Russia
News
January 10, 2024
Russia’s crude output in December was almost 60,000 bpd lower than the prior month and some 375,000 bpd below the February baseline for its production curbs. Russia has pledged to reduce its crude output by 500,000 bpd until the end of this year.
News
December 06, 2023
At the center of discussions in Riyadh will be Russia’s role in OPEC+, the Saudi-led alliance between the Organization of Petroleum Exporting Countries and other major oil producers, which last week agreed to extend and deepen production cuts to bolster prices.
News
October 09, 2023
Treasury Secretary Janet Yellen said the U.S. is preparing to crack down on evasion of the Group of Seven’s price cap on Russian oil, as recent market prices signal that the mechanism may no longer be working as hoped.
News
October 04, 2023
The leaders of the OPEC+ coalition announced the plans in separate official statements on Wednesday. Riyadh has slashed crude oil production by 1 MMbpd, and Moscow is curbing exports by 300,000 bpd, on top of earlier cuts made with fellow OPEC+ nations.
News
September 05, 2023
The leader of OPEC will continue its production cutback of 1 MMbpd until December, according to a statement published by the state Saudi Press Agency on Tuesday. Russia’s export reduction of 300,000 bpd will be extended for the same duration, Deputy Prime Minister Alexander Novak said in a separate statement.
News
August 30, 2023
Since Russia started working with OPEC in 2017, Igor Sechin has consistently criticized the cooperation. The Rosneft CEO has pushed instead for the country to increase crude production and defend its market share from other global producers.
News
August 15, 2023
The explosion occurred at the Talinskoye oil field near Nyagan town in Khanty-Mansiysk region, the Moscow-based Izvestia newspaper reported, citing an unidentified source.
News
July 31, 2023
Rigs drilled 14.7 thousand kilometers of production wells in Russia from January to June, 6.6% more than planned and 8.6% more than the same period in 2022, according to data seen by Bloomberg.
News
April 03, 2023
Russia has decided to keep its oil production at a reduced level through 2023 amid high volatility in the global market, said Deputy Prime Minister Alexander Novak.
News
March 20, 2023
The G-7 previously agreed to review the price level in mid-March, and EU legislation stipulates that the aim should be to keep the threshold at 5% below average market rates.
News
March 13, 2023
Government authorities have asked banks and traders to adhere to the rules, the people said, declining to be identified as the information isn’t public. Indian officials have not gone on the record to say they will support sanctions and the price cap imposed by the Group of Seven nations on Russia.
News
March 09, 2023
Despite the exodus of almost every Western oil company, Russia can maintain crude oil production longer than many expect, according to S&P Global Vice Chairman Dan Yergin.
News
February 24, 2023
Russia’s crude fetched an average of about $74 per bbl in the four weeks that followed the cap, according to calculations by experts including from the Institute of International Finance, Columbia University and University of California.
News
February 21, 2023
Russia has covertly mapped the Dutch energy infrastructure in the North Sea and “undertakes activities that indicate espionage and preparatory actions for disruption and sabotage,” the intelligence agencies of the Netherlands said in a report on Monday.
News
February 20, 2023
The combined measures would create a “holistic approach to pressure Russia” in the coming weeks, Estonian Foreign Minister Urmas Reinsalu told reporters in Brussels.
News
February 16, 2023
Pricing data from Platts, a unit of S&P Global, suggest traders are garnering an unusually large margin on shipments of Urals crude sent from Russia’s ports in the Baltic region to India’s west coast, with delivery prices more than $20 a barrel higher than the purchase amounts.
News
February 14, 2023
Russian companies did the most drilling at their oil fields in more than a decade last year, with little sign that international sanctions or the departure of some major Western firms directly harmed so-called upstream operations.
News
February 13, 2023
The European Union downplayed the impact of Russia’s cut in oil production and said it was forced on Moscow by sanctions related to its invasion of Ukraine.
News
December 30, 2022
As the year comes to an end, World Oil looks back on all of our breaking news items. Record-breaking crude exports and billion-dollar oil projects are only some of the incredible feats the industry accomplished. Read our final collection of top news stories of 2022 here.
News
December 28, 2022
U.S. oil producers recouped pandemic losses, while Russian war-time efforts disrupted other operations in 2022. However, that’s a small glimpse into this year’s most interesting headlines. Read more of the top industry news stories here, courtesy of World Oil.
News
December 26, 2022
2022 was an enormous year for the oil and gas industry. From oil discoveries in Wyoming to Russia working around Western sanctions, there was no shortage of ground-breaking news. Read World Oil's top news stories of 2022 here.
