Alexei Kokin

Rosneft CEO predicts new oil era

The sanctions policy towards oil markets may lead to the commodity super-cycle and new record oil prices, Chief Executive Officer of Russia’s top oil producer Igor Sechin said at the St. Petersburg International …

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Comeback of South Stream?

Bulgarian President Rumen Radev expressed hope for direct gas supplies from Russia to this country via the Black Sea. Speaking at the meeting with Russian Prime Minister Dmitry Medvedev, he called …

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"Oil prices under influence of geopolitics"

Russia's Energy Ministry is not able to predict oil prices, the country's acting Energy Minister Alexander Novak said. Novak said that global oil prices are currently under the influence of geopolitics but …

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 Oil price at highest level since November 2014

Oil price hit its highest levels today since November 2014 as stockpiles fall and worries about geopolitical tensions in the Middle East weigh on the markets. The cost of Brent crude oil futures contracts deliverable in June 2018 rose …

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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+).

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Will Shanghai International Energy Exchange save oil?

China’s yuan-denominated crude-oil futures surged on their long-awaited debut on the Shanghai International Energy Exchange today, indicating positive initial sentiment toward the new market, which Beijing hopes will eventually give …

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What is threat to Russia's energy security?

Russia's Energy Ministry has prepared a draft energy security doctrine of Russia, where it names the US policy and green energy as major threats, Vedomosti business daily reported with a reference to the document. On March 2, the …

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Lavrov: Balkans need Turkish Stream

Russia's Foreign Minister Sergei Lavrov said that the Turkish Stream gas pipeline project is to improve opportunities for Balkan countries to receive Russian gas. "We and the Turks seek to improve …

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Germany grants permit for Nord Stream 2

The Nord Stream 2 pipeline project has received a permit for construction and operation in German territorial waters and the landfall area around eastern Germany’s Lubmin, the project’s operator said. "The Stralsund …

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 OPEC+ saves oil for another year

The decision of OPEC and non-OPEC producers to extend oil output cuts until the end of 2018 had a positive effect on the oil marketsю Brent crude oil for February delivery are at $63.13 a barrel, and U.S. West Texas …

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Who's to blame for record-high gasoline prices?

Russian Federal Antimonopoly Service commented on the increase in gasoline prices. FAS representative Dmitry Makhonin said that the increase in gasoline prices was caused by speculative activities in the market. …

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 Russia lays out conditions for 'Turkish Stream 2'

Russia is ready to work to extend the Turkish Stream gas pipeline to other European countries only after obtaining substantial legal guarantees from Brussels, Russian Foreign Minister Sergei Lavrov said, speaking at a …

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 Why are they afraid of expensive oil?

Russia should think through a smooth exit from the oil production cut deal between OPEC and non-OPEC nations, which will protect the market from a shortage of raw materials, the President of Russian oil major Lukoil Vagit …

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Russia - US diplomatic clinch: where is way out?

Washington expressed its regret over Moscow's decision to cut the US diplomatic presence in Russia,  a representative of the Department of State said. "The Russian government has demanded the U.S. Mission to Russia …

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Turkish Stream to run through Bulgaria and Serbia

Bulgaria intends to sign an agreement with Serbia on the transit of Turkish Stream gas, Bulgarian Prime Minister Boyko Borisov said. "We signed a road map a few weeks ago - 15.7 billion cubic meters. Tomorrow we …

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Oil in anticipation of new war in Persian Gulf

The current diplomatic rift between Qatar and other Persian Gulf countries will have an insignificant effect on world markets, but the potentially possible prospect of its escalation into a military clash between Arab states can lead to an …

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 Russia proposes to form super-OPEC

Russia proposed to work out new principles jointly with OPEC and non-OPEC nations to continue cooperation even after the current oil output cut deal expires, Russian Energy Minister Alexander Novak said. "It is …

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 Oil price falls despite OPEC deal extension

The price of oil has fallen, despite oil-producing nations agreeing to extend production cuts for a further nine months. The world’s major oil producers have voted to continue their production cuts into 2018 in an attempt to prop …

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OPEC deal to become more global

Egypt, Norway and Turkmenistan made signs of their willingness to join the oil production cuts, Kuwait's oil minister Essam al-Marzouq said. The minister noted that  Saudi Energy Minister Khalid …

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Europe to say 'yes' to Nord Stream 2

European Commission President Jean-Claude Juncker will likely approve the Nord Stream 2 pipeline project: the decision could be announced after Germany’s general elections in September. "EU officials …

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