemical plant in Russia's Bashkiria region east of Moscow injured three people, local authorities said on Monday.
Germany Issues Arrest Warrant for Ukrainian in Nord Stream Pipeline Attack, But Suspect Has Fled, Officials Say
Poland received a European arrest warrant issued by Berlin in connection with the 2022 attack on Nord Stream pipelines, but the suspect, a Ukrainian man named as Volodymyr Z, has already left Poland, Polish prosecutors told Reuters.
Russian Court Freezes $1.2 Billion in Linde UK Assets Over Gas Processing Dispute
A Russian court has ordered that assets worth around $1.15 billion of a British subsidiary of German industrial gases company Linde be frozen in a dispute over a gas processing plant, court filings showed on Wednesday.
End of an Era? Russian Gas Flow to Europe via Ukraine in Question
Russia continues to supply gas to Europe through Ukraine, despite the war and shifting energy dynamics. With the transit deal ending in 2024, the future of these gas flows remains uncertain.
Gazprom's Gas Transit Through Ukraine Continues Amid Reported Clashes Near Sudzha
The Ukrainian transit operator said on Wednesday that Russian natural gas continued to transit Ukraine as normal despite reports of clashes near the Russian town of Sudzha where Russian gas flows into Ukraine.
Ukraine Pierces Russian Border Near Major Gas Transmission Hub
Russia said on Wednesday that it was fighting intense battles against Ukrainian forces which had penetrated the Kursk region near a major natural gas transmission hub in one of the largest incursions into Russia since the war began in February 2022.
Hungary's MOL CEO Sees No Need to Wean Off Russian Oil
The head of Hungarian oil and gas giant MOL has said he sees no advantage in Hungary weaning itself off Russian oil supplies and dismissed warnings of fuel shortages in the country as "politics".
U.S. Dominates Global Natural Gas Production and LNG Exports
The U.S. has reinforced its position as the leading global producer of natural gas and LNG exporter, with notable increases in LNG supply and significant reductions in European and Russian gas imports.
Russian Pipeline Gas Exports to Europe Reach Highest This Year
Russian energy giant Gazprom's average daily natural gas supplies to Europe in July reached their highest this year, up 5.7% compared with a year ago and 12% higher than in June, Reuters calculations showed.
Lukoil Increases Seaborne Oil Exports as Druzhba Pipeline Suspended
Lukoil, Russia's largest private oil company, has ramped up oil exports via the country's sea ports as its supplies via the Druzhba pipeline route to Europe are currently suspended.
Mid-Year Global Forecast: Midstream Responding to Demand from LNG Projects
Global pipeline construction surged to nearly 42,000 miles in mid-2024, driven by increased LNG and hydrogen infrastructure needs, with significant expansions in North America and Europe.
Global News July 2024
Latest industry developments from around the world!
Drilling Rig Arrives at Russia's Sakhalin, Supporting Potential Gas Pipeline to China
A semisubmersible drilling rig called Polar Lights is due to arrive at the Russian Pacific island of Sakhalin on Saturday to drill a well at a field hit by U.S. sanctions, the Russian agency for sea and river transport said.
Ukraine Halts Lukoil's Russian Oil Transit, Slovakia and Hungary Affected
The move highlights the volatile nature of the remaining Russian oil supplies to Europe via the Soviet-built Druzhba pipeline, the last major functioning Russian oil supply route to the continent.
Iran to Receive 300 Million Cubic Meters of Russian Gas Daily: Oil Minister
Iran will receive 300 million cubic meters of Russian gas daily, the official IRNA news agency reported Iran's oil minister Javad Owji as saying on Wednesday.
Bulgaria Initiates Arbitration Against Gazprom Over Gas Contract Breach
Bulgarian state gas company Bulgargaz EAD has started arbitration proceedings against Russia's Gazprom Eksport OOO, seeking compensation of $432.76 million for breach of contract in 2022, the company said on Tuesday.
Gas Pipeline Accident Sparks Fire in Crimea, Disrupting Supplies to Alushta, Officials Say
A fire broke out late Saturday after an accident at a gas pipeline near the village of Vinogradnoye in Moscow-annexed Crimea, cutting gas to the resort town of Alushta and more than a dozen settlements, Russian officials said.
Report: LNG Market Equilibrium Fragile Due to Supply Issues
The global LNG market remains tight despite lower prices and a 2.1% growth in 2023, reaching over 401 million tonnes, according to the International Gas Union's (IGU) 2024 World LNG Report.
Rosneft Names New Head for Vostok Oil Project
Russia's Rosneft has appointed a new head of its flagship Vostok Oil project that is expected to produce up to 2 million barrels per day by 2030, mostly for export to Asia.
Russia to Begin Exporting 10 Bcm of Gas Annually to China from Far East in 2027
Russia's Gazprom will start annual pipeline gas exports to China of 10 billion cubic meters (Bcm) in 2027, its boss Alexei Miller told an annual shareholders' meeting on Friday.
- Williams' $1 Billion Gas Pipeline Blocked by U.S. Appeals Court, Derailing Five-State Project
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- Williams Begins Louisiana Pipeline Construction Despite Ongoing Legal Dispute with Energy Transfer
- U.S. Buys Nearly 5 Million Barrels of Oil for Emergency Stockpile
- U.S. Appeals Court Strikes Down Controversial Biden Pipeline Safety Rules
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
- Exxon Mobil to Start Gas Reserve Seismic Surveys in Greece
- LaPorte, Texas, Issues Shelter in Place After Altivia Plant Leaks Toxic Gas
- Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
- Second Gas Pipeline Rupture in Texas’ Reeves County Raises Environmental Concerns
