Lukoil ready to join oil production freeze
Russia’s oil major Lukoil is ready to join the initiative on crude production freeze if there is a government decree, its Vice-President Leonid Fedun said. "I would like to speak for Lukoil, if there is …
Russian Oil
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Lukashenko: Iran searching for oil buyers to cut down price for us
Belarus is negotiating oil supplies with Iran due to complicated talks on gas and oil with Russia, President Alexander Lukashenko said. "We’re in talks with Iran, which is searching for crude oil buyers to …
Yunus-bek Yevkurov about cooperation with Rosneft
The next project of 'Rosneft' in Ingushetia is almost completed: this year a new kindergarten for 240 children with a swimming pool and a stadium for mini-football will be opened in the rural village of Ekazhevo. …
Oil may be up 75%, but here’s why it will remain cheap
Prices will remain subdued because the world is swimming in oil
Putin and Erdogan discussed Turkish Stream and energy development
On the sidelines of the G20 summit in China, Russian President Vladimir Putin and his Turkish counterpart, Recep Tayyip Erdogan, have the Turkish Stream project and energy development, the Kremlin’s …
Why do Russia want to talk to Saudi Arabia about oil?
Is the real reason has something to do with Rosneft's massive fall in profits?
Stealing a peek at Russian economic recovery before it happens
Economic agents are feeling much more optimistic than a year ago
OPEC reference basket below $39
The OPEC reference basket of crudes dropped by $0.82 (2.06%) to $38.97 per barrel. The price was $39.79 per barrel the previous day. The average price in July is $42.68 per barrel, in 2016 - $37.2 per barrel, RIA Novosti reports. …
Is Middle East displacing Russia from European oil market?
A price war between Russia and the oil producers of the Middle East is becoming more intense, the International Energy Agency (IEA) said in its report. The document notes that Iran, Iraq, Saudi Arabia and Kuwait are trying to win …
Russia raises oil exports
Russian crude exports rose 4.9% to 5.55 million barrels a day in the first half of the year from the same period in 2015, according to data from the Russian Energy Ministry. Export is on track to set a record this year, Bloomberg …
Lukoil buys assets in Netherlands, Belgium, Luxembourg
Lukoil announced the purchase of filling stations in the Netherlands, Belgium and Luxembourg, the company's First Vice President Vladimir Nekrasov said. "We acquired a network of filling stations in the …
Turkey awaits U.S. presidential election outcome
rising oil relationship with Iran
Turkey’s rising oil relationship with Iran awaits US presidential election outcome
Iran has emerged as a swing oil supplier for Turkey in 2016, enabling Ankara to significantly reduce the amount of crude oil purchased from Russia. Iran has been able to play this vital role for Turkey because of the remarkable jump in Iranian …
Russia now sees no need to cooperate with Saudis on oil
Alexander Novak announced Russia's intention to continue to increase volume of oil production
Bloomberg: China and India may buy Rosneft
Russia is considering selling part of Russia’s Rosneft to China and India, Bloomberg reports. Russia is seeking buyers for 19.5% of state oil champion Rosneft OJSC and would prefer a joint deal with the two nations leading the …
LukOil announces "radical decisions" on its business in Europe
Vagit Alekperov stated that the company is considering the sale of its factories in Italy, Romania, Bulgaria and the Netherlands.
Russian determines investor for last major oil field
Kremlin determined investor for the last major oil field that Russia has. RBC reports that the Arab Mubadala investment fund may obtain a minority stake in the project of development of the Erginskoye oil field. As the …
"Lukoil" starts drilling in Caspian Sea
"Lukoil" plans to start drilling at the Filanovsky field in the Caspian Sea in June and production - in September. "Lukoil" will build more than 25 platforms for the development of the North Caspian fields, total …
Russia raises duties on oil and oil products
Russia's oil export duty was increased by $14.6 to $80.6 per ton from June 1, the Ministry of Economic Development said. Reduced custom fees for oil from Eastern Siberia, Northern Caspian and the Prirazlomnoye Field were still …
Russian Energy Ministry publishes oil production forecast
Russian Energy Minister Alexander Novak said that annual oil production in Russia is going to fluctuate in the range of 525-545 million tonnes until 2035. "Between 525 and 545 million tonnes - forecasts within …
