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Russia not to join OPEC, but...

Russia’s Energy Minister Alexander Novak said that Russia and OPEC may assume joint efforts on balancing the oil market after completion of the crude production cut deal (OPEC+).

Russia preparing trade response to US

Russia has started to consider measures to introduce retaliatory duties on the US, Russia's Deputy Minister of Industry and Trade Viktor Evtukhov said. Speaking about terms, the deputy minister said that it …

Russia to give $19 billion to "bad debts" bank

Russia’s Central Bank will provide Trust Bank with a combined 1.1 trillion rubles ($19.17 billion), Central Bank Deputy Governor Vasily Pozdyshev said. The banks’ problematic assets could be united under …

Urals average price rises 25.3%

  Average price of Russia’s Urals oil rises 25.3% to $65.22 per barrel in January-March, 2018 compared to the same period last year, the country's finance ministry said. In January-March, 2017, the …

China slaps retaliatory tariffs on US imports

China has increased tariffs by up to 25% on 128 US products including frozen pork, wine and certain fruits and nuts, escalating a spat between the world’s biggest economies in response to US duties on imports of aluminum and steel. …

Bahrain discovers largest oil discovery since 1932

Bahrain said that it had discovered the country's largest oilfield in decades, located off the west coast of the kingdom, the BNA news agency reported.  According to the agency, the new tight oil and deep gas resource is …

Lawsuit filed against owners of Summa company

Law enforcement officers suspected the co-owners of the Summa group, Magomed Magomedov and Ziyavudin Magomedov, of embezzlement and creation of a criminal community, the press secretary of Moscow’s Tver court, Anastasia Dzyurko, said …