Igor Yushkov

Russia to start importing gas from Turkmenistan?

The head of Russia's giant gas company Alexei Miller said it plans to resume imports from Turkmenistan after a three-year break over a pricing dispute. In an interview with Turkmenistan's state television …

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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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Iran gives reply to 'oil bulls'

Managing director of the National Iranian Oil Company (NIOC) Ali Kardor said Tehran has no plans for any reduction in the country’s oil output despite the looming US sanctions. "We are not planning on …

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"Oil price to sink to $60"

S&P Global Ratings revised its oil prices forecast for the coming years, director of corporate ratings for S&P Global Ratings Alexander Gryaznov said. "We revised our short-term forecast, and …

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Russia to set coal production record

Russia can top a soviet coal production record of 420 million tonnes in 2018, while investments may amount to 130 billion rubles a year, Russia's Energy Minister Alexander Novak said, speaking at a meeting with government officials and top managers of energy companies.

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Russia to establish new OPEC

New OPEC-Russia organisation may start its work on 1 January 2019, Russian energy Minister Alexander Novak said today. The minister specified that it will retain the functions of regulating oil production and will …

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Global debt hits record $247 trillion

The amount of debt held by both mature and emerging markets tracked by the Institute of International Finance (IIF) rose to a record $247 trillion in the first quarter of 2018, up 11.1% from the same period a year ago. The report …

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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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$100 a barrel oil not expected

There is no reason for oil to hit $100 a barrel,  BP Chief Executive Bob Dudley said. "There are people who predict the oil price of $100 per barrel. I do not think it will reach $100 unless there are any …

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"Oil prices under influence of geopolitics"

Russia's Energy Ministry is not able to predict oil prices, the country's acting Energy Minister Alexander Novak said. Novak said that global oil prices are currently under the influence of geopolitics but …

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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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