NOVATEK, Sovcomflot to build 15 Arc7 LNG carriers
In an effort to enhance northern oil and gas fields and boost Arctic shipping, Sovcomflot and NOVATEK entered into long-term charter agreements so as to build 14 Arc7 ice-class LNG tankers.
Russia
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Russia’s economy affected by COVID-19
The COVID-19 pandemic affected the Russian economy in February, when production in China dropped and oil consumption seriously decreased.
Russia detains three after Arctic fuel spill
Investigators from Russia detained three managers of an Arctic power station linked to the huge fuel spill that polluted the area about a month ago, as wind, rain and cold impacted the clean-up operations.
High European gas stocks raise pressure for supply cuts
European gas inventories have reached record levels, amid a week demand which has caused excess gas moving into storage, putting pressure on producers to cut supply.
Russian ports increase cargo handling in first quarter
Due to the rising freight charges and reduced capacities because of the COVID-19 pandemic, freight traffic in Russia is severely restricted. However, its seaports have reported positive cargo handling.
Two Russian companies to build world’s most powerful nuclear icebreaker
Two Russian companies joined forces on Thursday, April 23, for the construction of the world’s most powerful nuclear icebreaker, in their efforts to improve trade though the Northern Sea Route (NSR).
Russia launches plan for a low carbon future
Russia has set out a long-term, low carbon development plan spanning on the next three decades. According to the plan, Russia will reduce GHG emissions by a third by 2030 from 1990 levels.
Russia implements restricted measures to mitigate the spread of COVID-19
Following the majority of the countries worldwide, Russia issued guidelines on how its shipping sector is dealing with the COVID-19 pandemic.
Oil market can achieve up to 3m barrels per day from April
Rystad Energy estimated that the extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), while OPEC+ countries are able to add next month 2 million bpd, according to their storage, spare capacity and ramp up capabilities.
Saudi Arabia now offers its own cheap oil barrels
Saudi Arabia increases efforts to send Russia’s Urals oil grade out of its markets as it offers its own cheap barrels, as the two countries’ deal to support global oil prices fell apart.
