Free Top Stories
US pulls waivers on civilian nuclear cooperation with Iran
Move means Washington has scrapped last remnants of 2015 nuclear deal that it was tolerating. Tehran says move is “desperate” and designed to distract from the failure of the Trump administration’s policy on the Islamic Republic.
For first time Turkey’s LNG imports outstrip pipeline gas imports
Gas delivered via pipelines from Russia and Iran down 72% y/y and 33% y/y in March. US expanding shipments of liquefied natural gas amid glut as spot prices fall.
Polish and Baltic states’ power grid operators ask EU for €1.2bn to fund syncing of their energy systems
Romania to break nuke plant expansion agreement with Chinese partner
State-controlled nuclear energy producer Nuclearelectrica will begin talks to terminate the agreement signed with China's CGN on the construction of two new reactors at the Cernavoda.
NRG: Signs of cautious optimism
Producers and investors remain cautious, as the coronavirus pandemic continues to affect energy demand, but are starting to plan for the post-crisis period.
No intervention from US as Iranian fuel relief tanker docks in Venezuela
Venezuelan state TV airs pictures of officials celebrating arrival. Four more tankers still en route. Trump official slams “Maduro's expensive deals with another pariah state".
Russia’s leading petrochemical company Sibur raises $208mn with bonds issue at record low yields
Russia’s leading petrochemical producer Sibur Holding successfully closed the order book for its BO-01 and BO-02 exchange-traded bond issues, worth RUB10bn ($139mn) and RUB5bn ($69mn) respectively, the company announced on May 21.
US ire on horizon as Venezuelan navy told to escort Iranian tankers bringing fuel relief
White House officials loathe to see one Trump-sanctioned nation coming to the assistance of another, especially in a presidential election year.
Borealis pulls out of $6.8bn plan to build petrochemical plant in Kazakhstan
Austrian company cites COVID-19 uncertainties. Move is a blow to Kazakh plans to use vast gas reserves to make more value-added products. Nur-Sultan already struggling with oil price crisis.
Gazprom starts designing $20bn gas pipeline to China
Russia’s Gazprom is pushing ahead with plans to build a second major gas pipeline to China.
NRG: A slow and painful recovery
The market may be showing early signs of a recovery, but for many oil and gas companies, the worst is still to come
TEHRAN BLOG: Trump frets as Iranian fuel tanker steams to Venezuela
Maduro said to be paying Tehran in bars of gold for gasoline to relieve acute shortages. US president—needing a foreign policy victory such as the dislodging of the strongman ahead of his re-election bid—is reportedly considering his options.
ZapSib cushions the blow of the coronavirus crisis to Sibur’s 1Q20 results
Leading Russian petrochemical company Sibur's revenues were down 7.8% year on year due to falling prices in ruble terms caused by the current economic crisis, but the newly completed ZapSib facility has cushioned the blow.
INTERVIEW: Bakhtiyor Fazilov, major shareholder in Uzbek drilling company ERIELL Group and Enter Engineering
ERIELL also one of three major independent drilling companies in Russia. Well construction and overhaul services provided to top oil and gas companies. Enter Engineering has important role in Uzbekistan’s COVID-19 response.
Poland signs contract with Italy’s Saipem to lay Baltic Pipe
The €2.1bn Baltic Pipe will carry gas from the Norwegian Sea via Denmark to Poland, starting in 2022. Poland needs the pipeline to reduce its dependence on Russian gas imports.
Mongolia scraps $3bn IPO for shares in flagship coal mine
Decision made amid pandemic disruption to financial markets and with one eye on vote-shifting distrust of foreign investors ahead of elections.
Turkey’s electricity producers assess April collapse in demand at 20%
Producers association expects power spot price to dive 40% in pandemic-hit April and 15% in 2020. Even operational profitability tough to sustain. Opposition says government policy encourages building of plants country does not need.
Azerbaijan ‘forced to tell BP to cut oil production sharply’
Extent of OPEC+ output restrictions drawn up to tackle price crisis leaves Baku with little choice but to include energy major in reductions.
MOSCOW BLOG: Russia caught out by oil plunge
Did Russian President Vladimir Putin just screw up in a spectacular fashion? Russia pulled out of the OPEC+ production cut deal on March 6, setting off a downward spiralling of prices that ran out of control
UPDATED: Oil prices fall to less than zero for the first time in history
Oil prices fell to less than zero for the first time in history as producers ran out of places to store crude on April 20.
Follow us online