Novak assesses global oil market situation
Oil market is now balanced, and its prices fluctuate around $80 per barrel, reacting to the dynamics of related markets and exchanges, Russian Deputy Prime Minister …
Alexander Novak
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Novak: Russia to redirect most of oil exports from Europe to east
Russia will this year divert to Asia 140 million tonnes of oil and oil products that previously would have headed to Europe, Russian Deputy Prime Minister …
Novak assesses OPEC+ cooperation after deal expires
The countries participating in the OPEC+ agreement can continue cooperation even after the end of the deal, including as part of technological interaction and the creation of joint projects, Russian Deputy Prime Minister Alexander Novak said. …
Novak and Nabiullina to go to Iran
The Deputy Prime Minister of the Russian Federation and the head of the Bank of the Russian Federation may visit Iran in May. There they will hold talks with top officials of the country and discuss the expansion of trade and economic relations between Russia and Iran.
Russia switches to settlements in national currencies, Novak says
Payments for energy resources are converted exclusively into national currencies
Russian stores to get Dagestani goods
The most demanded goods from Dagestan will soon appear on sale in many regions of Russia
Russia to extend oil production cuts by 500,000 barrels per day
Russian will extend its voluntary oil production reduction by 500,000 barrels per day from February’s average output until the end of 2023, Russian Deputy Prime Minister Alexander Novak said. "As responsible and preemptive …
London announces new sanctions against Russia
The UK sanctioned leadership of Rosatom and Rostec, MTS-Bank, Novak, Shadayev and others. The restrictions are timed to coincide with the anniversary of the special military operation
Russia increases oil exports in 2022
Russia's oil exports went up 7.6% to 242 million tonnes in 2023, Russian Deputy Prime Minister Alexander Novak said in an article for the Energy Policy journal. According to him, Russian oil production rose 2% to 535.2 million …
Russian gas exports down 25%
Russia’s gas exports were down 25.1% to 184.4 billion cubic metres (bcm) in 2022 due to sabotage on the Nord Stream gas pipelines and European customers shunning Russian supplies, Deputy Prime Minister Alexander Novak said in an article for …
Russia triggers surge in oil prices
After Alexander Novak announced that Russia would cut oil production by 500 barrels, its price skyrocketed.
Oil output in Russia up by 2% to 535mln tonnes
Russia's oil production increased by 2% to 535 million of tones in 2022, while exports grew by 7%, Russian Deputy Prime Minister Alexander Novak said on Monday. "Oil production last year amounted to 535 million tonnes. This is …
Russian oil and gas budget revenues up 28% in 2022
Russia's budget revenues from the oil and gas industry grew 28% annually in 2022, Russian Deputy Prime Minister Alexander Novak said during a government meeting shown on state television on Monday. According to Novak, that increase …
Novak explains why discount for Russian oil increased
Discount on Russian oil grew in January mainly due to the rise in freight prices, Russian Deputy Prime Minister Alexander Novak said. "I hope that this situation will be temporary. The discount should decrease over time, as we …
Novak: Russian pipeline gas may be sent to Afghanistan and Pakistan via Iran
Russia can export its natural gas to the markets of Afghanistan and Pakistan in the long term, Russian Deputy Prime Minister Alexander Novak said. "If we talk about perspective, this includes exports of gas to Afghanistan, Pakistan …
Novak: Russia discussing additional gas supply volume through Turkey with EU consumers
Russia is ready for additional gas supplies through Turkey and reinstate gas shipments to Europe through the Yamal-Europe pipeline, Russian Deputy Prime Minister Alexander Novak said. "Right …
Azerbaijan to increase Russian gas deliveries
Russian Deputy Prime Minister Alexander Novak said Russia has reached agreement with Azerbaijan to increase natural gas supplies for domestic consumption. "There is an agreement with Azerbaijan to increase our supplies because they …
Novak: repairing of Nord Stream still possible but...
Repairing the Nord Stream pipeline is still feasible but it would take time and money, Russian Deputy Prime Minister Alexander Novak said in an interview. It’s not yet possible to say how long potential repairs would take and how …
Novak: world changed its attitude towards green agenda
The world has changed its attitude towards the green agenda, Russian Deputy Prime Minister Alexander Novak said, explaining that the position has become more balanced, and the energy transition itself will be smoother. …
Russia's energy resources cannot be cut off from market, Novak says
The share of hydrocarbons and coal in the global energy balance is now approximately 82%, Russian Deputy Prime Minister Alexander Novak said, noting that they will play a dominant role at least in the coming decades. "As for …
