Europe

According to LSEG and industry sources, Russia imported 460,000 metric tonnes of motor 'fuels via its ports in August as it struggled with oil product shortages in a number of regions after Ukrainian drone 'attacks on key refineries. In the last two weeks, drones have struck and stopped operations at several refineries. These include plants in Perm and Nizhny Novgorod as well as Kirishi, Yaroslavl and Kirishi, which are all major producers of motor gasoline. Alexander Novak, Deputy Premier of Russia, said that the country had "begun to import fuel" in mid-August. He did not provide any information on the...

Overnight, Russia has attacked Ukraine's port infrastructure as well as a border crossing to Romania in the southern Black Sea region of Odesa. The Ukrainian president Volodymyr Zelenskiy stated that the strike "deliberately destroyed a border crossing on the border with Romania as well as export equipment." Ukraine's emergency services said that the attack also targeted energy infrastructure and caused a fire in a residential building where one person was injured, without giving any further details. Russia has increased the number of drone strikes and the intensity of those strikes in recent months on the export infrastructure of the Odesa...

A shipper reported on Monday that the queue of vessels waiting to enter?the?Danube to reach Ukraine's river ports?has increased to around 80 in the last five days. However, the number allowed to pass through the route has also been increasing. Russian attacks on Ukraine have effectively blocked the main Black Sea ports that handled 90% of Ukraine's grain exports. Kyiv has been forced to divert cargo via Danube river -ports which have far less capacity. Last week, shipping agencies reported an increasing backlog at Sulina Canal's entrance. This is the only Danube canal deep enough to allow vessels to travel...

The European Union's?Aviation Safety Agency extended Monday its warning for airlines to avoid airspace over the waters of the Persian Gulf in Bahrain, Kuwait and Qatar, while reducing an earlier advisory which recommended avoiding all airspace within the four countries. The latest advisory comes just hours after U.S. and Iran resumed hostilities, the first since late July. EASA's newest advisory to the Persian Gulf nations stated that "while risks remain high over the waters of this region, operations necessary for arrivals or departures at aerodromes in the affected Flight Information Regions can be carried out with enough mitigation." The agency...

On 'Monday,'?state media reported that Russian investigators had dropped the murder charges against prominent businessman Ilya Traber. Traber is a 75-year-old businessman who has invested heavily in St Petersburg's ports and logistics. Russian media reported that he was arrested in June for the fatal shooting of Alexander Petrov in 2020. On?Monday, state-run agencies?TASS? and RIA?reported that all charges?against Traber?had been dropped and his investigation closed. TASS reported that he had been released from his pre-trial custody due to health reasons. The reports were not confirmed by any official sources. Traber rose to prominence after the fall of the Soviet Union...

APK-Inform, a consultancy, said that weekly exports of?wheat, corn, and?barley grew by 28% from?August 20 through?August 26 to 240.900 metric tons. The volume was 173,300 tonnes of wheat, 58.900 tons corn, 8,600 tons barley, and other grains. The Ukrainian grain exports have dropped sharply after Russian missile and drone attacks in the Black Sea region of Ukraine. APK-Inform data showed that early in July, when the ports?operated as usual, Ukraine exported approximately 760,000 tonnes?of grain each?week. APK-Inform didn't provide an explanation for the increase in exports last week, but did note that Ukraine increased grain shipments into its ports along...

According to traders and LSEG shipping data, oil exports from Russia’s Black Sea Port of Novorossiysk will halve from their July levels in 'August after Ukrainian drone strikes disrupted loadings at the Sheskharis Oil Terminal. Two traders have said that Novorossiysk's loadings are expected to drop below 350,000 barrels a day (bpd), from about 800,000 in July. Ukraine increased drone strikes against Russian energy infrastructure this year, including ports of export and pipelines. The aim is to reduce the revenue from oil exports. Sheskharis Terminal at Novorossiysk, Russia's principal crude export outlet along the Black Sea handles shipments of Urals...

Here are some of the main factors that could affect Swiss stocks on Friday: ?STATEMENTS OF COMPANY FLUGHAFEN?ZUERICH AGR Reports the first half-year EBITDA of CHF 374.2 millions. ADVAL TECH Holding AG The company reported a strong order intake. Edisun Power Europe Revenue for H1: CHF 5.57 million. JUNGFRAUBAHN HOLDING A G The company posted a profit for the first half of 'the year of CHF 28,9 million. ECONOMY Swiss August?KOF indicators due at 0700 GMT. Seen on 103.3. (Reporting by Zurich newsroom and Gdansk newsroom) |1|For Top News ?in a multimedia Web format on Eikon visit: ?https://bit.ly/2NDFd6g FOR RELATED...

Three traders reported that Caspian CPC blend oil exports were 'planned at 1.5m barrels per day for September. This is a steady decrease from the 1.6m bpd of?August due to maintenance?at?the Karachaganak Oilfield. Weather-related disruptions, and drone strikes in Black Sea could affect actual CPC Blend oil loads next month. About 2% of global oil is supplied by the CPC pipeline, which transports Kazakhstani crude to a terminal near the Black Sea port in Russia, Novorossiysk. Shipowners prefer the CPC terminal to the Novorossiysk Sheskharis Terminal, according to traders, following Ukraine's pledge to stop?strikes against non-Russian ships leaving Black Sea...

Traders and analysts said that up to 70 vessels were waiting for access to Ukrainian ports in order to load grain for export. This is due to the lack of pilots, and other cargoes being given priority. After Russian attacks blocked Ukraine's Black Sea port, which handled 90% of its grain exports before, some shipments have been rerouted to Danube riverports which have a much smaller capacity. Exports are slowed by the fact that grain cargoes compete for access to ports with other shipments of a higher priority, such as fuel. Air raid alerts that force all port operations to...

The 'company' said on Wednesday that the repair work at NKHP, a?of three grain export terminals in Russia's?Black Sea main port of Novorossiysk could take as long as?four months after a Ukrainian attack. In the past few months, attacks have stopped almost all grain exports through ports on the Black Sea and Sea of Azov. Previously, 70% of Russian grain exports were shipped via these ports. On August 12, Ukraine launched a massive drone strike on Novorossiysk that took out all three grain terminals. The third terminal, which belongs to Delo Group and is owned by Demetra, was not damaged...

Friedrich Merz, the German Chancellor, said that the German government will soon reveal who is responsible for an attempted drone attack on Leipzig/Halle Airport earlier this month. Merz, speaking at a summit of the coalition, said that his government "works closely with security authorities to this end, and will soon set out this issue?and make a comment about it." Local?media cite security sources that suspect Russian intelligence of involvement in the attempted attack. Berlin, however, has not made direct accusations. A drone with explosives was discovered on August 4 near an Antonov cargo plane used for military supplies. Investigators suspect...

Yuri Ushakov, Kremlin's foreign policy adviser, said that the Russian president?Vladimir Putin would meet with Chinese President Xi Jinping?on a side-line?of??the Shanghai Cooperation Organisation summit?? in Bishkek?, Kyrgyzstan?s capital. Ushakov stated that the leaders will discuss the?planned 2,600-km (1.616-miles) Power of Siberia?2 system, which is expected to transport 50 billion cubic meters (bcm),?of gas a year?to China via Mongolia?from the Arctic Gasfields. Power of Siberia 2 is stalled because of price disagreements, and the pipeline talks have been going on for many years. Putin will also meet with Turkish President Tayyip Erdoan, and he is expected to discuss with him...

Russian traders are transferring Urals crude to very large crude carriers for delivery to Asia via ship-to ships, according traders and LSEG data. This practice is being revived by the stronger Chinese demand, higher freight costs, and increased Russian trade. China is expected to increase its imports of Russian crude oil as the Middle East's conflict causes disruptions in regional supplies. Russia delivers crude oil to China through pipelines that connect its oilfields to Chinese refiners, and via the Pacific port of Kozmino. During the summer, volumes are also transported from Russia's western port via the Red Sea or the...

Ukrainian forces continue to strike at Russian energy infrastructure, as well as other sites. Kyiv claims that this is part of an effort to deny Russia resources for funding its military. The following is a list of recent attacks, starting with the latest. NORSI Ukrainian drones attacked NORSI this week, Russia's 4th largest oil refinery owned by Lukoil. The crude oil processing was suspended on August 26. NORSI is Russia's second largest gasoline producer. It can process?15,000,000 metric tons per year. NOVOSHAKHTINSK A drone from Ukraine damaged the Novoshakhtinsk oil refinery, located in southern Rostov Region of Russia. The governor...

Ukraine's grain sales have plummeted?this week after Russian attacks effectively shut down its Black Sea ports.?Rail and river routes are unable to compensate for the lost capacity. Ukrzaliznytsia, the state railway operator, said that grain exports have been reduced by 60% compared to the same period in August last year. It said that the volume consisted of 170,000 tons delivered to Ukraine's Danube port and 343,200 tonnes transported to the western border crossings. After Russian attacks effectively blocked Ukraine's Black Sea port, which handled?90% grain exports, shipments have been rerouted via Danube ports, and border crossings to European countries. These...

Three industry sources said that the?Ukrainian drone 'attack' on Russia's Nizhny Novgorod region caused a halt to?crude oil?processing at NORSI, Russia’s second largest?gasoline producer and fourth-largest refinery. A drone attack by Ukraine on the Russian region of Nizhny Novgorod on August 26 damaged an unspecified industrial building, according to local governor Gleb Nikitin. Lukoil - the owner of 'the refinery' - did not respond immediately to a'request for comment. Sources said that the drone attack had damaged a number of?processing units and inter-unit infrastructure, as well as general?plant equipment. The sources were unable to estimate how long it would be...

Gassco, the infrastructure operator, said that Norway's natural-gas export capacity would be reduced by 20% in a period up to the end of September. This is due to the final planned maintenance for the system to be ready for the high demand winter season across Europe. Gassco, the infrastructure operator, said that Norway's natural gas export capacity would be reduced by around 20% in a period until the end of September due to a final round of planned maintenance. This is in preparation for the high-demand winter season in Europe. Gassco data on transparency shows that the aggregated reduction in...

A spokesperson for PCK Schwedt in Germany said that the refinery is still running at around 80% of its capacity, despite the loss of Kazakh crude oil. Alternative imports through Poland's Gdansk Port have fully compensated for what was lost, according to a statement on Wednesday. Russia has stopped supplying Kazakh crude oil to Germany via the Druzhba Pipeline as of?May 1. This is a serious blow to the refinery that supplies the majority of fuel to Berlin and relies on Kazakhstan for 17%. PCK's?currently? supplied via?routes through Rostock and Gdansk allows it to maintain the operating levels reached when...

Three trade sources reported that freight rates for tanker shipments of Russia's flagship Urals oil from western ports to India - the grade's primary market - have risen in August due to a'strong demand' for vessels as well as mounting security risks relating to transporting Russian oil. Shipping costs are increasing, which is hurting the revenues of Russian oil producers who already face Western sanctions as well as a challenging geopolitical climate. Conflict in the Middle East has also impacted global shipping routes, which have boosted freight markets. The Strait of Hormuz is one of the most important chokepoints in...

Three industry sources have confirmed that Russia will extend its diesel export ban until September due to the?fuel shortages on the domestic market. Three industry sources told us that the extension of the ban to the end of this year was also being discussed. The Russian Energy Ministry did not reply to a comment request. The ban was introduced by Russia from July 8 until July 31, as part of a package of measures designed to support the domestic market. It was later extended to fuel producers up to August 31. Russia has also banned the export of motor gasoline...

The CEO of TotalEnergies, a French oil company, said that the company will continue to invest in the Middle East in spite of the Iran conflict. This was revealed at a conference on energy in Norway. Patrick Pouyanne previously said that it was important to fund alternate pipelines in order for oil to leave Middle East, given the paralysis of the Strait of Hormuz during the U.S.-Israel war against Iran. Pouyanne stated at the ONS Conference that "we are today the largest traders of oil from Iraq or Qatar... it is clear to me that a certain amount equity needs...

Uniper, a German company, has filled 70% its?natural-gas storage capacity reserved over the summer despite the wholesale prices being low. The war in Iran is making the market more challenging. Michael Lewis said that an?inverted winter-summer spread', where the summer wholesale prices are higher than those of the winter, means there is no incentive to store gas. He made this statement after signing a deal for gas supplies with Norway's Equinor. "Now, that doesn't imply we haven't stocked any gas." Lewis stated that we've filled about 70% of the contracted gas storage. He added that the price spread had moved...

Uniper, a German company, has signed an 'agreement' to import from Equinor more than 30 Terawatt Hours of gas per year starting in 2027. The companies announced the agreement on Monday. This deal reinforces Norway's role as Europe's largest economy's main supplier. The agreement, which is equivalent to approximately 2.8 billion cubic meters of natural gas each year, will run until 2041 and represents nearly 3% of Germany's annual imports of gas. According to the network regulator Bundesnetzagentur Norway supplied 44% Germany's imports of gas. This is a significant increase from Russia, which had been the leading supplier before Moscow...