Friday, March 29, 2024
China’s CEFC has abandoned plans to buy $9 billion stakes in Russian oil giant Rosneft, with the Qatari sovereign wealth fund and Swiss mining company Glencore choosing to cancel the deal. The Qatari Investment Authority will now own 18.93% of Rosneft, becoming the third-largest shareholder after the Russian state and...
Russia’s energy giant, Gazprom, is certain that gas supplies countries outside of the CIS (Commonwealth of Independent States) in 2018 will increase compared to last year, Alexander Medvedev, Deputy Chairman of Gazprom’s Management Committee, told Vedomosti. "It’s difficult to say for sure right now how much we will supply this...
Earlier this year, American energy giant ExxonMobil was forced to withdraw from some joint projects with Russian oil giant Rosneft due to U.S. sanctions on Russia. But despite the setback, the U.S. supermajor is proceeding with a $15-billion liquefied natural gas (LNG) project that is unaffected by the sanctions,...
Russia’s economy is gaining ground on the rising global prices of oil, a new forecast by the European Commission says. “Going forward, higher oil prices will help to replenish off-budget reserves. The budget balance is likely to reach surplus at the end of the forecast horizon, driven mainly by higher...
The Organization of Petroleum Exporting Countries (OPEC) continues to over-deliver on its production cuts, with output falling further last month as the group nears its goal of rebalancing the oil market. The cartel pumped 31.93 million barrels a day in April, down from a revised 31.97 million in March, a...
The Organization of Petroleum Exporting Countries (OPEC) continues to over-deliver on its production cuts, with output falling further last month as the group nears its goal of rebalancing the oil market. The cartel pumped 31.93 million barrels a day in April, down from a revised 31.97 million in March, a...
Russia has launched the world's first floating nuclear power plant, the 70-megawatt Academik Lomonosov, on the Baltic Sea, state nuclear agency Rosatom has said. Starting from St. Petersburg, the whole plant will be towed around Norway to Murmansk in Russia’s Far North to take on nuclear fuel. From there, it...
The world's largest pipelaying vessel, the Pioneering Spirit, reached the Turkish shore off Kiyikoy in northwest Turkey on Monday, finalizing the deep-water offshore construction of the first line of the TurkStream natural gas pipeline, Russian gas giant Gazprom said Monday, according to Platts. The 31.5 billion cubic meters (Bcm) per...
The Russian Ministry of Industry and Trade has developed and approved a plan for localizing the production of critical LNG equipment for the country, with a price tag of around $10 billion, an official from the ministry has told the Izvestya newspaper. The plan includes creating new scientific developments for gas...
Russian independent gas producer Novatek sees the latest U.S. sanctions against Russia introduced in early April as "a mistake," but does not expect any new measures to be levied against Novatek itself, CFO Mark Gyetvay said Thursday, according to Reuters. "It has become increasingly frustrating for all involved to deal with...