Russian Oil

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 OPEC reference basket below $39

The OPEC reference basket of crudes dropped by $0.82 (2.06%) to $38.97 per barrel. The price was $39.79 per barrel the previous day. The average price in July is $42.68 per barrel, in 2016 - $37.2 per barrel, RIA Novosti reports. …

 Russia raises oil exports

Russian crude exports rose 4.9% to 5.55 million barrels a day in the first half of the year from the same period in 2015, according to data from the Russian Energy Ministry. Export is on track to set a record this year, Bloomberg …

 Bloomberg: China and India may buy Rosneft

Russia is considering selling part of Russia’s Rosneft to China and India, Bloomberg reports. Russia is seeking buyers for 19.5% of state oil champion Rosneft OJSC and would prefer a joint deal with the two nations leading the …

Russian determines investor for last major oil field

Kremlin determined investor for the last major oil field that Russia has. RBC reports that the Arab Mubadala investment fund may obtain a minority stake in the project of development of the Erginskoye oil field. As the …

"Lukoil" starts drilling in Caspian Sea

"Lukoil" plans to start drilling at the Filanovsky field in the Caspian Sea in June and production - in September. "Lukoil" will build more than 25 platforms for the development of the North Caspian fields, total …

Russia raises duties on oil and oil products

Russia's oil export duty was increased by $14.6 to $80.6 per ton from June 1, the Ministry of Economic Development said. Reduced custom fees for oil from Eastern Siberia, Northern Caspian and the Prirazlomnoye Field were still …

OPEC raises Russia’s oil production forecast

OPEC has increased Russia's oil production forecast, expected to grow up to 10.94 million barrels per day (mb/d) in 2016, OPEC said in its monthly oil market report. Russia's oil production is expected to grow by 0.89 percent, …

Russia increases its oil exports by 5%

The administration of the central dispatch of the Energy Statistics published today the Russian oil industry’s statistics in January-April 2016, from which it follows that Russian oil exports in this period increased by 5.1% to …