Major oil producing nations including majors Russia and Saudi Arabia failed to agree on supply cuts aimed at addressing the collapse in global demand caused by the coronavirus outbreak, effectively ending the alliance known as OPEC+, Reuters reported.
The OPEC cartel led by Saudi Arabia on Thursday had proposed a...
A 2035 outlook from energy company Lukoil says Russia’s vast forests and marshes should play an important role in decarbonization efforts, according to Prime news agency.
This week, as the European Union unveils legislation binding the bloc to lower emissions to ‘net-zero’ by 2050, much attention is being paid to...
The Organization of Petroleum Exporting Countries (OPEC) has proposed a larger-than-expected cut in oil production to help support prices and will press the message to non-cartel members, including a reluctant Russia, in a meeting on Friday, the Washington Post reports.
OPEC said on Thursday it wanted to cut supplies by...
The global OPEC+ alliance of the biggest oil producers found itself stuck yet again on Wednesday, after a day of talks that ended with its two most important members split over whether they should deepen production cuts to offset the huge demand hit from the coronavirus epidemic, The Wall Street...
In what is the most serious reaction yet to the coronavirus outbreak, Russian energy giant Gazprom has introduced restrictions on the work travel plans of its employees to any destination outside Russia, Obshtaya Gazeta reports.
The move is part of efforts to reduce the exposure of more than 470,000 Gazprom employees,...
Cutting Russia's reliance on oil cannot happen at once, Russian President Vladimir Putin said in an interview with TASS published on Wednesday, adding that his government is trying to shield the economy from turbulence in global energy markets.
"We are gradually weaning off , by the way. We are really...
Russia’s TurkStream gas pipeline, launched recently and running through Serbian territory will add $200 million to the country’s budget, Andrey Khripunov, Russia's trade representative in Serbia, has said, according to RT.
“I hope that the blue fuel will fill the pipeline soon. The country becomes a transit state, and...
Bulgarian Prime Minister Boyko Borissov said Tuesday that his country has agreed a 40% cut in the price of natural gas it imports under a long-term import contract with its dominant supplier Russia, Reuters reported.
The Balkan country, which relies on Russian imports for more than 80% of its natural...
Russian oil exports to China dropped by more than a third in February in year-to-year terms amid the coronavirus outbreak, forcing Russian oil companies to search for alternatives, Nezavisimaya Gazeta reports.
Major exporters do not expect oil demand in China to rebound soon, even if the epidemic ends.
"Neither Russia nor...
Russia’s oil exports to Asia were almost unchanged in February amid the coronavirus outbreak, a sign which analysts say could limit the country’s motivation to back deep production cuts when the OPEC+ alliance meets this week, Bloomberg reported.
Russia’s eastbound crude-oil exports reached 1.842 million barrels a day in February,...
