Russia’s oil production could peak as early as in 2021 due to high taxes and costs, provided there are no benefits for exploration or tax incentives introduced, Russian Energy Minister Continue Reading
Highlights Yuan, Euro most likely alternative currencies EC’s Juncker calls for greater euro role in energy trading More Russian producers preparing for trade in other currencies Moscow — Recent comments Continue Reading
Highlights Moves into sector following peers Shell and BP European majors moving into greener fuels Total also forms partnership with Nexans London — French major Total said Thursday it has Continue Reading
Oil steadied on Wednesday, as concerns that producers may fail to cover a shortfall in supply once U.S. sanctions on Iran come into force outweighed an increase in U.S. inventories. Continue Reading
Oil futures rose more than 1 percent on Tuesday on signs that OPEC would not be prepared to raise output to address shrinking supplies from Iran, and as Saudi Arabia Continue Reading
Iranian Oil Minister Bijan Zanganeh will not attend this month’s meeting of OPEC and non-OPEC states in Algeria, a ministry spokesman said on Tuesday. “Zanganeh will not attend the meeting Continue Reading
Oil prices were up early on Tuesday morning amid reports that Saudi Arabia would be comfortable letting oil prices rise above $80 a barrel and OPEC may not be rushing Continue Reading
“This is unproductive, this is wrong,” Russia’s Energy Minister Alexander Novak recently said about the U.S. sanctions on Iran, indicating that Moscow will continue to back its ally in the Continue Reading
Painful sanctions on Iran have demonstrated the long reach of the U.S. Treasury, forcing much of the globe to fall in line and cut oil imports from Iran despite widespread Continue Reading
In July, Saudi Arabia saw its highest crude oil stocks draw in eight months at 5.51 million barrels, after the Kingdom unexpectedly reduced its production compared to June while it Continue Reading
