Oil-rich Russia sees economic growth ahead
The economy of oil-rich Russia could catch up with the rest of the world in about 10 years if the conditions are right, the country’s finance minister said. Russian Finance Continue Reading
Russian oil producer pushes deeper in Arctic
Russian oil producer Gazprom Neft said it was starting sea trials for a vessel meant to support oil work, including spill response, in extreme Arctic climates. The company said the Continue Reading
Rosneft should submit privatization proposals by Dec. 1, Kremlin says
Rosneft, Russia’s top oil producer, should submit proposals for its privatization by Dec. 1, Kremlin economic aide Andrey Belousov said on Tuesday, keeping the government on track to receive funds Continue Reading
Putin’s Oil Benchmark Dream Fails to Attract Foreign Traders
Russian crude futures contract begins trading on Tuesday Clearing costs, low liquidity concerns deter foreign traders Vladimir Putin’s dream of trading Russian oil in Russia is being realized Tuesday on Continue Reading
Saudis Temper Call for Cuts and Russia Digs In
OPEC’s top producer hints group won’t necessarily curb output Members adamant Moscow must cut for any supply accord to work OPEC surprised the market in September with a preliminary agreement Continue Reading
Russia positive on global oil deal, continues consultations with OPEC: minister
Russia is continuing consultations with OPEC aimed at stabilizing oil markets and is positive about a global deal, Energy Minister Alexander Novak said on Saturday. In a statement, his ministry Continue Reading
Saudis Said to Quit Russia Talks as OPEC Deal No Closer
New internal OPEC talks Monday after failure to reach accord Saudi Arabia, Iraq and Iran still disagree how to share cuts Saudi Arabia pulled out of planned talks with non-OPEC Continue Reading
Russia cements leading China oil supply position
Russia is cementing its position as the main oil supplier to China, the world’s biggest net importer and growth market for the fuel, taking over the lead from Saudi Arabia Continue Reading
Russia to OPEC: Oil Freeze Is All You Get
Facing pressure from OPEC to make a significant output reduction, Russia reiterated its readiness to freeze oil production at current levels, arguing that the offer amounted to a cut compared Continue Reading
Saudi Arabia’s Latest OPEC Headache: Russian Reluctance to Cut
For months, Russia has told OPEC its preferred option in any eventual oil-supply deal was to freeze production, rather than to cut it. Saudi Arabia, the bloc’s most powerful member, Continue Reading