By Tyler Losier, Energy Reporter, Oil & Gas 360 Security Service of Ukraine detains Russian oil tanker, releases crew after threats from Moscow A Russian oil tanker is being detained by Ukrainian authorities in the port of Izmail near the Black Sea in what appears to be an act of retaliation for a similar incident that occurred last November. According
Ukraine says Russia starting ‘gas war’ with controversial pipeline
From Reuters Russian Energy Minister Alexander Novak said on Tuesday that three-way talks with Ukraine and the European Union would continue in the autumn, after he met representatives from Kiev and the European Commission in Berlin. He also reiterated a statement by Russian President Vladimir Putin that Russia was ready to prolong a gas contract with Ukraine that expires on
From CNBC/Reuters MOSCOW, March 2 (Reuters) – Russian gas giant Gazprom said on Friday it had asked a court to terminate its gas supply and transit contracts with Ukraine after being ordered to pay $2.56 billion to Kiev, in a dispute which the EU said could threaten gas flows to Europe. The move follows a ruling in a Stockholm arbitration
New law guarantees government won’t forcibly take assets On Dec. 30, 2017, Ukraine President Petro Poroshenko signed a new law reducing the natural gas royalty rate on all new wells drilled after Jan. 1, 2018 from 29% to 12%. “The Agreement for the Encouragement and Protection of Investment” ties Ukraine and the OPEC Fund for International Development (OFID) together in
Ukraine’s Naftogaz seeks compensation for assets in Crimea The fallout between Russia and Ukraine continues as Ukraine’s state-owned oil and gas company Naftogaz files for US$2.6 billion in damages over its lost assets in Crimea. Naftogaz and its subsidiaries filed a claim against the Russian Federation under the Russia-Ukraine Bilateral Investment Treaty, the company said in a press release. “Upon
Ukraine and Russia agree on a new “Winter Deal” After months of negotiation mediated by the European Union, Russia and Ukraine have come to an agreement on the price for gas from Russian monopoly Gazprom (ticker: OGZPY) for the coming winter. Ukrainian Energy Minister Volodymyr Demchyshyn indicated Monday that the price Ukraine will pay for Russian gas supplies in the
Ukraine hopes to return to last winter’s gas deal Ukrainian Prime Minister Arseniy Yatsenyuk said last Friday that Ukraine and Russia should implement a similar deal to the one reached last winter for the coming months, reports the Associated Press. “We are convinced that the only mechanism to ensure a gas transit to the E.U. as well as stable supplies
Russia’s gas giant faces falling demand at home and abroad, lowest output in company history Gazprom (ticker: OGZPY), Russia’s state-owned gas giant, is seeing rapidly declining production as demand for its gas falls both at home and abroad. The company’s output in June fell by 19% compared to the same month in 2014 to a record low of 24.7 Bcm,
Russia offers $40 per Mcm discount on gas, but Ukraine says no Russian state-owned energy giant Gazprom (ticker: OGZPY) announced that it is halting gas flows to Ukraine amid a pricing dispute. Gazprom CEO Alexi Miller said Gazprom has not received advanced payment for deliveries of natural gas for July, and will not deliver gas to Ukraine at any price
Turkey’s decision could cut off Black Sea countries like Ukraine from LNG tankers Turkey announced that it will not allow the passage of tankers with liquefied natural gas (LNG) across the Bosporus Strait for fuel supplies to Ukraine, Turkish Ambassador to Kiev Yonet Can Tezel said in an interview Friday. The Bosporus Strait is the only waterway connecting the Black
Ukrainian Energy Minister hopes to nearly double the tariff on gas transit in the country Ukrainian Minister of Energy and Coal, Vladimir Demchishin, plans on using the upcoming March 20 meeting between Ukraine, Russia and the European Union to discuss increasing the transit tariff of Russian gas. Demchishin said: “The present-day rate is at $2.88 per 100km. While comparing the
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