Alexey Belogoriev

Russian oil companies to be obliged to refine oil

Russia's energy, finance and economic development ministries will oblige Russian oil companies to send at least 17.5% of their annual production to domestic oil refineries, according to the instruction given by Russian Prime Minister …

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What does $85 oil mean?

Oil prices were higher today ahead of upcoming U.S. sanctions on Iran starting next month. Oil prices continue to increase primarily on concerns that the sanctions on Iran and the collapse of Venezuelan production will lead to shortages, as …

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"U.S. attempt to stop Nord Stream-2 fails"

U.S. President Donald Trump's statement on the Nord Stream-2 project is a pragmatic and reasonable political decision, the head of the Russian State Duma Committee on Energy, president of the Russian Gas Society Pavel …

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"OPEC+ fulfills its task"

The OPEC deal has practically fulfilled its task, Russia’s Energy Minister Alexander Novak said, speaking today in the Federation Council.  "This agreement has practically fulfilled its task of leveling …

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Will Nord Stream-2 split EU?

Estonia's Foreign Minister Sven Mikser demanded to stop the implementation of the Nord Stream-2 project, explaining it by the fact that the pipeline will increase Europe's energy dependence on Russia. …

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Will OPEC+ ease oil deal?

OPEC members are discussing a compromise agreement that would see an oil production increase of 300,000-600,000 barrels per day over the next few months, according to people briefed on the talks, Bloomberg reported. OPEC officials are …

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Seul asks Gazprom to build gas pipeline

Russia's Gazprom has resumed talks with the South Korean authorities on the construction of a gas pipeline through the territory of North Korea, Deputy CEO Vitaly Markelov said. "To date, the political …

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EU closes Gazprom case

Russia’s Gazprom has settled its seven-year antitrust case with Brussels, avoiding a fine by promising reforms that European officials hope will make the central and eastern European gas market more competitive. …

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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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