Thursday, March 28, 2024
Commodity trader Glencore plans to seal a deal to sell a 14% stake in Russia’s Rosneft oil company to the China Energy Company Limited (CEFC) by the end of the first half of 2018, RBC reports. The Switzerland-based company owns 19.5% of Rosneft, along with the Qatar Investment Authority (QIA)...
Russia’s Rosneft oil and gas company has signed a contract on buying 5 billion cubic meters of gas from the nation’s energy giant Gazprom at a regulated price, several industry sources informed Kommersant. The oil company needs gas to meet its obligations under long-term contracts. Initially, Rosneft planned to close...
If a ceasefire can be implemented in eastern Ukraine with the help of U.N. peacekeepers, Germany favors easing some sanctions imposed on Russia, Foreign Minister Sigmar Gabriel said on Saturday. According to Reuters, he said it was “not realistic” to insist on full implementation of the Minsk peace accords...
Russian banks and a joint Russia-China investment fund are interested to take part in Saudi Aramco’s initial public offering (IPO), according to the head of a sovereign Russian investment fund. Aramco is the Saudi state-owned national petroleum and natural gas company with a market value estimated at between $2 trillion...
China plans to launch trading crude oil futures in yuan, establishing a 'petro-yuan' that will undermine the petro-dollar, putting Russia “between two fires”, Nezavisimaya Gazeta reports. According to analysts, the move would allow Beijing to take pricing under its control. Against the backdrop of record oil imports, which reached almost 9.6...
Russia's largest non-state natural gas producer Novatek will launch a second line at its Yamal LNG plant in September, the RIA news agency cited the company as saying on Wednesday. Novatek owns a 50.1 percent stake in Yamal LNG. France's Total and China National Petroleum Corp each control 20 percent,...
China is in talks with Russia to build a 'Polar Silk Road' through developing Arctic shipping routes opened up by global warming, a Chinese government white paper published on Friday says. Despite not being an Arctic country, China is pushing its ambitious global trade infrastructure program to the polar region,...
Oil prices were firm on Wednesday, receiving ongoing support from healthy economic growth as well as from supply restrictions led by a group of producers around the Organisation of the Petroleum Exporting Countries (OPEC) and Russia. Spot Brent crude oil futures, the international benchmark for oil prices, was at 70...
Global oil prices are unlikely to exceed $60 per barrel in the mid-term, Russian Economy Minister Maxim Oreshkin said, according to Reuters. The statement comes as Russia and OPEC countries continue to enforce a deal made last year to curb oil production in order to drive prices up. This week, Saudi...
Oil prices rose on Tuesday, carried by healthy economic growth outlooks as well as the ongoing supply restraint by a group of exporters around OPEC and Russia, The Wall Street Journal reported. Spot Brent crude futures were at $69.41 at 0409 GMT, up 38 cents, or 0.55 percent, from their...