Lukoil has negotiated a partial sale of its shares in West Qurna 2 with Iraq's officials, however, the Iraqi Oil Ministry has urged that Lukoil remain involved in the project, according to Vagit Alekperov, President of the Russian oil magnate.
The sale of Lukoil's stakes in Iraq was announced by Lukoil, the company said....
According to oil experts who spoke to TASS on Wednesday, the price of Brent oil plummeted by more than 7.5 percent and went below $68 per barrel a day after the OPEC+ ministerial conference, at which the participating nations agreed on new criteria for the pact.
The decline in prices, on...
Chancellor Angela Merkel and U.S. President Donald Trump struck a firm agreement on the Nord Stream 2 gas pipeline during Merkel's visit to the U.S., but the specifics are still undisclosed to the Kremlin, according to Presidential Spokesperson Dmitry Peskov, as reported by TASS.
The Wall Street Journal earlier claimed,...
The constriction of the oil market as a result of global climate policy tightening would raise the proportion of OPEC nations in the global market from the present around 30 percent to 70-80 percent, Lukoil Vice-President for Strategic Development Leonid Fedun told reporters on Monday.
"In general, we do not...
Beginning in August 2021, OPEC+ members will raise oil output by 400,000 barrels per day each month, according to Vedomosti.
Beginning in May 2022, production quotas for five OPEC+ nations (Russia, Saudi Arabia, the United Arab Emirates, Kuwait, and Iraq) will be raised. According to these agreements, OPEC+ countries will...
United States President Joe Biden stated at a media briefing with German Chancellor Angela Merkel that Russia must not be permitted to use energy resources as a weapon to force and threaten neighboring counties.
Bidden added that chancellor Merkel and him fully agree on the need for Russia not to use energy as...
Negotiation process on the Nord Stream 2 gas pipeline project between Germany and the United States have progressed, according to German Foreign Minister Heiko Maas, Sputnik News reports.
The minister did not say if a compromise on the issue might be expected during the talks between United States President Joe Biden...
Russia must prepare itself for significant income losses as a result of a worldwide drive toward renewable energy and a corresponding drop in demand for fossil fuels, said Finance Minister Anton Siluanov in an interview with Bloomberg.
The growing proportion of renewables in the global energy market, along with carbon...
The Nord Stream 2 gas pipeline project's construction work might be completed by August, according to Matthias Warnig, managing director of Nord Stream 2 AG, the project's operator, in an interview with the Handelsblatt newspaper on Sunday.
"We think that construction work will be done by the end of August,"...
