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Russia has already cut oil production under a deal with OPEC by 200,000 barrels a day and plans to reduce it by 300,000 barrels a day by late April, the Russian Energy Minister Alexander Novak told CNBC at the Arctic forum in …
Russian Energy Minister Alexander Novak said that the Arctic is a future of Russia's oil and gas production. "The Arctic shelf is a huge hydrocarbon reserve that possesses billions of tons of oil and tens of …
Russia is making less money on oil and gas exports, according to the data published today by the Federal Customs Service. In 2016, the revenues from oil and gas exports declined by 17.7% (compared to 2015) and amounted to $73.676 billion. …
Moscow still expects Minsk to repay its gas debt, though there is no progress in the talks on issues related to gas and oil between the two countries, Russia’s Deputy Prime Minister Arkady Dvorkovich said. …
The export duty for Russian oil has increased by $10.4 to $89.5 on February 1 from $79.1 per ton, the Russian Ministry of Economic Development said. The export duty for heavy oil has grown from $12 per ton in January to $13.9 per ton …
OPEC and Russian oil ministers say they are going faster and doing better than expected in their efforts to cut oil production and boost prices, RadioFreeEurope/RadioLiberty reports. “We are ahead of schedule and we will …
Russia has reduced oil production by 100,000 barrels per day (BPD) in accordance with OPEC deal, and is ready to do everything possible to maximize its participation in the implementation of the agreement, …
According to the Russian Finance Ministry estimates, export duty on oil in Russia will increase by $10.4 dollars and will reach $89.5 per tonne from February 1, 2017. Currently, the export duty on crude oil totals $79.1 per tonne. …
Russia is respecting its commitments on reduction of oil output in line with OPEC agreements cutting production in the first 10 days of January by the amount exceeding previously set by Russian largest oil producers, Energy Minister …
Russia has begun cutting oil output within the framework of last year's agreement among major producers to limit supply and bolster global prices, a source familiar with the course of the agreement said.
In 2017, SOCAR plans to export about 1.5 million tons of oil through Russia, while in 2016 this figure is expected to reach 1.3 million tons. Azerbaijan’s State Oil Company SOCAR and Russia’s Transneft have agreed on …
Russian oil and gas condensate production increased in 2016 by 2.5% and reached 547.499 tonnes, or 10.96 million bpd, up from 10.72 million in 2015. December stood unchanged at 11.21 million barrels per day (bpd), flat month …
The Moscow court had ruled against any move by Transneft to halt pipeline shipments of Rosneft's oil, Reuters reports with reference to Interfax. Transneft has not yet agreed a deal with Rosneft for 2017 on transporting its oil and …
The oil export from Russia is expected to reach more than 2016's estimated total of 253.5 million tonnes (roughly 279.4 million tons) in 2017, which is an almost 5-percent increase since 2015, Russian Deputy Energy Minister Kirill …
Russia's oil export to foreign countries in the first quarter of 2017 will amount to 50.98 million tons, adviser of Transneft president Igor Demin informed. He also noted that "Russian exports 51.3 million tons …
The head of Russian Ministry of Energy Alexander Novak said that an agreement with OPEC and other oil-exporting countries to cut the oil production will have a positive effect on the Russian economy, as it will help to make …
Russian President Vladimir Putin personally agreed planned Russian oil output cuts based on a consensus he had reached with major oil firms, the Kremlin spokesman Dmitry Peskov said. "The theme of …
OPEC will continue to insist on Russia cutting, not just freezing oil production after the organization finalizes its own agreement, the Saudi Energy Minister Khalid al-Falih said before the OPEC meeting. "A freeze …
Russia's average daily production of oil and condensate in October increased by 3.9% on the year and by 1% on the month to 11.204 million barrels, setting a new post-Soviet record high (the previous was 11.11 million bpd), news agencies …
Russia is obliged to actively promote its interests in the international energy market, because it cannot afford to lose its positions, the president of the Union of Oil and Gas Producers of Russia, Gennady …
