Russia
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.
News
January 04, 2021
“At the risk of being seen as a killjoy in the proceedings, I want to urge caution,” Saudi Energy Minister Prince Abdulaziz bin Salman said at the start of the group’s video conference on Monday. “The new variant of the virus is a worrying and unpredictable development.”
News
January 04, 2021
A decline in the dollar is boosting the appeal of commodities that are priced in the currency, while as investors return to their desks at the start of the year, crude has emerged as a favored trade to hedge against a rise in inflation.
News
January 01, 2021
The alliance of producers led by Saudi Arabia and Russia must decide whether it can continue to restore crude supplies without capsizing the price recovery they spent most of 2020 working to achieve.
News
December 31, 2020
Gas pumped from the BP-led Shah Deniz deposit in the Caspian Sea began flowing into Italy, Greece and Bulgaria on Dec. 31, BP and Azerbaijan’s state energy company Socar said in a joint statement. The European Union has worked for years to ease its dependence on Russia, which accounts for about a third of the region’s gas supplies.
News
December 30, 2020
When complete, Nord Stream 2 will allow Russia to expand deliveries of gas to Europe and circumvent the traditional transport corridor through Ukraine. The U.S. and Eastern European nations say the pipeline will make Germany and the European Union too reliant on Russian gas.
News
December 25, 2020
“To restore our output, that we’ve reduced a lot, the price range of $45 to $55 a barrel is the most optimal,” Russia's Deputy Prime Minister Alexander Novak told reporters in Moscow. “Otherwise we’ll never restore production, others will restore it.”
News
December 25, 2020
World Oil editors discuss The North Face doubling down on its principled stand against well-paying American jobs, Russia wants to see OPEC+ production rise in February, and U.S. land regulators shrink Alaskan oil lease acreage.
News
December 25, 2020
The LNG vessel Tristar Ruby, which loaded at the Cove Point plant in Maryland, is headed for Croatia’s terminal on the Adriatic island of Krk, according to ship-tracking data on Bloomberg. The ship is scheduled to arrive on Jan. 1, the expected start date of the terminal.
News
December 21, 2020
The Organization of Petroleum Exporting Countries and its allies have shifted to a monthly schedule of meetings, so they can react more rapidly to changes in the market, and make more gradual production adjustments that are better suited to a volatile situation.
News
December 11, 2020
From Azerbaijan to Syria to Libya, Erdogan’s drive to rebuild Turkey’s influence as a regional power has forced Russia to roll back its ambitions. Even as Erdogan increasingly positions himself as a check on the Kremlin’s geopolitical reach, Putin has nothing but warm words for his Black Sea neighbor in public.
News
December 07, 2020
“The peak of consumption may have already passed,” Deputy Finance Minister Vladimir Kolychev said in an interview in Moscow. “The risk is rising in the longer term” that hydrocarbon revenues could come in below the current outlook, he said.
News
October 23, 2020
While Putin said his preference was to adhere to the current plan, his comments are a show of unity between Russia and Saudi Arabia, whose leaders have been engaged in intense telephone diplomacy this month.
News
October 15, 2020
The nation’s producers, which have reduced oil drilling by as much as one-third so far this year, may cut it by a further 20% in 2021, said Vitaly Dokunikhin, CEO at Eriell Russia.
News
October 14, 2020
Currently, “we expect we will be able to gradually raise production, in line with the conditions of the agreement, without harming the market,” Alexander Novak said in his column for the October issue of Energy Policy magazine.
News
October 07, 2020
The regulator said the 9.5 billion-euro ($11 billion) pipeline will impede competition and “violates the interests of consumers.”
News
September 11, 2020
On September 17th, Saudi Arabia and Russia will chair a monitoring meeting to assess whether the vast production cuts, which they started easing in August, are still staving off an oil glut. New signs of exporters reneging on the deal aren’t helping.
News
August 19, 2020
Saudi Energy Minister Prince Abdulaziz bin Salman and his Russian counterpart Alexander Novak hailed the rebound in oil prices and demand, but repeatedly urged their allies in a video conference on Wednesday not to ease off their output curbs.
News
July 30, 2020
Weatherford International successfully and remotely used a restricted crew to install a 16-inch liner hanger on an offshore platform in Sakhalin Island, Russia during the COVID-19 lockdown.
News
July 22, 2020
Russian President Vladimir Putin ordered his government to consider hedging Russia’s massive oil and gas export revenues to protect the country from drops in prices, Interfax reported Wednesday.
News
July 21, 2020
The Interstate Oil and Gas Compact Commission (IOGCC) this week passed Railroad Commission Chairman Wayne Christian's resolution urging the federal government to investigate excessive dumping of crude oil by Saudi Arabia and Russia and take appropriate action.
