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Letter from Iran: Tehran's dreams and Moscow's deceptions
Russia is making a show of support for Iran as the two nations strengthen their ties, but the promised investment may never materialise
Asia’s NOCs chart paths to decarbonisation
But none of the companies are poised to abandon oil and gas anytime soon
China’s LNG demand blunted for now
Pipeline imports and domestic production gains may limit LNG take, but Russia and Central Asia uncertainty could prompt buying activity
Rise of Brics challenges oil world order
The five economies are shaking up global markets, and they could be on the cusp of a major break from the existing order
Russia-India crude trade poses challenges
Western banking sanctions and the crude price cap cause headaches for New Delhi and Moscow
Letter from China: Price controls squeeze gas suppliers
Incomplete price reforms pose problems for both upstream and downstream players and threaten further shortages
Russia struggles to reroute gas exports
Distance and politics mean there are no easy solutions to Moscow’s pipeline problems
Low prices not luring Asian buyers back to LNG
Preferable nuclear and coal options suggest balanced Asian LNG market, at least over the summer
Opec+ cuts jar with China’s strong buying signals
Beijing likely to be unfazed by move amid growing alliance with Saudi Arabia
China holds all the cards in Russia’s eastern pivot
The Asian giant sees no reason to rush on energy cooperation
Diesel pricing in Europe
Diesel Europe Hydrogen China Russia
Ahmed Mehdi
5 December 2022
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Where next in Europe’s diesel crisis?

The fate of the continent’s supply crunch may lie elsewhere—in China, the Middle East and Russia

Europe’s diesel deficit has provided the only credible challenger to gas as the centrepiece of the continent’s energy crisis this year. Northwest Europe diesel cracks averaged $9/bl in 2021 and have averaged $40/bl so far this year—an increase of 420pc. But what has been driving the rally? And what is the outlook for European diesel pricing into 2023? Global capacity In a letter to his country’s oil executives this summer, US president Joe Biden warned the tightness in the world’s refining capacity was a “global challenge and global concern”. Biden’s words reflected the fact that c.3.5mn bl/d of distillation capacity had been shut down since the pandemic, resulting in a net decline after new

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Letter from Iran: Tehran's dreams and Moscow's deceptions
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Russia is making a show of support for Iran as the two nations strengthen their ties, but the promised investment may never materialise

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