May 2022

REPowerEU is about rapidly reducing our dependence on Russian fossil fuels by fast forwarding the clean transition and joining forces to achieve a more resilient energy system and a true Energy Union.

The new pact, inked during a Qatari state visit to Germany, comes as Berlin looks to fast-track a number of new LNG import terminals to reduce its dependence on Russian gas imports.

The invasion of Ukraine by Russia has made it clear for all actors in Germany: diversification of gas imports is urgently needed.

Preliminary production figures for April 2022 show an average daily production of 1 871 000 barrels of oil, NGL and condensate.

U.S. Rig Count is up 14 from last week to 728, Canada Rig Count is unchanged from last week at 88.

Brent fell 59 cents, or 0.53%, to $111.45 a barrel , WTI fell 56 cents, or 0.5%, to $111.65 .

The price of OPEC basket of thirteen crudes stood at $112.04 a barrel on Thursday

В перспективе отказ ЕС от российской нефти приведёт лишь к перераспределению на рынке, а Россия направит свою нефть туда, откуда уйдёт сырьё для Европы.

China's seaborne Russian oil imports will jump to a near-record 1.1 million barrels per day (bpd) in May, up from 750,000 bpd in the first quarter and 800,000 bpd in 2021,

German industry is particularly anxious about energy-intensive factories, such as glass, steel, food or drug manufacturing, as well as the chemicals sector, that provide many of the building blocks for industry.