Oil fell more than 2% towards $40 a barrel on Wednesday after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand due to the coronavirus crisis, Reuters reports.
The report from the American Petroleum Institute, an industry group, said crude...
Russian retailer Magnit has dropped plans to bid for smaller rival Lenta, paving the way for Severgroup, a company owned by Russian steel magnate Alexey Mordashov, to take over Lenta at about $1.75 billion, Kommersant reports.
Magnit this month will buy Lenta, Russia’s third-largest grocery retailer, seeking to thwart Mordashov’s...
Russia’s biggest oil company Rosneft and the state-run Indian Oil Corporation (IOC) have agreed on deliveries of 40,000 barrels of crude per day to India via the port of Novorossiysk by the end of this year, ET Energy World reports.
The deal was signed during Rosneft CEO Igor Sechin’s visit...
Russia’s state holding company Rosneftegaz has relinquished its controlling stake in the country’s largest oil producer, Rosneft, the company said on Friday, after Rosneft’s exit from Venezuela.
Rosneft disposed of its assets in Venezuela two months ago as the United States stepped up sanctions against the firm, Reuters writes.
Analysts have...
Belarusian President Alexander Lukashenko has met with with the CEO of Russia’s biggest oil company, Rosneft, Igor Sechin on Tuesday, BelTA news reports.
The meeting took place against the backdrop of difficult negotiations between Moscow and Minsk on the terms of oil supplies from Russia to Belarus.
Lukashenko thanked the head...
Ukraine’s national gas company Naftogaz said it intends to close its representative office in the Russian Federation, Ukrinform reports.
Naftogaz Chief Commercial Director Yuriy Vitrenko said this at a press briefing on March 5, an Ukrinform correspondent reports.
"This is a technical issue... We wanted to close this office long ago because...
The White House is considering a new round of executive actions to boost the U.S. energy industry in an attempt to portray strength against Russia, Politico reports citing a senior Trump administration official and others familiar with the effort.
It would be President Trump’s third effort to help pipeline companies,...
A Russian liquefied natural gas (LNG) unit in the Kaliningrad enclave has been leased by Austrian energy company OMV, Reuters reports.
Russia has decided to lease the Marshal Vasilevskiy floating storage and regasification unit (FSRU), hailed by President Vladimir Putin as a guarantor of energy security to Russia’s enclave, in...
Natural gas pipeline exports by Russian energy giant Gazprom plummeted by almost one-fifth in the first quarter against the backdrop of weak demand, a source familiar with the data told Reuters on Thursday.
According to the source, exports from Gazprom to Europe, including Turkey, reached almost 40 billion cubic meters...
Russian independent oil producer Lukoil has posted a net profit of 159 billion roubles ($2.42 billion) in the fourth quarter of 2018, up from 120.5 billion ($1.83 billion), the company said on Monday, according to RBC.
Russia’s No.2 oil producer reported a Q4 revenue of 2 trillion roubles ($30.4 billion), while earnings before interest, tax, depreciation...
