• 1 day Shell Oil Trading Head Steps Down After 29 Years
  • 1 day Higher Oil Prices Reduce North American Oil Bankruptcies
  • 1 day Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 1 day $1.6 Billion Canadian-US Hydropower Project Approved
  • 2 days Venezuela Officially In Default
  • 2 days Iran Prepares To Export LNG To Boost Trade Relations
  • 2 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 2 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 2 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 2 days Rosneft Announces Completion Of World’s Longest Well
  • 2 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 3 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 3 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 3 days Santos Admits It Rejected $7.2B Takeover Bid
  • 3 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 3 days Africa’s Richest Woman Fired From Sonangol
  • 3 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 3 days Russian Hackers Target British Energy Industry
  • 4 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 4 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 4 days Lower Oil Prices Benefit European Refiners
  • 4 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 4 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 4 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 5 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 5 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 5 days OPEC To Recruit New Members To Fight Market Imbalance
  • 5 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 5 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 5 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 5 days GE Considers Selling Baker Hughes Assets
  • 5 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 6 days Saudi Aramco To Invest $300 Billion In Upstream Projects
  • 6 days Aramco To List Shares In Hong Kong ‘For Sure’
  • 6 days BP CEO Sees Venezuela As Oil’s Wildcard
  • 6 days Iran Denies Involvement In Bahrain Oil Pipeline Blast
  • 8 days The Oil Rig Drilling 10 Miles Under The Sea
  • 8 days Baghdad Agrees To Ship Kirkuk Oil To Iran
  • 8 days Another Group Joins Niger Delta Avengers’ Ceasefire Boycott
  • 9 days Italy Looks To Phase Out Coal-Fired Electricity By 2025
U.S. Shale To Beat Saudi Production Growth

U.S. Shale To Beat Saudi Production Growth

In its latest report, the…

New Battery Design Could Crush Tesla

New Battery Design Could Crush Tesla

Elon Musk’s old rival, Henrik…

Ukraine Billed For Gas To Pro-Russian Separatists

NatGas

Gazprom has been supplying natural gas to pro-Russian separatist territories in eastern Ukraine and charging Kyiv’s state-owned company Naftogaz for it, Ukrainian UAWire reported, citing figures from the Russian company.

Indeed, in its second-quarter report, Gazprom has included 1.389 billion cu m supplied to Ukraine. However, official supplies to the country from Russia were suspended in 2015, amid a dispute between Gazprom and Naftogaz over pricing and supplies. Transit deliveries continue, to Europe, but Gazprom is planning to reduce the amount it transits through Ukraine in the future, through Nord Stream-2 and other alternatives.

The Ukrainian website noted that it has been 600 days since Gazprom suspended all gas deliveries to Naftogaz, but is now charging the state company for the gas it supplied to separatists, at US$306.6 per thousand cu m, based on prices for the first quarter of the year.

In fact, UAWire says, Gazprom has been supplying separatist republics in eastern Ukraine with gas for two years now but adding the payments due to Naftogaz’ bill. The Ukrainian company has repeatedly said it would not pay for gas deliveries through two gas-metering stations in eastern Ukraine, so these could not be added to its bill, the website explains.

The dispute has been going on for three years now. Essentially, Gazprom claims it has made deliveries to Ukraine that it hasn’t yet paid for in full. Naftogaz, for its part, counters that Gazprom has been overcharging it unfairly and it will not pay the higher price.

Related: Turkey Expands Influence In Kurdish Energy Sector

The case was brought before an arbitration court at the Stockholm Chamber of Commerce, with Naftogaz seeking US$30.3 billion from Gazprom, and the Russian company claiming US$47.1 billion, under this dispute and another one, in which Naftogaz wants higher transit payments from Gazprom for the gas going into Europe.

In a preliminary ruling, the Stockholm court ruled in favor of Naftogaz, at least according to Naftogaz. According to Gazprom, the ruling was just a stage in the court process, Reuters reported at the time. Last month, the Arbitration Institute of the Stockholm Chamber of Commerce said it would issue its final ruling by November.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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