Russia plans to propose to the OPEC/NOPEC allies next week that they reverse the group’s production to the October 2016 levels—the baseline for the cuts of most pact participants when Continue Reading
Coming off a record-setting year in terms of income, Russian oil company Gazprom Neft ‘s chairman said shareholders are now reaping the rewards. The board of directors at Russia’s third-largest Continue Reading
For the first week of June, Russia produced some 11.1 million barrels per day (bpd), far exceeding production limits outlined in the deal, Interfax news agency said on Saturday, citing Continue Reading
A major tax overhaul in Russia’s oil industry is about to start pressuring the earnings of major oil companies. Refiners will be hit hardest as the overhaul will increase the Continue Reading
Russia’s third-largest crude producer, Gazprom Neft, wants flexible quotas in the crude production cut deal, as it is ready to fully recover its frozen output within one to two months, Continue Reading
Russian energy company Gazprom said it received the necessary permit to advance construction of the Nord Stream gas pipeline through Swedish waters. “This is an important milestone for our project,” Continue Reading
Try as it might, Europe just can’t dump Russia. President Vladimir Putin was given a warm welcome in Vienna on Tuesday, the 50th anniversary of Austria becoming the first western Continue Reading
Riding improvements in the price of oil from recession to recovery, Russian President Vladimir Putin said Thursday the economy is on stable ground. Russia’s economy lingered in recession in 2016 Continue Reading
The Russian energy and finance ministries agreed with oil companies to start cutting the export duty on crude gradually, to bring it from the current 30 percent to zero over Continue Reading
U.S. major ExxonMobil and Russian energy company Rosneft ( ROSN.MM ) expect their future joint project to produce more than 6.2 million tonnes of liquefied natural gas per year, Interfax Continue Reading
