Page 12 - FSUOGM Week 13 2021

FSUOGM PIPELINES & TRANSPORT FSUOGM

US imports more Russian oil in 2020

despite opposition to Nord Stream 2

US RUSSIAN oil shipments to the US hit a record day (bpd), or around 5% of Russia’s entire oil
high last year, according to calculations by production.
The increase in Bloomberg, while at the same time Washing- US oil refineries have increasingly turned to
Russian imports was ton was ramping up its warnings about Europe’s Russia following the imposition of sanctions on
the result of the loss energy dependence on Russia, Russia Business Venezuela, which as recently as 2018 accounted
of Venezuelan crude Today reported on March 24. for 6% of all US oil imports. Saudi Arabia’s pro-
because of sanctions. “Due to deprived access to Venezuelan crude duction cuts – part of an OPEC+ deal brokered
and reduced shipments from OPEC, Russia with Russia to support prices throughout the
has become the third-largest oil supplier to the pandemic – also left space in the market for Rus-
US last year (7% of the market share). The US' sian oil producers, analysts told Bloomberg.
increasing reliance on oil is seemingly at odds The surge in US demand for Russian energy
with its energy diplomacy,” Maria Shagina, a came as the outgoing Donald Trump admin-
post-doctoral fellow at the Geneva International istration was going into overdrive in its elev-
Sanctions Network, said in a tweet. enth-hour attempts to thwart the Nord Stream
Several commentators accused the US of 2 gas pipeline between Russia and Germany,
double standards, of increasing its reliance on citing concerns over Europe’s energy reliance on
Russia oil but at the same time actively work- Russia. The controversial pipeline – more than
ing against the completion of the Nord Stream 95% complete – is also opposed by many Eastern
2 Russian gas pipeline between the Yamal gas European states, and France recently joined calls
fields and Germany, as it would “undermine to ditch the project.
European energy security.” Analysts told Bloomberg that higher US
Russia leapfrogged Saudi Arabia to become imports from Russia have not raised concerns
the third-largest oil supplier to the US last year, in Washington, and they expect that once Saudi
accounting for 6.85% of all US imports. That Arabia begins to ramp up production, Russian
amounted to an average of 538,000 barrels per exports to the US could fall back. ™

P12 www. NEWSBASE .com Week 13 31•March•2021