RE:RE:RE:RE:RE:RE:Shell says it will stop buying Russian oil and natural gasI agree and I said it before, nothing but a full embargo of Russian imports is acceptable.
Unfortunately we have to sanction China too and Russia and China can trade everything with each other all day.
Good numbers for ENB next for Q1 for sure though..
GO Enbridge! ;-)
silkos wrote: Agree that pipelines are full.
Not sure if the oil majors were ready for production increases. Time will tell.
BP just joined Shell in boycotting Russian Oil. It's very likely that UK will ban Russian oil.
Next we should see a ban on Russian ships, goods and products in UE, US and Canada. I am sure UK & Australia will join in a heart bit.
Quintessential1 wrote: Iran simply does not have the production to replace Russian oil and Venezuala will take a lot of time to ramp up production.fast enough. Oil will spike more and Canada will be outputing more.
Venezuala has lots of issues and near term supply is one of them.
https://www.nytimes.com/2022/03/08/world/europe/venezuela-russia-oil.html Pipes will max out in Canada.
Go Enbridge! ;-)
silkos wrote: Iran and Venezuela will offer discounts to regain market share lost due to years of sanctions.
Canadian oil producers are not in the same basket.
Quintessential1 wrote: Why can't it be Canada?
Russian is going to sell its oil to China, North Korea, Belarus and oh yeah Eritrea at steep discounts.
The USA is banning Russsian oil imports today and everyone will follow suit when they do,
We will see Pipes maxed out and Rails maxed out...and no we are not maxed out on either yet.
Go Enbridge! ;-)
silkos wrote: This is big. I wonder if competitors will follow.
Last thing Russia wants is losing market share.
Question is what Russian oil will be replaced with? Oil from Iran or Venezuela? Can't be Canada.
FiddyFiddyOddzz wrote: https://www.cbsnews.com/news/shell-russia-ukraine-stop-buying-oil-natural-gas/