Scholz Welcomes Qatar LNG Deal as 'Building Block' for German Energy Security
In Berlin's pursuit for new energy partnerships away from Russia, QatarEnergy and ConocoPhillips will export 2 million tonnes per annum of LNG to Germany for at least 15 years starting 2026 through two sales and purchase agreements.
China’s Xi Looks to Strengthen Energy Ties with Russia
In response to a G7 proposal to cap Russian oil prices, the Kremlin has promised to re-route supplies to countries that do not support the idea, with both China and India increasing oil purchases from Moscow.
Russia has Lost Europe as Its Largest Energy Client ‘Forever,’ IEA’s Birol Says
When asked about the impact of the EU measures, IEA’s Fatih Birol said: “We expect towards the end of the first quarter 2023 that there may be a loss of 2 million barrels per day of Russian oil and there is a need to replace that oil.”
EU Fails to Agree on Russian Oil Price Cap, Say Diplomats
The Group of Seven (G7) nations has proposed a softer version of the EU ban to keep oil supply to the global economy steady, because Russia supplies 10% of the world’s oil.
Tanker Hit Off Oman, Says Israeli-Controlled Shipping Firm
Three maritime sources told Reuters that a drone was suspected to have attacked the oil tanker. An Israeli official said Iran was responsible for the attack, using a Shahed-136 drone, the type it has been supplying to Russia for use in Ukraine.
Suspected Drone Hits Oil Depot in Russia’s Oryol, Officials Say
Unverified images on social media showed what appeared to be a single rupture on the side of an oil storage tank in the Russian region of Oryol, blackened by soot.
Oil Prices Settle Higher on Druzhba Oil Pipeline Disruption
Russia’s state-owned pipeline monopoly Transneft has been notified by Ukraine of the pipeline disruption, the RIA news agency quoted Transneft as saying on Nov. 15.
Russian Oil Output to Fall Next Year as EU Ban Takes Effect: IEA
“The approaching EU embargoes on Russian crude and oil product imports and a ban on maritime services will add further pressure on global oil balances, and, in particular, on already exceptionally tight diesel markets,” the IEA said.
India Can Buy as Much Russian Oil as It Wants, Yellen Says
“Russia is going to find it very difficult to continue shipping as much oil as they have done when the EU stops buying Russian oil,” Yellen said. “They’re going to be heavily in search of buyers. And many buyers are reliant on Western services.”
Global Recession a Bigger Risk to Russia’s Oil Revenue Than Price Cap: Column
"If there is a global economic slowdown in 2023, Russia’s export revenues could fall by between a third and a half, based on experience over the last two decades," columnist John Kemp shared.