This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6243573.stm
The article has changed 18 times. There is an RSS feed of changes available.
| Version 12 | Version 13 |
|---|---|
| Russia 'forced into oil shutdown' | Russia 'forced into oil shutdown' |
| (30 minutes later) | |
| Russia has said the decision to stop pumping oil through a key pipeline to Europe was out of its hands. | Russia has said the decision to stop pumping oil through a key pipeline to Europe was out of its hands. |
| The comments came as officials from Belarus and Russia began talks aimed at resolving an energy dispute which led to the pipeline shutdown. | The comments came as officials from Belarus and Russia began talks aimed at resolving an energy dispute which led to the pipeline shutdown. |
| Russia has been condemned by the European Union for cutting off its oil supplies without consultation. | |
| The move was dubbed "unacceptable" and one that "destroyed trust" by German chancellor Angela Merkel. | The move was dubbed "unacceptable" and one that "destroyed trust" by German chancellor Angela Merkel. |
| Ms Merkel also said the current conflict illustrated that Europe's energy sources should be more diverse. | Ms Merkel also said the current conflict illustrated that Europe's energy sources should be more diverse. |
| European Commission President Jose Manuel Barroso had said earlier that energy companies should not be allowed to cut off oil supplies unannounced. | European Commission President Jose Manuel Barroso had said earlier that energy companies should not be allowed to cut off oil supplies unannounced. |
| However, Russian Energy Minister Viktor Kristenko the row with Belarus which led to the pipeline closure constituted a "force majeure" - which means events are beyond the country's control and it is free of its obligations. | However, Russian Energy Minister Viktor Kristenko the row with Belarus which led to the pipeline closure constituted a "force majeure" - which means events are beyond the country's control and it is free of its obligations. |
| Supply questions | Supply questions |
| Russia stopped oil exports to Belarus on Monday - halting exports to Germany, Poland and beyond - accusing Minsk of stealing oil. | Russia stopped oil exports to Belarus on Monday - halting exports to Germany, Poland and beyond - accusing Minsk of stealing oil. |
| It's necessary to secure the interests of Russian companies that have obviously encountered losses Vladimir Putin Q&A: Pipeline shutdown Analysis: Oil row | It's necessary to secure the interests of Russian companies that have obviously encountered losses Vladimir Putin Q&A: Pipeline shutdown Analysis: Oil row |
| The European Commission is convening its oil supply group on Thursday to discuss the impact of the shut-off, amid reports that some refiners are now being affected. | The European Commission is convening its oil supply group on Thursday to discuss the impact of the shut-off, amid reports that some refiners are now being affected. |
| Meanwhile, Russian president Vladimir Putin has told his government to do everything in their power to protect the interests of its oil customers. | Meanwhile, Russian president Vladimir Putin has told his government to do everything in their power to protect the interests of its oil customers. |
| However, he has also warned that the country may have to cut oil output - which some experts suggest is a sign he hoping to force a Belarusian climb down. | However, he has also warned that the country may have to cut oil output - which some experts suggest is a sign he hoping to force a Belarusian climb down. |
| "It's necessary to secure the interests of Russian companies that have obviously encountered losses," Mr Putin added. | "It's necessary to secure the interests of Russian companies that have obviously encountered losses," Mr Putin added. |
| 'No threat' | 'No threat' |
| Despite the pipeline closure, European markets should be able to cope with the drop in exports, the International Energy Agency (IEA), a multilateral energy think-tank said. | Despite the pipeline closure, European markets should be able to cope with the drop in exports, the International Energy Agency (IEA), a multilateral energy think-tank said. |
| European legislation requires member states to hold emergency stocks, which the European Commission said stood at more than 120 days. | European legislation requires member states to hold emergency stocks, which the European Commission said stood at more than 120 days. |
| The IEA added that even if the shut-off was a prolonged one, refineries "could source crude supplies from alternative routes, and some of them are already organising alternative supplies". | The IEA added that even if the shut-off was a prolonged one, refineries "could source crude supplies from alternative routes, and some of them are already organising alternative supplies". |
| Azerbaijan is also in dispute with Russia and has suspended oil exports to Russia following a pricing dispute with state-backed gas giant Gazprom. | Azerbaijan is also in dispute with Russia and has suspended oil exports to Russia following a pricing dispute with state-backed gas giant Gazprom. |
| Row deepens | Row deepens |
| Russia has been pushing prices higher and also started to charge duties on its crude oil shipments. | Russia has been pushing prices higher and also started to charge duties on its crude oil shipments. |
| Russia's moves prompted Belarus to impose a transit tax on the Russian oil being shipped through pipelines that crossed its territories. | Russia's moves prompted Belarus to impose a transit tax on the Russian oil being shipped through pipelines that crossed its territories. |
| It then launched a legal action against Transneft when the Russian oil pipeline monopoly refused to pay the charges. | It then launched a legal action against Transneft when the Russian oil pipeline monopoly refused to pay the charges. |
| Belarus has said it is ready to negotiate over its decision to introduce a $45 (£23) per tonne charge for oil shipped through its territory. | Belarus has said it is ready to negotiate over its decision to introduce a $45 (£23) per tonne charge for oil shipped through its territory. |
| The latest energy wrangle comes almost a year after deliveries of Russian natural gas to much of Western Europe were disrupted during a dispute over pricing between Russia and Ukraine. | The latest energy wrangle comes almost a year after deliveries of Russian natural gas to much of Western Europe were disrupted during a dispute over pricing between Russia and Ukraine. |