Rosneft, Russia’s biggest oil producer, said Tuesday it more than doubled its net income last year, taking advantage of the climbing price of crude despite instability in the markets, AFP reported.
The state-run oil giant reported a net income of 549 billion rubles ($8.4 billion) in 2018, up from...
Saudi Arabia and the United Arab Emirates (UAE) are trying to lock in Russia and other non-OPEC allies into several years of co-operation for managing the oil market, according to The Wall Street Journal.
The prospect of another price crash is likely pushing the cartel and its allies to agree...
Despite Schlumberger’s failed bid for Eurasia Drilling Company (EDC), the U.S. oilfield services giant said on Tuesday it will continue looking for alternative ways to work in Russia’s onshore drilling market, TASS news agency reported, citing Alexander Borisov, vice-president of Schlumberger-Russia and Central Asia on interaction with state authorities.
Russia’s Federal...
Gasoline prices in Russia are the lowest in Europe, according to a report by state news agency RIA News published on Monday.
RIA Rating collected and ranked the price of gasoline and diesel in 33 European countries, as well as in the central Asian country and former Soviet republic of...
Danish manufacturer of wind turbines Vestas has secured an order for a 99 MW wind power project from a joint venture between Russia’s Rusnano and Finnish company Fortum, News-24.ru reported.
“Vestas has received a 99MW order in Russia, reinforcing our leading position in the country’s growing wind energy industry,”...
Russian oil output declined to 11.38 million barrels per day (bpd) in January, or by around 35,000 bpd from the October 2018 level, the baseline for a global oil accord with OPEC, missing the target set in the deal, Energy Ministry data showed on Saturday, according to Bloomberg.
This was...
Russian oil giant Rosneft is seeking further tax relief for its Priobskoye oilfield, Russia’s largest, but the finance ministry considers the request “inexpedient”, a spokeswoman said on Friday, according to Reuters.
If the additional tax breaks for the oilfield in West Siberia are approved, the Russian state budget could lose...
Russia’s independent gas producer Novatek is facing challenges in trying to secure an uninterrupted flow of LNG from its production facilities in Russia’s Arctic, Maritime Executive reports.
The company is striving to occupy a share in the fast-growing global market of LNG and has commissioned the second and third...
In his first trip to Russia and his first foreign tour after assuming office last October, Iraqi Foreign Minister Mohamed Ali al-Hakim called on Russian companies to help Iraq’s industry recover and develop Kommersant reports.
The Iraqi minister visited Moscow, where he held talks with his Russian counterpart Sergey...
