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Tax policy will shape Russia’s oil future
The consensus among market observers is that the country’s oil output will fall in the long term. Yet few recognise how Moscow’s shifting tax regime is designed to keep the next barrel commercially viable
Hungary defends Russian energy use
Claims the country lacks alternatives to Russian oil and gas may be exaggerated, although higher costs and reduced security of supply are legitimate concerns.
Latest EU sanctions largely toothless
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
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
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
Russia’s quest for energy ‘technological sovereignty’, part 1
The country inherited a near self-sufficient oil and gas industry from the USSR, and it is working fast to eliminate shortfalls in its domestic capability, where advanced drilling and subsea technologies remain a vulnerability
The rise of oil’s big three, part 3: The oil age develops
The 20th century’s two global conflicts made clear the geopolitical importance of oil, while Russia and Saudi Arabia joined the US as hydrocarbons superpowers
The rise of oil’s big three, part 2: The start of the oil age
In the second part of our history of oil special on the ascent of the US, Russia and Saudi Arabia, we examine the early years of the age of oil
The rise of oil’s big three, part 1: The transition to oil
In this first part of the first chapter of our 90th anniversary special on the history of oil, we look at oil’s humble beginnings and the start of its rise to prominence
Moscow’s moves may impede Africa’s energy ambitions
Upstream projects may not benefit from Russia’s involvement, but South Africa might be seeking to become an importer of Russian molecules
Marine fuel market faces disruption
Shipping Bunker fuel Russia
Simon Ferrie
23 March 2022
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Marine fuel market enters troubled waters

Ripple effect from Russia’s war in Ukraine may result in significant supply disruption

The global marine fuel market could face significant supply disruption caused by the fallout from Russia’s invasion of Ukraine. Russia is particularly vital to the bunker market’s supply chains, accounting for 14pc of global fuel oil and 58pc of vacuum gas oil (VGO) shipments in 2021, according to shipbroker Arrow. Russian fuel oil exports are already down by around a third already this month, says David Wech, chief economist at energy intelligence firm Vortexa. VGO is used as a feedstock to produce gasoline and very low sulphur fuel oil (VLSFO), prices for which spiked in the immediate aftermath of Russia’s invasion, reaching “record levels” in early March and remaining high, according to s

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