Alexei Kokin

"One can forget about oil at $100 per barrel"

Russia’s Energy Minister Alexander Novak expressed an opinion that everyone has forgotten about oil at $100 per barrel. "We live based on mid-term oil price assumptions of $50 ... Our budget is based in …

Read
Poland to stop buying Russian gas?

Poland will not buy Russian gas after 2022, the government’s strategic energy infrastructure commissioner Piotr Naimski said. “Both Baltic Pipe and expansion of the liquefied natural gas (LNG) terminal is …

Read
What to expect after July OPEC+ summit?

OPEC+, a group of 24 oil-producing countries, look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia, Iraq and Russia in endorsing a policy aimed at propping up the price of crude …

Read
Oil price drops back to $60

Oil prices fell today amid a global economic slowdown that is starting to hit oil demand, triggering calls in producer club OPEC for supply cuts to be extended. Brent crude futures, the international benchmark for oil prices, were …

Read
China stops buying Iranian oil

China and a number of other states have stopped buying oil from Iran after the U.S. announced a decision not to extend exemptions from its sanctions for certain countries, the Wall Street Journal reported, citing sources in the Iranian oil …

Read
EU Gas Directive comes into effect

The updated EU Gas Directive came into effect today, European Commission Spokesperson Anna-Kaisa Itkonen confirmed. “A procedure has been launched to adapt the national legislations of the EU …

Read
Gazprom net profit doubles in 2018

The net profit attributable to shareholders of Russian gas giant Gazprom doubled to 1.456 trillion rubles in 2018, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement posted on its website. …

Read
OPEC deal overfulfilled by 55%

The OPEC states reduced oil production by 534,000 barrels a day in March to 30.02 million barrels a day, mostly due to reduction in Saudi Arabia, Venezuela, Iraq and Iran, OPEC said in a report. Thus, the OPEC+ oil output cut deal was fulfilled …

Read
Russia to boost its share on LNG market

Russia’s Energy Minister Alexander Novak said that the share of liquefied natural gas (LNG) on the global gas market may double to reach 70% by 2040. According to him, the segment of LNG production has "huge …

Read
Gasoline prices decline in Russia

Retail prices of the regular (Ai-92) and the premium (Ai-95) gasoline declined in a number of Russian regions last week, according to data provided by the Central Dispatching Department of Fuel Energy Complex. It was the first decline …

Read
Venezuela crisis puts oil market in panic mode

Oil rose today, shaking off persistent concern about the outlook for demand after the U.S. government said it could impose sanctions on OPEC member Venezuela's crude exports. Brent crude futures were up 10 cents at $61.24 a barrel …

Read
Oil future decided in Vienna

The OPEC/non-OPEC Joint Ministerial Monitoring Committee is expected to outline the guidelines for the overall oil output level in 2019 at the meeting in Vienna on December 5-7.

Read
Russia to face decade of oil price at $50

Russia’s Economic Development minister Maksim Oreshkin said that the ministry expects the oil price to slip to $50 per barrel by 2025-2030 and stay at that level long-term. According to him, this trend is …

Read
Russia earns nothing from expensive oil

Russia's economy has received almost nothing from high oil prices, as all the income was evened by  a net capital outflow, which was intensified as a result of the fear of new sanctions, Chief Economist of VEB development bank …

Read
Oil prices down on surging output, but sanctions loom

Oil prices fell today as surging output by the world's three largest producers outweighed supply concerns from the start of U.S. sanctions next week against Iran's petroleum exports. Brent crude futures were at $72.60 per barrel …

Read

Populars