What will happen to API standards in Russia

11.03.2022       

Many oil and gas projects require the use of equipment and materials that meet the requirements of the American Petroleum Institute (API). How Russian companies will interact with API under the sanctions is still not very clear to many market participants. Mike Sommers, President and CEO of the American Petroleum Institute (API), made a statement last Wednesday. The announcement came immediately after the White House announced a ban on the import of Russian crude oil and petroleum products into the United States. Sommers supported the US government and noted: " The industry has already taken significant and significant steps to resolve the relationship, both in respect of assets in Russia and in relation to imports of Russian crude oil and petroleum products. We share the goal of reducing dependence on foreign energy sources and urge policymakers to strengthen American energy leadership and expand domestic production to counter Russian influence in global energy markets.

Experts explain that they cannot revoke the license itself (API calls its certificate a license, since it gives the right to use the API monogram). But, during the next inspection, they may refuse to inspect, thereby the licenses will not be renewed. In addition, the API at a meeting of its council (there from Russia includes Since 1924, the American Petroleum Institute has been a cornerstone in setting and maintaining standards for the global oil and gas industry. Standards improve the safety of industry operations, guarantee quality, and help reduce costs. API headquarters on Massachusetts Avenue in Washington.

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