The economy of the world’s biggest energy exporter is heading for its deepest slump in more than 10 years due to the fallout from the coronavirus. However, an even bigger crisis may be just around the corner, Bloomberg reported.
Analysts at the Kremlin-funded Skolkovo Energy Center warned this month that...
Iraq and Saudi Arabia agreed on Saturday to continue working to re-balance markets and stressed their commitment to output cuts agreed by the Organization of the Petroleum Exporting Countries, Russia and other allies, Reuters reports.
The comments came after Iraq’s Finance Minister Ali Allawi, who is acting oil minister, visited...
A sharp increase in the number of Covid-19 cases among workers at Kazakhstan's Tengiz oil field has prompted a warning from health officials that production may be affected if the outbreak is not contained, Argus Media reported.
"The government commission adopted a schedule of work at the Tengiz field aimed...
Russia’s state holding company Rosneftegaz has relinquished its controlling stake in the country’s largest oil producer, Rosneft, the company said on Friday, after Rosneft’s exit from Venezuela.
Rosneft disposed of its assets in Venezuela two months ago as the United States stepped up sanctions against the firm, Reuters writes.
Analysts have...
The board of Russian gas giant Gazprom has recommended a dividend of 15.24 roubles per share on 2019 results, the company said on Thursday, in line with management’s proposal and down from 16.61 roubles per share the previous year.
The total dividend payout stands at 360.78 billion roubles ($5 billion),...
Russian energy giant Rosneft on Friday re-appointed Chief Executive Igor Sechin, an ally of President Vladimir Putin, for another five years, Financial Times reported.
Sechin, who turns 60 in September, turned the company into one of the world’s top oil players and earned the accolade of oil tsar.
He starts his...
Nord Stream 2 AG, the Swiss-based operator of the Nord Stream 2 pipeline project, will analyze the decision taken by the European court, which dismissed the company’s claim against the EU Gas Directive norms, and can file an appeal against the judgment within two months, the press service of...
Russian diamond producer Alrosa offered an option to buy rough diamonds through its digital platform amid the coronavirus pandemic related restrictions. The company offers over 800 rough diamonds from 5-10 carats batches, according to its official statement. The offered volume is the largest that the company has ever put...
Russian gas giant Gazprom decreased its supplies to major clients Germany and Turkey in March, the Interfax news agency reported on Tuesday, citing Russian customs data.
Natural gas pipeline exports by Gazprom, which account for around 35% of the European gas market, plummeted by almost one-fifth in the first quarter...
