Energy Complex News

The Kremlin said on Tuesday that Russia was acting in its own interests when asked about a probe by the United States into alleged violations of Western oil sanctions on Moscow.Kremlin spokesman Dmitry Peskov also told a daily conference call with reporters that President Vladimir Putin would hold a meeting on the fuel and energy complex later on Tuesday.The U.S.

Asian spot liquefied natural gas (LNG) prices have weakened for the fifth consecutive week on muted demand due to healthy stocks, remaining at their lowest level in two years.The average LNG price for July delivery into north-east Asia was down 3% from the previous week at $9.50 per million British thermal units (mmBtu), the lowest since early May 2021, industry sources estimated."North Asia remains largely void of demand. Prices have continued to walk down week-on-week and support hasn't been helped by Japanese utilities selling into an already weak market…

The path to decarbonization is defined by partnership and fueled by government funding. This month we examine the players, partnerships, and evolution of Hydrogen Hubs in the Gulf of Mexico.The Green Shipping Challenge, organized by the United States and Norway at COP 27 held in late 2022, brought about dozens of announcements on maritime decarbonization. Among these was a joint statement from the Blue Sky Maritime Coalition (BSMC) – a consortium of North American shipowners and…

Royal Dutch Shell on Monday began evacuating staff from a U.S. Gulf of Mexico oil platform, and other energy companies began preparing for hurricane-force winds from a second Gulf Coast storm in as many weeks.Tropical Storm Nicholas was about 105 miles (115 km) south of Port O'Connor, Texas, and moving north with winds of 60 miles per hour (97 kph). It could become a hurricane just ahead of landfall on Monday, according to the National Hurricane Center.Waves stirred up by Nicholas neared 12 feet (3.7 m) in height were reported outside of Port Aransas…

Maersk's Svitzer, a maritime towage provider, has recently signed a 10-year deal with FGEN LNG, a First Gen subsidiary, for towage and other vessel support services required by FGEN LNG’s Offshore LNG Terminal in the Philippines.The LNG Terminal project will feature a leased Floating Storage and Regasification Unit (FSRU) that will be located at the First Gen Clean Energy Complex in Batangas City in the Philippines.BW Group in April secured a 5-year contract with FGEN LNG for the charter of BW Paris…

Oil prices edged higher on Thursday as investors focused on the possibility of deeper supply cuts from the world's biggest producers, whilst largely shrugging off reports which cut demand forecasts after the coronavirus outbreak in China, the biggest oil importer.Brent crude was up 32 cents, or 0.6%, at $56.11 a barrel by 10:52 a.m. ET (1552 GMT), while U.S. West Texas Intermediate (WTI) was up 14 cents at $51.31 a barrel.The energy complex was led higher by U.S. gasoline futures…

U.S. crude oil stocks unexpectedly rose last week, while gasoline and distillate product inventories dropped, the U.S. Energy Information Administration said on Thursday. Crude inventories were up 614,000 barrels in the week to Dec. 23, compared with expectations for a decrease of 2.1 million barrels. Oil prices were little changed on the news after a bit of volatility immediately following the release. U.S. crude oil futures were up 1 cent to $54.08 a barrel at 11:38 a.m. EST (1638 GMT), leaving the benchmark just shy of the year high of $54.51 reached on Dec. 12. "What seems to be giving this report kind of a bullish tilt is the fact that we saw pretty a good drawdown in both gasoline and distillate inventories," said Phil Flynn, trader at Price Futures Group in Chicago.

Against the backdrop of a sharp drop in oil prices sharply increased their exports, Russia has set a new record for oil production in 2015. This is a new record for oil production (including gas condensate) - 534 081 000 tons, which is 1.4% higher than in 2014, reports "Interfax" referring to the data of the Central Supervisory Control fuel and energy complex. The leader was the company "Bashneft". Others are "Gazprom Neft", "Surgutneftegaz" and reduced "Rosneft", "Lukoil" and "Slavneft". According to the Ministry of Finance, in 2015, oil companies have earned on the devaluation of about 400 billion rubles, according to forecasts, in 2016 this figure fell to 300 billion rubles.

On 15th of June, 2014 Rosneft President, Chairman of the Management Board Igor Sechin held talks with CEO of DSME Jae-ho Ko on establishment of a shipbuilding cluster. The event was also participated by Chairman of the Management Board of OJSC Gazprombank Andrey Akimov, President and Chief Executive Officer of Sovcomflot Sergey Frank, President of JSC United Shipbuilding Corporation Alexey Rakhmanov and Chairman of the Management Committee of NOVATEK Leonid Mikhelson. The parties discussed the progress of the project on establishment of a shipbuilding cluster in the Far East of Russia implementation. In particular, the proposal of Rosneft to form a single site for all shipbuilding contracts of Russian customers on the basis of OJSC Far Eastern Center of Shipbuilding.

Rosneft and BP signed an agreement on Saturday to jointly explore for hard-to-recover oil in Russia, the first major deal for the state-run Russian oil company since the West imposed sanctions over Ukraine in March. Rosneft chief executive Igor Sechin, a close ally of President Vladimir Putin, has been targeted by U.S. sanctions along with some other members of Putin's so-called inner circle following Russia's annexation of Crimea from Ukraine in March. Western energy bosses saved the St Petersburg International Economic forum from a complete failure by effectively standing by Russia as heads of top banks and many other firms did not show up for fear of reprisals over the sanctions.

Medvedev has proposed toughening punishment for illegal entry to fuel and energy complex facilities, reports Arctic info (Russia). This initiative was proposed by the head of government at a recent meeting on problems of land use and thetransportation of hydrocarbons in the Caspian Sea. Commenting on the recent arrest of Greenpeace activists protesting against oil production in the Arctic at the Prirazlomnaya platform, the Russian Prime Minister noted that such actions cannot be justified, even when the rationale is care for the environment.