Saudi Arabia Says Putin’s Comments on OPEC+ Deal Are ‘Incorrect’
The OPEC+ meeting to try to end the oil price war is unlikely to go ahead on Monday as previously expected, as Riyadh and Moscow trade barbs about who’s to Continue Reading
Saudi Arabia sharply rebukes Russia over oil price collapse
DUBAI, United Arab Emirates (AP) — Saudi Arabia sharply criticized Russia on Saturday over what it described as Moscow blaming the kingdom for the collapse in global energy prices, showing Continue Reading
Putin says oil supply cuts possible if all major producers take part
Vladimir Putin said a cut to global oil production of about 10m barrels a day is possible, but only if all major crude producers including the US join in the Continue Reading
Putin Says Russia Is Willing to Join Oil Production Cuts: Live Updates
Putin urges the United States to participate in oil output cuts. The United States should join with Russia and the Organization of the Petroleum Exporting Countries in cutting crude oil Continue Reading
Has Russia Reached Its Limit In The Oil Price War?
When Vladimir Putin was given a dire forecast of the economy under the cloud of a crippling coronavirus pandemic and a sharp fall in global demand for petroleum, the Russian Continue Reading
Putin extends Russia’s coronavirus non-working period until April 30
President Vladimir Putin on Thursday prolonged until April 30 a paid non-working period across Russia, stepping up measures to stem the spread of coronavirus just a week after the Kremlin Continue Reading
Texas Oil Rep To Discuss 10 Million Barrel Per Day Cut With Russia
Following US President Trump’s earlier tweet that he had discussed oil prices with Saudi Arabia’s Crown Prince, Texas Railroad Commissioner Ryan Sitton reports that he discussed with Russian Energy Minister Continue Reading
What 12 More Years of Putin Means for Russia
The Kremlin’s proposed constitutional amendments to extend Putin’s tenure could still set Moscow up for having to deal with a transition of power at a time of severe economic hardships…. Continue Reading
Putin takes coronavirus precautions as Moscow unveils tracking app
President Vladimir Putin is taking precautions to protect himself against coronavirus, the Kremlin said on Wednesday, as Moscow authorities launched a smartphone app to track people who have been ordered Continue Reading
Russia’s coronavirus cases jump to more than 3,500 in record daily rise
Russia’s coronavirus case tally jumped to 3,548 on Thursday, a record daily increase of 771, Russia’s crisis response centre said. Cases have been recorded in 76 of Russia’s more than Continue Reading
Trump Says World’s Biggest Oil Producers to Meet on Market Crash
President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of stanching an historic plunge in oil prices. Trump, speaking at the White House Tuesday, Continue Reading
Coronavirus: Russia includes jail terms to enforce crackdown
Strict lockdowns in Moscow have been followed up by regions across the country The Russian parliament has approved an “anti-virus” package of laws including up to seven years in prison Continue Reading
Moscow unveils coronavirus tracking app as national lockdown widens
MOSCOW (Reuters) – Authorities in Moscow unveiled a smartphone app designed to keep tabs on people who have been ordered to stay at home because of the coronavirus and Russia Continue Reading
Russia Won’t Boost Oil Output Amid Oversupply, Official Says
Russia doesn’t plan to increase crude production given the huge oversupply in the global market, according to a government official, a potentially dovish signal in the price war with Saudi Continue Reading
Rosneft Cancels Venezuela Oil Cargoes On Fresh Sanctions
Russia’s Rosneft has canceled VLCC cargoes scheduled to carry 5.7 million barrels of Venezuelan oil because of U.S. sanctions, Reuters reports , citing data from PdVSA, and shipping data from Continue Reading
Relief On The Horizon? Trump And Putin Discuss Oil Markets
US President Donald Trump and Russian President Vladimir Putin agreed on Monday to have energy officials from both countries discuss the dire state of the global oil market, the Kremlin Continue Reading
Putin, Trump discuss oil market, agree energy ministers to hold further consultations: Kremlin
Russian President Vladimir Putin discussed the situation on global oil markets with his US counterpart, Donald Trump, Monday, according to a statement issued by the Kremlin press service. “There was Continue Reading
Rosneft Sells Venezuelan Assets as Fight With U.S. Grows
Russian oil giant Rosneft PJSC sold its assets in Venezuela to the Russian government, in what may be a maneuver to avoid any U.S. sanctions in an escalating fight between Continue Reading
Russia’s Rosneft Plans to Sell All Assets Related to Venezuela
In an unexpected move, Russian state oil giant Rosneft announced that it would halt all activities in Venezuela and sell all its assets related to activities in the country. “Today, Continue Reading
Kremlin in virus crackdown after Russians rush for ‘long weekend’
A day after President Vladimir Putin announced a nine-day paid national holiday in a bid to stem the spread of Covid 19, hotel reservations in the seaside town of Sochi Continue Reading
Russia’s Plan To Bankrupt U.S. Shale Could Send Oil To $60
As soon as U.S. shale leaves the market, prices will rebound and could reach $60 a barrel, Rosneft’s Igor Sechin said recently. As fate would have it, in what many Continue Reading
Russia calls U.S. sanctions on Venezuela a ‘tool of genocide’ amid epidemic
Russia said on Friday U.S. “narco-terrorism” charges against Venezuelan President Nicolas Maduro were absurd, adding that sanctions on Caracas could become “a tool of genocide” amid the coronavirus outbreak. The Continue Reading
Putin Exploits Coronavirus to Justify Centralized Russian Power
The coronavirus pandemic has given Russian President Vladimir Putin a fresh opportunity to drive home for worried Russians a recurring theme of his long reign: Western liberal democracies are weak, Continue Reading
Coronavirus: Russia sees no epidemic but starts shutdown
Parks are closing across the country but many Russians are not sure what all the fuss is about Russia is beginning what Vladimir Putin called a “non-working week”, to try Continue Reading
Russian oil, gas output to continue smoothly despite new coronavirus measures
Russian oil and gas producers said Thursday that measures introduced so far to combat the spread of the coronavirus in Russia will not affect oil and gas production and supply. Continue Reading
Russia calls for new enlarged OPEC deal to tackle oil demand collapse
A new OPEC+ deal to balance oil markets might be possible if other countries join in, Kirill Dmitriev, head of Russia’s sovereign wealth fund said, adding that countries should also Continue Reading
Russia’s Self-Inflicted Oil Crisis
The timing could not have been worse for Russia to provoke a spat with Saudi Arabia over oil production quotas in early March. Moscow’s decision to withdraw from the OPEC+ Continue Reading
Putin, citing coronavirus, postpones vote on changes to extend his rule
Russian President Vladimir Putin on Wednesday postponed a nationwide vote on constitutional changes that would allow him to extend his rule, saying the health and safety of citizens was his Continue Reading
Why Is Russia’s Coronavirus Case Count So Low?
As the coronavirus continues to spread, Russia may have a hard time tracking people who have caught it at work, on the metro, or from relatives. In the past two Continue Reading
Russia’s Unexpected Advantage In The Oil Price War
While the ruble is now at its lowest level against the dollar in four years, the cheaper ruble has a silver lining for Russia’s oil producers in the oil price Continue Reading
The Cost Of The Oil Price War Is Growing For Russia
Russia’s economy needs about a trillion rubles, or roughly $12.7 billion a month over the next few months to emerge stable from the coronavirus pandemic and the oil price crash Continue Reading
Three Russian car plants to suspend production on COVID-19, lack of components
t least three car plants in Russia plant to suspend operations to prevent the spread of the coronavirus while they also struggle with a lack of components. Volkswagen Group Rus, Continue Reading
Russian official questions Vladimir Putin’s coronavirus data
Russia’s official data showing a low rate of infections caused by the novel coronavirus underestimate the real scale of the disease outbreak in the country, a senior Russian official has Continue Reading
Moscow’s coronavirus outbreak much worse than it looks, Putin ally says
The mayor of Moscow told President Vladimir Putin on Tuesday that the number of coronavirus cases in the Russian capital far exceeded the official figures, as Putin donned a protective Continue Reading
Russian Railways unloads record coal volume in Vladivostok region
The Russian Far East saw the highest ever coal unloading volumes set this week at terminals in the Vladivostok region, Russian Railways said Tuesday. Receive daily email alerts, subscriber notes Continue Reading
Russian Energy Minister Novak Said to Meet Oil CEOs Monday
Russia’s Energy Minister Alexander Novak will meet executives from the nation’s key oil companies Monday as global crude prices hover at their lowest in nearly two decades, according to a Continue Reading
Russia Moves In On European Gas Markets As Oil Prices Crash
Russia sees a silver lining in the oil price collapse—it now believes that the oil price war will help it win the war for natural gas market share in Europe. Continue Reading
Do Saudi Arabia And Russia Really Want To Kill U.S. Shale?
Since 2016, as an informal leader of the 13-strong non-OPEC group, Russia has been instrumental in the pricing of oil as Saudi Arabia, leading producer in the Organization of Petroleum Continue Reading
Russia Won’t Blink First In The Oil Price War
Russia will not be the one to first demand a stop to the oil price war with Saudi Arabia because Russian President Vladimir Putin is unlikely to yield to what Continue Reading
Will Putin Risky Oil Gamble Pay Off?
Every gambler knows That the secret to survivin’ Is knowing what to throw away And knowing what to keep ‘Cause every hand’s a winner And every hand’s a loser And Continue Reading
Putin Won’t Submit to What Is Seen as Saudi Oil-Price Blackmail
Russian President Vladimir Putin will refuse to submit to what the Kremlin sees as oil blackmail from Saudi Arabia, signaling the price war that’s roiling global energy markets will continue. The Continue Reading
Russia Admits Need to Bolster Oil But Does Not Reach Out to OPEC
With oil plummeting near an 18-year low amid unprecedented supply and demand shocks, Russia finally admitted: crude is too cheap. “Of course it’s a low price, we would like to see it Continue Reading
Russia Sees Oil & Gas Income Fall By Almost $40 Billion
Russia’s revenues from oil and gas will be US$39.5 billion (3 trillion rubles) lower than planned, due to the tumbling oil prices, Russian Finance Minister Anton Siluanov said on Wednesday, Continue Reading
Russia Needs Higher Oil Prices, But Won’t Surrender
With WTI crude seeing its third-worst trading day on record, Russia is beginning to feel the squeeze as it sees its oil and gas income tumble while it has to Continue Reading
Russia Scrambles To Save Its Economy As Oil Prices Collapse
Russia, hit by falling oil prices and the coronavirus outbreak , has announced the formation of a $4 billion fund as part of a package of measures to support the Continue Reading
Russia Sees Oil & Gas Income Fall By Almost $40 Billion
Russia’s revenues from oil and gas will be US$39.5 billion (3 trillion rubles) lower than planned, due to the tumbling oil prices, Russian Finance Minister Anton Siluanov said on Wednesday, Continue Reading
Russia bans entry to foreign nationals, closes schools
Russian authorities on Monday banned foreign nationals from entering the country, shut state schools and limited public gatherings in Moscow in an effort to curb the spread of coronavirus. The Continue Reading
Russia’s Top Court Approves Plan Allowing Putin to Stay in Power
Russia’s highest court endorsed President Vladimir Putin’s proposed constitution changes, removing one of the final hurdles to him potentially remaining in power until 2036. Mr. Putin last week backed an Continue Reading
Russia Makes Move On Antarctica’s 513 Billion Barrels Of Oil
Rosgeologia’s seismic surveys and other related work since the 70s to now indicate that there is at least 513 billion barrels of oil and gas equivalent in Antarctica, and Moscow Continue Reading
Oil Gamble Has Upended Putin’s Promise of Economic Revival
Until just a few weeks ago, Russian President Vladimir Putin was promising Russians their stagnant incomes would finally pick up along with the economy this year. But his oil market Continue Reading