Russia and Saudi Arabia meet with other countries Thursday on cutting oil production while they continue a price war that has driven down U.S. gasoline and oil prices, Reuters writes.
Oil rebounded on Wednesday after a two-day fall, lifted by hopes that the meeting between OPEC members and allied producers...
As Moscow recently signaled a possibility of a new oil deal with Riyadh, the forthcoming OPEC+ summit scheduled for April 9 can become a historic event, Nezavisimaya Gazeta writes.
This week, both countries, currently involved in an oil price war that is destroying demand, have made it clear that a...
Russia’s Transneft has started oil supplies to Belarusian refineries as directed by routing instructions, the spokesman of the Russian pipeline operator Igor Demin told reporters on Monday, according to Interfax.
"Supplies to Belarusian refineries are underway as directed by endorsed routing instructions," he said.
Transneft’s representative said last week that four...
Gazprom Neft-Lubricants, a subsidiary of the Russian oil giant, increased its sales of premium lubricants in international markets to 106.000 tons in 2019, a 6.2% jump year-on-year, TASS reported citing company data.
Deliveries of small-packaged G-Energy and Gazprom Neft branded premium products increased by 10,5% to 95.000 tons.
The company’s geographic...
Global oil prices have dropped on Monday after Saudi Arabia and Russia postponed a meeting about a deal to cut output as the virus pandemic hits demand, CNBC reported.
The two countries have been locked in an oil price war for the last month.
Traders are concerned that, with large parts...
Russian President Vladimir Putin said on Friday his country was ready for deep oil production cuts with the United States and OPEC, but firmly put the blame for the collapse in oil prices on OPEC’s de facto leader Saudi Arabia, Reuters reported.
Speaking in a televised video conference with Russian...
Russia’s Finance Ministry expects the federal budget’s shortfall in oil and gas to amount to 55.8 billion rubles ($726 million) due to the drop in oil prices, a statement on the ministry’s website said, according to Gazeta.ru.
According to the ministry, in March the gap between the actually received oil...
Russia’s Gazprom said on Wednesday that it restarted natural gas deliveries to China following the completion of regular maintenance at the Power of Siberia pipeline, RIA Novosti reports.
The pipeline had been shut since mid-March as the Russian energy giant and China’s CNPC agreed that it would undergo a maintenance...
Russian President Vladimir Putin called on Wednesday for global oil producers and consumers to address "challenging" oil markets, Reuters reported.
Oil prices fell nearly 70% from January highs as coronavirus lockdowns hammered demand and as Saudi Arabia and Russia have flooded the market in a race for market share after...
U.S. President Donald Trump said Tuesday he was ready to help resolve the escalating Saudi Arabia-Russia oil price war, DW reported.
The threat of a global recession triggered by the coronavirus pandemic had already hammered prices when Riyadh said last month it would raise exports after the two sides failed...
