• 4 minutes The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 14 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 3 days Once seen as fleeting, a new solar tech proves its lasting power
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 9 hours Bloomberg - "Hedge Funds Hit by ‘Onerous’ ESG Rule Turn to Lawyers for Help"
The Canadian Government Will Not Fund New LNG Terminals

The Canadian Government Will Not Fund New LNG Terminals

Canada's Natural Resources Minister has…

The Futuristic Vehicles That Could Compete With EVs

The Futuristic Vehicles That Could Compete With EVs

While electric vehicles are undoubtedly…

Editorial Dept

Editorial Dept

More Info

Premium Content

Pressure Mounts On Russia's Oil Industry

Energy Markets on War Footing

Russia has choked throughput on a Caspian Sea pipeline carrying crude oil from the Tengiz fields in Kazakhstan to Russia’s Black Sea coast. Russian officials say they were forced to throttle throughput in the 1.4M bpd capacity pipeline after a related port was severely damaged due to weather conditions. They also said it could take up to 2 months to repair the damage, seemingly blaming Western sanctions for that in another veiled threat to energy markets. This pipeline pushes over 60% of Kazakhstan’s oil exports, whose target market is partly composed of Western European refiners.

While Russian refiners are said to be cutting back on production, there is no intra-agency consensus on how much Russian oil output could decline. Estimates are vastly different, leaving us none the wiser. Russian oil is still being traded by plenty, though shipping companies are self-sanctioning and making physical trade difficult. India is still scooping up discounted Russian Urals crude. Most likely, private Chinese refiners are, as well, though data is limited.

The Iranian-backed Houthis on Friday morning bombarded Saudi Arabia in a multi-pronged missile attack. One missile reportedly hit a Saudi Aramco storage facility, the North Jeddah Bulk Plant. While official confirmation of the extent of damage caused by the Houthi missile barrage has yet to come, social media sources say this particular facility is used for storage and distribution…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News