Igor Yushkov

Germany boycotts benefits for Nord Stream 2?

The Bundestag failed to adopt amendments to the EU gas directive, which would soften the law for Russia's Nord Stream-2 gas pipeline, according to the DPA agency. Before deciding on the directive, the right-wing party …

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Gas packing of Turkish Stream's first line starts

Gas packing of the first line of the Turkish Stream pipeline has started, the last testing stage before the launch, South Stream Transport, the operator of the project said in a statement. "Natural gas packing of the first out …

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Turkey starts construction of 2nd Akkuyu block

The construction of the Akkuyu nuclear power plant continues as planned, Turkish Energy Minister Fatih Donmez said. The project is being implemented as planned, he said in an interview with Bloomberg. …

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Will Turkish Stream go to Moldova?

Chisinau is in talks with Russian gas giant Gazprom to receive gas via the Turkish Stream pipeline, Moldova's Economic Minister Vadim Brynzan said. "We are holding negotiations with Gazprom to get gas …

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Iran's oil output slumps to new low

Crude production in Iran declined to 2.28 million barrels per day (mbpd) in June, according to the Oil Market Report from the International Energy Agency (IEA). The production in Iran declined by 120 thousand b/d, "hovering at a …

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Nine-month extension of oil output cut deal agreed

OPEC + countries voted in favor of joining the OPEC decision to extend the oil output cut deal for nine months while maintaining the quota of the old agreement. "Thank you very much; I believe that we have now joined the decision …

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What to expect from OPEC+ meeting in July?

OPEC has agreed to move its next meeting to July 1, followed by a meeting with non-OPEC allies on July 2, according to new dates posted on the website of the Organization of the Petroleum Exporting Countries. OPEC and allies were …

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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 …

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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 …

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Russia urges Europe to protect Iran from U.S.

Russian Foreign Minister Sergei Lavrov, speaking after talks with Iranian Foreign Minister Mohammad Javad Zarif in Moscow, said that Russia and Iran agreed to cooperate with all signatories to …

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 All Russian oil to be subject to excess-profits tax?

After monitoring and analyzing the impact of a pilot project of introducing the excess-profits tax in the oil industry, the Russian Ministry of Energy may propose the final transition to the excess-profits tax in the oil industry, the Russian …

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Saudi Aramco named world's most profitable company

Saudi Aramco was the world's most profitable company in 2018 with net income of $111.1 billion, easily outstripping U.S. behemoths including Apple Inc. and Exxon Mobil Corp, Bloomberg reported with reference to Moody's Investors …

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Nord Stream 2 to come into service in November

The first string of the Nord Stream 2 pipeline is expected to be finished in November, Chief Financial Officer at Nord Stream 2 AG Paul Corcoran said during the European Gas Conference. The construction of the …

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What does Venezuela crisis mean for Russia?

Russia may scale down military-technical cooperation with Venezuela, Russian Federation Council member Frants Klintsevich said. "It was a real aggression from the United States in Venezuela, they used …

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