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2022 Russian Crude Oil Price Cap Sanctions
As part of the sanctions imposed on the Russian Federation as a result of the Russo-Ukrainian War, on September 2, 2022, finance ministers of the G7 group of nations agreed to cap the price of Russian oil and petroleum products in an effort intended to reduce Russia's ability to finance its war on Ukraine while at the same time hoping to curb further increases to the 2021–2023 inflation surge. In 2022 the Russian Federation was cushioned against energy sanctions because of a global rise in oil and gas prices. The rationale for the price cap is to remove that added value so that revenues earned by Russia are restricted and should not rise if world oil and gas prices increase again in the future. In addition, it will complicate maritime oil shipments for Russia and further restrict the amount of oil Russia can sell and ship to customers, further reducing revenue. The 2022 Russian crude oil cap would be enforced by a maritime attestation that Russian crude was purchased below ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Russian Federation
Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the world, with its internationally recognised territory covering , and encompassing one-eighth of Earth's inhabitable landmass. Russia extends across Time in Russia, eleven time zones and shares Borders of Russia, land boundaries with fourteen countries, more than List of countries and territories by land borders, any other country but China. It is the List of countries and dependencies by population, world's ninth-most populous country and List of European countries by population, Europe's most populous country, with a population of 146 million people. The country's capital and List of cities and towns in Russia by population, largest city is Moscow, the List of European cities by population within city limits, largest city entirely within E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bloomberg News
Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg Television, Bloomberg Radio, ''Bloomberg Businessweek'', ''Bloomberg Markets'', Bloomberg.com, and Bloomberg's mobile platforms. Since 2015, John Micklethwait has served as editor-in-chief. History Bloomberg News was founded by Michael Bloomberg and Matthew Winkler in 1990 to deliver financial news reporting to Bloomberg Terminal subscribers. The agency was established in 1990 with a team of six people. Winkler was first editor-in-chief. In 2010, Bloomberg News included more than 2,300 editors and reporters in 72 countries and 146 news bureaus worldwide. Beginnings (1990–1995) Bloomberg Business News was created to expand the services offered through the terminals. According to Matthew Winkler, then a writer for ''The Wall Street Journal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lukoil
The PJSC Lukoil Oil Company ( stylized as LUKOIL or ЛУКОЙЛ in Cyrillic script) is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of extraction, production, transport, and sale of petroleum, natural gas, petroleum products, and electricity. It was formed in 1991 when three state-run, western Siberian companies named after the respective town in Khanty–Mansi Autonomous Okrug that each was based in, Langepasneftegaz, Urayneftegaz, and Kogalymneftegaz, merged. Its name is the combination of the acronym LUK (initials of the oil-producing cities of Langepas, Uray, Kogalym) and the English word "oil". Lukoil is the second largest company in Russia after Gazprom, and the country's largest non-state enterprise in terms of revenue, with ₽4,744 billion in 2018. In the 2020 Forbes Global 2000, Lukoil was ranked as the 99th-largest public company in the world. Internationally, it is one of the largest global producers of crud ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gas Condensate
Natural-gas condensate, also called natural gas liquids, is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the raw natural gas produced from many natural gas fields. Some gas species within the raw natural gas will condense to a liquid state if the temperature is reduced to below the hydrocarbon dew point temperature at a set pressure. The natural gas condensate is also called condensate, or gas condensate, or sometimes natural gasoline because it contains hydrocarbons within the gasoline boiling range, and is also referred to by the shortened name condy by many workers on gas installations. Raw natural gas may come from any one of three types of gas wells: * Crude oil wells: Raw natural gas that comes from crude oil wells is called ''associated gas''. This gas can exist separate from the crude oil in the underground formation, or be dissolved in the crude oil. Condensate produced from oil wells is often referred to as ''lease condens ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OPEC
The Organization of the Petroleum Exporting Countries (OPEC, ) is a cartel of countries. Founded on 14 September 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), it has, since 1965, been headquartered in Vienna, Austria, although Austria is not an OPEC member state. , the 13 member countries accounted for an estimated 44 percent of global oil production and 81.5 % of the world's proven oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so-called " Seven Sisters" grouping of multinational oil companies. The formation of OPEC marked a turning point toward national sovereignty over natural resources, and OPEC decisions have come to play a prominent role in the global oil market and international relations. The effect can be particularly strong when wars or civil disorders lead to extended interruptions in supply. In the 1970s, restrictions in oil production led to a dramatic r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Maritime Organization
The International Maritime Organization (IMO, French: ''Organisation maritime internationale'') is a specialised agency of the United Nations responsible for regulating shipping. The IMO was established following agreement at a UN conference held in Geneva in 1948 and the IMO came into existence ten years later, meeting for the first time in 1959. Headquartered in London, United Kingdom, IMO currently has 175 Member States and three Associate Members. The IMO's primary purpose is to develop and maintain a comprehensive regulatory framework for shipping and its remit today includes maritime safety, environmental concerns, legal matters, technical co-operation, maritime security and the efficiency of shipping. IMO is governed by an assembly of members which meets every two years. Its finance and organization is administered by a council of 40 members elected from the assembly. The work of IMO is conducted through five committees and these are supported by technical subcommitte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Volodymyr Zelenskyy
Volodymyr Oleksandrovych Zelenskyy, ; russian: Владимир Александрович Зеленский, Vladimir Aleksandrovich Zelenskyy, (born 25 January 1978; also transliterated as Zelensky or Zelenskiy) is a Ukrainian politician and former comedian and actor who has served as the sixth and current president of Ukraine since 2019. Born to a Ukrainian Jewish family, Zelenskyy grew up as a native Russian speaker in Kryvyi Rih, a major city of Dnipropetrovsk Oblast in central Ukraine. Prior to his acting career, he obtained a degree in law from the Kyiv National Economic University. He then pursued a career in comedy and created the production company Kvartal 95, which produced films, cartoons, and TV shows including the TV series ''Servant of the People'', in which Zelenskyy played the role of the Ukrainian president. The series aired from 2015 to 2019 and was immensely popular. A political party bearing the same name as the television show was created in March 201 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TASS
The Russian News Agency TASS (russian: Информацио́нное аге́нтство Росси́и ТАСС, translit=Informatsionnoye agentstvo Rossii, or Information agency of Russia), abbreviated TASS (russian: ТАСС, label=none), is a major Russian state-owned news agency founded in 1904. TASS is the largest Russian news agency and one of the largest news agencies worldwide. TASS is registered as a Federal State Unitary Enterprise, owned by the Government of Russia. Headquartered in Moscow, TASS has 70 offices in Russia and in the Commonwealth of Independent States (CIS), as well as 68 bureaus around the world. In Soviet times, it was named the Telegraph Agency of the Soviet Union (russian: Телегра́фное аге́нтство Сове́тского Сою́за, translit=Telegrafnoye agentstvo Sovetskogo Soyuza, label=none) and was the central agency for news collection and distribution for all Soviet newspapers, radio and television stations. After t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Urals Oil
Urals oil is a reference oil brand used as a basis for pricing of the Russian export oil mixture. It is a mix of heavy sour oil of Urals and the Volga region with light oil of Western Siberia. Other reference oils are Brent, West Texas Intermediate and Dubai. Urals brand oil is supplied through the Baku-Novorossiysk pipeline system and the Druzhba pipeline. Urals oil futures trade on Moscow Exchange. There was also an effort to trade it on NYMEX under the name of REBCO (Russian Export Blend Crude Oil); however, not a single trade was made. Prices for Urals grade oil are formed on the basis of the cost of Brent grade oil. Since the quality of Russian oil is lower, it costs less than the equivalent from the North Sea. The cost of Urals grade oil is 1-2 USD/barrel less than Brent. But - not always. Urals grade oil was traded in Northwestern Europe on June 25, 2020 at a premium to Brent of $2.35/bbl - a record in the entire history of monitoring since September 1994. Sin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Broadcasting Corporation
The Australian Broadcasting Corporation (ABC) is the national broadcaster of Australia. It is principally funded by direct grants from the Australian Government and is administered by a government-appointed board. The ABC is a publicly-owned body that is politically independent and fully accountable, with its charter enshrined in legislation, the ''Australian Broadcasting Corporation Act 1983''. ABC Commercial, a profit-making division of the corporation, also helps to generate funding for content provision. The ABC was established as the Australian Broadcasting Commission on 1 July 1932 by an act of federal parliament. It effectively replaced the Australian Broadcasting Company, a private company established in 1924 to provide programming for A-class radio stations. The ABC was given statutory powers that reinforced its independence from the government and enhanced its news-gathering role. Modelled after the British Broadcasting Corporation (BBC), which is funded by a tel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Insider
''Insider'', previously named ''Business Insider'' (''BI''), is an American financial and business news website founded in 2007. Since 2015, a majority stake in ''Business Insider''s parent company Insider Inc. has been owned by the German publishing house Axel Springer. It operates several international editions, including one in the United Kingdom. ''Insider'' publishes original reporting and aggregates material from other outlets. , it maintained a liberal policy on the use of anonymous sources. It has also published native advertising and granted sponsors editorial control of its content. The outlet has been nominated for several awards, but is criticized for using factually incorrect clickbait headlines to attract viewership. In 2015, Axel Springer SE acquired 88 percent of the stake in Insider Inc. for $343 million (€306 million), implying a total valuation of $442 million. In February 2021, the brand was renamed simply ''Insider''. History ''Busi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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