Germany Considering Repurposing Unused Nord Stream 2 Pipeline for LNG Use: Report
The German economy ministry is considering expropriating the German portion of the Nord Stream 2 pipeline system, built by Russian gas giant Gazprom, and cutting it off from the rest of the pipeline.
Schlumberger Sees Global Oil Exploration and Production Accelerating
Schlumberger's Olivier Le Peuch predicted that global oil exploration and production will increase rapidly since oil prices have risen to their highest level in years due to sanctions on Russian energy.
Europe Edges Out Asia as Top Destination for US LNG
More than half of U.S. LNG exports went to Europe in April as the continent continued to replace its gas supply from Russia. Top destinations included France, Spain, the U.K. and the Netherlands with Poland surpassing South Korea.
With Record Pump prices, Biden Hard-pressed to Ramp Up Russia Sanctions
Russia, for example, could retaliate by holding oil from the market. That could immediately drive prices higher as the world’s oil producers have very little spare capacity after years of underinvestment in oil fields and refineries.
Nord Stream Gas Supply Cut Aimed at Sowing Uncertainty, Germany Warns
Uniper, Germany’s biggest importer of Russian gas, said deliveries from Russia were down a quarter from agreed-upon volumes.
Russian Oil, Fuel Revenue Up Even as Exports Fall: IEA
Despite its ban, the EU remained the main destination for Russian oil exports last month, making up 43% of Russian flows followed by just over a quarter to China.
US Allows Some Russian Energy-related Transactions Until December
The U.S. has banned imports of Russian fossil fuels but Washington has allowed bank transactions on Russian oil and gas sent to European countries to continue.
Russia's Energy Revenue Higher Now than Before War, US Official Says
“I can’t deny that,” U.S. energy security envoy Amos Hochstein told the Senate Subcommittee in response to a question about whether Moscow was making more money now off its crude oil and gas sales.
Russia Hikes Oil Exports from Major Eastern Port to Help Offset EU Ban
Russia's pipeline monopoly Transneft has already increased the amount of crude pumped to Kozmino on its main Asian oil route, the East Siberia Pacific Ocean pipeline, sources said.
Russian War Boosts US Midstream
Depleted natural gas inventories and market uncertainty across Europe make U.S. LNG a hot commodity as several countries begin to hedge bets on Russian gas.