Russia
News
July 30, 2021
Russia’s Lukoil PJSC is retracting its decision to sell its stake in West Qurna-2 field in the south to Chinese companies, according to Iraqi state-run newspaper Al-Sabah.
News
July 22, 2021
Under the agreement, Germany commits to taking action if Russia tries to use energy as a weapon against Ukraine, a decision that may mark a concession from Chancellor Angela Merkel, who had previously balked at making independent moves against the Kremlin over the gas pipeline.
News
July 19, 2021
Futures in New York lost as much as 8.3% on Monday as OPEC and its allies pledge to increase oil production from August until all halted output is revived. A jump in virus cases from Asia to the U.S. drove down equities, with stocks in Europe hitting a seven-week low.
News
July 16, 2021
“Looking ahead to 2022, risks and uncertainties loom large and require careful monitoring to ensure the recovery from the Covid-19 pandemic,” OPEC said in its monthly report, which contained the first detailed estimates for next year.
News
July 12, 2021
One week after OPEC and its allies abandoned their meeting in acrimony, the window for an August oil-production increase is closing without any deal in sight.
News
July 08, 2021
Russian Finance Minister Anton Siluanov warned the Kremlin needs to brace for falling revenues after a stress test showed the global clean energy push could lead to a significant decline in demand for fossil fuel exports.
News
July 01, 2021
A preliminary deal struck on Thursday to increase oil production by 400,000 barrels per day was thrown into chaos when the United Arab Emirates threatened to block the deal without a higher output quota for itself.
News
July 01, 2021
Saudi Arabia and Russia have a tentative deal to gradually increase OPEC+ oil output in the coming months, delegates said. The proposal under discussion would add about 2 million barrels a day to the cartel’s output from August to December.
Article
June 2021
Like the rest of us, Russia’s oil and gas industry has been hammered by Covid and the price collapse. But the Bear’s pain, and recovery, is compounded by a pack of uniquely ursine issues.
News
June 24, 2021
The global oil market is calling out for a substantial increase in supplies, but OPEC+ is expected to provide only a fraction of what consumers are demanding.
News
June 22, 2021
Oil retreated after hitting $75 a barrel in London for the first time in more than two years, as Russia and other OPEC+ nations were said to consider increasing production.
News
June 22, 2021
Moscow is considering making a proposal that the group should ease a global supply deficit by increasing output, according to Russian officials familiar with the matter. Other OPEC+ nations are also discussing a potential supply hike in August, although specific numbers haven’t been mentioned.
News
June 04, 2021
“The world risks a severe deficit of oil and gas,” Rosneft CEO Igor Sechin said Saturday at the St. Petersburg International Economic Forum. “The world consumes oil, but isn’t ready to invest in it.”
News
June 03, 2021
If the world were to follow the International Energy Agency’s controversial road map, which said investment in new fields would have to stop immediately to achieve net-zero carbon emissions by 2050, “the price for oil will go to, what, $200? Gas prices will skyrocket,” said Russian Deputy Prime Minister Alexander Novak.
News
May 20, 2021
A natural gas pipeline linking Russia and Germany edged closer to completion after the Biden administration loosened sanctions of the controversial project, but significant hurdles remain before the fuel can start flowing under the Baltic Sea.
News
May 18, 2021
Mikhail Ulyanov, Russia’s representative at the United Nations’ International Atomic Energy Agency, said that while significant progress had been made by officials seeking to orchestrate a U.S. return to the pact abandoned by then-President Donald Trump, “unresolved issues still remain.”
Article
April 2021
What way out of the crisis for Russia?
News
April 21, 2021
“If nothing extraordinary happens, we have already formed our three-month plans,” Russia’s Deputy Prime Minister Alexander Novak told reporters in Moscow on Wednesday, “Our task will be to look at these plans and maybe confirm or adjust them - yet most likely, this is the meeting to assess the current situation,” he said.
News
April 05, 2021
Crude has rallied this year as vaccine rollouts help major economies reopen. The decision by the Organization of Petroleum Exporting Countries and its allies was seen as a vote of confidence in the outlook for energy demand. The U.S. also added more than 900,000 jobs in March, the most in seven months.
News
April 02, 2021
Russia pumped 43.34 million tons of crude and condensate last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That equates to 10.249 million barrels a day, based on 7.33 barrel-per-ton conversion ratio, or 1.3% more than in February.
News
April 01, 2021
Defying market expectations for the second time in less than a month, the group agreed to add more than 2 million barrels a day to global oil supplies from May to July. That will return about a quarter of the crude they are still withholding after making deep cuts a year ago in response to the pandemic.
