Valery Nesterov

OPEC oil output cut deal exceeded by 33%

OPEC Secretary-General Mohammad Barkindo said that the organization registered 133% compliance with agreed output reduction targets in January across all participating OPEC and non-OPEC countries. According to Barkindo, …

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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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 Russia starts exporting gas to US

First Russia's liquefied natural gas (LNG) shipment will be delivered to the US in January: Engie's tanker carrying a cargo from the Yamal LNG project in Russia is heading to Boston as freezing weather in the northeast of the US …

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Russian gas returns to Europe

Gas transit through the Baumgarten hub in Austria has been restored, the director of the Gas Connect Austria operator, Harald Stindl, said. "I can report that yesterday we managed to restore all the transit …

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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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Russia wants 'ironclad guarantees' on Turkish Stream

Russia counts on the European Union's ironclad guarantees on the Turkish Stream pipeline project's second leg, given the disappointing experience of the South Stream project, Russia's Deputy Foreign Minister Alexei …

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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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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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Russia has no plans to build Turkish Stream blindly

Russia has no plans to begin construction of the second line of the Turkish stream in Europe without any guarantee and approval from the European Commission. "Of course, no one will build it blindly, because it is associated with …

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Russia expects three more years of cheap oil prices

Oil prices will be hovering around $40-60 per barrel in 2017-2019, the Russian Finance Ministry’s Main guidelines for 2017-2019 debt policy said. "The oil price dynamics will still be one of the key risks for the Russian …

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Will Russia and US return to dialogue on energy?

Russia and the US should return to the dialogue on energy both countries enjoyed in 2014 before the US and European sanctions, Russia's energy minister Alexander Novak said, speaking to CNBC in Vienna. …

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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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Russia ready for construction of Turkish Stream

Russia’s gas transportation infrastructure for gas supply to the marine gas pipeline is ready, the head of Gazprom Alexei Miller said at the meeting with the Russian President Vladimir Putin. According to the intergovernmental agreement, Russia will construct two pipes under the Black Sea to Turkey with capacity totaling 31.5 billion cubic meters of gas, pursuant to the intergovernmental agreement. "According to the schedule, both pipes will be ready by end-2019," he said.

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