Russia’s Lukoil to invest more offshore this year
Russian oil company Lukoil aims to invest at least four times as much on offshore oil and gas exploration than it did last year, a resources minister said. One of Continue Reading
OPEC Be Warned: Russia Battens Down the Hatches for Oil at $40
Perhaps the Bank of Russia knows something the world doesn’t. As the Organization of Petroleum Exporting Countries and its allies prepare to meet for a review of their production cuts Continue Reading
Russia, Saudis Move at a Different Pace as Oil Cuts Scrutinized
Russia and Saudi Arabia head to this weekend’s OPEC committee meeting as the tortoise and hare of a global deal to cut oil supply, with Moscow sticking to a slow Continue Reading
Putin insists Europe needs expanded gas pipeline
An expansion to a Russian gas pipeline running offshore to Germany makes sense given production declines in Europe, Russia’s president said. Russian natural gas company Gazprom is one of the Continue Reading
Will Russia Ditch Its Ambitious Oil Tax Reform?
2018 was supposed to be a transformative year in Russia – presidential elections are looming, the Russian economy is expected to bust out of its current slump and the oil Continue Reading
The world’s deepest oil well is over 40,000 feet deep
In the world’s deepest gold mine , workers will venture 2.5 miles (4 km) below the Earth’s surface to extract from a 30-inch (0.8m) wide vein of gold-rich ore. While Continue Reading
Russia will play OPEC ball, report finds
Russia is likely to play along with what’s expected to be another six months of OPEC production cuts despite lackluster compliance, a new report finds. Members of the five-member committee Continue Reading
Is A Russian-Iranian Energy Pact In The Making?
In the lead-up to President Rouhani’s visit to Moscow, expected to take place in late March , a plethora of news regarding joint Russo-Iranian energy projects has been circulating on Continue Reading
Russia enlarges military footprint in Libya
Libyan Field Marshall Khalifa Haftar, a fiery commander in eastern Libya, has declared war against radical Islamists, including the Islamic State and al-Qaida, but is controversial for perceived iron-fist tactics. Continue Reading
Oil-rich Russia revises GDP growth estimate higher
As crude oil prices recover from last year’s historic decline, the Russian finance minister said the outlook for gains in gross domestic product have improved. Russia last year was producing Continue Reading