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In pipelines we trust
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
Drone power: Ukraine escalates its war on Russian oil
Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
How Russia gains from the Hormuz supply shock
The US may be systemically stripping Russia of key geopolitical allies, but Moscow can reap rewards from the Hormuz crisis, both in the short and long term
Letter from Asia: The nuanced India-Russia oil picture
The South Asian consumer’s next move could tighten the Middle East oil market overnight
Arctic LNG 2 adds Arc7 to its shadow fleet
Having found a steady buyer in China for its sanctioned gas, the Russian project is positioned for nearly year-round operations, yet its 11-vessel ‘shadow fleet’ is still insufficient to achieve anywhere near capacity utilisation.
Explainer: What do Russia’s oil giants own overseas?
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
Tax policy will shape Russia’s oil future
The consensus among market observers is that the country’s oil output will fall in the long term. Yet few recognise how Moscow’s shifting tax regime is designed to keep the next barrel commercially viable
The curious case of oil-on-water
The market is facing being drowned in excess crude, but one caveat is that a large chunk is due to buyers reluctant to snap up sanctioned barrels
Lukoil loses its growth prospects
The Russian firm made a significant attempt to expand overseas over the past two decades but is now trying to divest its global operations
Explainer: How the EU will wean itself off Russian gas
Questions remain about how the phase-out will be implemented and enforced in practice
Russia Vladimir Putin
Maria Petrova
7 June 2019
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Druzhba's lasting impact

Oil contamination on a key Russian export pipeline that shocked the markets may echo long after the fuel has been cleaned up

The pollution of the Druzhba pipeline with organic chloride may impact future consumer demand for Urals blend, while Russia's image damage and reputation risk could also be reflected in a price discount, according to industry analysts. The crisis began on 19 April, when oil contaminated with highly corrosive organic chloride reached Belarus through the Druzhba pipeline, causing an equipment failure at the Belarusian Mozyr refinery. Diluting the ‘dirty oil' with other grades supplied to the plant by rail was unsuccessful. Ukraine and Poland, the Druzhba system's other transit countries to Europe, stopped receiving oil on 24 and 25 April. Built in the 1960s, Druzhba (or Friendship) is one of t

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