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Power of Siberia 2: deal or no deal?
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns over over-dependency on a single supplier and desire to drive down the price make it relatively unlikely that a contract will be finalised this year.
Trump’s Russia threat rings hollow
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
Letter from Austria: OPEC delivers wake-up call
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
OPEC+’s extra barrels mostly made of paper
Robust demand and a limited supply of additional physical barrels from key OPEC+ producers has kept the oil market in a healthy price range
Waiting for Arctic LNG 2
Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer
Letter from the Middle East: Iran-Israel war risks dire straits
A blockade of the Strait of Hormuz would have reverberations that would sound around the world
IEA and OPEC energy assumptions on fragile ground
Geopolitical uncertainty casts a pall over expectations around demand, supply, investment and spare capacity
US, Russia and China circle the Arctic
The strategic importance of vast untapped oil and gas reserves and key shipping routes has come in from the cold
Israel-Iran war imperils Egypt’s energy supply
Egypt’s government was already preparing for potential energy shortages this summer, and the loss of Israeli gas supply has made things worse
The oil risk premium fable
Israel’s attack on Iran caught oil firms with low inventories due to their efforts to protect themselves from falling prices, creating a perfect storm
Russia Iran Gazprom Lukoil Opec
Derek Brower
3 July 2017
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Russia is planting flags in the Middle East

Pragmatism and a tolerance for risk are giving Russian energy interests an edge in the region

Sometime in 2024, capacity at Iran's sole nuclear power facility, at Bushehr on the Gulf coast, will double to 2 gigawatts. A couple of years after, another 1GW reactor is due online. If nothing else, Iran is coming good on its civilian nuclear ambitions. Russia, whose state atomic firm Rosatom is building the two new plants, is the enabler. Russia's and Iran's energy plans don't stop at reactors. Lukoil, a private firm but Russia's second-biggest oil producer, and state-controlled Gazprom both have Tehran's approval to bid for upstream projects. Lukoil, which hopes to develop the Abe Timur and Mansuri fields, in western Iran, says the country "is our target area at the moment". Gazprom, whi

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India’s Nayara fallout
29 July 2025
The EU’s Russia sanctions could have far-reaching implications for India’s Vadinar-based refinery
Power of Siberia 2: deal or no deal?
29 July 2025
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns over over-dependency on a single supplier and desire to drive down the price make it relatively unlikely that a contract will be finalised this year.
An end to EU green illusions
29 July 2025
EU industry and politicians are pushing back against the bloc’s green agenda. Meanwhile, Brussels’ transatlantic trade deal with Washington could consolidate US energy dominance.
Iraq’s tangled Ceyhan oil web
25 July 2025
KRG, Iraq’s central government and Turkey are all working to get exports flowing from the key port, but complications remain

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