Russia’s Novatek now a world player with Yamal LNG
Russian energy company Novatek said a new era for one of the world’s largest gas suppliers has begun with the start of LNG operations on the Yamal Peninsula. Novatek said Continue Reading
Saudi Arabia and Russia reach compromise on oil pact: Kemp
Ministers from OPEC and their allies have agreed to extend their production pact all the way to the end of 2018 but with a review in June that will take Continue Reading
Oil in mid-$60 per barrel range fair, Russian company says
A price range for crude oil of between $60 and $65 per barrel is a good point on which to base a budget, the head of Russian oil company Lukoil Continue Reading
Russia Ups Oil Price Forecast For 2018
Russia’s Economy Ministry will increase its forecast for the price of the country’s Urals oil blend for 2018, following the extension of the OPEC/non-OPEC production cut agreement extension, announced yesterday Continue Reading
Lukoil CEO says oil markets won’t overheat
Oil markets will not overheat as they did during a price spike in the last decade as global demand is rising fast and the alliance of OPEC and non-OPEC countries Continue Reading
OPEC, Russia agree oil cut extension to end of 2018
OPEC and non-OPEC producers led by Russia agreed on Thursday to extend oil output cuts until the end of 2018 as they try to finish clearing a global glut of Continue Reading
Russia sees poverty as a ‘striking problem’
Russian Prime Minister Dmitry Medvedev says poverty is a “striking problem” in the country. Russia, whose economy relies heavily on oil and natural gas revenue, needs to take “real steps” Continue Reading
Denmark passes law that could ban Russian pipeline from going through its waters
Denmark passed a law on Thursday that could allow it to ban Russia’s Nord Stream 2 gas pipeline from going through its waters. The measure allows the government to ban Continue Reading
Exclusive: Rising Russian Sakhalin-1 oil output may threaten OPEC deal compliance
Oil output from Russia’s Sakhalin-1 project is set to rise by about a quarter to 250,000-260,000 barrels per day (bpd) from January, sources with knowledge of the plan said, signaling Continue Reading
Russia expects to keep oil output flat at 550 million T until 2035: minister
Russia plans to keep its oil production broadly unchanged at around 550 million tonnes per year, or 11 million barrels per day, until 2035, Russian Energy Minister said in an Continue Reading