I believed it was notabled last night
Cutting Russia’s Oil Flow To Europe Would Be A Disaster
By Tsvetana Paraskova - Feb 12, 2022, 6:00 PM CST
Russia, the world’s second-largest oil exporter after Saudi Arabia, exports around 5 million barrels per day (bpd) of crude oil. Nearly half of it, or 48 percent, went to European countries in 2020, according to data from the U.S. Energy Information Administration (EIA). Europe, particularly refineries in Germany, the Netherlands, and Poland, take 48 percent of all Russian crude oil exports.
So, Europe is Russia’s main market for its oil and natural gas exports, and by extension, Europe is its main source of revenue.
Crude oil and natural gas revenue accounted for 43 percent, on average, of the Russian government’s total annual revenue between 2011 and 2020, according to data compiled by the EIA.
On the other hand, Russia is the single largest external supplier of crude, natural gas, and solid fuel to the European Union.
Russia accounted for 26.9 percent of European Union crude oil imports and 41.1 percent of the natural gas imports in 2019, the last pre-pandemic year, Eurostat data shows. Russia is the single largest supplier of oil, the fuel most used in the EU’s final energy consumption. Petroleum products, such as heating oil, gasoline, and diesel fuel, represent 41 percent of final energy consumption in the EU, according to Eurostat.
In 2021, Russia remained the largest supplier of natural gas and petroleum oils to the EU.
Full article:
https://oilprice.com/Energy/Energy-General/Cutting-Russias-Oil-Flow-To-Europe-Would-Be-A-Disaster.html
Seem to recall Ruger started offering banana mags in the 80s
I grabbed these
>>15742539 Congressional candidate Martin Hyde threatens cop's career during traffic stop (video)
>>15742564 President Trump won the 2022 Presidential Straw Poll at CPAC this weekend. His closest challenger was Governor Ron DeSantis.
>>15742584, >>15742601 Biden Admin. instructs Americans to social distance and wear masks in the event of a Nuclear Fallout
>>15742638 Clinton Foundation and Government of Ukraine
>>15742673 USNI: International Polar Bear Day. in 2003, USS COLORADO was not eaten
>>15742692 Jack Posobiec tweet: Biden claims he's made things better but people are "psychologically" unable to feel "happy"
>>15742757 SAG Awards: Celebrities Party Maskless Around Face-Covered Crew
>>15742809 Putin does a last min unexpected walkon at the WEF, Jan 27, 2021 (video)
>>15742811 Reminder: Q Drops 861, 3590, 3764, 3836 all point to Ukraine
>>15742813 New Swedish Study finds, that mRNA could alter human DNA!
>>15742821 Igor Kolomosky and connections to Debbie and Robert Powell
>>15742850, >>15742869 Europe depends on Russian oil and gas exports
Yandex says:
Russia penetrates deeply into the rectum of the New World Order. They will be satisfied with their death.
OOOPS
BP Abandons $25B In Russian Oil Retreat
Reuters February 27, 2022
By Ron Bousso and Dmitry Zhdannikov (Reuters) – BP is abandoning its stake in Russian oil giant Rosneft in an abrupt and costly end to three decades of operating in the energy-rich country, marking the most significant move yet by a Western company in response to Moscow’s invasion of Ukraine.
Rosneft accounts for around half of BP’s oil and gas reserves and a third of its production and divesting the 19.75% stake will result in charges of up to $25 billion, the British company said, without saying how it plans to extricate itself.
“I have been deeply shocked and saddened by the situation unfolding in Ukraine and my heart goes out to everyone affected. It has caused us to fundamentally rethink bp’s position with Rosneft,” BP BP.L Chief Executive Bernard Looney said.
The rapid retreat represents a dramatic exit for BP, the biggest foreign investor in Russia, and puts the spotlight on other Western companies with operations in the country including France’s TotalEnergies TTEF.PA and Britain’s Shell SHEL.L, amid an escalating crisis between the West and Moscow.
It also underscores growing pressure from Western governments on their companies to curtail operations in Russia as they widen a net of economic sanctions against Moscow.
British Business Secretary Kwasi Kwarteng, who on Friday had expressed “concern” over BP’s Rosneft, welcomed the decision.
“Russia’s unprovoked invasion of Ukraine must be a wake up call for British businesses with commercial interests in (President Vladimir) Putin’s Russia,” Kwarteng said on Twitter.
Rosneft ROSN.MM blamed BP’s decision on “unprecedented political pressure,” Russian news agencies reported, saying 30 years of successful cooperation had been ruined.
Susannah Streeter, senior investment analyst at British retail stock broker Hargreaves Lansdown, said it will be “highly difficult” for BP “to recover anywhere near what was considered to be the full value” of Rosneft.
Last week, Looney said that BP was sticking to its Russian business and would comply with any Western sanctions on Moscow.
Earlier, Putin put Russia’s nuclear deterrent on high alert in the face of Western reprisals for his invasion of Ukraine, which included blocking access to the SWIFT international payment system for some Russian banks.
And Norway’s $1.3 trillion sovereign wealth fund, the world’s largest, will divest its Russian assets after the Ukraine invasion, its prime minister said.
DIVIDEND BLOW
BP said its move and financial hit will not impact its short and long term financial targets within its strategy to shift away from oil and gas to low-carbon fuels and renewables energy.
But Hargreaves Lansdown’s Streeter said a write down of this magnitude is “likely to limit the extent to which BP can continue to accelerate its transition towards renewables.”
Looney and his predecessor as CEO Bob Dudley will both step down from the board of Rosneft, which BP acquired a shareholding in as part of its $12.5 billion TNK-BP stake sale in 2013.
BP held a board meeting on Friday and another on Sunday where the decision to quit Rosneft, as well as two other joint ventures BP has with Rosneft in Russia, was taken, a spokesperson for the company said.
It will take an $11 billion foreign exchange non-cash charge after the exit from Rosneft, which BP will no longer include in its accounts. BP said it also expects a second non-cash charge of up to $14 billion, for the “carrying value” of Rosneft.
BP received revenue from Rosneft in the form of dividends which totalled around $640 million in 2021, roughly 3% of its overall cash flow from operations.
The company currently has around 200 employees in Russia, most of whom are local staff, the BP spokesperson said.
Many other Western energy companies have operations in Russia, including TotalEnergies which holds a 19.4% Novatek NVTK.MM stake and 20% of the Yamal LNG project.
“In the current environment any European or American company with assets in Russia must be considering similar moves,” Eurasia Group analyst Henning Gloystein told Reuters.
https://gcaptain.com/bp-abandons-russian-oil/
How about these?
>>15742952, >>15743011 Media reports Ukrainian civilians taking up arms, images show wood and cardboard weapons
>>15742976 Alex Soros tweets welcome Pelosi to OpenSociety Foundation and European Council on Foreign Affairs dinner, Munich
>>15742992 Ukrainian Parliament Member "Ready to Fight" (mp4)
>>15743022 Prof. Klaus Schwab congratulated Saudi Arabia on inaugurating the 4th Industrial Revolution Center
So you calling us slackers?
two months ago the ones talking up TS the most was /halfmind/
The good guys took over, but fell free to return to /pol/ and trouble us no further
I'm warm fuzzy all over
Been around for years, and you smell like an oss minion
Take a closer look, the Kalishnikovs are made of wood