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What is the outlook for Russian oil output this year?

19 July 2023

OPEC maintained its forecast for Russian oil production this year at 10.28mn barrels per day in its latest monthly report, despite the government’s recently announced plan to curtail exports by 500,000 bpd in August.

Lukoil, KMG well in Kazakh Caspian Sea turns up dry, project disbanded

19 July 2023

Russia’s Lukoil and Kazakhstan’s Kazmunaygas (KMG) have disbanded a joint venture to explore the Zhenis block in the Kazakh Caspian Sea, in a further disappointment for Astana’s efforts to spur offshore hydrocarbon development.

Kazakhstan transits four times more Russian oil to Uzbekistan

19 July 2023

Uzbekistan has started significantly increasing imports of Russian oil through Kazakh pipelines after a long three-year hiatus, Kazakh oil pipeline operator KazTransOil (KTO) has said.

Poland tables coal assets spin-off offer to key utilities

18 July 2023

PGE, Tauron, Enea, and Energa received offers from the Ministry of State Assets for the spinoff of their coal-fired generation assets to a new state-owned vehicle.

EU claims of New Delhi acting as a Russian middleman shrugged off in India

13 July 2023

EU officials say bloc needs to crack down on what is essentially the reprocessing and selling on of sanctioned Russian crude oil by New Delhi.

Drought threatens this year’s French grain harvest that will fuel global food inflation

13 July 2023

France, the largest wheat exporter in the European Union, is facing the threat of a reduced agricultural output this year due to low rainfall and the risk of drought. The impact of a poor French harvest will ripple out across the world.

World sees record heat waves

13 July 2023

According to preliminary data from the World Meteorological Organization (WMO), the world has just experienced the hottest week on record (average July 3-9), reports Statista.