Valery Bessel

Turkish Stream to reach Turkey in December

The construction of the sea part of the Turkish Stream pipeline will be completed in two months, Gazprom CEO Alexei Miller said. The  construction of the Turkish Stream pipeline is underway," TASS cited …

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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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Oil prices rise on Norway strike

Hundreds of workers on Norwegian offshore oil and gas rigs went on strike today after rejecting a proposed wage deal, leading to the shutdown of one Shell-operated field and helping send Brent crude prices higher. Norway is Western …

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Will Naftogas seize Gazprom's European property?

Russian gas giant Gazprom said it was aware of actions by Ukrainian oil and gas firm Naftogaz to enforce an arbitration court ruling. Naftogaz said earlier today it had initiated the enforcement of a $2.6 billion award from the …

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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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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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 Russia starts exporting gas to US

First Russia's liquefied natural gas (LNG) shipment will be delivered to the US in January: Engie's tanker carrying a cargo from the Yamal LNG project in Russia is heading to Boston as freezing weather in the northeast of the US …

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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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Russian gas returns to Europe

Gas transit through the Baumgarten hub in Austria has been restored, the director of the Gas Connect Austria operator, Harald Stindl, said. "I can report that yesterday we managed to restore all the transit …

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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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Will Ukraine confiscate Russian gas from Europe?

Kiev's Economic Court has changed the way of enforcing a court decision to recover a fine of $6.7 billion from Russia's Gazprom, extending penalties to all property of the debtor,  the Minister of Justice of Ukraine Pavel Petrenko said.

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 Why are they afraid of expensive oil?

Russia should think through a smooth exit from the oil production cut deal between OPEC and non-OPEC nations, which will protect the market from a shortage of raw materials, the President of Russian oil major Lukoil Vagit …

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Will additional 1% be able to save OPEC deal?

Iraq and some other oil producers taking part in global output cuts think they should reduce supply by an additional 1% to help re-balance the market, Iraqi Oil Minister Jabbar al-Luaibi said at a conference in the emirate of …

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 Gazprom to build Turkish Stream at its own expense

Investment in the Turkish Stream gas pipeline project are estimated at $6 bln, the project can be implemented only at the expense of Gazprom, Deputy Chairman of Gazprom Management Committee Andrey Kruglov said at a press …

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