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Gas flows in Nord Stream 1 at 20% are insufficient to fill gas storage ahead of winter
Gazprom’s announcement that it was cutting gas flows in the Nord Stream 1 pipeline to 20% of capacity on July 25 means the EU will miss its deadline to fill storage tanks to 80% full by October 1.
Naftogaz fails to change terms of eurobonds
Naftogaz, Ukraine’s largest state-run oil and gas company, has failed to convince Kondor Finance to agree to change the credit terms of its eurobonds.
Gazprom to cut Nord Stream 1 flows again to only 20% of capacity
Russian natural gas flow via the Nord Stream pipeline to Europe will be restricted further to only just above 20% of its capacity from the morning of July 27, Gazprom said on its Telegram channel on July 25, prompting a spike in European gas prices.
Hungarian foreign minister in Moscow to secure additional gas deliveries
Peter Szijjarto visited Moscow with a government mandate to buy an additional 700mcm of gas from Russia in addition to the 4.5bcm under a long-term agreement with Gazprom.
Nord Stream back up and running, but flow remains low
Russia’s Nord Stream 1 pipeline has finished its annual maintenance period on time and is now back in operation, triggering a modest drop in gas prices. But like before the downtime, the pipeline is running at well under its full capacity.
Kyrgyzstan heatwave spells power problems for Central Asia
Country’s main hydropower reservoir is being depleted rather than filled for the winter ahead.
LatAmOil: South American fuel imports rise as asphalt shipments drop
The volume of refined petroleum products delivered to Brazil and Argentina has been climbing this month, as South American fuel traders seek to cover seasonal increases in demand.
AfrOil: DRC raises number of blocks in licensing round to 30
The Democratic Republic of Congo (DRC) has increased the number of blocks included in an upcoming licensing round from 16 to 30, Minister of Hydrocarbons Didier Budimbu announced on July 18.
NorthAmOil: Halliburton posts improved results
REM: TVA seeks 5 GW of renewable energy
The Tennessee Valley Authority (TVA), the US’ largest utility, has issued a request for up to 5 GW of carbon-free energy that must be operational before 2029, one of the largest clean energy procurement requests in the nation.
GLNG: Bulgaria's Overgas signs MoU for US LNG
EurOil: Uniper seeks $2bn boost in credit line
MEOG: Iran signs $40bn Gazprom deal
DMEA: Additions awaited amid refining shortfall
AsianOil: CNOOC launches self-developed Christmas tree system, unveils bidding round
China National Offshore Oil Corp. (CNOOC) has launched its first self-developed subsea Christmas tree system in the Bohai Sea. The company said in a separate announcement that it was offering 13 offshore oil and gas blocks up for bidding in 2022.
Kremlin reminds Nur-Sultan who’s boss over Kazakh oil exports
And there’s not much the Kazakhs can do about it.
EU draws up gas reduction plans on fears of a Russian gas embargo
The European Commission has drawn up a plan detailing a rationing mechanism and rules to pass price increases on to consumers that can be imposed should Russia cut Europe off from gas deliveries.
Russian gas cut-off could see some European countries' growth fall by 6%, says IMF
If Russia cuts off its gas deliveries to Europe then the most exposed countries could see their economies contract by up to 6%, the International Monetary Fund said in its blog on July 19.
Putin finds a sympathetic ear in Tehran
Russian leader meets with Iranian and Turkish presidents during rare trip abroad. Analysts watching for any outcomes that could boost Kremlin amid its war in Ukraine.
Russian business is turning to new markets – Europe must do the same
Russian companies have been nimble in re-directing trade flows from Europe towards developing countries. If Europe plans to continue giving Russia the cold shoulder, European companies must also learn to look elsewhere to cover the trade shortfall.
ENERGO: Ukraine syncs its power grid with Europe’s
AfrElec: Egypt’s Infinity and AFC agree to buy Lekela Power from Actis-led joint venture
IEA chief warns Europe its gas efforts won’t be enough even as Brussels inks deal with Azerbaijan
Immediate efforts to cut demand vital, says Fatih Birol, as prospect of EU running out of gas reserves in winter looms.
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