Energy

Serbian President Aleksandar Vucic has launched the Serbian section of the Balkan Stream pipeline (an extension of the TurkStream pipeline) in the Gospodjinci settlement near the city of Novi Said. The launch ceremony was broadcast live by the Tanjug news agency on Friday, Tass informed. The ceremony also involved Russian...

Russia's production of oil and gas condensate dropped by 8.6% to 512,680,000 tonnes in 2020, according to data from the Central Dispatching Department of the Fuel and Energy Sector, Tass informed. Russia is a member of the OPEC+ agreement on oil output cut aimed at improving the situation on the...

Iran has told the U.N. nuclear watchdog it intends to enrich uranium to up to 20% purity, a level it achieved before its 2015 deal with major powers and higher than the 4.5% it has recently been enriching up to, Russia’s ambassador to the agency said, Reuters writes. “#IAEA DG...

OPEC+ countries are beginning to gradually increase oil production after nine months of tough restrictions. The rate of production increase will not exceed 0.5 mln barrels per day (bpd). By setting such a small rate, the oil exporters, which account for 40% of the global oil market, will be...

Serbian President Aleksandar Vucic has launched the Serbian section of the Balkan Stream pipeline (an extension of the TurkStream pipeline) in the Gospodjinci settlement near the city of Novi Said. The launch ceremony was broadcast live by the Tanjug news agency on Friday, TASS writes. The ceremony also involved Russian...

Any hope of a quiet 2021 for Russia has been dashed as one of the country’s top officials warns it faces a series of court battles that risk confrontation with the West, including a fight over the world’s largest legal bill, RT reported. In an interview published by Moscow news...

The Russia-led Nord Stream 2 consortium said on Monday it has completed laying pipes for the project in German waters, finishing work on a 2.6 kilometer-long portion of the pipeline, which had been stalled by the threat of U.S. sanctions, Reuters reported. “We have completed this work,” the consortium said...

Russia’s government considers the oil price range of $45-55 per barrel optimum in the current market situation, which allows preventing the market from overheating, on the one hand, and supporting producers, on the other hand, Deputy Prime Minister Alexander Novak told reporters, TASS reports. "The range of prices of $45-55...

The Kremlin said on Thursday that new U.S. sanctions targeting Nord Stream 2 could complicate the completion of the stalled Russian gas pipeline to Germany, but that Moscow and European nations had an interest in it being built, Reuters reports. Senior Trump administration officials said on Wednesday that Washington was...

Iran is interested in investments by Russian oil companies, Russia’s TASS news agency quoted Iranian Oil Minister Bijan Zanganeh as saying on Monday, Reuters reports. Zanganeh also said Iran and Russia will increase cooperation in the energy sphere to offset the impact of sanctions, Interfax news agency reported.