Russia is lining up seven major state companies, including Aeroflot, Alrosa, the diamond miner, and Rosneft, for potential privatisation as the Kremlin debates drastic options to replace dwindling oil revenues. Continue Reading
Russian Deputy Prime Minister Arkady Dvorkovich on Friday played down expectations that Russia could coordinate with OPEC to arrest the fall in oil prices by reducing production, saying the state Continue Reading
The Central Bank of Russia said it was keeping its key rate unchanged, saying lower crude oil prices could lead to an accelerated rate of inflation. The Bank of Russia Continue Reading
Russia said on Thursday that OPEC’s largest producer Saudi Arabia, had proposed oil production cuts of up to 5 percent in what would be the first global deal in over Continue Reading
OPEC oil producer Iran has not been contacted by Russia about cuts in output to bolster oil prices, Iranian Oil Minister Bijan Namdar Zanganeh said at a Franco-Iranian summit on Continue Reading
For a few minutes, at least, there was a glimmer of hope for the world’s struggling oil producers. After months of opposing any production cuts, Russia said on Thursday it Continue Reading
Oil market analysts on Thursday largely dismissed the possibility of coordinated production cuts by OPEC and Russia, saying the market’s early positive reaction was based on false hope. “Talk of Continue Reading
A decision on cutting oil production is possible only if all crude exporting nations are in consensus, and there is no timing for talks yet, Russia’s Energy Minister Alexander Novak Continue Reading
For Russia’s battered economy, 2016 already looks miserable. The ruble has slumped to record lows as oil prices have fallen 11 percent since Jan. 1, to around $30 a barrel. Continue Reading
Russian officials have decided they should talk to Saudi Arabia and other OPEC countries about output cuts to bolster oil prices, the head of Russia’s pipeline monopoly said on Wednesday, Continue Reading
