Saturday, June 22, 2024
As Moscow aims to turn natural gas into a commodity that can be sold anywhere, like oil, Russia’s production of liquefied natural gas (LNG) has soared in the past year, bne Intellinews reports. Russia has been investing heavily into LNG production through the vehicle of privately owned LNG producer Novatek....
The coronavirus crisis will lead to global oil demand dropping by around 8 percent this year compared to last year, the International Monetary Fund (IMF) said in a new report, as carried by Qatari daily The Penunsula, Russia Today reported. This year, oil prices will be 41 percent lower than...
The state-run oil-transport firm of Belarus, Belneftekhim, has said "clean" Russian oil shipments have begun to arrive in Belarus via the Druzhba pipeline after a weeklong shutdown caused by the contamination of Russian supplies, RBC reports. Petroleum contaminated with organic chloride compounds was removed from the Druzhba oil pipeline to...
United States Energy Secretary Rick Perry said on Tuesday that a sanctions bill putting tough sanctions on companies involved in Russia’s Nord Stream 2 project would come in the “not too distant future,” the Financial Times reports. The gas pipeline project is criticized by the United States and several eastern...
The head of Russian oil company Tatneft, Nail Maganov, said in an interview with TASS that at current oil prices, projects on the Arctic shelf are much less attractive than those in traditional production regions of Russia. "Given the current oil prices, we are extremely interested in other projects, especially...
In the same week that the United States overtook Russia as the world’s largest producer of crude oil and gas, import data from China showed Russia was the biggest crude supplier to China for the whole of 2018, Reuters reported. The data, released Friday, shows the world’s second-largest economy...
Russia will cut the price for natural gas sold to Moldova starting October 1, the country’s president Igor Dodon said on Friday, according to Vesti.ru. The president made the comment in a post to his Facebook page after meeting Russian President Vladimir Putin in the Kremlin. “We have agreed in principle...
The Russian Economic Development Ministry's plan to examine small-scale LNG exports from Russia by giving licenses for supply overseas without consulting with Gazprom has been criticized. The energy giant  thinks that as the number of Russian LNG suppliers increases, so will competition among them. This might lead to reduced pricing...
Тhe head of strategy at Russian pipemaker TMK Vladimir Shmatovich told CNBC Thursday that rising oil prices and higher U.S. production can only be beneficial to his company. "The sector we're in is very dynamic now with the oil price at $70-plus for WTI (West Texas Intermediate), we're seeing very...
The price of Brent crude, which fell to $47 per barrel ahead of the OPEC+ meeting, rose to almost $50 per barrel, rebounding on positive news about the decision reached by the participants to the oil production cut agreement. Now this is the maximum price and it is unlikely to...