• 3 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 7 minutes Middle East on brink: Oil tankers attacked off Oman
  • 11 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 15 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 1 hour The Pope: "Climate change ... doomsday predictions can no longer be met with irony or disdain."
  • 27 mins Coal Boom in Asia is Real and a Long Trend
  • 29 mins The Plastics Problem
  • 2 hours Hydrogen FTW... Some Day
  • 13 hours China's President Xi To Visit North Korea This Week
  • 16 hours OPEC, GEO-POLITICS & OIL SUPPLY & PRICES
  • 5 hours GM Considering Electric Hummer
  • 1 hour As Iran Nuclear Deal Flounders, France Turns To Saudi For Oil
  • 15 hours Forbes: Giant Floating Solar Farms Could Extract CO2 From Seawater, Producing Methanol Fuel.
  • 9 hours The Magic and Wonders of US Shale Supply: Keeping energy price shock minimised: US oil supply keeping lid on prices despite global risks: IEA chief
  • 19 hours Why Is America (Texas) Burning Millions of Dollars Per Day Of Natural Gas?
  • 19 hours Fareed Zakaria: Canary in the Coal Mine (U.S. Dollar Hegemony)
  • 17 hours Hormuz and surrounding waters: Energy Threats to the World: Oil, LNG, shipping markets digest new risks after Strait of Hormuz attack
  • 3 hours The Latest: Iranian FM Says US Cannot Expect To ‘Stay Safe’
  • 12 hours Russia removes special military forces from Venezuela . . . . Maduro gone by September ? . . . Oil starts to flow ? Think so . .
A Geopolitical Energy Grenade In Europe

A Geopolitical Energy Grenade In Europe

A geopolitical energy grenade is…

OPEC Discord Grows As Saudis Hint At ‘Delayed’ Meeting

OPEC Discord Grows As Saudis Hint At ‘Delayed’ Meeting

Saudi Energy Minister Khalid Al-Falih…

Rosneft Confident Oil Pricing Dispute With China Resolved Soon

China and Rosneft are disputing the price that the Russian company is to provide oil through its Eastern Siberia-Pacific Ocean (ESPO) pipeline, but Rosneft remains optimistic that the issue will shortly be resolved.

Rosneft issued a statement observing, "The contract price formula is unchanged. The Chinese side has demonstrated significant progress in the resolution of issues of payment for the supplies, and has paid a significant portion of the debt under the contract. It is these circumstances that instill Rosneft with the confidence that the situation will finally be resolved soon."

The ESPO pipeline represents a major strategic shift for Russia, sending its crude oil eastwards to Asian markets rather than the pattern developed in soviet times of shifting energy westwards, first for the indigenous Soviet market and then onwards to Europe. In 2003 former Yukos chairman Mikhail Khodorovskii was castigated by the Kremlin for proposing a private Yukos pipeline to supply the burgeoning Chinese market.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News