Oil and gas explorer PetroNeft has suspended its testing and well re-entry program in Russia due to the coronavirus pandemic, after finding a gas deposit in a previously abandoned Russian field, The Irish Independent reports.
The Dublin-listed company operates in the Tomsk Oblast region of Russia, where it owns and...
Russian presidential spokesman Dmitry Peskov was urged to wait until the OPEC+ deal enters into force before talking about the continued decline in oil production, he told reporters on Monday, according to TASS.
"At the moment, we have to wait until May 1 - the time when the deal...
China increased imports of Russian crude by more than 30% in March compared to a year earlier, while decreasing Saudi imports of the commodity, Reuters reported citing Chinese customs data.
China has been boosting oil exports in a move seen as taking advantage of record low prices, which sank amid...
Natural shale gas production in the United States, the world’s largest producer, is expected to decrease due to low prices, a Gazprom company manager said on Friday, according to Reuters.
The Russian energy giant’s deputy CEO, Oleg Aksyutin, told the company’s inhouse magazine that U.S shale gas producers will start...
Russia's state-run oil giant Rosneft is considering the future of its trading arm after it was placed under U.S. sanctions in February for its role in Venezuelan oil marketing, The Financial Times reports.
Rosneft Trading (RTSA) is winding down its Geneva-based activity, according to one European trader. Three other trading...
The unprecedented oil market crash this week has put Russian crude under pressure, with its export-bound Urals blend falling by almost $6 to trade below $12 per barrel, according to energy information provider Argus Media.
The Russian oil benchmark, the price of which is determined in relation to Brent crude,...
Oil producers from Kazakhstan, which export crude via the Caspian pipeline consortium (CPC), are seeking to divert flows to Russia’s Transneft from May in an attempt to minimize losses as CPC Blend margins and demand fall, five market sources told Reuters.
Companies including Chevron’s Tengizchevroil, Karachaganak Petroleum Operating (KPO) and...
The Russian Energy Ministry has told domestic oil producers to reduce oil output by about 20% from their average February levels, Bloomberg reported on Monday citing two sources with knowledge of the matter.
The amount would bring Moscow in line with its commitment under a global deal with OPEC. The...
Russia will start granting permanent licenses for miners to export gold instead of one-off rights, a decree showed on Monday, according to Reuters.
The move aims to support gold mining companies in shipping metal overseas independently as demand in its regular trade chain is hit by the coronavirus.
Russian commercial banks,...
Russia suspects a cartel agreement was behind Monday’s massive plunge in global oil prices and suggests switching to take-or-pay contracts in the global oil trade, the Deputy Chairman of the country’s Security Council Dmitry Medvedev has said, according to Lenta.ru.
"What we see with regard to oil futures contracts is...
