Saturday, April 4, 2020
Saudi Arabia and the United Arab Emirates (UAE) are trying to lock in Russia and other non-OPEC allies into several years of co-operation for managing the oil market, according to The Wall Street Journal. The prospect of another price crash is likely pushing the cartel and its allies to agree...
Possible U.S. sanctions against Switzerland’s Allseas and Italy’s Saipem - the companies constructing Russian offshore gas pipelines - will not affect Russia’s Nord Stream 2 project, analysts speaking to daily newspaper Izvestia say. On Tuesday, U.S. senators have come up with a bill imposing restrictions on individuals and companies involved...
Russia has already started to reduce oil production in line with the OPEC+ deal and is on track to get about a fifth of the way toward its pledged cut this month, RIA news agency reports. According to Energy Minister Alexander Novak, preliminary data show Russia’s output has already fallen...
Russia's biggest oil company, Rosneft, said Saturday that it's halting operations in Venezuela and selling its assets there to a company fully owned by the Russian government, Reuters reported. The move is apparently intended to protect Russia's largest oil producer from U.S. sanctions while Moscow continues supporting Venezuelan President Nicolas...
The first ever fuel loading of Akademik Lomonosov, the world’s only floating nuclear power unit (FNPU) so far, has beguns in Russia’s port of Murmansk, The Barents Observer reports. After getting necessary permission from regulatory body Rostechnadzor, the Akademik Lomonosov will be based at Pevek in the Chukotka peninsula and...
Russia took another step toward its ambitious Arctic program on Saturday, launching a nuclear-powered icebreaker, TASS news agency reports. Moscow wants to improve Russia’s ability to tap the Arctic's commercial potential by renewing and expanding its northern fleet. The ship, dubbed the Ural, was floated out from a dockyard...
Legislation to impose sanctions on the construction of Russia’s Nord Stream 2 pipeline was approved by the United States Senate Foreign Relations Committee on Wednesday, Bloomberg reports. The bill, “Protecting Europe’s Energy Security Act,” which passed by a 20-2 vote, reflects some lawmakers’ concerns over Russia’s energy grip on Europe...
A new power plant which Russian authorities hope will help make its Kaliningrad exclave in Europe self-reliant was launched on Wednesday, Reuters reports. The launch comes as the city’s European Union neighbors seek to unplug their power grids from Russia. Kaliningrad has no border with mainland Russia and has...
Oil prices have rallied after a phone call between Donald Trump and Vladimir Putin raised hopes that tensions between Moscow and Saudi Arabia may start to ease, Money Control reported. Brent crude prices rose as much as 3.5% to $23.55 overnight, after hitting an 18-year low of less than $23...
Oil prices tumbled back below $25 per barrel Friday after Saudi Arabia said it hasn't recently held talks with Russia to end a price war that began earlier this month, The Street reported. Brent crude oil, the international benchmark, plunged by 6 percent to $24.77 a barrel while West Texas...