https://sputnikglobe.com/20230306/russian-price-cap-has-created-difficulties-for-operations-in-energy-markets-chevron-ceo-admits-1108097992.html
Russian Price Cap Has Created Difficulties for Operations in Energy Markets, Chevron CEO Admits
Russian Price Cap Has Created Difficulties for Operations in Energy Markets, Chevron CEO Admits
Sputnik International
The Russian price cap has created many obstacles in normal operations for global energy markets, Chevron CEO Mike Wirth said on Monday.
2023-03-06T18:09+0000
2023-03-06T18:09+0000
2023-03-06T18:09+0000
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"There's not a lot of swing capacity, there's not a lot of inventory capacity, so a little bit and the system normally optimizes within those parameters, but there's now a lot of constraints: you can't sell to this country, you can't buy from that country, can't insure," Wirth said during a panel discussion at CERAWeek. Wirth also said that he does not foresee Europe becoming a reliable consumer of Russian gas again. After Russia began its special military operation in Ukraine, the West actively searched for ways to limit Moscow’s energy-related income, notably from oil and gas. The effort culminated with a $60 price-cap imposed by G7 member states and Australia on December 5. In response to the price cap, Moscow banned the supply of Russian oil and petroleum products if contracts directly or indirectly provide for a price cap, in a decree signed by President Vladimir Putin in late December.
https://sputnikglobe.com/20230208/price-cap-on-russian-diesel-to-raise-costs-for-europe-disrupt-logistics-energy-expert-1107077628.html
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russian oil, russian gas, price cap on russian energy resources, chevron
russian oil, russian gas, price cap on russian energy resources, chevron
Russian Price Cap Has Created Difficulties for Operations in Energy Markets, Chevron CEO Admits
HOUSTON (Sputnik) - The Russian price cap has created many obstacles in normal operations for global energy markets, Chevron CEO Mike Wirth said on Monday.
"There's not a lot of swing capacity, there's not a lot of inventory capacity, so a little bit and the system normally optimizes within those parameters, but there's now a lot of constraints: you can't sell to this country, you can't buy from that country, can't insure," Wirth said during a panel discussion at CERAWeek.
8 February 2023, 12:00 GMT
Wirth also said that he does not foresee
Europe becoming a reliable consumer of Russian gas again.
After Russia began its special military operation in Ukraine, the West actively searched for ways to limit Moscow’s
energy-related income, notably from oil and gas. The effort culminated with a $60 price-cap imposed by G7 member states and Australia on December 5.
In response to the price cap, Moscow banned the supply of Russian oil and petroleum products if contracts directly or indirectly provide for a price cap, in a decree signed by President Vladimir Putin in late December.
