Best in Energy – 9 March 2022

Saving oil in a hurry – an IEA guide

Shell halts spot Russian oil buying

Russia’s oil exports stuck at sea

Biden warns gasoline prices to rise

U.S. shale firms can’t boost output

U.S./Russia oil trade and sanctions

Europe must cut energy use ($BBG)

U.S. urges more shale output ($FT)

Qatar mediates U.S./Iran talks ($FT)

U.S./Venezuela talks to relax sanctions

U.S./Venezuela prisoner release ($FT)

LNG growth shifts from Asia to Europe

LME nickel contract fails and halted

Nickel hit by settlement fail ($BBG)

Russia to keep leased aircraft ($BBG)

U.S. IMPORTS of petroleum from Russia averaged 0.67 million b/d in 2021, mostly in the form of semi-processed oils from Russian refineries imported for further processing (0.35 million b/d) and crude petroleum (0.20 million b/d), with a small volume of finished products (0.12 million b/d). Replacing these items with oil sourced from other countries should be relatively straightforward given the small volumes involved. These items account for a modest share of Russia’s total exports and a small share of U.S. total imports. Banning U.S. oil imports from Russia is therefore primarily symbolic:

Published by

John Kemp

Energy analyst, public policy specialist, amateur historian