Russian Energy Ministry

Russia cannot disclose plans on OPEC+ deal yet

Russia’s position on the future of the OPEC+ agreement cannot be disclosed yet, Russian Energy Minister Alexander Novak said. He said there was no decision yet on whether to exclude Russian gas condensate …

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Novak to Sefcovic: Europe interested in Nord Stream 2

The issue of Denmark giving a permit to build the Nord Stream 2 pipeline through its territorial waters was discussed only in the framework of bilateral talks between Russia and the European Commission, Russian Energy Minister Alexander …

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Novak and Sefcovic discuss gas transit via Ukraine

Russian Energy Minister Alexander Novak has discussed gas transit through Ukraine, as well as the relationship between Russia and the European Union within the framework of the BRELL project (single energy system of Belarus, …

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"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 …

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Crimea ready to supply electricity to Ukraine

Surplus electricity generated in Crimea can be supplied to Ukraine but only after restoration of power transmission lines in its territory, Russia’s Deputy Prime Minister Andrei Cherezov said. "[Power …

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Novak: OPEC+ sees no crisis events in oil market

Russian Energy Minister Alexander Novak said OPEC+ ministers see no crisis events that call for an emergency meeting now to regulate oil output. “Of course, demand is affected by the status of the global …

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Novak: 'black swans’ increasingly affect oil market

The situation on the oil market is almost stable, though the pressure of geopolitical factors is becoming increasingly strong, which makes forecasting more difficult, Russia’s Energy Minister Alexander Novak told a session …

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Nord Stream 2 route to go round Denmark?

Russia’s Energy Minister Alexander Novak expects the Nord Stream 2 project to be implemented in the applied variant despite the delay with Denmark’s issue of permit. "The project is being …

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Russian Energy Week kicks off in Moscow

The 3rd Russian Energy Week International Forum has opened in Moscow. The event will be attended by Russian President Vladimir Putin, energy ministers from a number of countries, representatives of major international …

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 Novak hopes for good demand for oil in 2020

Russian Energy Minister Alexander Novak said that improving U.S.-China trade relations may mean that global oil demand will not contract. "I think that the market will have enough supply, while demand …

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Novak: tension in Persian Gulf not fault of Iran

Russian Energy Minister Alexander Novak said that Iran is not the cause of instability in the Persian Gulf and that sanctions against the country are “unlawful.” "As regards restrictions on Iranian …

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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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