BLOOMBERG - Russia has begun discussions with Exxon Mobil Corp. on possible new oil and gas projects, potentially creating a dilemma as the U.S. government mulls more sanctions against the country.
FT - “Total has great ambition in this country, we want to be the largest foreign oil and gas player here,” the company’s chief executive Patrick Pouyanné said on Monday at the launch of a factory outside Moscow.
PLATTS - "If sanctions were put on Rosneft or Lukoil or Gazprom, like what happened to Rusal, you would virtually shut down the energy systems of Europe," Dudley said.
REUTERS - The Nord Stream 2 gas pipeline is important to secure German energy supplies and Russia is a safe and reliable provider, Thomas Bareiss, Germany’s state secretary for energy, said.
PLATTS - 1.4 million b/d of Iranian oil supplies to leave the market by November, when the US sanctions go into force. Venezuela, which pumped 1.22 million b/d in August could see output fall to 1 million b/d in 2019. Politically unstable Libya also presents a supply risk.
REUTERS - Saudi Arabia, the United States and Russia can between them raise global output in the next 18 months to compensate for falling oil supplies from Iran and elsewhere, U.S. Energy Secretary Rick Perry said on a visit to Moscow on Friday.
PLATTS - Moscow also hopes to have its 55 Bcm/year Nord Stream 2 pipeline and its 31.5 Bcm/year TurkStream link ready to flow gas to Europe by the end of 2019, leaving only limited volumes for transit via Ukraine.
CNBC - "We can see that the pricing situation today depends not just on the supply/demand balance or the general economic situation but also on the uncertainty that we observe today in the global markets: the trade wars, the sanctions that the U.S. pursue," Novak said, speaking to CNBC's Geoff Cutmore at the Eastern Economic Forum (EEF) in Vladivostok, Russia.
BLOOMBERG - “Based on fundamentals, Russian sovereign risk is still extremely attractive for investors,” he said. “They’d be hard-pushed to find this kind of yield versus risk anywhere else.”
FT - Higher energy prices and a weakened rouble saw second-quarter profits soar at three of Russia’s largest oil and gas groups, underlining a strong earnings season for the country’s energy industry that has weathered international sanctions to reap strong earnings.
REUTERS - Ukraine government should consider looking for alternatives to natural gas supplies from Russia.
FT - The German official welcomed an agreement reached earlier this month between the Caspian littoral states — Russia, Iran, Kazakhstan, Azerbaijan and Turkmenistan — on a legal framework for sharing the Caspian, the world’s largest inland body of water.
PLATTS - "This has been discussed for a while with Russia's largest trading partners such as India and China. Even Arab countries are starting to think about it... If they do create difficulties for our Russian banks, all we have to do is replace [dollars],"
REUTERS - “This trade war is slowing down and destroying economic growth - and it creates new uncertainties,” Altmaier told Bild am Sonntag newspaper, adding that consumers suffered the most because higher tariffs were driving up prices.
REUTERS - The bill includes restrictions on new Russian sovereign debt transactions, energy and oil projects and Russian uranium imports, and new sanctions on Russian political figures and oligarchs.