Economy

page 3
Oil prices edge up

Oil prices edge up

World oil prices returned to positive dynamics lifted by reports of Saudi supply cuts to Asia. As of 08:48 (MSK), prices for March futures for Brent oil rose by 0.15% to $53.72 per barrel, the February futures price for WTI crude oil …

The Secrets Behind Russia’s 2016 Oil Success

The Secrets Behind Russia’s 2016 Oil Success

A combination of tax measures, the dollar's value and benefits of a cheap production

Fuad Isgandarov: Azerbaijan needs strong foundation to build relations with EU

Fuad Isgandarov: "Azerbaijan needs strong foundation to build relations with EU"

Azerbaijani Ambassador to Belgium on the prospects of Baku's relations with the EU

Dollar to hit parity with euro in 2017

Dollar to hit parity with euro in 2017

The dollar is likely to hit parity with the euro during 2017 driven by diverging paths for interest rates, according to Goldman Sachs' chief economist. The Federal Reserve is likely to hike interest rates three times in 2017, …

 Medevedev: Russian government accomplishes most of 2016 tasks

Medevedev: Russian government accomplishes most of 2016 tasks

The Russian government managed to fulfill most of the economic development tasks in 2016 despite sanctions, including implementation of support programs for several industries, Russian Prime Minister Dmitry Medvedev said at the …

Transneft suspends transportation of Azeri oil

Transneft suspends transportation of Azeri oil

Russia’s Transneft Company has suspended oil transportation from Azerbaijan to Novorossiysk port due to repair works in Makhachkala, Transneft spokesman Igor Demin said.   No information was released …

Iran and China to build joint industrial park

Iran and China to build joint industrial park

Iran and China will jointly build an industrial park in Iran's southern port city of Jask, the governor of the Hormozgan province Jasem Jaderi said. According to him, the industrial park will be built …

Russia starts oil output cuts

Russia starts oil output cuts

Russia has begun cutting oil output within the framework of last year's agreement among major producers to limit supply and bolster global prices, a source familiar with the course of the agreement said.

Gazprom and Georgia to discuss gas transit to Armenia

Gazprom and Georgia to discuss gas transit to Armenia

Georgian Deputy Prime Minister, Energy Minister Kakha Kaladze will meet with the management of Gazprom Export to discuss the conditions for the transit of Russian natural gas to Armenia in 2017. "We have a position …

Russian gas flows to Europe, Turkey break new records

Russian gas flows to Europe, Turkey break new records

Cold weather across Europe triggers increased demand for Gazprom gas

Oil Prices Fall On Concerns Of Rising US Production

Oil Prices Fall On Concerns Of Rising US Production

Most analysts see tighter-than-previously-envisaged balances for 2017

Ruble strengthens during New Year holidays

Ruble strengthens during New Year holidays

While Russia was celebrating the New Year, the Russian national currency has been steadily growing, partly ceased to be dependent on oil prices and the dollar due to the rise in the US Federal Reserve's rate. On January 3, the …

Gazprom#039s 2016 non-CIS gas exports set record

Gazprom's 2016 non-CIS gas exports set record

Russia's Gazprom energy company set an industry record of 179.3 billion cubic meters of gas exported to non-CIS countries in 2016, Gazprom CEO Alexey Miller said. The 12.5% year-on-year increase is equivalent to …

Russia may cut oil supplies to Belarus - media

Russia may cut oil supplies to Belarus - media

Russia is planning to curtail oil supplies to Belarus in the first quarter of 2017 from 4.5 mln tonnes to 4 mln tonnes after the sides failed to hammer out a solution to the gas dispute at the end of 2016, Kommersant writes on Monday citing …

Azerbaijan to increase oil transportation through Russia

Azerbaijan to increase oil transportation through Russia

In 2017, SOCAR plans to export about 1.5 million tons of oil through Russia, while in 2016 this figure is expected to reach 1.3 million tons. Azerbaijan’s State Oil Company SOCAR and Russia’s Transneft have agreed on …

Construction of pumping station in Makhachkala to be completed in six months

Construction of pumping station in Makhachkala to be completed in six months

The pumping station in Makhachkala will be built in June of this year, the Ministry of Construction of Dagestan informed. It is specified that the main purpose of this station is to bring the quality of drinking water supplied through …

Crimea receives first gas from Kuban

Crimea receives first gas from Kuban

Gas from Krasnodar Territory has finally arrived to Crimea through a new gas pipeline, the pipeline will work normally in the near future, member of the State Duma Committee on Energy, former First Deputy Prime Minister of Crimea …

OPEC oil output falls from record highs

OPEC oil output falls from record highs

Saudi Arabia pumped less after seeing record output in November

Everything you need to know about Europe’s hottest political events

Everything you need to know about Europe’s hottest political events

Which events investors cannot afford to ignore

Azerbaijan-based PASHA Bank to enter SME market

Azerbaijan-based PASHA Bank to enter SME market

The bank plans to provide finances for SMEs