Russian petrochemicals company Sibur has started the construction of a maleic anhydride (MAN) production facility in its existing plant in Tobolsk, Neftegaz.ru reported.
The new facility will have a planned capacity of 45kt per annum and is expected to commence production in 2021, the company said.
Maleic anhydride (MAN) is used to produce...
Big Russian commercial airlines say the country’s industry is once again on the brink of a large-scale financial crisis driven by skyrocketing fuel prices, Rusaviainsider.com reports.
According to the news outlet, the airlines are continuing to pile up debts, cut back investments and cancel non-profitable routes while Russia’s Transport Ministry discusses...
Around 40 members of the U.S. Senate are introducing a resolution on Wednesday urging President Trump to “push back against Russian aggression in the Black Sea” and arguing that the Nord Stream 2 gas pipeline deal should be cancelled, The Hill reports.
The resolution, spearheaded by Sens. Ron Johnson (R-Wis.) and Dick...
Russia’s independent gas producer Novatek has signed a $2.5 billion contract for the construction of an liquefied natural gas (LNG) platform in a joint venture between Italian energy contractor Saipem and Turkey’s Renaissance services company, part of the Rennaisance holding, Neftegaz.ru reports.
The new Arctic LNG 2 project in the Yamal-Nenets autonomous...
Planned production curbs by global producers, led by Saudi Arabia and Russia, failed to diminish concerns about renewed oversupply stoked by swelling U.S. shale output, sending global oil prices down 4%, OilPrice.com reports.
Fears of a potential slowdown in the global economy and the ensuing weaker oil demand have also...
The global agreement on the reduction of oil output means Russia’s oil output may decline next year, the country’s energy minister Alexander Novak said on Tuesday, according to Reuters.
The development could halt an uninterrupted decade-long run of oil production growth in Russia, the news agency writes.
OPEC and other large oil...
Russia's natural gas giant Gazprom may buy its headquarters in the Lakhta Center in St Petersburg from its oil arm Gazprom Neft for about $1.8 billion, Vedomosti reported citing unnamed sources.
Reportedly, part of the payment has already been transferred to Gazprom Neft in 2018, with the majority of the payment coming in 2019,...
About 90% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the Former Soviet Union (FSU) in 2018–2025 will be spent by Russian companies, Oil Voice reports.
According to data and analytics company GlobalData, Russia leads in the FSU with a capex of $92.8...
Russian pipeline monopoly Transneft expects Russia’s oil output to rise by about two million tons next year, the company’s head Nikolai Tokarev said in an interview with Rossiya 24 on Friday.
“So it is not falling despite our agreement,” Tokarev said in reference to the global oil output deal between...
Gazprom Neft, Russia’s third-largest oil producer, is ready to study the prospects of developing a block of the Sudanese shelf in the Red Sea, Kommersant reports citing a protocol of the Russian-Sudanese intergovernmental commission.
A source close to the company confirmed Gazprom Neft’s interest in the block to the business newspaper....
