The risk of U.S. monopoly-related sanctions is deterring Russia from forming a permanent alliance with global oil cartel OPEC, Russian Energy Minister Alexander Novak said on Thursday, according to Reuters.
In an unprecedented joint effort to curb output and support prices, the Organization of the Petroleum Exporting Countries (OPEC)...
A new interest rate hike announced by the U.S. Federal Reserve last week is an important factor for a slump in global oil prices last week, the head of Russian oil giant Rosneft Igor Sechin has said, according to Finanz.ru.
Sechin, a long-standing Kremlin insider and ally of Russian President Vladimir Putin,...
As Brent crude, the benchmark for Russia’s oil exports, dropped near 16-month lows, Russian officials and big oil executives appeared unconcerned with the development, Bloomberg reports.
“The drop in oil prices hardly bother us because our budget is based on $42/barrelfinance minister Anton Siluanov told reporters ahead of a meeting between President...
The Board of Directors of Russia’s energy giant Gazprom has approved the draft investment program and budget for 2019, according to which the company will cut investment to 1,325.724 billion rubles ($19.12 billion), DP.ru reported.
After adjusting the investment program for 2018, it amounted to 1.496 trillion rubles, initially...
As key exchanges in New York and London were taking a holiday break, the global oil market is struck with panic as the commodity’s downward spiral continued, RT reports.
At 10:00 Moscow time, Brent crude futures were trading at $50.6 per barrel on the Moscow Stock Exchange, and plunged to $44.95...
Liquefied natural gas (LNG) imports in China soared by 48.5 percent in November, compared to the same month last year, as the world’s most populous country continues a switch to natural gas from coal for heating, the South China Morning Post reports.
China’s LNG imports last month reached 5.99 million...
Croatian gas authorities have said they received a disappointing number of binding bids for the use of a planned floating liquefied natural gas (LNG) terminal off the Adriatic coast, Reuters reported.
“We received binding bids for terminal capacity amounting to 0.52 billion cubic meters of gas. We also have...
A recovery in oil prices and increased demand due to month-end tax payments helped the Russian ruble step away from the weakest levels in the last three months it reached last week, Reuters reported.
The ruble was 0.8 percent stronger against the dollar (68.38), at 0752 GMT, moving away...
A plan for a proposed Finnish-Russian joint project for a nuclear reactor in western Finland has been postponed by four years to 2028 as more time is needed to secure the project’s licenses, Reuters reports.
“The goal is to receive the construction license and to start the construction of...
Russian energy giant Gazprom has completed the bulk of activities for the Power of Siberia natural gas pipeline from Russia to China, the company said on Friday, citing its CEO Alexei Miller.
"We have reached an important milestone in construction of the Power of Siberia gas pipeline - the bulk...
