The world's biggest oil producers

Anna Fleck for Statista December 7, 2022

The United States is by far the world’s biggest producer of oil, having produced around 16.6mn barrels of oil on average per day in 2021, Statista reports.

Turkmenistan: A shining city in a book of records

Akhal-Teke: A Eurasianet Bulletin December 7, 2022

Russia is proposing a major reconfiguration of the Central Asian gas market. Eurasianet’s weekly Turkmenistan briefing.

Drop in Russia’s car sales continues in November with 62% slump

bne IntelliNews December 7, 2022

Sales of passenger cars and light commercial vehicles (LCVs) declined by 62% year on year in November to 46,403 vehicles, according to the Association of European Businesses that oversees the industry.

Is Russia putting additional pressure on Belarus to join the war?

bne IntelliNews December 7, 2022

Lukashenko's and Shoigu's latest meeting in Minsk has spurred new fears that Russia may be putting increased pressure on Belarus to join the war by putting boots on the ground.

Can Russia sneak gas into the EU via a Turkish gas hub?

bne IntelliNews December 6, 2022

Russia has been eagerly pushing for the further development of Turkey as a “gas hub” for its gas supplies to Europe. Analysts are asking if this simply a ruse to dodge sanctions and surreptitiously continue to export gas to EU members.

Latvia revokes Russian opposition TV station Dozhd’s broadcasting licence

bne IntelIiNews December 6, 2022

Following an on-air gaffe, Latvia's National Electronic Media Council (NEPLP) has cancelled Dozhd's (Rain's) licence for threatening national security.

Oil tanker jam forms off Turkey as Russian oil price cap disrupts markets

bne IntellliNews December 6, 2022

An oil tanker traffic jam has formed off the Turkish coast after the EU’s introduction of a price cap on global Russian crude supplies, the Financial Times reported on December 5. Turkish authorities are demanding new proof of full insurance cover.

Russian composite output stagnates as services PMI contracts in November

bne IntelliNews December 6, 2022

Despite the sharp improvement of the Russia Manufacturing Purchasing Managers’ Index™ (PMI) seen in November, continued contraction in the services sector has kept the composite output stagnating in the reporting month.

Roddy Scott Foundation providing education to the children of war-torn Pankisi Gorge

Ben Aris in Berlin December 6, 2022

Twenty years ago the young freelance photojournalist Roddy Scott was killed by Russian forces in the Pankisi gorge in Georgia, a refuge for terrorists and a transit point into neighbouring Chechnya during the war there.

Latest Russian missile attack stifled by Ukrainian Air Defence

Dominic Culverwell in London December 6, 2022

Russia fired more than 70 missiles at Ukraine on Monday, December 5, but Ukraine’s air defence unleashed an impressive performance and shot down over 60 projectiles, the Ukrainian Air Force tweeted on December 5.

Global wage growth fails to beat inflation for the first time in 20 years

Statista December 6, 2022

The global inflation crisis paired with lacklustre economic growth and an outlook clouded by uncertainties have led to a decline in real wages around the world, a new report published by the International Labour Organization (ILO) has found.

MOSCOW BLOG: Oil embargo day

Ben Aris in Berlin December 5, 2022

The EU’s oil embargo on importing Russian oil comes into effect today. The blanket ban on seaborne oil deliveries is softened by the oil price cap scheme, so that the EU can import oil from Russia provided it costs less than $60.

EU, G7 approve Russian oil price cap as embargo on country's crude comes into force

bne IntelliNews December 5, 2022

The EU and the G7 nations clinched a deal last week to fix the price of seaborne Russian crude oil exports at no more than $60 per barrel, aimed at crippling Moscow’s revenue stream while avoiding major disruption in the global oil market.

New START missile treaty suspended as tensions escalate between Russia and US

Ben Aris in Berlin December 4, 2022

Russia has called off what were supposed to be routine talks on implementing the new START missile treaty, signed by Russian President Vladimir Putin and US President Joe Biden in the first week after he took office in 2021.

Russian oligarch Mikhail Fridman arrested in London on money-laundering charges

Ben Aris in Berlin December 4, 2022

Sanctioned Russian oligarch Mikhail Fridman was arrested on suspicion of “numerous offences” at his multi-million-pound London home on December 3 but immediately released on bail.

How well will the EU’s oil embargo on Russia’s seaborne exports work?

Ben Aris in Berlin December 3, 2022

The EU’s oil embargo, contained in the sixth and eighth packages of sanctions, comes into effect on December 5 and is likely to severely disrupt Russia’s oil trade but not stop it.

Turkey’s Syria, Iraq air strikes conducted with knowledge of Russia, US, says academic

Akin Nazli in Belgrade December 3, 2022

Professor also says she expects Iran to carry out land operation in Iraqi Kurdistan.

Putin tells Scholz Russian strikes on Ukraine’s energy infrastructure inevitable, rejects Biden’s call for talks

bne IntelliNews December 2, 2022

Speaking to a Western leader for the first time since September, Russian President Vladimir Putin told German Chancellor Olaf Scholz that Russian strikes on Ukraine’s energy infrastructure were “inevitable,” and rejected US calls for talks.

bneGREEN: Energy efficiency investment turns the corner in 2022, but more is needed

Richard Lockhart in Edinburgh December 2, 2022

Global investment in energy efficiency could rise by 16% to $560bn in 2022, the International Energy Agency said, as governments and consumers respond to fuel supply disruptions and record-high energy prices.

ING: Europe faces stiff competition for natural gas

Warren Patterson head of commodities strategy at ING December 2, 2022

The collapse in European natural gas prices in recent months has created a false sense of security. While the current winter appears to be more manageable, the region will find it more difficult to build adequate storage for the 2023/24 winter.