... to supply the Russian fuel market, while the remaining volume will be exported as crude oil. Such a 'maneuver' will help oil companies offset the costs incurred due to prolonged downtime at refineries," Tereshkin said. He explained that most Russian refineries are part of vertically integrated companies that operate under cross-subsidization schemes. For instance, part of the revenue from oil exports has often been used to modernize refineries since the 2010s. From a business perspective, it would be beneficial for these companies to temporarily reduce processing volumes and redirect some crude oil to the external market, the expert added. "This effect was observed in the first half of this year when companies ...

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... agreements with European countries to supply natural gas and reinforce the region’s energy security, especially amid declining Russian gas exports. However, Gazprom reports that portions of U.S. LNG originally bound for Europe have been diverted to other ... ..., where energy costs are historically sensitive to global shifts. Higher LNG prices not only place pressure on consumers and businesses but also amplify inflationary pressures across the European economy. With winter approaching, the potential for insufficient ...