Igor Yushkov

Russia freezes gas production

Russia does not plan to increase gas production in 2018, freezing it at the level of 2017, Russian Minister of Energy Alexander Novak said, adding that everything will depend on the weather conditions. "As for …

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Will Russia join OPEC?

Saudi Arabia and Russia are working on a historic long-term pact that could extend controls over world crude supplies by major exporters for many years, Reuters reported. Saudi Crown Prince Mohammed bin Salman said that …

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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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 OPEC hikes 2018 forecast for oil supply growth

OPEC said it expects demand for oil to grow faster than it originally expected in 2018, but the organization also sees supplies from beyond the producer group surging this year, driven by rising US output. The cartel said it now sees …

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 Europe agrees to buy Russian gas bypassing Ukraine

European purchasers of Russian gas have expressed a desire to receive it through new corridors and not through Ukraine after the expiry of the long-term transit contract signed between Gazprom and Ukraine's Naftogaz in 2019, …

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Does OPEC+ deal have a future?

Saudi Arabia proposed to make the deal between OPEC and their non-OPEC allies permanent after the completion of a deal to reduce oil production, Saudi Energy Minister Khalid al-Falih said. "At the end of the year, …

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Ukraine agrees on Russian gas

Naftogaz Ukraine will return to buying gas from Russia this year, ending a more than two-year hiatus, as a result of a ruling by a Swedish arbitration court on its gas dispute with Moscow, the head of Ukrainian firm Naftogaz Andriy …

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Oil prices approaching $70 per barrel

Oil prices hit their highest since 2014 today due to ongoing production cuts led by OPEC as well as healthy demand, although analysts cautioned that markets may be overheating. WTI crude futures were at $63.44 a barrel, 0.8% above their …

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What does 2017 bring for oil market?

2017 was hard, but productive year for the world oil market, energy experts said in an interview with Vestnik Kavkaza, summing up the oil results of this year. The executive vice-president of NewTech Services, professor of the Gubkin …

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 OPEC+ saves oil for another year

The decision of OPEC and non-OPEC producers to extend oil output cuts until the end of 2018 had a positive effect on the oil marketsю Brent crude oil for February delivery are at $63.13 a barrel, and U.S. West Texas …

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Chubais threatens Russia with energy crisis

Russia may face new power crisis in 6–7 years, unless new capacities will be introduced in the country, the head of Rosnano Anatoly Chubais said, speaking with Rossiyskaya Gazeta.

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Will Kurdish oil be blocked?

Turkey, Iran and Iraq will jointly decide on closing the flow of oil from northern Iraq, Turkish President Recep Tayyip Erdoğan said, as the three neighbors mull retaliatory moves after the Kurdistan Regional Government (KRG) …

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Russia's Gazprom ranks first in global power rating

Russia's Gazprom snagged the number 1 spot in the 2017 S&P Global Platts Top 250 Global Energy Company Rankings, ending U.S. oil and gas giant ExxonMobil's 12-year reign at the top of the list  Germany's E.ON …

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Russia retains global oil leadership

Russia’s oil production amounted to 10.183 mln barrels per day in June 2017, outpacing Saudi Arabia’s oil production by 2.3% (9.95 mln barrels per day), according to the documents released by the state statistics service Rosstat. …

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Oil prices come back to May level

Oil futures rose today after official figures showing U.S. crude inventories fell more than expected. The prices of October futures for Brent oil have risen by $0.43 (0.8%) to $53.12 per barrel on the ICE Exchange in London, which is …

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 Excellent result of OPEC+

OPEC Secretary General Mohammad Barkindo evaluates the results of the deal of OPEC and non-cartel oil producers to cut oil output as excellent. "Both OPEC and non-cartel countries, in spite of all difficulties, in …

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OPEC+ prepare continuity strategy

Participants in the OPEC+ oil production limiting agreement are working on the continuity strategy instead of preparing the strategy for exit from the deal expiring in March 2018, OPEC Secretary General Mohammed Barkindo said on the sidelines of …

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