Alexey Belogoriev

Brent oil hits $80

Brent crude oil is trading at over $80 per barrel for the first time since November 25, 2014, after the US broke the Iran nuclear deal and Total said it would likely withdraw from its South Pars commitments due to US sanctions. Today …

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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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 Naftogaz wants $20 billion more from Gazprom

Ukrainian energy firm Naftogaz intends to prove in a new arbitration dispute that the company under-received funds due to the abnormally low cost of gas transit via the Ukrainian territory, Naftogaz Commercial Director Yuriy …

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Oil prices drop below $65

Oil prices fell to their lowest in seven weeks today amid fears of rising global supplies after Iran announced plans to increase production and US crude output hit record highs. US West Texas Intermediate (WTI) crude for March …

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US output records jeopardize oil markets

US crude oil production broke 10 million barrels a day in November for the first time since production peaked in 1970, the Energy Information Administration said in a monthly report. The US produced 10.038 million barrels a day in …

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Why we should not be afraid of shale oil

The increasing shale oil output does not compensate for the general increase in global demand for "black gold", Russian Energy Minister Alexander Novak said at the economic forum in Davos, …

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Does Armenia give up on its nuclear power plant?

Next summer the Metsamor Nuclear Power Plant will stop for two months for activities on its lifetime extension. Another four months - before and after a complete stop - the station will work at half load. Russia's Rosatom together …

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 Novak: world’s demand for oil to rise

Russia's Energy Minister Alexander Novak said that world’s demand for oil will rise by up to 1% per year in the next 15–20 years.  "I think that the oil consumption will grow in the next couple …

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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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