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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
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Questions remain about how the phase-out will be implemented and enforced in practice
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A combination of geopolitical uncertainty and OPEC+ barrels has driven a renewed focus on building strategic oil stocks despite flagging demand
Arctic LNG comes in from the cold
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Russia’s fuel crisis: Difficult but not catastrophic
International and opposition media claim that two-fifths of the country’s refining capacity is offline, but the true situation is not so dire
Hungary defends Russian energy use
Claims the country lacks alternatives to Russian oil and gas may be exaggerated, although higher costs and reduced security of supply are legitimate concerns.
ExxonMobil’s Russian door remains ajar
While the US oil major has declined to return given the sensitivities over Ukraine, Sakhalin 1 and other energy projects are temptations that will not go away
Russia may defy production capacity doubters
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China’s role as oil buffer stock manager
The country’s intervention in global oil markets to stabilise prices could last well into 2026
Urumqi in Xinjiang province
China Kyrgyzstan Russia
Shi Weijun
Shanghai
20 October 2022
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China boosts Central Asian gas links

Beijing’s decision to expand the gas pipeline network linking it to Central Asia may threaten Russia’s eastern pivot

Pipechina has started construction on the fourth trunk of China’s West-East Pipeline (WEP) system, the state-owned company says. The route forms the backbone of the country’s gas supply infrastructure, including underpinning China’s ability to bring supply from Central Asia. The segment being built will run 1,745km from the Xinjiang regional capital of Urumqi to a terminal in Zhongwei county in China’s Ningxia region, where the three existing WEP trunks converge. WEP 4 will eventually be extended from Zhongwei to the financial hub of Shanghai, covering a total of 3,340km once all segments are completed. The WEP system is designed mainly to transport gas imported from Central Asia to the ener

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