Alexey Belogoriev

Moscow and Ankara start Akkuyu NPP project

Russia and Turkey have started the creation of a consortium for the construction of the first Turkish nuclear power plant project Akkuyu. Akkuyu NPP project includes four power units with Russian VVER-1200 3+ generation …

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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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 Sechin: everyone should join OPEC deal

Rosneft Chief Executive Officer Igor Sechin, speaking at the summit of the heads of energy companies within the framework of the St. Petersburg International Economic Forum, noted that the failure of all major oil-producing …

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 Russian-Iranian oil deal finalized

The oil-for-food deal between  Russia and Iran is done, Iran’s petroleum minister Bijan Namdar Zanganeh said, adding that Iran expects supplies from Russia. "The deal is finalized and being carried out …

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Ukraine to seize Russia's Gazprom property

Ukraine’s supreme economic court dismissed on Tuesday the appeal of Russian energy giant Gazprom which was demanding a reversal of the decision of lower courts on enforced recovery of around $6.4 billion in fines from the country in favor …

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OPEC deal does not save oil - oil prices hit bottom

The cost of the July futures of Brent crude oil on London's ICE trading decreased by 2.8% to $46.63 per barrel, breaking the minimum of November 29, 2016. For the first time since November 30, 2016 the oil price declined below the …

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Oil prices dropping suddenly

The prices of May futures for Brent oil have declined by 2.7% to $51.62 per dollar on the ICE Exchange in London for the first time since the early December 2016. The April futures for WTI oil fell to $48.88 per barrel at the New York Mercantile …

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 Russia lost $26 billion on oil and gas exports

Russia is making less money on oil and gas exports, according to the data published today by the Federal Customs Service. In 2016, the revenues from oil and gas exports declined by 17.7% (compared to 2015) and amounted to $73.676 billion. …

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EU's gas dependence on Russia hits new record

The share of Gazprom's gas in the balance of non-CIS countries receiving Russian gas in 2016 reached 33.5%, after 31% in 2015. Gazprom Export's December corporate bulletin Blue Fuel notes a steady increase in the company's …

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First line of Turkish Stream to be build in year

South Stream Transport B.V. signed a contract with Swiss company Allseas Group S.A. in Amsterdam for construction of the first line of the offshore section of Turkish Stream with an option for construction of the second line, Gazprom said in …

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Will fate of oil be decided in Moscow?

OPEC meeting with non-members of the cartel on cutting oil production may be moved from December 9 to 10 from Doha to Moscow, this topic is now being actively discussed by OPEC and Russia, an informed source said. The representative of …

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Oil prices rise sharply as OPEC reaches agreement

World oil prices have risen sharply after the OPEC decision to limit the level of oil production by 1.2 million barrels per day to 32.5 million.  The Agreement will be effective from January 1, 2017. As of 08.51 am (MSK), the …

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What oil price OPEC and Russia need?

In order to balance their budgets, largest oil-producing countries in the world require different price of "black gold". According to Bloomberg, this leads to disagreements over the need to reduce oil production level. …

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Oil market sets records in anticipation of November 30

Wagers on higher and lower prices held by speculators and hedgers reached 1.47 million contracts in the week ended Nov. 15, the most since 2007, US Commodity Futures Trading Commission data show.  “There’s tension in …

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Will EU abandon gas transit through Ukraine?

The European Union (EU) is ready to abandon the natural gas transit through Ukraine, AFP reports. The reason is the fact that Ukraine does not ensure the unconditional implementation of the energy regulations of the EU including a ban …

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Has Riyadh refused to be on oil ‘price war’ path?

Saudi Arabia has decided to abandon its strategy for growth in oil exports to Asian markets and it is is gradually giving opportunities to its competitors for further increase in prices. It follows from the data on the import of hydrocarbons and …

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Ukraine requests resumption of Russia's gas supplies

Gazprom has received a letter from Ukraine’s Naftogaz requesting resumption of natural gas supplies, the Chief Executive Officer of the Russian gas holding Alexey Miller said. “We have indeed received a formal letter from the Chief Executive of Naftogaz of Ukraine with a request to resume natural gas supplies. Nine months are meant: the second half of 2016 and the first quarter of 2017, that is, the forthcoming winter and the preparation period. The change in Ukrainian company’s mood is understandable. Daily reverse from Europe dropped 6.4 times in June as compared to May and 16.8 times vs. April,” TASS cited Miller as saying.

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