Saturday, March 28, 2020
The oil arm of Russian energy giant Gazprom, Gazprom Neft, plans to raise oil production at its Arctic projects this year and is considering the launch of a new gas processing plant in Yamal, Rupec.ru reports. The company said on Tuesday its oil production at the Novy Port project will rise to...
A months-long oil supply dispute with Belarus has been settled, according to a report by Reuters, while officially, Russian Prime Minister Mikhail Mishustin spoke with his Belarusian counterpart Syarhey Rumas about oil deliveries. Three industry sources told the news agency on Monday that the two sides have resolved the three-month...
The coronavirus pandemic might delay the launch of new gas liquefaction facilities in anticipation of stabilization of markets, the head of the Contract Structuring and Pricing Directorate at Gazprom Export Sergey Komlev said in an article for Gazprom’s corporate magazine. "Spot LNG prices in Asia showed a phenomenal drop to...
With prices in rapid decline due to the fall in demand amid the coronavirus outbreak, Russian energy giant Gazprom might be getting the lowest gas price in 15 years from its primary market — Europe — this year, Kommersant reports. Spot prices have fallen to the level of $100 per 1,000...
Russia’s First Deputy Prime Minister Andrei Belousov said in an interview with the ‘Vesti v Subbotu’ (News on Saturday) program on the Rossiya-1 TV channel that oil prices should reach about $35-40 per barrel. "My estimation is that will adjust at the level of about $35-40. There are other...
Moscow and Riyadh are not waging any wars over oil prices, Russia’s presidential spokesman Dmitry Peskov said on Friday, according to Finanz.ru. He said he is certain that other states “should not interfere in the partnership between the two countries.” "There are no price wars between Russia and Saudi Arabia....
A subsidiary of Chinese state-owned refiner Sinochem Group has refused to buy oil from Russian energy giant Rosneft, the parent of a unit hit by U.S. sanctions, Bloomberg reported. On Monday, the company, Sinochem International Oil (Singapore), sought crude for May-to-June delivery, according to company documentation seen by the news...
New measures to prop up the ruble and Russia’s oil producers were announced on Thursday, as the government is trying to manage the economy in times of sinking oil prices and global panic over the coronavirus, the Moscow Times reports.  "The government and the Central Bank will continue to take...
Intensifying recession fears drove the price of oil to its lowest levels in 18 years on Wednesday as the commodity’s prices went down a staggering 24% to $20.37 a barrel, Business Insider reports. Selling escalated throughout the day, with 9% morning losses more than doubling by the afternoon. The acceleration...
The ruble dropped to its lowest level against the dollar since February 2016 on Wednesday, following oil prices which slid below $28, TASS reported. The Russian currency was 3.4% weaker against the dollar at 1058 GMT, reaching 77.99 after touching 79.22, its weakest level since February 2016. It was down...