Russia energy giant Gazprom expects its annual gas output to grow to 520-560 billion cubic meters by 2025. The company’s forecast is based on expectations of a "sufficient demand in Russia and favorable conditions on external markets," it said, according to Vedomosti.
In November 2017, Gazprom had a less optimistic...
Just 36% of 30 bln tonnes of oil reserves are profitable, Deputy Energy Minister of Russia Pavel Sorokin wrote in his article for the Energy Policy magazine, TASS informed.
"According to data of fields’ development economics inventory completed on the instruction of the Russian government, just 36% out of 30...
OPEC sources informed TASS that OPEC+ ministers opted not to modify the oil production recovery plan, which anticipates increase of 0.4 million barrels per day since August, and the OPEC Secretariat subsequently verified this.
According to one of the sources, the decision was made to postpone our July decision. This...
British oil giant BP has sold the first ever batch of crude oil supplied from the United States to Ukrainian state company Ukrtatnafta, Reuters reported.
The move is seen as another blow to Moscow amid heavy political pressure from Washington and an oil contamination crisis which has affected Russian exports.
"The...
Key Russian defense advisers from state-owned corporation Rostec have left Venezuela, in a blow for President Nicolas Maduro, as Moscow weighs the leader’s political and economic resilience against growing U.S. pressure, the Wall Street Journal reports.
State defense contractor Rostec, which has trained Venezuelan troops and advised on securing...
Armenia wants to build a new nuclear power plant and is already in talks with Russia on participation in the project, the country’s Deputy Prime Minister Tigran Avinyan told the PanArmenian.
Avinyan, who is currently in New York for UN events, has said that Armenia does not want to give...
Russian state-run energy giant Gazprom announced Friday that it paid $2.9 billion to Ukraine’s national oil company Naftogaz, in line with a major settlement between the two countries reached this week, Unian reports.
After tough negotiations, Moscow and Kyiv struck a deal on Monday to supply Europe with gas through...
Venezuela and Iran suffered the most from U.S. oil restrictions, where daily production fell by almost three million barrels. With Russia, everything turned out the other way around - production increased to 10.7 million barrels per day, which is how it turned out that Washington’s sanctions came to hand...
In their first joint investment since agreeing on a strategic partnership in 2012, Russia’s biggest oil company, Rosneft, and Norway’s Equinor have agreed on details on how to develop an Arctic Siberian onshore oilfield, Reuters reported on Monday.
In the first stage of developing the Severo-Komsomolskoye oilfield, the two companies...
