Sanctions against Russia - sure - but EU needs their...

Sanctions against Russia - sure - but EU needs their hydrocarbons.

http://www.eia.gov/countries/analysisbriefs/Russia/russia.pdf


And who buys Russian hydrocarbons... WESTERN EUROPE (& China)

84% of their 7.2Mmbopd went to European countries - particularly GERMANY @700Mbopd (check the chart)

Likewise Natural Gas exports with Germany (24%), Eastern Europe (24%), Turkey (19%), Italy (11%), UK (6%), France (5%) and other Western Europe (10%),


Can't see old Angela supporting EU initiative to boycott Russian Hydrocarbons - for that matter can't see the EU even putting forth such a proposal. Hollow sanctions such as travel bans ... who cares. Asset freezes may hurt a little.


Might not be as price disruptive as one thinks. Shooting war on the other hand....

How much of ROC's production is hedged and how much is spot?