In order oilfields to help boost crude production, Russia used stocks held in tanks at its oilfields in June, according to three industry sources who spoke to Reuters.
This is seen as a sign of supply flexibility as OPEC leader Saudi Arabia pushes other major producers to increase spare...
The Russian government plans to allocate a total of three trillion rubles ($47.2 billion) to pension hikes for non-employed retired people in Russia, Labor Minister Maxim Topilin said on Thursday, according to Izvestya.
"All the sources I have highlighted, all of them are allocated for upward adjustment of pensions. Three...
Russian energy major Novatek may revise its forecast for liquefied natural gas (LNG) production by 2030, the company's CEO Leonid Mikhelson said on Thursday.
"Maybe the plans to increase LNG production by 2030 that Novatek published earlier, we will increase up to 57-58 million tonnes," Mikhelson said, according to Kommersant.
Earlier,...
The 2018 FIFA World Cup contributed more than 850 billion rubles ($13.5 billion) to Russia’s GDP, Maya Lomidze, executive director of the Association of Tour Operators of Russia said on Wednesday at a press conference.
"The total contribution into GDP was about 1%, 850 billion rubles ($13.5 billion). According to...
The profits of Russian banks fell 17.7% in the first six months of 2018 compared to the same period last year, hitting a combined 634 billion rubles (or around $10 billion). Bank profits for June reached 107 billion rubles ($1.7 million), the Central Bank of Russia reported this week.
The profitability of...
An agreement reached between Russian President Vladimir Putin and his U.S. counterpart Donald Trump on the business front may go forward, the head of the Kremlin-backed Russian Direct Investment Fund has said, according to Bloomberg.
Kirill Dmitriev, a person close to Putin who heads the sovereign wealth fund sanctioned by the...
A group of visitors from Latin America are suspected of stealing $2.1-million worth of diamonds in the Russian World Cup host city of Kazan, Tatarstan’s Business Online news portal reported.
A bag of diamonds belonging to a jewelry company from Russia’s Far East disappeared on the closing day of Kazan’s...
The Russian Ambassador to Japan Mikhail Galuzin has said Moscow hopes that the project to link Japan's northernmost island of Hokkaido with Russia’s Sakhalin via a road-and-rail bridge will eventually be implemented, Gazeta reports.
" that this landmark project, which is unique for the Russian-Japanese relations, will remain a subject for...
The EU issued an optimistic statement on Tuesday following talks in Berlin with envoys from Moscow and Kiev over a dispute regarding future Russian gas shipments through Ukraine, Ukrinform reports.
According to European Commission Vice-President Maros Sefcovic, the three-way talks were "future-oriented" and "positive" although the Russian representative, the country's...
Russia’s Industry and Trade Minister Denis Manturov has launched a new online portal dedicated to the second edition of the Global Manufacturing and Industrialization Summit (GMIS), to be held next year in Russia, Trade Arabia reports.
According to the Russian government, the Summit – which will follow its inaugural event held in...
