Statoil CEO Helge Lund discusses global oil and gas trends as well as his company’s response to recent geopolitical issues in this interview produced by Platts and hosted by Bill Loveless.
Further reading: Saudi Arabia Willing To Supply More Oil In Case Of Shortage
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Ukraine and its European allies hit out on Friday at a U.S. temporary waiver to allow countries to buy sanctioned Russian oil and petroleum products stranded at sea, with Ukrainian President Volodymyr Zelenskiy warning it would fund Moscow's war machine.
The US issued a second authorization letting countries buy more Russian oil that’s stuck on tankers due to sanctions, part of the White House’s push to prevent prices from surging. The temporary move, which widens a waiver given to India last week, only applies to oil already in transit and as such won’t provide significant financial support for the Russian government, Treasury Secretary Scott Bessent, in a social media post.
The second set of U.S. waivers on Russian oil and vessel tracking data shows both the Iranian and Russian shadow fleets are profiting off the U.S./Israel war against Iran. Lloyd’s list data tracked over half of the tankers and gas carriers traversing the Strait of Hormuz as Iranian. Container ships are also included.
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