Russian Oil

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 Russia bans oil exports to Ukraine

The Russian government has banned exports of Russian oil and petroleum products to Ukraine, Russian Prime Minister Dmitry Medvedev said. "[The Russian government] bans exports of Russian oil and petroleum products …

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Novak announces possible recovery of oil production

The recovery of oil production in the framework of the OPEC + alliance after June is possible if there is unmet demand on the market, Russian Minister of Energy Alexander Novak told journalists on the sidelines of the International Arctic Forum …

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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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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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Rosneft CEO: OPEC agreement to end abruptly

Russian oil company Rosneft served notice that it would step up production if the agreement among major crude producers to curb output comes to a sudden end, Rosneft's chief executive, Igor Sechin, told the Financial …

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 Sechin: everyone should join OPEC deal

Rosneft Chief Executive Officer Igor Sechin, speaking at the summit of the heads of energy companies within the framework of the St. Petersburg International Economic Forum, noted that the failure of all major oil-producing …

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Russia does not withdraw OPEC deal

Russia does not discuss the possibility of leaving oil output reduction deal with Organization of the Petroleum Exporting Countries (OPEC) and did not express dissatisfaction with its results, a source in the cartel said. "There …

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Russia cut oil output under OPEC agreement

Russia has already cut oil production under a deal with OPEC by 200,000 barrels a day and plans to reduce it by 300,000 barrels a day by late April, the Russian Energy Minister Alexander Novak told CNBC at the Arctic forum in …

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 Novak reveals huge Russia's hydrocarbon reserve

Russian Energy Minister Alexander Novak said that the Arctic is a future of Russia's oil and gas production. "The Arctic shelf is a huge hydrocarbon reserve that possesses billions of tons of oil and tens of …

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 Russia lost $26 billion on oil and gas exports

Russia is making less money on oil and gas exports, according to the data published today by the Federal Customs Service. In 2016, the revenues from oil and gas exports declined by 17.7% (compared to 2015) and amounted to $73.676 billion. …

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