Latest news with #Gazprom
Time of India
14 hours ago
- Business
- Time of India
Dutch Court Frees Gazprom Assets, Citing State Immunity In Blow To Ukraine's Legal Offensive
/ Jul 23, 2025, 11:44PM IST A Dutch court has overturned the seizure of Russian energy giant Gazprom's assets in the Netherlands, dealing a blow to Ukraine's efforts to seek compensation for war-related damages. The ruling cited state immunity, which protects foreign governments from being sued without consent. Ukrainian agricultural firms had targeted Gazprom shares in Dutch energy companies. Watch
Bloomberg
16 hours ago
- Business
- Bloomberg
Russia Pumps Less Gas as China Fails to Offset Lost Europe Flows
Russia's gas output declined in the first half of the year as higher exports to China and increased domestic demand failed to make up for lost flows to Europe via Ukraine. The nation produced 334.8 billion of natural and associated gas through June, down 3.2% from the same period a year ago, according to Bloomberg calculations based on industrial output data from the nation's Federal Statistics Service. Russia's energy giant Gazprom PJSC accounts for nearly two thirds of Russia's gas output.
Malaysia Sun
20 hours ago
- Business
- Malaysia Sun
Slovak state gas firm eyes full Russian supply Bloomberg
Bratislavas energy giant plans to tap Gazprom for all imports, citing cost and competitiveness, the outlet has said Slovakia's largest natural gas company is planning to turn to Russia for 100% of its supplies next year, Bloomberg has reported. Company officials cited cost benefits as EU countries face a ban on spot purchases of Russian energy, the outlet said. The EU aims to phase out Russian energy imports by the end of 2027 as part of its RePowerEU strategy. The plan includes a ban on new pipeline and LNG contracts with Moscow, as well as an end to imports under existing spot agreements. However, the scheme has faced pushback from Slovakia and Hungary. Both countries are expected to receive transitional exemptions, enabling them to continue to uphold long-term contracts with Gazprom. The ban, set to take effect in January, could free up additional pipeline capacity for Slovakia's Slovensky plynarensky priemysel (SPP) and Hungary's MVM Magyar Villamos Muvek, the outlet said on Monday. "Russian gas is the most cost-effective for us, which is why we prioritize it," Michal Lalik, SPP's trade director, told Bloomberg. "We could be buying 100% of our needs, that's about 8 million cubic meters per day." Last week, Slovak Prime Minister Robert Fico said Bratislava had accepted guarantees from the European Commission to limit the impact of a halt in Russian gas supplies. As a result, Bratislava lifted its veto on the EU's 18th package of sanctions against Russia. Slovakia has resisted the EU's push to sever energy ties with Russia, warning of severe economic consequences. Fico has condemned the bloc's plan as "imbecilic," saying it would undermine Slovakia's energy security and destabilize the wider EU. Slovakia, which still receives Russian gas via TurkStream under a long-term contract with Gazprom through 2034, warns that losing access to cheaper supplies would harm its competitiveness. Without Turkstream, Slovakia would be forced to rely on western supply routes - mainly via Germany, Austria, and the Czech Republic - leading to higher transit costs. "Price disparities within the supposedly unified European energy market will distort competition and severely weaken the position of Slovak companies," said Roman Karlubik, vice president of the Federation of Employers' Associations. (
Russia Today
21 hours ago
- Business
- Russia Today
Slovak state gas firm eyes full Russian supply
Slovakia's largest natural gas company is planning to turn to Russia for 100% of its supplies next year, Bloomberg has reported. Company officials cited cost benefits as EU countries face a ban on spot purchases of Russian energy, the outlet said. The EU aims to phase out Russian energy imports by the end of 2027 as part of its RePowerEU strategy. The plan includes a ban on new pipeline and LNG contracts with Moscow, as well as an end to imports under existing spot agreements. However, the scheme has faced pushback from Slovakia and Hungary. Both countries are expected to receive transitional exemptions, enabling them to continue to uphold long-term contracts with Gazprom. The ban, set to take effect in January, could free up additional pipeline capacity for Slovakia's Slovensky plynarensky priemysel (SPP) and Hungary's MVM Magyar Villamos Muvek, the outlet said on Monday. 'Russian gas is the most cost-effective for us, which is why we prioritize it,' Michal Lalik, SPP's trade director, told Bloomberg. 'We could be buying 100% of our needs, that's about 8 million cubic meters per day.' Last week, Slovak Prime Minister Robert Fico said Bratislava had accepted guarantees from the European Commission to limit the impact of a halt in Russian gas supplies. As a result, Bratislava lifted its veto on the EU's 18th package of sanctions against Russia. Slovakia has resisted the EU's push to sever energy ties with Russia, warning of severe economic consequences. Fico has condemned the bloc's plan as 'imbecilic,' saying it would undermine Slovakia's energy security and destabilize the wider EU. Slovakia, which still receives Russian gas via TurkStream under a long-term contract with Gazprom through 2034, warns that losing access to cheaper supplies would harm its competitiveness. Without Turkstream, Slovakia would be forced to rely on western supply routes – mainly via Germany, Austria, and the Czech Republic – leading to higher transit costs. 'Price disparities within the supposedly unified European energy market will distort competition and severely weaken the position of Slovak companies,' said Roman Karlubik, vice president of the Federation of Employers' Associations.
Reuters
a day ago
- Business
- Reuters
Equinor Q2 core profit down 13% on weaker oil price
OSLO, July 23 (Reuters) - Equinor's ( opens new tab second-quarter profit fell as expected by 13% from a year earlier, its earnings report showed on Wednesday, as declining oil prices outweighed a rise in the price of gas. The Norwegian energy group's adjusted earnings before tax for April-June fell to $6.54 billion from $7.48 billion a year earlier, in line with the $6.53 billion predicted in a poll, opens new tab of 21 analysts compiled by the company. Equinor maintained a projection that its oil and gas output will grow by 4% this year compared to 2024 and kept its forecast for capital expenditure in 2025 of $13 billion. "We are on track to deliver production growth in 2025 in line with our guidance," CEO Anders Opedal said in a statement. In February, Equinor followed rivals such as Shell (SHEL.L), opens new tab and BP (BP.L), opens new tab in promising higher oil and gas output while scaling back investment in renewables, citing challenging market conditions for the green energy transition. Equinor in the second quarter pumped 2.1 million barrels of oil equivalent per day (boed), slightly ahead of expectations in the analyst poll for 2.06 million boed, and up from 2.05 million boed a year earlier. The company in 2022 overtook Russia's Gazprom ( opens new tab as Europe's biggest supplier of natural gas when Moscow's invasion of Ukraine upended decades-long energy ties. Equinor's share price has declined by 1.5% so far this year, lagging a 10% rise in the broader European energy stock index (.SXEP), opens new tab. The company's oil sold for an average price of $63.0 per barrel in the second quarter, down 19% from a year earlier, while its European piped gas price rose 21% to $12 per million British thermal units. The majority state-owned company maintained its quarterly dividend at $0.37 per share, and confirmed plans to return to shareholders a total of $9 billion this year, including $5 billion in share buybacks.
