Ukrainian president calls on energy producers to hike output

Ukraine President Volodymyr Zelenskiy - Source Reuters

Ukrainian President Volodymyr Zelenskiy called on energy-producing countries on Saturday to increase output so that Russia cannot use its oil and gas wealth to “blackmail” other nations.

Addressing the Doha Forum international conference via video link, Zelenskiy said countries such as Qatar could make a contribution to the stabilization of Europe.

“They can do much to restore justice. The future of Europe depends on your effort. I ask you to increase the output of energy to ensure that everyone in Russia understands that no country can use energy as a weapon and blackmail the world,” he said in translated comments.

The month-long invasion of Ukraine by Russia, Europe’s top gas supplier, has sharpened concerns of disruption to energy supplies and increased scrutiny of European Union countries’ reliance on imported fossil fuels.

Zelenskiy also said no country is insured against shocks from disruptions to food supply happening because of Russia’s invasion of his country. Ukraine is one of the world’s largest grain producers.

“The world’s markets have not yet overcome from the repercussions of the pandemic, from the price shocks of food. No one is insured against these shocks and you cannot be insured if there is a physical scarcity of food,” he said.

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Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.