Russia sees slow economic growth irrespective of oil prices
Even if crude oil prices move above $60 per barrel, the Russian economy likely won’t expand much more than 1 percent, the head of the central bank said. Russia’s economy Continue Reading
When Will Russia Run Out Of Oil?
On a global level, 2015 and 2016 marked the lowest level of new conventional oil discoveries since 1952. In 2016, only 3.7 billion barrels of conventional oil were discovered, roughly Continue Reading
Gazprom boasts of expanding gas exports
Days after opposition to a pipeline expansion project fell, Russian energy company Gazprom said its natural gas sales to foreign countries are up 15 percent. Russia is one of the Continue Reading
OPEC Deal Pushes Russian Oil Output Down 1.6 Percent From Peak
Russia cut its crude production in March, moving closer to fulfilling its agreement with OPEC as the deadline approaches. Production of crude and condensate fell to 11.05 million barrels a Continue Reading
Rosneft takes key step in push into Middle East
Russia’s Rosneft will this week take custody of its first independently sourced cargo of Kurdish crude oil from Turkey’s port of Ceyhan, a key step in its strategic push into Continue Reading
Russian Economy Crawled to Growth With Recession in Rearview
Russia’s economy returned to growth at the end of 2016, turning the page on seven consecutive quarters of contraction that laid waste to the middle class after oil prices crashed. Continue Reading
Putin Exploits Europe’s Divisions in Bid to Dominate Gas Supply
This small port town offers a textbook case of how Russian President Vladimir Putin has thwarted U.S. and European efforts to rein in Moscow’s most powerful source of leverage and Continue Reading
Russia Reaches 2/3 Of Oil Output Cut Target
Russia has cut crude oil production by 200,000 barrels daily , Energy Minister Alexander Novak said. That’s two-thirds of the amount it agreed to cut under the OPEC-non-OPEC agreement closed Continue Reading
Russian oil company reached Iraqi production milestone
Russian oil company Gazprom Neft said it passed a milestone with operations in Iraq by passing the 5 million barrel mark for cumulative production in 2017. The company said it Continue Reading
Russia Can Wait for $70 Oil Before Returning to Arctic Waters
Russia can wait for a sustained recovery in oil prices before drilling again in Arctic waters, relying for now on less costly regions even as rival producer Norway accelerates development Continue Reading