Prices of the Russian oil export blend Urals crossed the line of $80 a barrel at night of October 5, for the first time since 2018, the international price agency Argus said. Urals prices climbed to $80.8 per barrel in Northwestern …
Russia now has profitable oil reserves for twenty years, - Yevgeny Petrov, acting head of the Federal Agency for Mineral Resources, said on the sidelines of the Tyumen Oil and Gas Forum. "Profitable oil reserves will last for about …
Oil production in Russia will reach the pre-crisis level in May 2022, Russian Deputy Prime Minister Alexander Novak said on Sunday. "It was decided to increase [oil] production to the pre-crisis level. As for Russia, we will reach …
Average price of Russia’s Urals oil rose to $70.1 per barrel for the first time since May, 2019, according to Argus. The last time the price of Russia's oil was above $70 per barrel in the northwest region of Europe on May 22, …
The Azerbaijani state oil company SOCAR has become an export operator of Rosneft's oil products to Ukraine, the corresponding contract has already been signed with the Russian side, the Ukrainian newspaper Enkorr reported citing market …
OPEC and partners are betting on a significant boost in oil demand over the coming months as member states get ready to ramp up oil production
At the current level of technological development, Russian oil reserves will last for another 58 years, Evgeny Kiselev, Deputy Minister of Natural Resources and Ecology of the country, the head of Rosnedra informed. He drew attention to …
Russian oil shipments to the U.S. hit a record high last year, according to calculations by Bloomberg, while at the same time Washington was amping up its warnings about Europe’s energy dependence on Russia. Russia …
According to the data of the Federal Customs Service (FCS), in 2020, Russia lost significant revenues due to a decrease in energy exports amid the coronavirus pandemic and a drop in demand. So, in January-October 2020, oil exports from …
The deal to cut OPEC + oil production in November 2020 was completed by more than 100%, Russia’s Deputy Prime Minister Alexander Novak said at a press conference following the meeting of the OPEC+ countries. "We have summed …
The OPEC+ countries agreed on the parameters for cutting oil production in February and March, which will amount to 7.125 mln bpd, two sources in OPEC said. Now the alliance countries are cutting production by 7.2 mln bpd. However, in …
According to the data of the Central Dispatching Department of the Fuel Energy Complex, oil and gas condensate production in Russia decreased by 8.6% - to 512.68 million tons in 2020. Thus, the largest reduction was documented in …
Russian companies confirmed requests for supplies of 1.21 mln tonnes of crude oil to Belarus in August, press secretary of Belneftekhim holding Alexander Tischenko said. "Russian companies confirmed requests for supply of 1.21 …
Russian Energy Minister Alexander Novak said that the global oil market could face a shortage of 3-5 million barrels per day (bpd) in July, depending on a deal to be reached by OPEC+ producers. According to the Russian minister, …
Rosneft will fulfil all obligations under supply contracts despite output cuts as part of the OPEC+ deal, Rosneft CEO Igor Sechin said in a statement on Friday. "There is no doubt Rosneft will strictly fulfil all …
Russia overtook Saudi Arabia as China’s top crude oil supplier in April, customs data showed, with imports rising 18% from the same month a year earlier as refiners snapped up cheap raw materials amid a price war between the two …
The OPEC+ deal will not prompt an immediate sharp rise in oil prices, but should the international community manage to curb the COVID-19 outbreak, it is possible that prices could rise to between $40 and $45 a barrel, Russia’s Gazprom Neft …
Belarus expects to buy 2 million tonnes of oil at a price of about $4 per barrel from Russia in April, Prime Minister of Belarus Sergei Rumas said. "As for the premium, I can repeat what I said two weeks ago: …
China’s state oil company Sinochem Corp is rejecting any crude cargo "from or related to" Russia’s state oil major Rosneft before U.S. sanctions on a Rosneft unit take effect in May, two sources with direct knowledge of the …
