North Asia

The airport director announced on Tuesday that talks are in progress between the Moldovan government and Russia's Lukoil about buying the energy company’s infrastructure at Chisinau Airport as part of an effort to implement U.S. Sanctions imposed last month. Serdgiu Spoiala stated that he did not see any risk of the airport running out of aviation fuel, after the government proposed to buy Lukoil’s facilities on Monday. The sanctions imposed by the United States on Lukoil and Rosneft were linked to the war that has lasted for more than three-and-a-half years in Ukraine. Currently, it is the only supplier of...

Two industry sources said on Tuesday that the Russian energy company Novatek had restored to full capacity its gas condensate facility at the Baltic Sea Port of Ust-Luga following repairs of damaged equipment caused by drone attacks in August. The fire was caused by Ukrainian drones on August 24. This led to the complete shutdown of the operation, including the fuel export loading. It is one of many disruptions in Russia's energy sector as Ukraine intensifies drone attacks during the ongoing conflict between the two neighbours. One source said that the daily processing of stable condensate (a type of lighter...

Belgian officials have enlisted foreign forces to help them track or seize drones that are making incursions near its airports and military bases, as well as a nuclear power plant. They claim this is all a result of Russian interference. Last Tuesday, drone sightings caused the authorities to temporarily close Belgium's busiest airport, Brussels Airport. This was one of several recent incursions which also resulted in a brief closure at the cargo hub, Liege Airport, and disrupted a nearby airbase. "We don't say it's Russia. "We're not saying it's Russia. It is impossible to link any incident with a specific...

The differentials between Russian Urals and other oil products remained stable on Friday despite low trading activity. Sellers and buyers were not rushing to begin December trading due to the uncertain political climate. The Suez Canal has seen two tankers with around 1.5 million barrels each of Russian Urals crude drop anchor in the sea. This is an indication of the difficulties Moscow faces selling oil following the tightening of Western sanctions last month. The supply problems are expected to worsen next week, as the deadline of November 21 for Rosneft's and Lukoil's transactions is fast approaching. The schedule shows...

The giant Russian railcar and tank manufacturer Uralvagonzavod said Friday that it would be restructuring its operations in order to reduce costs. A local report had stated the company planned to cut its workforce by 10%. The Uralvagonzavod plant, located in Nizhny Tagil about 1,400 km east of Moscow in Nizhny Tagil, has been sanctioned for its role in providing tanks to Moscow's Ukraine war. The factory is owned by a state-controlled conglomerate that has ties to one of Vladimir Putin's closest allies. It claims publicly to produce T-90M battle tank and modernise T-72B3M. Local news outlet E1 reported on...

The price differential between Urals and Brent for December arrived in India on Thursday, as the flagship blend of Russia was traded at its steepest discount in over a year. This is due to new U.S. sanctions against Russia's top oil producers. The price difference for Russia's flagship Urals oil in Indian ports has widened from $2 to $4 per barrel under Brent for December arrival. This is the largest discount in about a month. According to estimates and shipping and trading sources, Russia's oil imports to western ports will decrease in November due to higher refinery runs but remain...

Three sources familiar with this matter confirmed on Thursday that the Volgograd refinery of Russian oil giant Lukoil has stopped operations following a drone strike by Ukrainians. Since several months, Ukraine has been attacking Russian oil refineries and depots. Meanwhile, Russian airstrikes have also targeted Ukrainian energy infrastructure in a conflict that is now approaching its fourth anniversary. The primary processing unit CDU-5 with a daily production of 9,100 tons or 66.700 barrels a day, a fifth of total plant capacity, and a hydrocracker that can produce 11,000 tons a day, were both damaged in the attack. Lukoil has not...

The Norwegian Police announced on Thursday that they have closed their investigation into the suspected sightings of drones in Oslo Airport in September. They cited insufficient evidence to prove that drones were present. Oslo and Copenhagen airports were closed for several hours between September 22 and 23 after drones reported in the area caused the closure of the airspace. In recent months, drones have caused significant disruption in Europe. They forced the temporary closure of airports across several countries. Some officials blamed these incidents on Russian "hybrid war". Moscow denies any involvement in the incidents. Norwegian police confirmed that they...

According to LSEG and market sources, Russia's seaborne gasoil and diesel exports dropped 4% from September to 2.37 million metric tonnes, due to seasonal and unplanned refinery shutdowns that reduced fuel production. Market sources reported that exports of ultra low-sulphur fuel via Primorsk fell 5.7% on a month-to-month basis to 0.906 millions tons. LSEG data shows that Turkey remained the top buyer of Russian gasoil and diesel, with imports increasing 1%, to 1.0 millions tons. The shipment to Brazil dropped 73%, to 74,000 tonnes. According to LSEG, Brazil increased its diesel imports due to the shrinking Russian supply. Brazil imports...

U.S. president Donald Trump has targeted China as his top economic rival with a cascade on tariffs that are worth billions of dollar. He is trying to reduce a trade surplus, bring back lost manufacturing and cripple fentanyl traffic. In reverse chronological order, here are the key events of this year in U.S.-China Trade War: November 5 - Beijing suspends all retaliatory duties on U.S. goods imports until November 10, including farm products at up to 15%. However, it keeps 10% levies as a countermeasure to Trump's "Liberation Day tariffs". China is easing measures against U.S. companies and reducing tariffs...

After drone sightings on Tuesday night forced the closure of airports, a military base and an airbase, the Belgian government called for an emergency meeting with key ministers. Drones are causing major disruption Europe In recent months, airports have been forced to temporarily close in several countries. Several officials have attributed the incidents to "hybrid war" by Russia. Moscow denies any involvement in the incidents. Skeyes, the Belgian air navigation company, said that Brussels airport, Belgium’s busiest airport, was shut down at 8 pm (1900 GMT), after three drones flew above its perimeter. Around the same time drones were seen...

According to two industry sources, and LSEG ship tracking, Russia's Black Sea Port of Tuapse suspended fuel exports while the local refinery halted crude processing following the November 2 Ukrainian drone attack on its infrastructure. Ukraine announced on Sunday that its drones had struck Tuapse - one of Russia's major Black Sea oil port - causing an explosion and damage to at least one vessel. This was part of Kyiv’s effort to undermine Russia’s war economy through targeting its energy infrastructure. The regional administration confirmed that the strike caused an fire in the port. Since several months, Ukraine has been...

Following talks between their respective Presidents at the Kremlin, Russia and Kazakhstan agreed to increase their partnership in oil following the talks on Wednesday. Kazakhstan, a landlocked country, is heavily dependent on Russia for its energy exports. More than 80% its oil is exported via a pipeline run by the Caspian Pipeline Consortium that runs to a terminal in Russia's Black Sea. The Russian President Vladimir Putin met with the Kazakh President Kassym Jomart Tokayev on Wednesday, where they discussed gas projects and U.S. sanctions against Russian oil companies. Tokayev, in a televised statement following the meeting with Putin, said:...

His lawyer announced on Tuesday that a Ukrainian suspected of being involved in the blasts at 2022 Nord Stream has ended a hunger-strike he started on October 31. Italian authorities had pledged to protect his rights. According to his lawyer Nicola Canestrini, the detainee identified as Serhii in Germany under privacy laws, stopped protesting after being assured that he would receive food that met his medical needs. The Italian authorities have not yet commented. Serhii k. refused to eat in protest of prison conditions, and what his lawyer claimed was the failure to provide him with a proper diet. Canestrini...

Sources say that CPC Blend oil was revised down to 1.45 million barrels a day (bpd), from 1.55million bpd in November. Two sources confirmed that the November loading schedule has been cut due to the cancellation of two Suezmax cargoes, each weighing about 130,000 tons, supplied by Tengizchevroil led by Chevron. In October, Kazakhstan's oil output declined due to a decrease in TCO production. Sources said that CPC Blend oil exports have also been affected by the lower output of Kazakhstan's Karachaganak Oilfield, operated Karachaganak Petroleum Operating. This oilfield had to reduce production because of a Ukrainian drone attack on...

In an opaque market, the differentials between urals crude and other grades remained stable on Monday as participants assessed the impact of sanctions placed on Lukoil last month and Rosneft the previous month on the supply of this grade to India and Turkey. Sources in the trade said that two Indian state refiners bought 5 million barrels from spot markets as they continued to search for alternatives to Russian oil supplies. Sources said that Lukoil declared force majore at its Iraqi field of oil, while Bulgaria was preparing to seize the Burgas refinery as its international operations buckled due to...

Hungary claimed on Saturday that it had received an indefinite waiver of U.S. sanctions for the use of Russian oil and natural gas. However, a White House representative reaffirmed that this exemption was only valid for one year. Last month, U.S. president Donald Trump imposed sanctions related to Ukraine on Russian oil firms Lukoil & Rosneft. These sanctions carried the threat of additional sanctions against entities who buy oil from these firms. Viktor Orban met Trump, a Trump ally for many years, at the White House last Friday in order to push for a reprieve. Hungary heavily relies on Russian...

Hungary announced on Saturday that it has been granted an indefinite exemption from U.S. sanction for its use of Russian oil and natural gas. This is contrary to a White House official, who claimed it was only granted a year-long exemption. Last month, U.S. president Donald Trump imposed sanctions related to Ukraine on Russian oil firms Lukoil & Rosneft. These sanctions carried the threat of additional sanctions against entities who buy oil from these firms. Viktor Orban met with Trump, a longtime ally of Trump, at the White House last Friday in order to push for a reprieve. Hungary heavily...

The U.S. president Donald Trump invited the Hungarian prime minister Viktor Orban to his White House for a Friday discussion on Hungary's dependence on Russian oil, at a moment when Trump is working to wean countries off it. Orban, who has been a Trump ally for many years, arrived in the White House Friday at noon to have his first bilateral with Trump since the Republican Leader and former New York Businessman returned to office in January. Both leaders share a similar anti-immigration position, but the issue of Russian oil has caused a rift in their relationship. Trump has demanded...

The Suez Canal has seen two tankers with around 1.5 million barrels each of Russian Urals crude drop anchor in the sea. This is an indication of the difficulties Moscow faces selling oil following the tightening of Western sanctions last month. According to tracking data provided by LSEG, OilX and LSEG, the vessels Sikar and Monte 1 both carried oil from Russia’s Baltic port Primorsk at the beginning of October. They have remained anchored for more than a week near this canal. The United States, along with the European Union, have tightened sanctions on Russia's oil industry in an effort...

The Suez Canal has seen two tankers with around 1.5 million barrels each of Russian Urals crude drop anchor in the sea. This is an indication of the difficulties Moscow faces selling oil following the tightening of Western sanctions last month. According to tracking data provided by LSEG, OilX and LSEG, the vessels Sikar and Monte 1 both carried oil from Russia’s Baltic port Primorsk at the beginning of October. They have remained anchored for more than a week near this canal. The United States, along with the European Union, have tightened sanctions on Russia's oil industry in an effort...

The Belgian airport of Liege has resumed flight after a temporary stop due to a sighting of a drone, the country’s air traffic service announced on Friday. This is the second incident in this week. Skeyes, the Belgian air traffic control service, said that it had received a report about a drone flying over the airport at 06:30 GMT. The airport was closed for 30 minutes. Kurt Verwilligen said, "We must take every report very seriously". Flights had resumed, he said. He added that flights had resumed. Drones flying over military bases and airports have been a problem in Belgium...

The U.S. president Donald Trump will meet with the Hungarian prime minister Viktor Orban for talks on Friday. They are expected to talk about Hungary's dependence on Russian oil, at a moment when Trump is working to wean countries off it. Orban, who has been a Trump ally for many years, will meet the U.S. President in person for the first bilateral meeting since Trump returned to his White House office in January. Both leaders share similar views on immigration, but the reliance of Hungary on Russian oil could be a difficult issue. Trump has insisted that European nations cease...

Shipping and trading sources, as well as estimates by, predict that Russia's oil imports from western ports will decrease slightly in November, despite higher refinery run rates, but remain near the record highs of recent months. The November exports of Urals crude, Siberian Light and KEBCO grades are expected to be around 2.3 million barrels a day (bpd). This includes volumes carried over from September. The November figure is just marginally below October's figure, which was around 2.4m bpd. This included some volume carried over from September. According to industry sources, Russia's western port operated at near capacity in September...