FSUOGM - Former Soviet Union Oil & Gas
Europe proposes to ban all Russian oil imports by the end of the year
The EU will sanction all Russian oil imports, both crude and refined and both oil delivered by ship and pipeline, but the ban will be “phased in in an orderly way,” EU President Ursula von der Leyen told the European Parliament on May 4.
Brussels proposes full ban on Russian oil
In proposals for its sixth sanctions package, the European Commission will suggest a total ban on all Russian oil in addition to removing Russian broadcasters from the airwaves and disconnecting Russia's largest bank from SWIFT.
FSUOGM: Aliyev says TAP pipeline will reach full capacity in 2022
Ilham Aliyev, President of Azerbaijan, said on April 29 that the Trans Adriatic Pipeline (TAP) was on track to reach its full capacity of 10bn cubic metres per year in 2022, up from 8.2 bcm in 2021.
India seen increasingly pivoting to Russia
India appears to be increasingly turning to Russia to procure oil, even as other countries step up sanctions against Moscow.
The likely impact of EU sanctions on Russian oil imports
The EU is mulling proposals for introducing a formal embargo on Russian oil imports, and Russia is already well-versed in embargo evasion techniques.
Gazprom reports production down 2.5%, non-CIS exports down 26.9% y/y in 4M-2022
Gazprom, Russia’s state-controlled natural gas giant, said on Sunday, May 1 that its production had dropped slightly in the first four months of 2022, while exports sank significantly during the same period.
BP attributes record quarterly loss to Russia exit
UK-listed super-major BP has posted a record loss of $20.4bn for the first quarter of 2022.
OPEC+ unlikely to alter its course
Hungary 'to continue to oppose EU sanctions on Russian oil'
Zoltan Kovacs, Hungary’s State Secretary for International Communications, says Budapest remains opposed to proposals to ban the import of Russian crude oil and natural gas into the EU.
Bank reportedly bars Litasco from trading oil derivatives
Geneva-based Litasco, the trading arm of Russia’s largest privately owned crude producer Lukoil, has reportedly lost much of its access to global oil derivatives markets.
Aliyev: TAP pipeline to reach full capacity in 2022, could double later
Ilham Aliyev, the president of Azerbaijan, said on Friday, April 29 that the Trans Adriatic Pipeline (TAP) was on track to reach full capacity this year and would deliver 10bn cubic metres of natural gas to Italy.
OMV ready to pay for Russian gas in rubles
The energy war with Russia escalates as Europe searches for ways to cut off Russian oil imports
Can Europe cut off supplies of Russian oil? If it does, how can it replace imports of Russian crude? Can Russia switch and sell its oil to other markets such as in Asia? Is there enough demand in new markets to absorb all the Russian oil?
Russia to stop gas supplies to Poland
Poland has already said it can go independent of Russian gas before the end of the year once the Baltic Pipe becomes operational.
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