The United States may now be the world’s biggest crude producer, but the oil being produced in its prolific Permian basin is increasingly too light in density for domestic refiners Continue Reading
Russia doesn’t need oil prices to be too high and sees the $60-65 a barrel price—the price at which Brent Crude currently trades—as “quite satisfactory,” Russian President Vladimir Putin said Continue Reading
Royal Dutch Shell and Gazprom Neft have agreed to create a joint venture that will be exploring and developing oil fields in the Yamal region in Russia, the oil arm Continue Reading
Russian President Vladimir Putin on Thursday laid the onus on Saudi Arabia to make the case for continuing a supply cut agreement set to expire at month’s end, saying he Continue Reading
Russia’s Gazprom Neft said Thursday it and Shell have agreed to create a joint venture to develop fields in West Siberia with combined estimated reserves of 1.1 billion mt of Continue Reading
Lukoil CEO Vagit Alekperov said Thursday he saw no need for the OPEC/non-OPEC producer coalition to raise crude output, given the recent fall in oil prices, and indicated he would Continue Reading
Russia and China should boost their energy cooperation, including increasing their oil trade, which could lead to the establishment of new benchmarks and raise the two countries’ clout in the Continue Reading
FILE PHOTO: Russian Energy Minister Alexander Novak attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia, June 6, 2019. REUTERS/Maxim Shemetov/File Photo ST PETERSBURG (Reuters) – Russia’s Continue Reading
U.S. political pressure on Denmark is the main reason for delays on construction of the Nord Stream 2 gas pipeline to Europe, project chairman Gerhard Schroeder said on Friday. The Continue Reading
Europe saved $8 billion on its natural gas bill last year because surging U.S. shale production and a shake-up in EU energy markets forced Russia to change its gas pricing Continue Reading
