Oil rose to a record $139 per barrel due to a possible ban on supplies to the US from Russia
15:34 07.03.2022 4583
Oil rose in price on Monday to its highest level since 2008, reaching almost $140 per barrel, after reports of a possible US ban on its imports from Russia, Interfax reports.
The United States, along with its allies in Europe, is «actively discussing» the possibility of not importing Russian oil, Secretary of State Anthony Blinken said in an interview with NBC.
Washington can go on an embargo without the participation of European allies, two Bloomberg sources said. At the same time, no decision has yet been made on this issue.
The House of Representatives of Congress is studying the possibility of developing a bill to ban the import of Russian oil, said Speaker of the Lower House Nancy Pelosi.
Russia accounts for roughly 3% of US oil imports, official US data show.
Against the background of statements from Washington, futures for Brent oil rose by 18% in early trading on Monday and at one point exceeded $139 per barrel. At 07:30 Moscow time, the price of contracts is about $129 per barrel.
Analysts at JPMorgan Chase & Co. Believe that Brent could reach $185 per barrel by the end of the year if supply disruptions from Russia continue.
Refined products were in the lead in the auctions
At the auction of the State Commodity and Raw Materials Exchange of Turkmenistan, 47 transactions were registered last week.
UAE Minister of State emphasizes the growing role of Turkmenistan in global energy security
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At the Galkynysh field, annual production may reach up to 200 billion cubic meters of gas
In the future, with the implementation of seven stages of development of the giant Galkynysh field, the annual production of natural gas will reach about 200 billion cubic meters of “blue fuel”. This was stated in the speech of the head of the laboratory of the Scientific Research Institute of Natural Gas of the State Concern “Turkmengas” Irina Luryeva at the International Forum on attracting investments in the energy sector of Turkmenistan in Dubai.
The President of Turkmenistan noted the importance of further increasing natural gas production volumes
On May 31, President Serdar Berdimuhamedov held a regular meeting of the Cabinet of Ministers via the digital system, at which topical issues in the life of the country were discussed.
Gurbanguly Berdimuhamedov instructed to find a way to extinguish the gas crater in Darvaza
Turkmen President Gurbanguly Berdimuhamedov, at a government meeting held last Friday via video link, raised the issue of finding a solution to the long-standing problem associated with a burning gas crater in Darvaza.