Russia
News
February 16, 2021
As a result of geological exploration and production drilling conducted in 2020, Lukoil added 464 million barrels of oil equivalent to its proved reserves. The largest contribution was made by the assets in West Siberia, Ural region, Timan-Pechora and Russian sector of the Caspian Sea.
News
February 11, 2021
OPEC meets on March 4 and members will probably agree to keep output steady in April, Iraq’s Oil Minister Ihsan Abdul Jabbar said. The biggest change will come from Saudi Arabia, which will likely end unilateral daily cuts of 1 million barrels after March, he said.
News
February 09, 2021
Investors are betting that Russian oil giants such as Lukoil, Rosneft and Tatneft will rally as they mop up market share from rivals in the U.S. and and other countries seeking to switch to clean energy.
News
February 08, 2021
Turkey’s state-owned oil and gas company is considering partnerships and plans to raise funding this year to carry out work on the biggest natural gas discovery in the Black Sea, according to people with knowledge of the matter.
News
February 03, 2021
OPEC and its allies have taken a two-month pause while restoring some of the millions of barrels of crude output they halted when the coronavirus emerged to crush fuel demand last spring.
News
February 02, 2021
Last month’s pledge by Saudi Arabian Energy Minister Prince Abdulaziz bin Salman to slash production by a further 1 million barrels a day has buttressed global markets against the latest onslaught from the pandemic.
News
January 21, 2021
“We need to also discuss which economic relations in the gas sector are possible with Russia, and which aren’t,” Merkel said during a news conference in Berlin Thursday, referring to planned talks with Joe Biden’s government. “My basic position on Nord Stream 2 hasn’t changed,” she added, when asked about plans to complete the pipeline between Germany and Russia.
News
January 20, 2021
Fresh sanctions come just days before work on the pipeline is scheduled to start in Danish waters. Questions now remain whether the link, owned by a unit of Gazprom PJSC, will see further delays as the U.S. tries to limit Russian influence in Europe.
News
January 20, 2021
Traders have piled into oil this year, with output cuts from Saudi Arabia helping drive prices to the highest since February.
News
January 19, 2021
Two weeks ago, the world’s biggest crude exporter stunned energy traders by announcing that -- rather than restore halted production as planned -- it would slash supplies by a further 1 million barrels a day. On Tuesday, the International Energy Agency slashed forecasts for world oil demand in the first quarter as countries hunker down to contain new coronavirus outbreaks.
News
January 14, 2021
The pipelaying vessel Fortuna is expected to complete works in Danish seas by the middle of the last week of May, and then start in German waters with construction going through to June.
News
January 13, 2021
Saudi Aramco will supply less crude as part of long-term contracts next month, giving some Asian processors 20%-30% less than they had sought, according to company officials who received the notices but asked not to be identified as the information is private.
News
January 08, 2021
Government-owned Abu Dhabi National Oil Co. set Murban crude at a premium of 75 cents a barrel to the regional benchmark, according to a notice from the producer.
News
January 07, 2021
State producer Saudi Aramco on Wednesday raised its flagship Arab Light oil to Asia, its biggest market, to $1 above the benchmark used by the company.
News
January 06, 2021
OPEC+’s agreement, which will see most producers keep output steady while the Saudis cut, prompted a sharp rally in the structure of the oil futures curve as traders anticipated lower supply in the coming months.
News
January 06, 2021
“We are the guardian of this industry,” Saudi Energy Minister Prince Abdulaziz bin Salman said as he announced Saudi's production cut on Tuesday, preserving the OPEC+ deal and sending oil prices to 10-month highs. He emphasized that the decision was made unilaterally by Crown Prince Mohammad bin Salman himself.
News
January 05, 2021
The deal, which emerged after two days of talks, sent crude surging to a 10-month high in New York. It appeared to give most members of the group what they wanted -- the additional price support desired by Saudi Arabia and the production boost Russia had been pushing.
News
January 05, 2021
A Rosneft spokesman said that the deal was “a logical extension” of its cooperation with Trafigura and would give the trading house “long-term access to high quality hydrocarbons to be produced with a low-carbon footprint that can be shipped both to the west and east.”
News
January 05, 2021
Futures in New York gained toward $48 a barrel after dropping the most in 2 weeks on Monday. Discussions will restart on Tuesday after a majority of members, including Saudi Arabia, opposed Russia’s proposal for another supply hike.
News
January 04, 2021
Talks between OPEC and its allies will continue for a second day after most members, including Saudi Arabia, opposed Russia’s proposal for another output increase in February, following the 500,000 barrels a day being added this month.
News
January 04, 2021
The difference of opinion between Saudi Arabia and Russia, the two de-facto leaders of OPEC+, could make for another tricky meeting. While Russia appeared to be outnumbered, the group typically requires a consensus among all members before concluding talks.
