Tuesday, 23.04.2019
Belarusian state oil company Belneftekhim is considering demanding compensation from Russian oil company Transneft for supplies of below-par quality oil, Belneftekhim’s CEO Andrei Rybakov said on Saturday, according to BelTA news agency. "All possible consequences will be discussed with Transneft at a forthcoming meeting. The Belarusian side will insist on...
Russian gas giant Gazprom and its partner, Anglo-Dutch energy major Royal Dutch Shell, have signed a memorandum to construct the third production train of the Sakhalin II LNG plant, as well as an agreement of strategic cooperation, the companies said in a press release. At a meeting in Moscow, the...
Foreign Minister Sergei Lavrov has accused the United States of brazenly meddling in Russia's Nord Stream 2 gas pipeline project, Rossiyskaya Gazeta reports The Nord Stream 2 project, which aims to pump Russian gas to Germany via a pipeline under the Baltic Sea, is led by Russian state energy firm...
As part of a deal to keep down domestic gasoline and diesel prices, Russia will use about $3.3 billion from its National Wealth Fund this year to compensate the country’s oil firms, a senior finance ministry official said on Friday, according to Reuters. Alexei Sazanov, head of the finance ministry’s...
Russian Prime Minister Dmitry Medvedev has signed a decree imposing new sanctions on Ukraine, which include a ban on the export of oil, coal and petroleum products and expanding the list of banned Ukrainian goods, RIA Novosti reported. The new export rules, which will restrict Russian oil exports to Ukraine,...
Cash flow from Venezuelan oil sales are being funneled through Russian state-run oil giant Rosneft, helping the country’s president Nicolas Maduro to evade U.S. sanctions designed to oust him from power, Reuters reported on Thursday citing sources and documents. Venezuela was already struggling to finance imports and government spending...
The demand for Russian gas to be pumped into European underground storage facilities will be significantly lower than in previous years, state-run gas giant Gazprom has said, attributing the trend to warm weather. European consumers traditionally begin filling their storages with gas in early spring. The monopoly started such supplies...
Russia’s state-owned gas giant Gazprom will continue the construction of the Nord Stream 2 pipeline despite the EU Council approving a European gas directive this week that is expected to delay the project’s commissioning – and potentially leave it half empty, RBC Ukraine reports. Gazprom is the sole shareholder...
Ukrainian state oil company Ukrnafta has won a ruling in a Swiss arbitration tribunal which forces Russia to pay $44.5 million in compensation for expropriating the company’s property in Crimea, Lenta reported. In the case initiated in 2015, the company successfully argued before the arbitral tribunal that in April 2014 Russia...
Finnish-Russian AI and IIoT solutions developer ZYFRA Group has successfully tested an Electrical Submersible Pump (ESP) software unit, designed to enhance the efficiency of oil extraction by boosting oil well production rates by 1.5% without any additional capital investment, Oil Review reports. The ESP software unit is now operational for more than...