The Organization of Petroleum Exporting Countries (OPEC) and its allies are working toward a deal this week to reduce oil output by at least 1.3 million barrels per day, sources told Reuters, adding that Russia’s resistance to a major cut was so far the main stumbling block in the...
Oil prices continued to rise on Tuesday after a strong start to the week, ahead of an OPEC meeting that is expected to result in production cuts, The Associated Press reports.
The expectation has gained strength after Russian President Vladimir Putin said over the weekend that he and Saudi Crown Prince Mohammed...
Germany’s political support for the Nord Stream 2 gas pipeline with Russia will not be withdrawn, the country’s foreign minister said on Monday, as some lawmakers suggested lowering the proposed pipeline’s capacity to punish Moscow for its seizure of Ukrainian ships and their crew, Handelsblatt reports.
Russia is resisting international calls to...
Russia and Argentina have signed a strategic document envisaging improved cooperation in the peaceful use of nuclear energy, Russian state nuclear agency Rosatom said on Sunday, according to New Europe.
The company said that the agreement was signed on the margins of the G20 summit in Buenos Aires, confirming Argentina...
A joint venture was formed last week by Russia’s energy giant Rosneft and China’s Beijing Gas Group for the construction and operation of a network of CNG stations in Russia with the Chinese company owning a 45% share, Europétrole reports.
Through this joint venture, the two companies will build about...
Russia needs to make an important decision on what kind of fuels its ships will use on the newly opened Arctic Route, which was previously inaccessible due to permafrost conditions, a leading environmental expert told state news agency TASS.
According to Yulia Zvorykina, who heads VEB’s Institute for Research and...
Oil production in Russia decreased in November, ahead of a crucial meeting with OPEC this week to decide supply strategy as prices slump.
Russia produced 11.369 million barrels a day of crude and condensate last month, a 0.42 percent decline from October, according to preliminary data from the Energy Ministry’s...
Russian Energy Minister Alexander Novak said in an interview with TASS agency published on Friday that producers and consumers were comfortable with current oil prices.
“To me, the current price range is comfortable for producers and consumers. The spike up to $86 (per barrel) was short-term, largely driven by the...
Russian state-owned energy major Rosneft announced that it has signed energy deals with a pair of Chinese energy counterparts, seizing an opportunity as Beijing moves to diversify suppliers amid a trade war with the U.S., TASS news agency reports.
China National Chemical, known as ChemChina, agreed to purchase 2.4 million tons a year...
The Russian Energy Ministry has not yet fully developed its position on the possibility of reducing oil production in 2019 within the framework of an agreement with the OPEC production cartel, TASS news agency reported.
According to energy minister Alexander Novak, the decision will also depend on the forecast of...
