The Organization of Petroleum Exporting Countries (OPEC) will hold a dinner on Monday in Houston with U.S. shale firms, two industry sources said, according to Reuters. The move is the latest sign of the kartel widening talks about how best to tame a global oil glut.
The dinner will be...
The United States will overtake Russia as the world's biggest oil producer by 2019 at the latest, the International Energy Agency (IEA) said on Tuesday, as the country's shale oil boom continues to upend global markets.
According, to RFE/RL, IEA Executive Director Fatih Birol said at an event in Tokyo...
The Russian government supported the beginning of the concession procedure to build the Northern Latitudinal Route (NLR), TASS reported. The new railroad will be built in the northern Yamalo-Nenets Region, Governor Dmitry Kobylkin said in a statement published on Tuesday.
Earlier, Russia’s President Vladimir Putin called NLR a promising project,...
Russia energy giant Gazprom expects its annual gas output to grow to 520-560 billion cubic meters by 2025. The company’s forecast is based on expectations of a "sufficient demand in Russia and favorable conditions on external markets," it said, according to Vedomosti.
In November 2017, Gazprom had a less optimistic...
Russia’s Federal Antimonopoly Service (FAS) approved the request by oil and gas giant BP to purchase a 49% stake in Kharampurneftegaz, a subsidiary of Russian state-owned company Rosneft, the regulator said according to TASS news agency.
Earlier, BP's application was approved by the antitrust watchdog of Germany.
The Chief Executive Officer of...
As Beijing released more crude import quotas to independent refiners, Russia remained the top crude oil supplier to China in January, Chinese official data shows
The data reveal a strong beginning of 2018, after the start-up of an expanded trans-Siberia pipeline, Reuters reports. Angola and Iraq took the second and third...
Italian bank Intesa Sanpaolo is ready to take part in financing the Nord Stream-2 gas pipeline but needs clarity about sanctions, the head of the bank’s Russian subsidiary, Antonio Fallico, said on Sunday, according to Russian RIA news agency.
“We are waiting for a decision of the European Commission on...
For years, Russia has worked to gain influence in Southeast Europe, using Serbia as a foothold to establish a friendly pocket on a hostile continent.
The European Union finally is pushing back. European Commission President Jean-Claude Juncker is embarking on a seven-nation Balkans tour Sunday to promote the EU's new...
Bulgaria is interested in buying natural gas from two Israeli gas fields, Tamar and Leviathan, the Bulgarian Minister of Energy Temenuzhka Petkova reiterated this week, noting that the final decision is dependent on finishing the Greece-Bulgaria Interconnector (IGB). It is a $280 million, 112-mile-long project set to link up...
The United Arab Emirates Mubadala wealth fund is reportedly nearing a deal to invest in a Gazprom Neft subsidiary based in Western Siberia. The transaction, if closed, would mark the Abu Dhabi investment vehicle’s foray into Russia’s upstream sector.
Russian business daily Kommersant reported last week that Mubadala and the...
