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Energy

Monday, May 16

Ukraine can import gas from foreign LNG terminals.

Ukraine can import gas from foreign LNG terminals. It is now possible to import gas to Ukraine from LNG terminals in Greece, Croatia, Poland, and Lithuania, said General Director of GTS Ukraine Operator LLC Serhiy Makogon. He notes that the OGTSU dou...

Fuel imports to Ukraine by truck have increased 15 times.

Fuel imports to Ukraine by truck have increased 15 times. Since the beginning of May, fuel imports over the road have increased 15 times and imports by river transport and rail by five times compared to March, reported Forbes Ukraine. Since the beginning of...

Canada has abolished duties on hot-rolled products from Ukraine.

Canada has abolished duties on hot-rolled products from Ukraine. During an official review of the tariffs on hot-rolled carbon and alloy steel sheets from Brazil, China, India, and Ukraine, introduced in 2001, officials refused to extend duties on 77% of goods fro...

Friday, May 13

Germany accuses Russia of using energy as a weapon.

Germany accuses Russia of using energy as a weapon. German Vice-Chancellor and Economy Minister Robert Habeck accused Russia on Thursday of using energy “as a weapon,” following an announcement by the Russian government on Wednesday to impo...

It will cost the EU €195B to become independent from Russian energy,

It will cost the EU €195B to become independent from Russian energy, reported Spiegel.de. Brussels is expected to present a plan to provide the possibility to the EU to become energy-free from Russia as soon as the middle of next week. To this end, the commission wants...

Ukrenergo received UAH 2B of net income in the first quarter.

Ukrenergo received UAH 2B of net income in the first quarter. In January-March 2022, the National Energy Company Ukrenergo received UAH 2B net income and paid almost UAH 500M in taxes to the state budget, announced the Chairman of the Board, Volodymyr Kudrytsky...

Thursday, May 12

Germany will not accept gas through Nord Stream 2.

Germany will not accept gas through Nord Stream 2. The German government has rejected speculation that it may activate the Nord Stream 2 gas pipeline from Russia to Germany to compensate for gas flow reduction through Ukraine, stated the press secreta...

After the two-day drop, oil prices climb 6% on concerns about Russia.

After the two-day drop, oil prices climb 6% on concerns about Russia. After two days of sharp losses, oil prices rose sharply Wednesday on renewed concerns about the flow of energy from Russia, reported CNN. US oil jumped 6.3% to $105.97 a barrel in recent trading. Bre...

The EBRD will allocate €50M to Ukrenergo for support liquidity.

The EBRD will allocate €50M to Ukrenergo for support liquidity. The European Bank for Reconstruction and Development (EBRD) and Ukrainian authorities have agreed on repurposing part of an existing loan to Ukrenergo, the country’s electricity transmission company, ...

Wednesday, May 11

Ukraine plans to increase fuel supplies through Poland.

Ukraine plans to increase fuel supplies through Poland. During the Polish-Ukrainian Energy Forum, Ukrainian and Polish government officials, and business representatives, worked out practical solutions to overcome the crisis in the fuel market of Ukraine,...

Procrastination with the adoption of the sixth package of sanctions is unacceptable.

Procrastination with the adoption of the sixth package of sanctions is unacceptable. Delay with adopting the sixth sanctions package is intolerable, and all arguments against introducing the proposed oil embargo mechanism are far-fetched, stated Foreign Minister Dmytro Kuleba. All t...

The US has abolished 25% of the import duties on Ukrainian steel.

The US has abolished 25% of the import duties on Ukrainian steel. The US Department of Commerce has announced the suspension of 232 customs tariffs on Ukrainian steel for one year. Some of Ukraine’s largest steel companies were most affected by Putin’s b...

Ukraine has stopped the transit of one-third of gas to Europe due to war.

Ukraine has stopped the transit of one-third of gas to Europe due to war. Ukraine has been forced to suspend gas transit through its Luhansk stations since May 11, which lie in Russian-occupied territory, supplying a third of its gas to Europe, announced the uperator of th...

The EBRD has downgraded Ukraine’s economic downturn in 2022 and improved its outlook for 2023.

The EBRD has downgraded Ukraine’s economic downturn in 2022 and improved its outlook for 2023. The European Bank for Reconstruction and Development (EBRD) has downgraded the forecast for Ukraine’s economic decline due to the war to 30%, while at the end of March, the forecast was minus 20...

Small and medium-sized businesses in Ukraine have lost $85B.

Small and medium-sized businesses in Ukraine have lost $85B. Small and medium-sized enterprises (SMEs) have suffered direct losses of $64-85B in the 75 days since the war began, stated the Advanter Group. SMEs have a total funding need of $54B, with 87% of com...

Tuesday, May 10

Japan will impose an oil embargo on Russia.

Japan will impose an oil embargo on Russia. After Sunday’s online meeting of G7 leaders, Japanese Prime Minister Fumio Kishida said that Japan would impose a ban on Russian crude imports as part of the G7’s decision to counter Russi...

Hungary keeps blocking the EU oil embargo.

Hungary keeps blocking the EU oil embargo. Hungary again blocked the approval of the sixth package of sanctions against Russia, which provided for the gradual introduction of an oil embargo on petroleum products. After the meeting of EU ambass...

Friday, May 6

A gas pipeline between Poland and Lithuania has officially started operating.

A gas pipeline between Poland and Lithuania has officially started operating. The GIPL gas pipeline, which connects the gas transmission systems of Poland and Lithuania, was officially launched on May 5. The gas pipeline is 508 km in length, of which 343 are from the Polish sid...

The most powerful TPP in Ukraine has stopped working.

The most powerful TPP in Ukraine has stopped working. One of the largest Ukrainian thermal power plants (TPP) in the Zaporizhzhya region has stopped working due after running out of coal. Zaporizhzhya TPP in Energodar was forced to stop working due to a...

Wednesday, May 4

Ukraine will build five nuclear power units together with Westinghouse.

Ukraine will build five nuclear power units together with Westinghouse. State Enterprise Energoatom and the American company Westinghouse continue to work on constructing new AP-1000 power units at Ukrainian NPPs, said the head of Energoatom, Petro Kotin. “We have ...

The EU plans to cooperate with Africa to replace Russian gas.

The EU plans to cooperate with Africa to replace Russian gas. The EU plans to step up cooperation with African countries to reduce dependence on Russian gas by two-thirds by the end of 2022, reported Bloomberg. It is noted that the document should be adopted th...

The head of the European Council is convinced that the EU will agree on oil sanctions against Russia.

The head of the European Council is convinced that the EU will agree on oil sanctions against Russia. European Council President Charles Michel is confident that the European Union will impose sanctions on Russia’s oil sector. He said the EU would end its dependence on Russian energy and that n...

Tuesday, May 3

Germany is among several nations ready to support the Russian oil embargo.

Germany is among several nations ready to support the Russian oil embargo. “After these two months, I can say: Germany is not against the oil embargo on Russia. On the contrary, we are ready for it,” said German Minister of Economy Robert Habeck. According to th...

Austria, Hungary, and Slovakia also decided to support the oil embargo.

Austria, Hungary, and Slovakia also decided to support the oil embargo. Following Germany’s decision on the EU oil embargo, Austria, Hungary, and Slovakia also stopped vetoing sanctions and revoked their veto on the oil embargo against Russia. Previously, countries...

Oil prices are falling despite expectations of an EU embargo.

Oil prices are falling despite expectations of an EU embargo. Oil prices fell in trading on May 2 as pessimistic expectations related to an economic growth slowdown in China outweighed fears of potential disruptions in raw material supplies due to a possible EU ...

Monday, May 2

The EU might abandon Russian oil by the end of the year.

The EU might abandon Russian oil by the end of the year. The European Union intends to propose a ban on Russian crude by the end of the year and gradually impose restrictions on imports. According to Bloomberg, the EU will also insist on disconnecting more ...

EU countries will build new gas pipelines to eliminate Russian gas dependence.

EU countries will build new gas pipelines to eliminate Russian gas dependence. Countries in Eastern Europe are partnering up to develop projects and share resources to counter the Russian dominance in the gas market and curb the EU’s reliance on Russian supply. A natural ...

Elon Musk hands over Tesla Powerwall energy-saving systems to Ukraine.

Elon Musk hands over Tesla Powerwall energy-saving systems to Ukraine. In addition to Starlink satellite internet stations, billionaire Elon Musk donated solar panels and energy-saving systems to Ukraine from Tesla Powerwall, announced Minister of Digital Transformation...

Thursday, April 28

EU gas prices have jumped due to Gazprom’s supply cuts to Poland and Bulgaria.

EU gas prices have jumped due to Gazprom’s supply cuts to Poland and Bulgaria. On April 27, gas prices in Europe rose by 24% due to the suspension of gas supplies to Poland and Bulgaria by the Russian corporation, Gazprom. According to the ICE exchange, the price of the nearest...

Wednesday, April 27

Food and Energy prices will increase drastically in 2022.

Food and Energy prices will increase drastically in 2022. According to a quarterly report by the World Bank, world energy and food prices will rise sharply this year due to the full-scale Russian invasion of Ukraine. As forecasted by the World Bank, global...

Tuesday, April 26

The European Union fails to agree on the Russian energy embargo.

The European Union fails to agree on the Russian energy embargo. The European Union fails to agree on the Russian energy embargo.

EU Parliament members appeal to Scholz over the Russian energy embargo.

EU Parliament members appeal to Scholz over the Russian energy embargo. EU Parliament members appeal to Scholz over the Russian energy embargo.

The EU expects the sixth package of sanctions against Russia this week.

The EU expects the sixth package of sanctions against Russia this week. The EU expects the sixth package of sanctions against Russia this week.

Friday, April 22

Ukraine seeks to transfer gas supplies from Nord Stream 1 to its pipeline.

Ukraine seeks to transfer gas supplies from Nord Stream 1 to its pipeline. Ukraine seeks to transfer gas supplies from Nord Stream 1 to its pipeline.

Thursday, April 21

Germany will abandon Russian oil imports by the end of 2022, and then gas.

Germany will abandon Russian oil imports by the end of 2022, and then gas. Germany will halve Russian oil imports

Russia’s oil companies are losing profits due to export difficulties.

Russia’s oil companies are losing profits due to export difficulties. The Head of the Office of the President of Ukraine, Andriy Yermak, said that Russian companies’ average daily volume of oil refining decreased by 6% in the first half of April. According to Reut...

Tuesday, April 19

The EU Can Cut Russian Energy Dependence Sooner.

The EU Can Cut Russian Energy Dependence Sooner. Europe can reduce energy dependence on Russia quicker than previously estimated, said Prime Minister of Italy Mario Draghi. “Diversification is possible and feasible relatively quickly, shorter than w...

Monday, April 18

Ukrenergo has launched a new high-voltage line worth more than UAH 546M.

Ukrenergo has launched a new high-voltage line worth more than UAH 546M. In the west of Ukraine, state-owned Ukrenergo completed construction and put a 330 kV high voltage eclectic line into operation. The project’s cost was UAH 546M ($18M), reported Ukrenergo’s pre...

The EU is preparing an oil embargo after the second round of elections in France.

The EU is preparing an oil embargo after the second round of elections in France. The European Union is finally preparing a gradual oil embargo against Russia, which could be approved after the second round of the French presidential election on April 24. Until now, the oil embargo...

Friday, April 15

Ukrenergo has repaired more than half of the destroyed infrastructure in the Kyiv and Chernihiv regions.

Ukrenergo has repaired more than half of the destroyed infrastructure in the Kyiv and Chernihiv regions. The state company Ukrenergo has returned to operation almost 60% of the destroyed infrastructure of the leading networks in the Kyiv, Chernihiv, and Mykolaiv regions, and plans to complete the main wo...

Wednesday, April 6

Ukraine and British Ministers discuss fuel supplies to Ukraine

Ukraine and British Ministers discuss fuel supplies to Ukraine . Ukraine is interested in diversifying fuel supplies, including from the United Kingdom, said Energy Minister Herman Galushchenko. He stressed this during a conversation with the Secretary of State f...

Ukrenergo does not intend to default on its credit obligations.

Ukrenergo does not intend to default on its credit obligations. State-owned electricity transmission system operator Ukrenergo will pay all its debt obligations, said the company’s chairman, Volodymyr Kudrytsky. Furthermore, he stated, we will not default on...

Tuesday, April 5

The EU may impose an embargo on Russian oil and gas.

The EU may impose an embargo on Russian oil and gas. EU ambassadors plan to meet on April 6 to discuss a package of new sanctions against Russia in connection with Russia’s aggression against Ukraine, reported The Financial Times. Sanctions propos...

Ukraine maintains the balance of the country’s fuel supply.

Ukraine maintains the balance of the country’s fuel supply. Despite hostile shelling of oil depots, the government has managed to maintain a stable fuel supply, said the Prime Minister of Ukraine Denis Shmyhal. Two weeks ago, to support the oil products mark...

More than 30 countries have decided to release oil from reserves.

More than 30 countries have decided to release oil from reserves. US President Joe Biden said that more than 30 countries have joined a campaign to saturate the oil market to reduce energy prices and prevent Russia from “turning energy resources into weapons&...

Monday, April 4

Lithuania stops buying Russian gas.

Lithuania stops buying Russian gas. Lithuania will no longer import Russian gas to meet its domestic needs, said its energy ministry. Instead, Lithuania will now receive all its natural gas through the liquefied natural gas (LNG) termi...

Russia could end the year with a record surplus of $240B from energy exports.

Russia could end the year with a record surplus of $240B from energy exports. Due to record oil and gas prices, the main products of Russian exports, even with reduced energy sales, the aggressor state will receive about $321B in revenue. This is more than a third more than in ...

Friday, April 1

Russian invaders leave Chernobyl.

Russian invaders leave Chernobyl. The occupiers, who seized the Chernobyl nuclear power plant and other facilities in the Exclusion Zone, marched in two columns towards the Ukrainian border with Belarus, reported Energoatom. Then, th...

Germany is considering nationalizing the “daughters” of Gazprom and Rosneft.

Germany is considering nationalizing the “daughters” of Gazprom and Rosneft. The German Ministry of Economics is considering the nationalization of Gazprom’s and Rosneft’s divisions due to concerns over the security of the energy supply, reported Handelsblatt. Suc...

Thursday, March 31

Ukraine has lost 30% of its metallurgical capacity due to the war.

Ukraine has lost 30% of its metallurgical capacity due to the war. Ukraine’s metallurgical losses from the Russian war are 30-40% of their pre-war capacity, as stated by the General Director of Metinvest, Yuri Ryzhenkov. “Mariupol’s metallurgical plants alone h...

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